Tips on making claims

Tips on making claims

JAKARTA (JP): Almost all life insurance companies boast that
they can process claims as fast as withdrawing money from a bank.
But in reality, many policyholders or their spouses face
difficulties receiving their insurance benefits mainly due to the
differences between the beneficiary's and the insurance company's
perception of the policy.

To avoid such circumstances, we have to be very clear about
the policy before we commit to it. We should explain the terms of
the policy to our family and keep the policy in a safe place. If
you pay your premiums through a sale agent, make sure the
receipts are genuine. It is therefore important to regularly
check our premium payments with the insurance company.

The premium payment receipts (especially the latest ones) are
one of the important documents we need to produce when filing in
a claim. So make sure you file the receipts properly.

The life insurance companies generally follow a similar
procedure in settling claims. In the case of death, they usually
require the spouses of the insured to provide a death
notification letter from the local government office or district
head. To obtain this letter, we have to produce the deceased's
death certificate issued by the hospital.

If the insured died of an accident, we also have to provide a
police certificate. In this particular case, some insurance
companies may also insist on a postmortem of the deceased.

Although some life insurance companies allow beneficiaries a
year to make the claim, it would be better to submit the claim
within a week after the death of the insured.

Life insurance companies will not accept claims on death as a
result of suicide, execution by the authorities or while
committing a crime. The beneficiary of the insured who died of
such circumstances will only receive the cash value of the
policy, if any, but not the death benefits.(hen)