Step by Step Guide to Making Claim that Works for You

Unpredictability is perhaps one of the most unavoidable facets of life. No matter how hard you try to stay away from unfortunate events or bad incidents, it may come your way if it’s bound to happen. This is the reason why people desirous of higher levels of security go for insurance policies; so that they can remain a little bit assured about their future, and provide some decent level of financial protection to their near and dear ones.

The terms and conditions related to any insurance policy, be it life insurance or medical insurance, are quite complicated and difficult to understand for a common person. So, it becomes equally important to know the process of making a claim against an insurance policy. For this reason, we have noted down some of the basic steps that you need to follow in order to make/ file a claim against an insurance policy.

What You Need to Do?

  • When making an insurance claim, the first thing that you need to ensure that you must have each and every document related to the policy; such as receipts of the money deposited, insurance papers, and so forth, close at hand.
  • Once you have all the documents ready, you have to report the happening to the police. Happenings here refer mostly to incidents like accidents, theft, robbery, death due to illness, etc. For example, if you have an accidental insurance in place and you happen to meet with an unfortunate event that causes injury/ death, then you/your nominee has to report the happening to the police at the earliest.
  • Don’t forget to get a copy of the report that you have filed at the police station; otherwise your claim will not be accepted. Now, before you approach the insurance company, go through the entire terms and conditions mentioned in the policy document, in case you haven’t before.
  • Once you are prepared from your side, it is the time to contact the insurance company. You can either call them up on their toll free or emergency numbers, or visit their company office in person, and provide a brief description of the event that has happened and the claim that you would want to make against your plan.
  • You can also call up the broker who sold you the insurance policy. Brokers are usually more willing to help than the insurance company itself–especially when it comes to offering help with regards to claiming an insurance policy. They can offer good advice or suggestions in such events.
  • Take a quick look at the excess amount that you need to dole out from your pocket before making a claim. Know how much money you will get from the insurance policy after deducting the applicable fees.
  • During these processes, make it a point to keep a note of every conversation that you have had with the insurance agent, or an employee from the insurance company. Along with the date and time, note down the name and respective position of the concerned officer in the company. Maintaining a written record will help you keep track of all proceedings.

The claiming processes for all insurance companies are almost the same. File the claim without wasting any time and always provide the exact and correct details in order to avoid any hiccups. This increases the possibility of your claim getting accepted.

Harjot Singh Narula

Harjot Narula is founder and CEO of ComparePolicy.com, an IRDAI approved insurance web aggregator focussed on selling online insurance for companies. Harjot has more than a decade of experience in software development and has also spent 5 years in US working for the mortgage and risk management industry.

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