It is not a difficult process to claim any kind of insurance. There are different types of insurance policies they are,
- Life insurance policies
- Employer group life insurance policies
- Mortgage Life Insurance policies
- Multiple life insurance policies
Any claim, be it pet insurance, car insurance etc., follows a similar process. To claim any insurance policy, we first have to know the terms and conditions.
The insurer pays the amount to the policy holder during unforeseen circumstances which are in line with the terms of the insurance policy. This amount can be availed by the insured either directly or through a middleman.
You can also claim your insurance policy by yourself or through ppi claims company.
Though the process may differ slightly from one policy to another, there are a few general steps you should take before you claim your insurance. They are as follows:
Recognize All The Liabilities: Note all the liabilities, procedures, exclusions and understand the fine print of your contract. This is important in Life Insurance claims because you were not involved in taking out the policy that you are claiming on.
Proofs: Be certain to have important documents like the post mortem report and Police Report which is necessary for accidental deaths. You will be asked for the certified copy of the deceased’s Death Certificate and the Company wants the records to be produced from the test reports, hospitals.
Make A Call: After securing all the documents make a call to the number listed in the policy and say that you want to make a claim. They will send some forms to your mail.
Record the Process: If you have experienced any calamities like an earthquake, floods or very heavy rains, separate the undamaged property from the damaged one. Take photographs of the damaged articles and flood water levels. Write how the accident happened.
Make a list of damaged items, if possible include their value.
Some officials need to analyze the damaged articles. So place these items outside of your home.
Quotes: After your home is repaired, try to get a number of inclusive quotes from reputable contractors. These should be given to the insurers for approval of your claims.
Meet Adjuster: When the claim adjuster comes to look at the damage you must keep your documents handy.
After submitting the documents, records etc., the Company settles your claim within eight working days. If there is need for further verification; the Claimant is kept up-to-date by the Company. The decision is communicate to the claimant by mail.
Money to Arrive: As the company need to verify that the policy is still in force, valid death certificate etc., this process may take two months. Proofs like a valid death certificate are checked thoroughly over a period of time. Also the tenure of your policy is checked and the whole process takes quite some time. You may successfully claim on your insurance after the completion of this process.
About the Author:
This guest post is contributed by Zara,financial guest blogger. At present she is focusing on ppi claims . Catch her @financeport.