Claim time can be a stressful time for anyone, but it's also when the value of having insurance really comes to life. So here are some pointers to help you make the most of your cover - by knowing when to claim on it.
1.4 billion reasons (a year) to keep reading
Sometimes statistics speak thousands (or even billions) of words, so let's start with some good ones.
According to the Financial Services Council, every year the personal insurance industry pays out on average over $1.4 billion in claims. That's $4 million being paid out to insured Kiwis every day in the form of life, trauma, health, income protection and more.
It's an impressive amount, showing the importance of having appropriate cover in place. But remember: when it comes to protecting your future, taking out cover is a good first step. As time passes, every now and then it's essential to get a refresher of what you have in place. Which brings us to the next point...
How well do you know your cover?
Not sure about what's covered and what's not? Perhaps it's been a while since you've taken out or reviewed your cover, and you've forgotten the ins and outs?
If you'd like to make the most of claim time, getting familiar with your insurance plan is the way to go. Of course, the small print contains all the answers, but with so much detail and jargon to make sense of, finding what you're searching for isn't always straightforward.
Our LifeDirect advisers are available to help you navigate your policy, explain how to get the most out of your benefits, and ensure you don't miss out on a claim.
Not sure if you can claim?
You don't know until you ask. As we said, it's not always easy to immediately recall the details of your insurance and what you are covered for, especially if you haven't thought about it in a long time.
That's why we recommend checking in with us:
- on a regular basis (ideally, once a year) and
- whenever you suffer an accident or have a 'health scare'.
Depending on your policy, you may find out that you can claim on a previous diagnosis or medical event, no matter how irrelevant or unrelated it may seem. Also, your insurance plan may include extra benefits or conditions that you don't remember having - we can help you ensure you don't miss out on any entitlements.
Need help? We're in your corner
Time to claim? Or would you like to get a refresher of what you're covered for? Our friendly LifeDirect advisers are here for any questions you may have. Give us a call on 0800 800 400 or message us here and we'll get back to you in a tick.
Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current developments or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.
