The main purpose of insurance companies is to provide future benefits whenever you are suffering from the crisis. Before choosing a Life insurance plan company showed you about the policies that give you future benefits and you can claim benefits from the company either it is for auto, health or life insurance. Whenever you need insurance benefits then you need to file a case regarding your query in which you have to mention regarding your insurance. It depends on companies because sometimes place where you are claiming insurance is not on the panel of that particular insurance company. There are policies of the company which they elaborate you at the time of choosing a plan because every company has their own policies after filing a case they need to check either you are meeting their requirements or not.
After choosing an insurance plan you need to pay monthly payments in terms of installments to the particular insurance company. The payments that policyholder is paying to the company is known and premiums. The company uses these payments to claim another insurance plan. An incident can happen just like an accident. After this incident, you can file a case to claim insurance in order to receive money from the particular company and this can be for only those people who are policyholder of the company.
Whenever you file a case to claim insurance company employee is responsible for investigating this claim because they need to investigate regarding your insurance claim. After investigating they started bargaining from the main insurance company. If an accident happens and another person is ready to pay for little damage then policyholder sometimes cannot file a case to claim insurance money.
Although there are reasons for many insurance claims which company may not pay which are as follows:
- Sometimes the installment payment may not have paid by policyholder
- Insurance may be inactive
- If an incident happens by natural disaster then insurance company has a right to hold your money
- There are conditions of every company, being a policyholder you need to follow those conditions if this does not happen then insurance may not claim
If you are going to choose an insurance plan then you need to read this entire article in which they have to take care of before and after choosing a plan.