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 Posted: Sat Nov 11, 2006 4:58 am Post subject: Do I need to check my insurance status too often ? |
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Is it worth necessary that I check up the status of my insurance more often ??
My neighbor has been doing so once every year and she believes that I should follow her footsteps as well!
Malcom Jarvis
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Malcom Jarvis
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| Posted: Sat Nov 11, 2006 6:27 am Post subject: |
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Dear Malcom, its always important to take a look at your insurance policies once every two or three years just to know if you are at all maintaining the same insurance protection which you initially opted for. The right thing for you to do at this point of time would be to request a status report to your insurer once in atleast a couple of years even when you're paying up for the policy quite consistently.
Welcome to this forum!
Sasha T. |
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sasha
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Joined: 27 Mar 2006
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| Posted: Sat Nov 11, 2006 6:59 am Post subject: |
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Yup, its an absolute necessity now-a-days, more so in the case of life-insurance companies.
This is because these life insurance companies are often sold to other companies. This is the time when you don't even get a proper contact no. You may always get to the state dept. of insurance at this juncture and ask for the right contact no.
If this happens with you...don't waste any more time... immediately ask for a status report of your insurance as soon as possible. Ask them to send it in writing to your address... n on receiving this pls check if the new co. would be paying you the same amount as decided upon by the earlier one. In case of any discrepancies pls seek an explanation for the change.
Pls remember all that I mentioned over here.
take care..Fatman. |
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fatman
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| Posted: Sat Nov 11, 2006 7:20 am Post subject: |
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Hi, even if its not possible for you to check up with the current status of your policy every year, see that you do it atleast once in a couple of years. I'll explain why.
Just as someone has cited an example with the life insurance, similarly its just a general idea that we carry about our health policies as well!
Do you really know for sure as to how much amount you'd be covered for once you get under a critical disease?? You truly never know!
I agree that your healthcare program may have offered you coverage for a lot of treatments but incase it assumes a lot of deductibles and co-payments then actually its of no use to you...isn't it ?
So you need to check the actual coverage you'd derive from a policy and that can only be ascertained if you enquire about it in writing from time to time.
good luck, Arienne Murdoch
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Arienne Murdoch
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| Posted: Sat Nov 11, 2006 7:47 am Post subject: |
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hey! Why only thinking about possibilities!
Isn't it natural for you to ask for an increment in terms of the limits to protect your valuable assets eg. your car ?
Even when you're carrying a min 10/2010 liability limits, you could see an increment in your limits if you are doing well financially. So I see no harm if you take a look at your auto policy coverage amount every year. Hope you get me right.
Alicia Hope
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Alicia Hope
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| Posted: Sat Nov 11, 2006 9:07 am Post subject: |
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Well, as it may always hold true- its better you look before you leap.
I'm drunk, but still can say, getting knowledgeable about your coverage might see you win an extra bit of coverage n get equipped to face the financial turmoil when you file a claim!
get luckier, SpellO'wizkid
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SpellO'wizkid
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