There is a common saying : insurance companies do not pay the customer’s insurance claim. Reality is not that. Insurance companies have no chance of not paying insurance claims if they comply with the laws on which insurance claims are made.
To meet the legal ity of insurance claims, some urgent issues need to be looked into from the time of purchase of the policy to the demand.
1. The proposal letter should be read carefully when making policy. In this case, the terms of the policy need to be understood. The information that an agent or broker gives cannot be relied upon. You need to understand the terms of the policy by consulting with people who understand the insurance policy.
2. A class of field workers employed by insurance companies are tempted to make policies. They can’t be trapped in temptation. The financial status and policy conditions, the amount of bonuses the company can pay or pay, the financial status of the insurance company concerned, the purchase of the policy. Policy is not finished – it is important to consider whether the policy has the financial capacity to pay the premium to the end. If you don’t pay the premium until the end, the policy will be terminated. This policy does not bear any responsibility. On the other hand, the main condition of getting insurance claims is to keep the policy in place. You’ll have to pay a policy premium for at least two years.
3. The proposal must be filled out with the correct information when making policy. Copy of the proposal will also be copied. The things you need to be careful about are:
# Filling out the proposal by specifying the correct age. As proof, copies of national ID must be attached to the proposal. Also, if you have a SSC education certificate, a driving licence, you can copy it.
# The proposal should accurately mention the family history. In this case, the age and health status of the mother, father, brother, sister, wife/husband, son, daughter must be properly defined.
# Relationship with the chosen person, his exact age and name must be specified correctly. The chosen person must accurately specify the same information as his legal guardian if he is an adult.
# If medical examination is required, the government must submit a health check report from a registered doctor with the proposal letter. Under no circumstances can the health check report be submitted or submitted to the proposal without the need for a health check on the other’ motivation.
# If medical examination is not required, the proposal will have to be filled out with the correct answer to health questions. No policy can be made with false information under any circumstances.
4. Life insurance proposals are the basis of policy. So, if your proposal is accepted to the respective insurance company, you must deposit the premium money and save the appropriate deposit receipt, first premium receipt (FPR) or insurance risk acceptance letter and the original insurance document. The original insurance documents, FPR and the latest premium deposit receipt stake will be required to get any claim.
5. Renewal premium money must be paid by the date specified. In this case, the company’s bank account or related servicing cell or licensed agent cannot be credited to anyone. The agent must verify whether the agent is licensed to submit the renewal premium. In this case, the agent’s license number and name address must be saved. The company must also ensure that the agent deposits the money in the company’s account.
6. In case of 3/4/5 installment insurance, the policy customer will be able to get a fixed portion of the insurance account after a specified period of time. The date of the first insurance document will be clearly mentioned. This is actually a company paying the insurance amount of the policyholder’s insurance account, which will be excluded from the total amount of insurance dues at the end of the term. So it can’t be considered a policy bonus. The remaining insurance will be paid with the total bonus earned at the end of the policy period. However, before the expiry of the validity, the full insurance amount will be paid to the family with the bonus earned till the day of death.
7. Bonuses earned as the last announcement of the company regarding bonus will be paid with the insured money after the insurance policy expires or the policy owner dies. Bonus money is never paid without a policy end.
8. All insurance claims against the policy of the policyholder will be paid by the company through the cheque of the company as their own bank. So all information, including bank signatures, must be matched with the life insurance proposal.
9. The life insurance policy is a valuable asset to the customer and his family. So it is necessary to properly preserve the policy team and inform the family members. Because the policy buyer’s premature death or disability, the policy nominee must notify the company by raising the insurance claim within 30 days.
10. The number of people who have been in Insurance companies are obliged to resolve the claim within 90 days from the date of the insurance claim being raised. Therefore, if there is a delay in getting insurance claim, you must complain to the Insurance Development and Control Authority (IDRA).