“Also take extra precautionary measures and avoid illegal and irresponsible behaviour or doing anything that may result in your insurer delaying to process your claims,” cautions Bromfield.The Ministry of Transport found that human factors mostly contributed to the road accidents, including jaywalking, speeding, overtaking on the wrong side of the road, hit and runs, as well as drunk driving.
“For example, FNB Life is continuously looking for ways to reduce the amount of time that customers wait for their payout. However, while we currently pay about 80% of claims within a day of receiving all documentation, it is essential that our customers’ policy documents reflect the most accurate and up-to-date information, in order for us to fast-track the process.”He says just because your monthly debit order goes off every month, it does not mean you do not need to update your policy. If there has been any change in your personal details such as marital status, address, contact details and beneficiaries, you should update your policy. Furthermore, also make sure that the cover amount is still sufficient, as your personal circumstances may have changed. For example, having a bigger family and, therefore, more financial responsibilities.
“Before going on that well-deserved holiday, take a few minutes to review and update your funeral or life policy and have peace of mind knowing that you and your family will be adequately covered in the event of an accident,” concludes Bromfield.Reviewing your insurance policy (or policies) should be your first point of action as the year comes to a close. Make it a priority this December holiday before the festivities sweep you away.