Claims occur at the point where the policy matures or upon a death claim or surrenders. Maturities will be initiated by the company while death claims and surrenders are initiated by the policy holders.
Claims are subject to payment of all due premiums, production of the policy document, proof of title (with the onus being on the claimant), proof death on a death claim and proof of age of the deceased.
Claims underwriting involves establishing that the cause of death was covered under the policy and that the right amount is paid to the right person.
The claims process involves:
- Receiving of claims notification
- Receiving of claims support documents from the claimants
- Claims underwriting
- Notification of admission or not of the claim
- Discharge of policy
- Payment
