When in­sur­ers won’t pay up


In­sur­ance is sup­posed to be there when you most need it.

It should pay off the mort­gage should you die, cover the bills if you fall crit­i­cally ill, or pay for daily nurs­ing should you be­come per­ma­nently dis­abled.

And yet, each pol­icy is filled with ‘‘ex­clu­sions’’ and ‘‘re­stric­tions’’ on when claims will, and will not be paid.

Don’t get me wrong. I love in­sur­ance. My dad, who took his in­sur­ance se­ri­ously, died young, so I know the value to a fam­ily.

But you have to ap­proach in­sur­ers with your eyes wide open, and that means read­ing the poli­cies you buy to en­sure you know what you are cov­ered for, and the times when in­sur­ers will de­cline your claim.

Read­ing your poli­cies is the only cure for the mag­i­cal think­ing that many peo­ple bring to in­sur­ance, which pretty much amounts to this: If some­thing bad hap­pens, the in­surer will pay.

Well, this top 10 should re­veal that that is not al­ways true.

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