This basic process involves obtaining satisfactory answers to the following questions before approving a claim:
- Was the policy in-force when the loss was incurred?
- Was the claimant actually covered by the policy?
- Is the policy contestable?
- What is the nature of the loss?
- Has the insured event occurred?
- What benefits are payable?
- Who receives the benefit?
This basic process involves obtaining satisfactory answers to the following questions before approving a claim:
- Was the life assured a key man in the business of the beneficiary in key man policies?
- Have all the requirements that have been requested been received?
- Have the necessary specialists been consulted on potentially contentious claims and claims which are to be declined.
