What is an Insurance Claim?

An insurance claim is the actual application for benefits provided by an insurance company. Policy holders must first file an insurance claim before any money can be disbursed to the hospital or repair shop or other contracted service. The insurance company may or may not approve the claim, based on their own assessment of the circumstances.Individuals who take out home, life, health, or automobile insurance policies must maintain regular payments called premiums to the insurers. Most of the time these premiums are used to settle another person’s insurance claim or to build up the available assets of the insurance company. But occasionally an accident will happen which causes real financial damage, such as a automobile wreck or a tornado or a work-related accident. At this point the injured policy holder has the right to file an insurance claim in order to receive money from the insurance company.

via What is an Insurance Claim?.

Leave a Reply

Baldwin Benaware
KC Benefit Services Discount Card
What’s going on?
November 2018
M T W T F S S
« Oct    
 1234
567891011
12131415161718
19202122232425
2627282930