An insurance claim is a request made formally to an insurance company for compensation or coverage for a policy event or covered loss.
The claim is validated by the insurance company, and after approval, it issues the insured or an approved interested party payment on the insured’s behalf.
Insurance claims cover all ranging from insurance policies to death benefits among others. In lots of cases, third parties can file claims on the insured individual’s behalf, but typically, only the individual or individuals recorded on the policy are qualified to claim payments.
Health insurance claims
As opposed to health insurance claims, the policyholder has the responsibility of reporting damage of a property he owns. Dependent on the kind of claim, an adjuster assesses and inspect damage to property to determine payment. Once the adjuster verifies the damages, he kicks off the process of reimbursing or compensating the insured.
These need the submission of a death certificate, claims form and sometimes the real copy of the policy. The process, especially if it involves a policy with enormous value, would need the carrier to do an elaborate examination. This is to make sure that the insured doesn’t fall in a contract exclusion like death as a result of criminal act or suicide.