One thing that goes hand in hand with life cover is understanding how the claim process works. It's something both you and your loved ones need to know in order to make the process easy and smooth for when the time comes to lodge a claim.

Have the necessary documents on hand

Having life cover can ensure that after you have buried your loved one, you will still be able to feel their financial support when they are no longer around. However, it helps to know how to lodge a claim without having it denied or delayed due to incomplete documentation.

Most insurers have a minimum requirement for documents that need to be submitted to process a claim. Some of the minimum requirements are: 

A fully completed claim form

A certified copy of the Death Certificate

A fully completed DHA -1663 form

Certified copies of the ID of the main life or all beneficiary(ies)

3 months bank statements for all beneficiary(ies)

Police report in case of an unnatural death

Keeping these documents in one place can make it less stressful when it comes to lodging your claim.

Inform your insurer to start processing the claim

Telling a trusted family member, a friend, or your spouse about your life cover will help you avoid having a situation where it remains unclaimed. This can also make it easier for your loved ones to begin the process of lodging the claim with your insurer.

Having the necessary documents can make the process easier for your insurer to start processing the pay-out. Your insurer may require additional documents which they will inform you of. Many policies have a funeral benefit embedded into it which can be paid out between 24 and 48 hours to help you proceed with the funeral arrangements.

What will happen after you have lodged a claim

Should you be lodging your claim while you are faced with a terminal illness then you have the option to claim 50% or 100% of the life cover amount.

If the policy comes with an accelerated funeral benefit, and you have submitted the required claim information, payment will be made within 48 hours. This could be 10% of the life cover amount and the rest will be paid out later.

Keeping the policy up to date is also something that can keep your policy active. Remember to update your policy to keep up with your life changes.