Planned management of future risk or damage is called insurance or insurance. Insurance or insurance is a means of protection against financial loss, mainly used to hedge against the risk of an accidental or uncertain loss. Friends, through the post, we will know the complete information about the insurance claim process in detail and also we will read about insurance to some extent-
What is an insurance claim?
An insurance claim is an application for compensation under the terms of an insurance policy. Whenever a policyholder makes a formal request for compensation to the insurance company for any of his losses, it is called an insurance claim. This whole process is known as the insurance claim process. After the application, the insurance company validates the claim and upon approval of the insurance claim application, the insurance company releases the payment.
How to make an insurance claim?
Very few people would know, how to apply or claim for the amount of the insurance policy. Due to ignorance, they are not able to get their insurance claim amount for a long time or even due to filling wrong information in the application, the insurance claim gets canceled.
For this reason, the insurance claim has to be processed very carefully and correctly, so that the claim amount is received on time without any problem. Through the post, we have been told how to claim which insurance in a sequential manner.
Life Insurance Claim
Life insurance claims are mainly made in two types of cases, one when the insurance policy holder or the insured person dies and the other case when the policy matures which is also called maturity of the policy.
In the first case, fill the insurance claim application form along with death certificate of the insured, certificate of the nominee and attach all the documents related to the policy. Enter the place and cause of death and also attach copy of police FIR and post mortem report in case of accidental death. After applying properly, the insurance company releases the amount of the insurance policy in about 30 days.
In the second case, the insurance company sends the insured a discharge voucher which the insured has to sign and send it back to the insurance company. After getting the discharge voucher, the insurance company releases the insurance policy amount.
Health Insurance Claim
In the case of health insurance, the insurance company settles the claim in two ways, one option is cashless treatment in which the hospital charges the insurance company for the cost of treatment.
You have to get admitted for your treatment in a hospital approved by the insurance company and fill the necessary authorization form before or after admission.
Insurance companies allow many hospitals to provide such facility where the documents related to health insurance policy are already with these hospitals. From these hospitals, the insured can take advantage of the facility for his treatment through health insurance.
There is another option in which the patient has to pay the cost of his treatment himself, later, the insurance company pays the amount of the expenses incurred during the treatment of the disease.
For payment or reimbursement of expenses incurred during hospital treatment, fill up all the details in the required claim form correctly and attach all supporting documents like bill receipt, test report, hospital discharge certificate etc., insurance Apply to the company.
Motor Insurance Claim
Find out the estimated details of the damage caused to the motor vehicle by a dealer or any service center due to road accident or any other reason. After this, claim the sum insured against the loss, following the instructions given below.
First of all, by filling the application form for insurance claim, register your vehicle’s registration certificate (RC), driving license and police report of the accident with it.
In the application form, enter all the details like date and time of accident, cause of accident, name of the vehicles involved in the accident, model of the vehicle, number of the vehicle etc.
For third party claims, you have to send the documents to the Motor Accident Claims Tribunal (MACT) by attaching a copy of the FIR.
In case of car dacoity, fill dacoity related details in the insurance claim application form and attach Registration Certificate (RC), copy of driving license, copy of FIR and RTO transfer papers.
In some accident insurance claim cases, you also have to provide the names and phone numbers of the witnesses, in case of any dispute, the insurance company can verify the information given in the form.
While claiming the insurance money, keep some important things in mind, such as making an insurance claim as soon as the incident happens, it is better to claim as soon as possible and give correct information for the application, if any information is hidden, then the claim amount can be cut.