Claim Settle ment in Insurance : Explaining the Complete
I t is likely that when an insurance policy is purchased , someday , the claim for it will be made . Settling the claim is a crucial service rendered by insurance companies . For getting it settled , the claimant and the insurance policy company need to execute a process . The fastest claim settlement companies such as Hello Policy share that as a part of this process , first , an intimation for the claim has to be made by the claimant . Then certain documents in support of the claim and relating to the policy have to be collected . When the complete documents have been given , the insurance company will start working on certain processes to get the claim settled .
Beginning with the Intimation of Claim To make a claim, the policyholder needs to actively send an intimation the moment its need arises. The intimation has to be sent in writing. The sooner the intimation for the claim is made, the faster the insurance policy company will start with the process. When the intimation or notification is sent, the basic details of the claimant have to be sent. These details can include the insured person's name, the number of the policy, any dates involved, etc. Certain insurance companies can provide a notification or an intimation form. The form can be obtained by visiting the nearest office of the company from which the insurance policy has been purchased. Thus, instead of sending the intimation in writing, the form for it can be filled and submitted to the insurance company. It should also be known that the company you have chosen for getting insured may be providing this form online. You may have the option of downloading and submitting it through your browser.
Knowing the Documents Needed for Claim Settlement In cases wherein the claim is A s a part of the claim settlement process , the claimant will have to submit certain documents . These documents will be the ones that will relate to the basic details of the claimant . In addition , the documents will work in support of the reason due to which the claim is being made . These documents can comprise the original papers of the insurance policy , a copy of an FIR ( if needed ), and any certificates relating to the claimant .
being made and also any hospital bills or doctor fees are being paid, the medical records of the same will have to be submitted , as has been said by the fastest claim settlement companies like Hello Policy . In certain instances , the insurance policy companies asked for extra documents . These documents were asked depending upon the reason for which the claim was being made .
Getting the Insurance Claim Settled Once the intimation has been sent , the documents have been collected , and the final submission of the documents has been made, the claim can be finally settled . Now , the insurance company will start performing the procedures on its part. These procedures can be inclusive of verifying the documents , papers , records , and certificates that have been submitted to the insurance company .
A s a part of the claim settlement procedures , the insurance policy company may also check whether the reason thebe made Sometimes , the claimfor may claim . when is ancorrect accident has taken place or an injury has occurred . The fastest claim settlement companies explain that a person may have opted for a car insurance policy or a life insurance plan. When an accident has occurred , that person may want to claim the policy . Depending upon the type of the policy , the reason for claiming it may have to be verified by the insurance company .
When such procedures have been completed by the insurance company , getting the claim settled will not take much time. Soon , the claimant will be able to receive the expected amount provided that the documents are correct and the procedures have been successful .
When should the Claim be Filed ?
Prior to getting the claim settled for an insurance policy , it is important to k n o w when it has to be made . The claim should be made within a period of 3 0 days of the receipt of certain documents . These documents should be the ones that will be required by the insurance company of the claimant . I t should also be understood that the duration may not necessarily be the same for all the insurance companies . So, when you purchase a policy , you should always ask the company about the duration within which the claim has to be made .