Every life insurance policy has a list of things outside of your protection plan. This is called an exception. Examples of accidents are something that is not included as dependents such as extreme sports, suicide or if you hurt yourself or violate legal provisions. However, on the market is now beginning to circulate some insurance companies are competing in shrinking the context of exceptions. If data discrepancies or offers are found in the policy summary, then we can take advantage of the time (around 7 to 14 days from the date of issue of the policy) as a learning right about the policy or cooling-off period. The things related to Cooling Off Period are also contained in the policy. During this period, customers can cancel the policy without being penalized by a penny and the money that has been deposited can be returned in its entirety.
If a change or cancellation of an insurance policy occurs after the cooling-off period is over, then accept the consequences in accordance with the clause in the insurance policy, including fines for cancellation fees. Therefore, make sure that during this time, the policy is in hand. Pay attention to every rule in the policy, including the requirements for protection for customers. Is the present condition the same as the insurance policy purchased? Has the completeness of the personal data details been fulfilled? Are all data filling correct and accountable? It is intended as a form of statement that we are indeed living in certain health conditions in accordance with those contained in the policy.
This is important because it is one of the determinants of success in claiming insurance benefits. Do not arrive because there is data that is different from the provisions of your policy or the beneficiary party becomes an obstacle in claiming insurance benefits. In order to avoid mistakes regarding the provisions in the insurance policy, especially in the scope of the guarantee, insurance protection, additional facilities, insurance period and discounted costs, this needs to be discussed first with insurance market staff before the process of further insurance. Try asking for an example of a current policy, study and discuss about terms that are difficult to understand, then try to compare with information found through the internet. Then adjust it with the aim of insurance.
The insurance policy is final and binding, so protection in the policy must be ensured in accordance with what is needed. We can even design it ourselves. For more details, ask for a copy of an insurance policy so that it can be studied at home. If necessary, discuss it further with the insurance regarding each point in the insurance policy. The more you understand it, the more you are right in determining the course of insurance in the future. It is not easy to understand the contents of the insurance policy. However, we must try to understand each content well. This is to avoid any form of loss that might occur due to our misunderstanding of the contents of the insurance policy. Through the steps outlined above, hopefully you can easily understand the contents of the insurance policy before buying it.