Claiming on your life insurance policy
 | When something bad happens, you naturally want to race out and claim on your insurance as soon as possible. After all, that's what it's for. |
When something bad happens, you naturally want to race out and claim on your insurance as soon as possible. After all, that's what it's for.
However, your insurer must make sure your claim is valid to protect other policy holders from paying higher premiums, and the company's shareholders from losing capital due to paying false claims.
Here's how you can satisfy your insurer's requirements and maximise the success of your claim:
Things to think about before you claim
Does your injury meet the definition of 'disability'?
To claim under particular life insurance policies such as income protection and TPD policies, you must prove that you satisfy the definition of 'disability' in the policy. While there are differences between policies, typically you will have to prove that you are not able to return to work in some way. You may have to show you cannot return to work part time or full time depending on how 'disability' is defined in your policy.
What reports do you need?
People often send their insurer medical reports they got for other purposes, for example, for workers' compensation or Centrelink claims. The criteria for making these types of claims will almost certainly be very different from those in the insurance policy.
Therefore, these reports do not help your insurer decide one way or the other whether you are 'disabled' under the policy. It is always better to get a copy of the definition of disability from your policy and ask your treating doctors for a report that addresses the specific wording of the definition.
Are you seeing the right doctor?
Insurers often refer you for examinations to a doctor of their choice. These doctors may be inappropriate because they:
- see you only for a limited period
- may not specialise in occupational rehabilitation, and therefore cannot give expert advice about whether or not you can go back to work.
| TIP! | Make sure the qualifications or expertise of the doctors who give opinions are appropriate to your case. If necessary, arrange to see another doctor. |
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FIDO Website: Printed 02/10/2010
