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HOW TO ENSURE YOUR CLAIM IS NOT REJECTED You need to get things right when you take out a policy as well as when you claim if the cover is to work as it should, explains ANTON KEET THE pay-out from life insurance or disability or dread disease cover can help you and your family cope financially in difficult times. But if an important detail is not disclosed – even if it was not intentional – this may lead to a claim being rejected by the insurance company. If you claim for a benefit you are not entitled to, that’s insurance fraud. This might be deliberate – falsifying documents, for instance – but it may also be the unintentional non-disclosure of important information. As much as 60% of the claims declined by life insurance companies belonging to the Association for Savings and Investments SA were not paid because there was non-disclosure
of some form by the policyholder. In many cases, the non-disclosure was inadvertent. It really is important to disclose everything when you take out a policy. When it comes to full disclosure, there is never too much information. You need to consider your claim history and your medical history – as well as that of your family. HEALTH INFORMATION Most insurers need a full and accurate picture of your health and lifestyle past and present as well as an HIV test when you apply for the cover. This is what they base your premiums on. Most insurers will, however, also require you to keep them updated of any changes
to your health and will also ask about your health when there is a claim on a policy. Be sure to ask your insurer what health information they need to know and when. Such information includes: ♦ Having a chronic illness such as diabetes, hypertension (high blood pressure), high cholesterol or heart disease, asthma or arthritis; ♦ Depression that requires treatment or care; ♦ Chronic pain, such as back pain, that you regularly selfmedicate for; ♦ Previous illnesses such as Covid19, cancer, or a heart attack, even if you have fully recovered; and ♦ Your family history of serious illnesses such as cancer or heart disease.
