The Buyt Desk
Health Insurance is a must-have safeguard which can help you at the time of a medical emergency. The insurance claim turns life-saving when a medical emergency hits and you are not prepared for it financially. In the absence of an insurance policy, the incident can drain out all your finances along with mental peace. However, if you have health insurance in place then at least as far as money is concerned it is sorted.
Be Transparent About Your Health Conditions
At the time of claim, the most crucial referred document is the proposal form. This form is filled out at the time of making the insurance claim. To get the maximum coverage and to avoid last-minute hassles in claiming insurance, you must fill out this form correctly.
Many times, while filling out the proposal form, policyholders just sign the document and hand it over to the insurance agent to fill rest of the details. Because the agent is not fully aware of the patient’s health condition, there is always a chance of missing out on critical information.
Note that the insurance form is the contract and an agreement between the insured person and the insurer. It contains all pertinent information that the insurer requires for the claim processing.
The reason why insurance claims get rejected is not filling in the relevant information in the proposal form. Certain health conditions need to be answered correctly in the claim form. And mind it, it is the responsibility of the policyholder to declare all the information accurately.
Non-declaration of old policy can also lead to insurance claim rejection. Thus, you don’t skip informing your insurer about the old insurance policy when taking the new one.
Share Information About Habit and Income Details
Concealing lifestyle habits and income details can hit you hard when the time is tough. If you have the habit of taking tobacco, smoking, alcohol consumption, etc., inform your insurer, even if you take them occasionally.
Other important information is your occupation and income. Both have a high significance in premium calculation and claim. Though a high-risk profession attracts a higher premium, it also ensures hassle-free approval of insurance claims during any unforeseen event.
You must provide the correct salary and ITR information while buying the insurance. Buying insurance providing wrong information will only lead to trouble at the time of the claim and in the worst case, would cause claim rejection.
When porting a policy, make sure all the information you have provided to your new insurer is correct. Do not presume that the new insurer has all details.
Claim Insurance Without Delay
Delay in insurance claims would delay the processing time, and you might not get the help at the right time. To avert this, make sure that you connect with your insurer right after the event. The insurance documents carry all contact details, and if there is any change in contact details the insurance company inform the customer. Keep yourself updated with the latest contact information. At the time of need, you can communicate with them via email or toll-free number or call the insurance agent directly to get assistance. The key is to claim insurance as early as possible to prevent delay.
Keep Nominee Details Updated
Your legal heir (The nominee you mentioned in the insurance document) should be alive at the time of claim. You must keep your nominee details updated. If the nominee has passed away, change the nominee and ensure that all the relevant documents contain the nominee’s name.
These checks at the time of insurance claim and before the event show how prepared you are. And this type of preparation never leads to disappointments.
