If you had to pass away today, would your loved ones know how to claim from your life insurance policy?
You probably know where to find your life insurance policy. You know which company you’re insured with and who to contact if you have a question. But would your family?
Life insurance is there to provide financial support to the people you love if you’re no longer around. Making sure they know what to do and where to find important information can help reduce confusion at an already difficult time.
Here are a few simple things you can do today.
Keep Important Information in One Place
Create a secure physical or digital folder containing the information your family may need. This could include:
You don’t need to include passwords, PINs or other sensitive information. Instead, make it clear where important documents can be found and how they can be accessed.
Make Sure Someone Knows About Your Life Insurance
A life insurance policy isn’t much help if nobody knows it exists. Tell a trusted family member that you have life cover, which insurer your policy is with and where you keep your policy information. It’s also worth checking that your nominated beneficiaries are still correct.
But MiWayLife also understands that sometimes a family may not even know that a policy exists or that they need to submit a claim. That’s why we’ve introduced a Pre-Emptive Claims Process designed to proactively identify potential claims.
By reviewing billing reports, we can identify instances where premiums have been returned unpaid because a policyholder has passed away. If no claim has been submitted, we can trace and contact the beneficiaries directly to help them start the claims process.
Keep Your Emergency Contacts Up to Date
Choose one or two trusted people who know where your important information is kept and who to contact if something happens to you.
Check the emergency contact saved on your phone too. Phone numbers, relationships and circumstances can change, so reviewing these details every year is a useful habit.
Make the Claims Process Easier for Your Family
When someone passes away, their loved ones are already dealing with a lot. Having the right information available can make the life insurance claims process less confusing.
If you have a MiWayLife policy, we aim to make the claims process as straightforward as possible. Beneficiaries can complete claim forms with assistance over the phone and get guidance on how to obtain important paperwork, such as a death certificate. They only need to provide the required supporting documents, helping to reduce paperwork and unnecessary back-and-forth.
The Bottom Line
You can’t make every difficult moment easier for your family. But you can make sure they aren’t left searching through piles of paperwork and wondering what to do next.
And with MiWayLife, your loved ones won’t have to navigate the claims process alone. They’ll have guidance to help them understand what happens next.
No life insurance? Let’s change that today. Get a quick obligation-free quote from MiWayLife and let us impress you with our affordable premiums.
Did You Know:
You can now take out life cover with us online in a few simple steps. No calls and no agents! Make sure to take care of those you love today by buying MiWayLife cover online.
