|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Calculators: |
|
|
|
|
|
|
|
|
Resources: |
|
|
|
|
|
Site info: |
|
|
|
|
|
|
|
Health Insurance Secrets
There are a number of very important things that most people either don't know or just simply don't consider when buying or reviewing their health insurance plans.
Insuring against loss of income
An important part of stress-testing yourself involves imagining what would happen if your source of income were cut off. If you've done that and the answer scares you, there are various forms of insurance you can take out.
Bird Flu: What your insurance company hasn't told you!
Given that Public health officials and organisations around the world remain on high alert because of increasing concerns about the prospect of an influenza pandemic, which many experts believe to be inevitable, it's only natural that we've been flooded with questions from subscribers wanting to know whether their life, trauma, income protection, health and travel insurance policies will provide adequate protection in this event
Loss of income insurance: Case Study
Rebecca is a single, self-employed graphic designer who works from home. Aged in her mid-30s, she has monthly commitments of a mortgage and car payments and the usual living expenses.
Travel insurance
Travel insurance: Going overseas? Traveling Australia? You'll need travel insurance - but remember to check the fine print.
Insurance: Why worry?
If we want our plans to succeed we need to understand the factors that might hinder that success, risks, and, one way or another, make sure they don't get in our way.
Income protection insurance
It's trite but true to say that for most people, their most valuable asset is their ability to earn an income. But how relevant is income insurance to most Australians?
To insure ... or not to insure
A question oft posed by many a business or household is whether insurance is really worth the expense. After all, the "It'll never happen to me" syndrome (unless we're talking about death) always seems to strike at the hip pocket.
Top ten insurance questions
We get many, interesting questions from our subscribers each month about various aspects of insurance ... so we've compiled a top 10 list of insurance questions and answers that embody a broad range of situations - and we're sure you'll find them of value!
Insurance disputes
Just because your insurance company has rejected your claim ... doesn't necessarily mean your case is closed. If you think that you've been unfairly treated, here are some ways to get the insurer's decision overturned.
|
Top ten insurance questions
|
We get many, interesting questions from our subscribers each month about various aspects of insurance ... so we've compiled a top 10 list of insurance questions and answers that embody a broad range of situations - and we're sure you'll find them of value!
... continued below
More Insurance-related articles
Wills: Ready, Willing and Able
Planning for the future is something that many people put off ? particularly where writing a will is concerned. This is because, regardless of how old we get, no one likes to think of their demise. As such, we move through life often unconcerned for the long-term implications our short-term decisions may have on our future, or that of our family.
Business: Avoiding Loss with Proper Risk Management Strategies
Financial loss is something that no business wants to suffer, and many small business owners try to avoid downtime, expenses and accidents. But will insurance provide the total solution ? or is there more that?s needed to ensure business continuity?
Disability Insurance vs. Health Insurance
When faced with the option of whether to purchase disability insurance, many consumers say no without fully understanding the consequences of their decision.
Life Insurance: How much is enough?
When considering life insurance, you?re planning and preparing for an event most of us would rather not think about. But life insurance represents a critical step in managing your personal finances and ensuring your family?s well-being.
Women are the underdogs when it comes to insurance
Research released by the Investment and Financial Services Association in late September highlighted the fact that Australian women with dependent children had significantly less life insurance than their male counterparts.
Subscribe to our monthly MoneyTips newsletter for fresh new articles, tools and tips!
Top ten insurance questions ... continued from above
My insurance company did not send me a renewal for my policy. What can I do now that we have a burst pipe that has caused damage to our carpet?
Under the law your insurance continues under the same conditions. However, the insurance company may have evidence that the renewal was in fact sent, so make sure you didn't just forget to reinsure. Check out our fact sheets on settling insurance disputes if the insurer does not come to the party.Why should I tell my insurance company about something that has happened to me in the last twelve months, even if it increases their risk, if they do not ask it on the policy?
This will be part of your insurance policy. Sometimes the question is specifically asked e.g. whether you have modified your car in the last twelve months. If the question is not asked, and it is something you wish to keep confidential, you should get legal advice before the policy expires. Remember, if you do not disclose a material fact the insurance company may be able to avoid paying on a claim, so make sure you get advice.We suffered loss because of an accidental breakage in our house. The event is covered by the policy, but the damage was caused by one of my son's friends. Are we covered?
It depends on what the policy states. For instance, it is generally accepted that losses are covered if the damage is caused by family members living permanently in the house. To check out this situation ring the insurance company or your broker, read the policy carefully, and if the loss is significant and you are still not covered, you might want to seek legal advice.Is it possible to get insurance for my gardener? Can I add it to my home insurance?
Yes. You should get in touch with your insurance company or your broker and see what can be done. It is always a good idea to ensure that people working on your property are covered for accidents and other losses. However, first find out what sort of insurance the gardener carries.Will the insurer check all the details of my application for car insurance?
If not I might be able to hide the fact that I have had three accidents, all my fault, in the last year. In fact the insurer may not check the accuracy of the information you give, but it may mean that when you make a claim it will be refused. In other words, there is every possibility that the information will be checked at the time you make a claim, and therefore a serious possibility that payment will be legally rejected.Should I review my level of home insurance?
Yes, you should do this on a regular basis, especially with regard to the market value of the house.My car insurance application asks whether I have any traffic offences in the last five years. Surely they are not interested in my speeding fine last year?
You should declare any traffic offence, no matter how innocuous. If you do not do this there may be grounds to refuse a claim in the future. Better to be safe than sorry.I think I paid too much for my insurance. Can I complain to the IEC?
No, the IEC does not deal with these types of disputes.I got a favourable decision from the Insurance Enquiries And Complaints. However it took months from the time my original claim was rejected, and in the meantime I have had to rent furniture. Can I claim those expenses?
No. Unfortunately for you the IEC can only order interest be paid on the amount of the claim due to the delay.Do I have to pay the insurer if I lose at the Insurance Enquiries And Complaints?
No. This is one of the big advantages of the dispute resolution scheme.
Disclaimer:
The information contained above has been provided as a general
service. Any references to specific financial, legal, accounting, or
taxation issues are done so in the context of general information
and should not be relied upon as fact or construed as advice by the
us in any of these areas. You should consult a relevant financial,
legal, tax or accounting professional to assist in your particular
circumstance. |
| Knowledge Base |
Insurance Claim: Notification to an insurance company requesting payment of an amount due under the terms of the policy.
|
| Email This Article |
|
| Insurance Quotes |
Select from the list below for free comparative quotes from a big selection of Australia's leading and best known insurers:
|
Financial Calculators 3.0
Click here to download your copy now
|
|
