What are the usual “exclusion clauses” (insurance coverage or claims to be excluded) in an insurance policy?
There are usually some “exclusion” clauses in an insurance policy under which the insurance company would not be liable for the losses resulting from the specified events. The exclusion clauses remove the insurance coverage for the specified events that the insurance company chooses not to insure. The relevant reasons might be: such coverage is available under another class of insurance, the risks are not suitable to be taken up, or some special conditions are required, etc. There are different types of exclusions for different types of insurance. An exclusion clause may apply generally in respect of the whole insurance policy, or may only apply to specific sections of the policy. In certain circumstances, an exclusion clause may be limited or removed by paying an additional premium. The following are some examples of exclusions in respect of certain types of insurance. Life insurance : the insured person commits suicide within the first two years after the policy is issued of; certain
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