Life Insurance Online Claims: Don’t Make Mistakes

If you’re looking into life insurance, it’s because you want to leave your loved ones with financial support when you pass. There are many options out there that can provide you and your family with great life insurance cover online and usually, they’re easy to apply for. However, sometimes people can make mistakes which can jeopardise their chances of getting the best cover possible and claiming successfully when things go wrong.

This is why....

1. Leaving Out Important Information

When filling out the application form, you need to be careful to include everything possible about the following:

  • Your age.

  • You occupation.

  • Your lifestyle habits (e.g. smoker/non-smoker).

  • Any medical conditions you are asked about throughout the application.

These factors are extremely important in getting correct, and if filled out incorrectly can affect your premiums, or even worse, get you rejected from the claim altogether. If you actively withhold information from your insurer when applying this may be deemed as fraudulent and could lead to a suspension of policy benefits. 

The most important aspect of the application form is health and lifestyle. Concealing any pre-existing medical conditions may again lead to rejection from the cover. It is important to be explicit with your entries because your lifestyle and health will dictate your premiums.

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2. Forgetting To Mention Existing Policies 

A common mistake individuals make is not mentioning any existing life insurance policies which they may be a part of. This is either due to the fact that people forget to mention these, or they’re just too lazy to fill out all of this information. Either way, failing to mention this in the application form can lead to rejection.

3. Not Paying The Premiums

Sometimes people make the mistake of not paying their monthly premiums. However, insurance providers usually give a 30-day grace period for you to pay. In some cases, it may even be 60 days. But, if it has been a long time and you haven’t paid the premium, your policy may become lapsed and you may have to reapply, go through another medical examination or at the very least complete a Declaration of Health. The main thing to remember is, if you pass away when your life insurance has lapsed, then your loved ones won’t receive the payout.

4. Death Due To Risky Behaviour Or Suicide

This is not necessarily a mistake to make when filling out the application form, however it is an important thing to consider. Most insurers have clauses in place that deter people who are thinking about committing suicide from claiming life insurance, such as a 1 or 2 year exclusionary period, meaning that your beneficiaries will not receive the payout if you were to commit suicide during that time period.  

As well as this, if you have a high-risk hobby and this isn’t disclosed to your insurer when filling out the application, then your beneficiaries may not receive the payout if you pass away when partaking in said hobby. This may be hobbies such as sky-diving or rock climbing.

Speak to the experts...

Give our advisers a call today.

Our team of friendly and professional advisers are on hand to help with any questions you may have regarding Life Insurance.

The advisers can also make recommendations tailored to your current situation and will research the market on your behalf, ensuring you secure the cover you need and supporting you every step of the way. 

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