5 Ways Smart People Prevent Their Insurance Claims From Being Rejected

 


Have you ever felt scared to take up an insurance policy because you heard of some stories about people who's claims got rejected due to some unknown reasons, they probably were ignorant about. 

Fear not, because insurance companies value their customers very much; but also remember that insurance agreements are binding on the parties involved. Hence, parties have a duty to always adhere strictly to the rules of engagement and check with each other from time to time to ensure that breaches do not occur. 

Apart from asking clarifying questions from the inception of your policy about terms in the agreement you do not understand fully, long before you have need to file for claims. Here are 5 ways you can prevent your insurance claim from being rejected:

1. Be Honest: Sharing your honest personal details such as age, habits, hobbies, medical history, profession etc when taking up a policy are very important because they are used to determine your premium and your risk coverage. Failing to disclose necessary facts from inception and during the policy term can be quite an issue when you need a claim. It is also very important to notify your insurance provider about any omission/wrong information in your insurance document immediately after you receive and study it. 

2. Take Medical Tests If Required: It is advisable to go for a medical tests you have been advised to do so by your insurer. This is to ensure that you spot any pre-existing illnesses so that your insurer can provide adequate coverage if the tests reveal critical health conditions. 

3. Ensure Premiums Are Paid When Due: Insurance policies are more than a risk management strategy, they are also inexpensive  investments into your future. If your premiums under a "non savings/investment plan" are not paid as per the due dates your policy will lapse (no cover) and your claim request would be rejected, if an untoward event occurs. However, regardless of the type of insurance you are worried about maintaining, you should call your insurer to find out if there is a way to delay paying premiums while still keeping the coverage. 

4. Update Vital Details With Your Insurer When They Occur: Life isn't static and change is constant. When changes, which can influence your insurance plan occur within your policy term, it is good to notify your insurance provider immediately so that your records are updated. These changes could be: marital status, name change, nominee change, etc. 

5. Avoid Going Against The Agreement: Insurance companies do state certain conditions under which claims can be rejected. Some of these exclusions include committing a moral hazard, drug overdose, death by accident under intoxication, suicide etc. 

#elileojoblog #insurance

Christopher is a brilliant content writer and digital marketing executive who enables brands to connect in a human way with their audience on the internet. He is also a trained investment advisor, with a passion for helping people secure and maximize their financial resources.

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