Insurance Claim Process : 3 Simple Steps for Making an Insurance Claim

Buying an insurance plan is not enough. You need to know about the claim settlement process too. The ultimate aim of buying an insurance policy and paying the premium is to get claim settled when a need arises. If the claim is not processed properly or it is rejected, the entire purpose of buying insurance stands defeated. So you need to know how to successfully make a claim. Thankfully, the process is very simple these days and if you are a little organised and disciplined, your job will be completed on time. Take a look at this article to know about the three simple steps in which you can successfully make a claim on your insurance plan.

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1. Know your insurance policy

Before you begin, you must be well aware of the insurance policy you have. Go through the policy wordings and understand the features and clauses of the plan. A very handy insurance claim advice is for you to complete this step well in advance. Do not wait for a calamity to strike. Rather, do your homework and stay prepared. If you know what is covered and what is not covered under the insurance plan, you will be able to make the right kind of insurance claim. For example, if there are certain sub-limits or a deductible component associated with the plan, you have to take cognizance before making the claim. It is vital to be aware of your policy and the allowed coverage before you make a claim. To get the insurance claim processed smoothly, an accurate claim must be made in the first place.

2. Get the documents ready

The next and perhaps the most important step is to get all the documents in place. You will need various documents to get your claim processed. For this too, you need to take a good, hard look at the policy documents. If you have an insurance agent, you could ask him or her to assist you with the documentation work. Alternatively, you could directly contact your insurance provider and find out exactly what documents you need to submit along with the claim application form. You will get the required information on the insurer’s website as well. It is absolutely crucial for you to get the right documents and submit them properly and on time. Even if you pay all your premiums and maintain your policy appropriately, your claim will be rejected even if there is a small error in the documentation process.

Also Read: IRDA Health Insurance Claim Settlement Ratio 2022 for Top Health Insurance Companies

3. File the insurance claim

Finally, we come to the all important step of actually filing the claim on your insurance policy. For this, you need to download the claim application form from your insurance provider’s official website. You can get a form from their office as well. Then, fill the form correctly and submit it with all the required documents. It is necessary for you to file the claim at the earliest. If you wait for too long after the emergency strikes, your claim may be rejected.

Insurance claim help

Here are some useful tips that make insurance claim process easy and convenient:

Do it yourself: While you would like to rely on an insurance agent for your claim processing work, it is always a good idea to do it by yourself. These days, it is very easy to file a claim and if you have the documents in place, the claim will be settled smoothly too. So rather than relying on anyone else, take matters in your own hands and do the needful.

Choose a good insurer: Buy an insurance plan from an insurer who has a high claim settlement ratio. This is absolutely vital and will play a role in how your claim is processed later on.

Be honest and diligent: Most of the insurance claims are rejected because of discrepancies. So be absolutely honest when applying for the plan. You may have to pay a higher premium but if you are honest, you will have your claim in your hands in a smooth and quick manner. Also, pay the premiums on time and keep your policy functional because you never know when misfortune strikes and you need to make a claim.

Keep the points mentioned above in mind and follow the three steps to effectively get your insurance claim settled.

Choose wisely!

Also read: Most Common Pitfalls in Health Insurance Claim | Best Claim Settlement Ratio General Insurance Companies 2022-23 in India

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