With Canara HSBC’s high claim settlement ratio of 97%, there is an extremely high probability of your insurance claim being approved. However, in the rare circumstances that claims get rejected, they are due to one or more of the following reasons: Type of death: As mentioned earlier, certain types of deaths (caused by suicide, pre-existing health condition, and intoxication) are excluded from a term insurance claim. Failure to pay premiums: The most important factor to keep your policy in good standing is to ensure your premiums are paid on time. The policy can lapse if the premium is not paid which can lead to claim rejection. Details of Nominee: Your claim can become delayed if the nominee’s details are not entered or updated by the insured. False information: Should the policyholder or nominee deliberately falsify or conceal crucial information details when purchasing their insurance policy, Canara HSBC can reject the insurance claim after the insured’s death.