What to do if your insurance claim is rejected?

The Supreme Court ruled this week that insurance companies could not deny claims on grounds of breaching a condition that was "impossible" to fulfil.

- Steps to follow:

Online insurance platform Policybazaar.com witnessed a 58 per cent year-on-year rise in term insurance sales to self-employed individuals in 2024-25 (FY25), with millennials and Gen Z constituting 88 per cent of buyers. Women made up 15 per cent of self-employed buyers in FY25, up from 9 per cent in FY20. These figures point to the growing awareness among the self-employed regarding the need to buy financial protection for their families.

Key risks

Families of the self-employed face significant financial uncertainty upon the policyholder's death. "The primary source of income is lost. There may be outstanding personal financial obligations. And there may be business-related debt," says Vinod Singh, co-founder and chief executive officer (CEO), Finhaat. Salaried individuals may receive basic term cover from their employers. "Self-employed persons do not have any such cover, which makes it important that they buy adequate protection themselves," says Varun Agarwal, head of term insurance, Policybazaar.com.

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