Insurance Claim: A Quick Guide

by Jena Shepherd | January 24, 2017 4:32 am

When was the last time when you went to buy an insurance cover for yourself and you were offered a thick booklet, consisting the terms of the agreement? Did you scrutinize all those conditions patiently? Have you ever realised that signing up the deed without even going through the material contained therein can put you in a fuss later? All this generally happens when you need to claim the coverage in the event of a tribulation.

Why insurance?

A call for an insurance cover arises to help give a congenial life to your near ones after you. Though we must be sanguine against every possible negative denouement but the future can never be projected. So it becomes imperative to warrant yourself against any of the following situations:Image result for Insurance Claim: A Quick Guide

Thus, any of the above-mentioned condition is sufficient to understand the requirement to go for coverage.

Where does the problem arise?

Just imagine you are in a disabled physical state, having lost all your earning power. Now you want to settle your insurance claim, thinking that it will be your source of bread and butter at this critical juncture. But you are denied such a claim just because your illness or disability was not specified in the deed. Did you pay heed to all this while executing the document? That ignorance in the beginning may sway your end result.

Generally, there is a waiting period in few policies which means that you may have to wait for some time before your coverage begins. While in others certain mishaps are not covered at all. Moreover, there are certain covers like Payment Protection Cover which secure your debts after you have become incapable of earning. Usually, these policies are sold at the time of obtaining a loan, mortgage, etc. But recent reports have shown that while going for a PPI Claim, a lot of people were found to be ineligible on account of:

In all these cases, a PPI Claim was found to be unqualified and fallacious.

Hence, whatever be the safety you have procured for yourself, you must be aware of the following:

So whether it’s an accidental insurance, critical illness or a PPI claim, following the above few techniques can help you avoid the rejection of your claim when you need it the most.

Author Box:

Fred Pipkin lists all those guidelines which help you before filing an insurance claim. A successful PPI claim[1] is always governed by a close following of the terms and conditions before buying the insurance.

  1. PPI claim:

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