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Insurance claim |
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Insurance claimA claim for reimbursement from the insurance company when the insured has suffered a loss that is covered under an insurance policy.Insurance claim Similar MatchesTravel insuranceTravel insuranceInsurance which gives cover to people travelling usually to foreign countries on holidays or business travel. Some of the benefits include reimbursement for medical expenses, loss of luggage and money, cancellation or curtailment, departure delay and loss of passport etc. Lump sums are payable for personal accident covering death, loss of limbs or eyes or permanent disablement. Certain legal expenses for claims against a third party causing injury to the insured are also payable plus personal liability cover if the insured causes injury to a third party or their property. The maximum amounts of cover for all the above cases are stipulated by the insurers. ReinsuranceReinsuranceThe transferring of a portion of the liability to other insurers. Example: Insurer A insures for $200,000, A insures for $100,000 and reinsures the "second" $100,000 through B insurer, The "first" $100,000 is called "primary liability." Guaranteed renewable policy insuranceGuaranteed renewable policy insuranceA type of insurance policy that requires the insurer to renew the policy to an individual regardless of health changes. No changes may be made to an individual policyholder unless the same change is applied to all policyholders. Insurance excessInsurance excessApplies to an insurance claim and is simply the first part of any claim that must be covered by yourself. This can range from £50 to £1000 or higher. Increasing your excess can significantly reduce your premium. On the other hand, a waiver can sometimes be paid to eliminate any excess at all. Always check the excess in your policy. National InsuranceNational InsuranceA form of taxation, payable by employees, employers and the self employed, which is notionally to fund state benefits including pensions, sickness, unemployment and maternity. It is part of the state's social security system and ultimately controlled by the Department of Social Security. Further SuggestionsPrivate Medical Insurancewhole life insurance Named perils insurance uninsured motorist insurance Insurance principle insurance Mortgage Life Insurance Federal Deposit Insurance Corporation (fdic) contents insurance Annual renewable term insurance non participating life insurance policy Group insurance convertible term insurance Title insurance National Insurance Pension (State Pension) National Insurance (NI) Contributions Insurance dividend Financial guarantee insurance cash value life insurance Insurance premium universal life insurance Interest sensitive insurance policy Marine Cargo Insurance keyman / keywoman insurance Term insurance |
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