There are many types of insurance. In Canada, employment insurance covers unemployed people who have recently lost their jobs. It contributes to the social welfare significantly, and as we can observe, the welfare system there guarantees the citizens to live prosperously. In other parts of the world, however, private insurance companies take the dominant role. The government does not provide full protection on education, pension, and healthcare. And although it diversifies the insurance business, it increases the risk of disputes occurrence.
Read the Policy Thoroughly
Reading through the policy points thoroughly before you sign on anything is a must. There are subtle agreements that have the potency to put you at a disadvantage in the future. Do not think that the company insurance is there to help you without interest. It is a business, and they must make profits.
In some countries, life and education insurance can only be passed down to relatives or a partner with whom the relationship is acknowledged by the authority. If your partnership is extramarital, your partner may or may not receive the benefit of the insurance, depending on the policy. Therefore, you must pay careful attention to matters such as this.
Maintain a Firm Case for the Claim
All insurance relies on the good faith between the holders and the provider. Each has the right to establish their narratives for a case and measure the tangibleness against the facts. And you must realize that even if you think you know what happens, the truth may be different from your version. And once there is an unmatched element of your story with the evidence, they can use it to scrape away your eligibility for the compensation.
As an example, if you experience an injury at work, do not tell anyone that you are okay. Work injury insurance is meant to cover any cuts, bruises, and soreness happening during the duty. Even a small wound can lead to a severe infection, and a little blow to the head may cause a concussion. Once you say you are okay, the insurance company will perceive it as your consent to stop receiving the compensation money. Therefore, put the work injury insurance to use, and don’t tell your employers that you are okay unless the doctor says so.
In significant cases where the compensation money is big, you must expect complex procedures and thorough investigation of your case. Real estates, luxury cars, or professional liability insurance sell their policies expensively. And in return, they also offer a significant amount of compensation money.
But in reality, once the condition that makes you eligible for the compensation money happens, the insurance company will do their best to minimize their responsibility.
Triangulate the Records
Your insurance collects their evidence, you collect yours, and your lawyer should assess the two sources. But just in case you do not want to involve a lawyer, what you can do instead is to seek expert observation as the third party assessor. For example, to claim an injury compensation, you can use the doctor or hospital’s record to evaluate whether the benefit you receive from the insurance company is proper and enough.
Do not believe only the case your company shows you. If you think some things are different from what happens, do not hesitate or be discouraged from building your case.