Must read! 5 important things you need to know about policy claims

Delays in claims cause frustration and financial stress! Don’t let it happen to you and your loved ones. These 5 important things to know about funeral and life insurance claims will help you submit your claim so it can be verified and assessed quickly.

How to submit a claim

Knowing how to submit a claim allows for a smoother claims process.

You can submit your 1Life Insurance claim:

• Online on our website, or
• Via email on [email protected] for funeral claims and [email protected] for life cover claims, or
• Call us on 0860 10 51 96, or
• Request a call me back so one of our skilled consultants can contact you and start your claim.

When you notify us of a claim, we will assign a dedicated claims consultant who will explain the process, advise what forms you need to complete and what documentation is required. They will also keep you updated on the progress of the claim.

Know what documents you need to submit a claim

Each claim is individually assessed so the documentation required for each claim may differ, however all claims need the following information and documents:

• The policy number
• Your ID number and/or copy of ID
• Your contact details
• The deceased’s ID number and copy of ID
• Death certificate
• Bank confirmation letter or bank statements not older than 3 months for the beneficiary or beneficiaries on a life policy, or beneficiary or main member on a funeral policy

Download the How to claim on a 1Life policy for all the details on how to claim and 1Life Insurance’s claims procedure.

Know how long it takes to pay claims

We want to pay claims as quickly as possible, but we need to verify that the claim is valid and that we pay the claim proceeds to the correct beneficiary or main member. Which means we do need time to assess the claim.

When we have all the documentation we require, have assessed the claim, and the claim has been approved, it can then be paid. Valid funeral claims are paid within 24 hours.

If you have any complaints about the process for your claim, you can contact us on [email protected]. If you are not satisfied with the response, you can refer the matter to the relevant Ombud. You can read more about the complaints procedure and find contact details of complaints officers and Ombuds on our complaints process website page.

Avoid common claims mistakes

Common claims mistakes cause delays, leaving loved ones without the funds they need. Many of these mistakes can be avoided!

What you need to know when you nominate minor(s) as beneficiaries

Minors cannot legally take possession of an inheritance until they turn 18 years old. If they are named as a beneficiary on an insurance policy the proceeds cannot be paid to them. If you have named a minor beneficiary on a life or funeral policy, make sure your will specifies that a trust will be established to manage the funds on their behalf. Your financial adviser or lawyer can assist with this. If no trust is mentioned in the will, the proceeds will be paid into a trust of the legal guardian’s choosing. If no legal guardian is mentioned in the will, all claim proceeds will be paid into the Guardians’ Fund.

Read more on How to choose the right policy beneficiary.

Be aware of claims in waiting periods

Claiming in a waiting period is one of the main reasons why funeral claims are declined. Waiting periods are the time in which the policy is in force and premiums are due, but benefits are not payable. Funeral policies have a 6-month waiting period, and six months’ premiums paid, for claims due to natural deaths. You can read more about waiting periods in this blog.

Pay premiums when they are due

Premiums need to be paid when they are due for claims to be paid quickly! Outstanding premiums on a policy may results in a claim being declined.

Claim in good time

Claims for life and funeral policies must be submitted within 6 months of the death of the life assured or member. Late claims are assessed, but there will definitely be delays and claims may be declined!

Make sure your beneficiary knows the policy details and how to claim

There are billions of rands in unclaimed policies in South Africa! Often, simply because the beneficiary or family don’t know there is a policy or how to claim. Talk with your family and any policy beneficiaries at least once a year, so they know what policies you have and how they can claim.

Your policy pay-out can change your loved ones’ lives

You want your policy to change your loved ones’ lives – and it can! Avoid common claims mistakes by making sure your family knows how to claim and how the claims procedure works, and your policy pay-out will secure their financial future!