You might have heard about life insurance! Life insurance is a contract that an insurance company binds with a customer who agrees to pay a certain amount of premiums every month or year. Depending upon the policy and plan that the customer is willing to purchase. After the insured person has died, the insurance company is required to pay the amount agreed by the insured in the contract to the insured’s family.
Who assembles the policy forms of the insured customers?
Again, just like other policies by any insurance company, the insurance company will need authentic paperwork to approve the claim. The insurance company demands many documents such as death certificates, post-mortem reports, insurance premiums receipts, etc before approving the claim.
The insurance company usually takes their time to verify all the details with the hospital and family. And then ask one of their representatives to take care of the paperwork for them. These representatives are the workforce of insurance carriers. That is the insurance company’s claim approval department.
How do the policy forms of insured customers are arranged?
The insurance carrier representatives take note of when and how the insured died or expired. In addition, where is the body cremated, was facing any chronic diseases? And create a well-detailed report which he submits for the claims.
While assembling the insurance forms for the insured customers, the representatives put the insurance forms first. And then followed by death certificates, post-mortem reports and other miscellaneous papers.
In case there are any more details required, the representative reaches out to the insured’s family and asks for the details or paperwork. It is his job to get all the required information and keep them in proper sequence so that it could be easily checked and verified, and the claim can be approved or denied without losing much time.
Do insurance companies ever deny paying after getting all the assembled policy forms of the insured person?
Many insurance companies do deny such claims on the basis that the plan was only for accidental cover or natural death. It is imperative for the customers to know about their plans and accordingly buy any kind of insurance plan. A wrong choice can affect their family after their death. And your money might just go simply into the insurance company’s pocket.
The assembling and the sequence of the insurance forms for the insured customers are very important. Thus, to avoid any uncertain rejections or such things. Please remember you can always read out the insurance papers and try to be as thorough as possible. Do not simply believe whatever the salesman may say while you’re buying any insurance.
Always remember that you can always reach out to the customer service teams of insurance companies. And can have a word with them. You can also ask them about how to assemble and hand over the forms for the insured customers for claims. You can also review your cover and policies. Make sure that you have the right plan for yourself and your family.
How do insurance companies try to avoid it after getting all the assembled policy forms of the insured customers?
Sometimes even the insurance carriers will try to create deception to flee any chance of losing money. At such times you need to have all the paperwork intact. And you can try to get as many details as you can from the customer service representatives or agents.
One can also visit the insurance office branch to talk to the representatives in person to rectify. On the other hand, you can clarify any doubts you might have regarding your plans or cover. You can always have a better and more convincing conversation in person than on phones. Keep following up with representatives. In further, you can always keep in touch with them. And you can never misplace your insurance policy number just in case.
There are always escalation departments that you can call. And escalate your case to get your claim approved. Never let the insurance company stall or delay your payments. In case the company denies paying the claim you can always take legal help and hire an attorney. A lawyer will be able to create some pressure on the insurance company to approve your claim. Since insurance companies do not like lawsuits.
What to keep in mind while applying for the claim and assembling policy forms if the insured customer?
When you lose someone around you, it’s always tough to deal with the grey clouds around you. The sorrows, the sufferings will always be there. But do not procrastinate. A delay by your end might just give the insurance company a reason to ask more questions. Or even the chance to deny the life insurance claim.
Procrastinating the insurance claiming process is always a bad idea. Because the insurance companies try to avoid losing money. So always remember to be quick in taking action for your money. And remember to hand over the papers. And insurance firms of the insured person to the representatives without any delays.
See Also…
Things You Need To Know About How To Become An Insurance Agent?(Opens in a new browser tab)