Finding Ways To Keep Up With Insurance

Types of ICC Insurance Claims Insurance is the process taken by an individual or a company to protect themselves from a financial loss.It is basically a risk management that shields an individual or a company against a certain loss.The selling of insurance is undertaken by a company or legal entity called the insurer or the insurance company.The insurance company sell the insurance to the insured or the policy holder.The transaction between the two is based that the insured pays small amount of money or premiums with the guarantee that the insurer will compensate in case the uncertain loss insured against occurs. The insurance policy is issued to the insured after the agreement and it contains the conditions and details of compensation.An insurance claim on the other hand is the request sent formally to the insurer by the policy holder asking for payment as per the conditions in the insurance policy.Before approving the payment, the insurance company will review the insurance claim sent.The insurance claim is paid by the insurer in order to cover or indemnify the insured against a financial loss. The various types of insurance claims include the life insurance claim, the property insurance claim and the health insurance claim. The health insurance claim are usually meant to prevent individuals or groups from financial damages that may be incurred from hospital bills.The health claims in most hospitals in the United states are automated thus patient do not file claims manually.Thus the insurance company pays the hospital on behalf of the policy holder. The health insurance and the property insurance are very different from each other.The policy holder is the one who files for the claim in the property insurance claim unlike in the health insurance claim.The representative of the insurance company or the adjuster will then receive the call or email from the policy holder.Once they call the adjuster they make a report of the damages to the property of the insured.The adjuster then makes a formal visit to investigate the cause and the extent of the damage.The conclusion remarks made after the investigation are then sent to the insurance company by the adjuster.Full compensation or payment for repairs is dependent on the damages incurred and also the conclusion remarks made by representative. Unlike the other insurance claims, this one is filed by the beneficiaries of the insured.The beneficiaries or claimant must take a written notification of death to the insurance company as soon as the policy holders passes on. The process of compensation then begins upon receiving the written notification from the claimant.The claimant indicates their name, the details of the insured, the cause of death and the date of death in the written intimation.The claimant is also supposed to deliver the death certificate of the insured, medical documents in case the insured was admitted in a hospital and the policy document. The 10 Best Resources For Insurance The 10 Best Resources For Insurance

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