Read Your Policy Wording and your Policy Schedule

In the years that I have been in the Short Term Insurance Industry, I have experienced, and read in the newspapers, about clients that are unhappy with the way their claims has been dealt with. Not in all cases, but certainly in a high percentage of cases, it boils down to the fact that the client, received his Policy Wording and the policy schedule, accepted it as correct, and filed it.

Come to a claim they take out the document and there might have been an error or misunderstanding at the time the policy was taken out, leading to the claim not dealt with to the satisfaction of the client.

All of the frustration and inconvenience could have been avoided if the client on receipt, read his policy wording and policy schedule, and if some discrepancy was picked up, it could have been pointed out to the Insurer and corrected. In the days we still used the postal service, I had clients walking into my office with an unopened envelope, saying he/she had a claim, “Here is my policy”.

Clients, please read your wording.