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Avoid these common causes of delays and make sure your loved ones receive the funds they need, when they need them:
- Submitting unclear or unreadable documents
- Leaving out important sections on claim forms
- Not submitting all the required documents
- Naming a minor as a beneficiary
- Beneficiaries not knowing how to claim
At 1Life Insurance, our claims team works hard to ensure valid claims are settled as soon as possible, because we know how important policy pay-outs are to your family. However, there are times when the process can be held up. We chatted to the team about the top 5 reasons for these delays and the practical steps you can take to make sure your family’s claims are paid quickly and easily.
Not submitting clear documents
Technology makes it so easy to submit claim documents. A quick photo with your phone or a scan from a home printer can be uploaded or emailed in minutes. But if the image is blurred, too dark or parts of the document are cut off, the claims consultant has no choice but to ask for a better copy. That back-and-forth adds days to the process. Think of it this way: the clearer your documents, the faster your claim can move from submission to assessment.
Incomplete claims forms
Incomplete forms are one of the most common reasons for claims delays, when even one missing signature or unanswered question can cause unnecessary delays.
Not submitting all the required documents
Our claims team might ask for additional documents when processing claims. Delays in receiving these documents can significantly delay the claim assessment process. Submit any documents or reports requested by 1Life within the given timeframe to avoid delays.
We will also request documents from third parties, including medical reports from doctors, hospital files from government hospitals and SAPS investigation reports if the death was unnatural. It can take time for us to receive requested documents and reports, particularly reports from healthcare practitioners and institutions such as public hospitals. We follow up regularly on reports requested but not yet received. Delays in receiving these will delay the claim.
The beneficiary is a minor
Minors, those under the age of 18, cannot be paid the proceeds from an insurance policy. That can only happen once they are 18 years old. This doesn’t mean your children can’t benefit. It just means you need to plan ahead and set up a trust that will come into effect on your death and will manage the proceeds of a valid claim pay-out and ensure the funds are used according to the wishes and instructions as outlined in the trust documents.
You should consult a financial adviser, lawyer or fiduciary expert to help you set up a trust
Loved ones not knowing how to claim
One of the most heartbreaking reasons for delayed or unpaid claims is that beneficiaries don’t know they can claim or how to claim.
An estimated R17 billion rands in insurance pay-outs are unclaimed in South Africa.
A policy only helps if the right people know about it. You might be diligent about paying premiums, but if your family doesn’t know who to contact or what to submit, your loved ones will have to make do without the funds that were meant for them.
The more your family knows now, the easier the process will be later. For more details, read this blog.
Secure your family’s future
At 1Life Insurance, we want every valid claim to be paid quickly. You can do your part by preparing today, so your loved ones have the funds they need tomorrow.