Once you have purchased your choice of personal accident insurance, it would only be natural for you to be questioning the way these policies work and want to learn the correct procedure for your convenience.
Here are some important things to note in order to make your personal accident claims hassle free, as well as few reasons why your claim may have troubles being approved by the insurance company.
How to make your personal accident insurance claim?
The claim against your insurance company will be a frustrating process if you don't prepare the necessary materials needed, or if you are not familiar with the procedures. It is advisable to know at least the basics for death claims and injury claims.
In case of an injury that is covered under your policy, you will have to notify the insurance company and acquire the claim form. Fill in the details and attach with it the required medical reports, bills, along with other documents pertaining to your injury. Note that time is crucial, and a lapse of time in getting your claim done may cause you hardship too. So be wary of the terms in the policy regarding the time frame and other conditions.
To proceed with a death claim, it is important to submit the police reports and all relevant documents to the insurance company. Also, the claim form should be filled up along with the required documents (such as the death certificate in this case). It is important that the person submitting these documents do a quick assessment to avoid the claim being rejected or delayed.
What are the main factors for your claim to be rejected?
The lack of material information. Your supporting documents attached with your claims are probably the most crucial aspect for your claims. These documents are the source of evidence and when there is no sufficient material to prove your claim, it is difficult for the insurance company to compensate you. Worse, if your information is misleading or wrong, your claim can altogether be void. There are even numerous situations, where these parties are faced with a legal action.
Misunderstanding on the part of the policy holder. You claim for something you are not even covered for. It won't come as a surprise that there are cases where the insured's illness or injury is not protected under the policy. The exclusion clauses should therefore be read thoroughly and understood perfectly. Ignorance on your part clearly will not be the responsibility of the insurance company.
What if you're not satisfied with the claim?
If you find yourself still dissatisfied with the claim's settlement or with its failure to compensate you, there are other alternatives to seek help:
Lodge a complaint. You may write about your complaint to the Corporate Communications Department of Bank Negara Malaysia. Alternatively, submit the complaint to the Financial Mediation Bureau.
Seek legal help. If you still feel prejudiced or if there is a breach of contract; the other resort would be the court. Either way, if you have a rightful claim then you'd have nothing to worry about.