Money Matters - Simplified

Claiming Insurance if you are Injured

200 people were killed in the Mumbai local train blasts recently. This tragedy has forced the people to rethink financially. Lots of questions are going on in their minds and the clouds of confusions have over shadowed the minds. People are bothered about the insurance of themselves and their families.

Because of all this, confusions and various issues have cropped in their minds.

In order to resolve such issues, here are some tips for you:

Buy the perfect and understandable insurance

Any kind of accident or injury caused by accident is covered by a comprehensive insurance policy. The finances needed for hospitalization and treatment are compensated under such insurance.

There are many clauses and exclusions underlying an insurance policy. While selecting the perfect insurance policy for you, these clauses and exclusions as well as the various terms and conditions of the company must be taken into consideration. Always compare the various insurance policies before finally choosing the one that suits your needs the best.

People usually have this misconception that they get automatically insured when they buy credit cards. But this is not so. The insurance offered by these are full of clauses and exclusions and strict terms and conditions.

Payment of the claim

After the submission of the necessary documents, payment of the insurance claim will take 15 days or a few weeks. The person who has to get the payment i.e. the nominee’s name should be clearly mentioned in the document. If this condition has not been fulfilled, then the nominee has to show succession certificates in order to get the claim.

The friends and family should be well aware of the place where all the necessary documents needed at the time of claim are. This helps in easy access and the one doesn’t have to search everywhere for the required documents when need be.

One should also take care that the premiums are paid on time. If this is not done, then the policy will lapse and claim against such policies is difficult.

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Claiming Insurance if you are Injured

Any kind of accident or injury caused by accident is covered by a comprehensive insurance policy. The finances needed for hospitalization and treatment are compensated under such insurance.