A certain friend in uncertain times

Making a Life Insurance Claim

You buy your insurance to give you certainty for when the unthinkable happens and when it is real. Once the initial shock wears off, the next thing is where the money comes from, and insurance becomes a beacon of hope and positivity.

Historically, life insurance was about paying money on death or terminal illness, and over the last twenty-plus years, claims increasingly pay for events while you are alive., for instance, paying lump sums for heart attacks, strokes, cancer, inability to return to work, and paying an income when you cannot earn due to an illness or injury.

Current policies may have many add-ons to improve the money you receive or help you receive advice or opinions from worldwide specialist medical and health practitioners.

Making a claim query

A claim could start from a query from you, your relative, or your legal adviser; we have had several claims from a client catch up, and they are unaware that a claim was possible.

If you start the claim query where you have an adviser, contact the adviser, who will help you get enough details to initiate a claim, support you through the process, and explain how the claim process will work, what you can expect from the insurer and the adviser process and payment-wise, including partial payments.

The insurer may require proof of the event and third-party input, such as a medical person or death certificate, and these things can slow progress.  

Sometimes, while an insurer is working through the process, you won't hear from them for what can seem like forever, and as the client, that is an emotional void that can create doubts( what if they don’t pay?)... and meanwhile, the requirement for money doesn’t stop.

Your adviser is there to provide emotional support during this time. They will stay in touch, offer advice, lend an ear, and help you focus on what you can control.

In the background, they will work with the insurer to check progress or requirements.

For ongoing claims like income protection, the insurer may ask for regular updates from you and your medical attendees, and again, your adviser can help you with this.

What happens if the process is slow, or a claim is declined

Insurers work to a legislative code and will communicate progress within the legislative timeframes, whether that is the claim progress or a claim outcome if a claim is declined and the client feels this is unfair, a process is available to challenge the decision, including the use of an independent third-party Ombudsman.

In my experience of 35 years, I have not had a client claim declined that should have been paid.

Rewinding the clock and meeting expectations

Your potential claim starts the day you apply for the insurance policy. An insurer relies on the information you provide at application time. Whether it be over days or decades     

We, as advisers, want to ensure that the plans we help build for you stand the test of time and deliver on the insurer's promise,