I have been helping deal with a few insurance claims for clients over the past while… and they are not finished yet. Insurance claims, both in the long term industry and short term industry, are subject to massive fraud problems. So I always find that the insurance company will check to the last detail that the claim is valid and will then pay to the letter of the policy document. In a way this is good and correct. I always say that you do not want your insurance company – or medical aid for that matter – to pay out if they shouldn’t have to. Because they must look after their funds so that they can pay you out when they should.
But it is always a tedious admin job. Forms, statements, medical reports… etc. However when the payments come through, then its good. They are grudge debit orders on our bank accounts. But they are there for a purpose. I learnt last week of a young father, a farm manager, who died while driving a truck here in the midlands. The brakes failed. He leaves a wife and two small children. While an insurance claim won’t bring him back, it would provide massive financial relief. I don’t know if he had this. But when I hear of it, I know why I have this expense.