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Loan payment protection insurance -
Making a claim
The general procedures involved for most claim types are outlined below, obviously this may vary from insurer to insurer, and so this must be taken only as a general guid to what is involved.
You must initially contact your lender and request a claim form within 30 days of becoming unemployed or disabled or as soon as reasonably possible. In the event of a critical illness condition when you, or the person or people wanting to make a claim, send in the claim form to your insurer, you must give your certificate reference and state under which section you are making a claim. In the event of your death your representative must contact the insurer as soon as reasonably possible.
You will then receive a claim form (or in the event of your death your
representative). You (or your representative) will need to fill this in
and return it to your insurer as soon as reasonably possible, giving them
all the information they ask for so they can process your claim. You (or
your representative) will be responsible for giving them the proof we
need. If you delay in sending in a claim to the insurer it may make your
claim harder to confirm. It could also lead to a delay in paying your
claim or not paying your claim at all. For disability claims you must
allow access to your medical records as defined by the Access to Medical
Records Act 1988 and if the insurer wants you to have a medical you must
have one, or they may refuse to pay your claim. They will usually pay
any costs involved for the medical.
The benefit will be paid when the insurer receives satisfactory evidence of your entitlement to claim. Throughout the period for which you claim under your contract the insurer will need you to provide evidence for your claim. Benefit will not be paid for any period of disability or unemployment for which you do not provide evidence. Once a claim has been accepted, usually the insurer will either pay your outstanding loan amount or for disability or unemployment pay your selected benefit for the month passed.