What do I have to tell the insurer when I am filling in my application form?
- You must answer all questions fully and honestly
- Consider the importance of the 'catch all' questions which
normally ask for information on 'any other illness or ailment
not already mentioned' - this is your opportunity to think of
anything that you haven't already disclosed or any medical problem
that hasn't already been covered with a question
- When in doubt always disclose! It is far better for the
insurer to have too much information than not enough
What happens if I apply for my insurance and then a few months later remember that I forgot to mention an illness or injury that I have?
The best thing to do here is to contact your adviser or the
insurance company straight away and give them all of the details in
writing. The insurer will then assess your cover based on
this new information and may need to amend the terms, this will
depend on the when the illness or injury happened and what the
illness or injury is.
How do I know which insurance company is the best one for me?
Use an adviser. An insurance adviser has specialised
knowledge and can advise you on which product will best suit your
needs. They can also help you to identify what your needs
might be. Finally they can arrange with the insurance company
to put your cover in place. At BRAVEday
there is the added benefit of CLAIMS. We handle this process
for our clients and are there for them when they need us most - at
claim time!
How much insurance should I have?
There is no right or wrong answer here - the best question is
what do you need in an 'ideal world' and then can you afford the
premiums for this cover? If not then only you can judge which
areas should be trimmed back so that the premium remains within
your budget.
What is a pre-existing condition?
A pre-existing condition is an illness or injury that you
are aware of and know about prior to taking out insurance
cover. Generally companies specifically exclude cover for
pre-existing conditions and any associated treatment as they pose a
higher risk to the company and a greater potential that a claim
will be made.
What is a premium?
A premium is the payment you make to keep your insurance policy
active and your cover in force. This payment is made to the
insurance company who provides you with the cover. In return
for you paying them a premium the insurance company carries your
financial risk for the benefits you have taken cover out on.
What is waiver of premium?
When this is not a built in benefit (as with Income Protection)
you can choose to add this for an additional cost. It means
that if you are unable to work due to sickness or injury the
insurance company will waive your premiums for your other insurance
benefits e.g. Life Insurance.
What happens if I need to change the ownership of my insurance policy?
There is a change of ownership form included in your original
policy documents. This needs to be signed by the existing
owner and the new owner (original signatures) and forwarded to the
insurance company along with the original policy document. If
the original document has been misplaced or destroyed a replacement
document can be provided.
What happens if I lose or misplace my policy document?
Contact your adviser or the insurance company and they will send
out a 'lost policy form'. Once you have completed this and
sent it back to the insurance company they will issue you with a
replacement documents. Note, there may be a small cost for
this.
How do I make a claim?
Medical claims:
- For medical claims you can download a claim form from our
website for your insurance company. You need to fill it in
and attach any required documentation and then send it off to the
insurance company - or as a BRAVEday client you
can send it to us and we will forward it on for you.
Life / Trauma Cover / Total & Permanent Disablement / Income
Protection claims:
- Contact your adviser immediately and they will request the
appropriate documentation and help you to complete it.
Do I need to have a medical for my insurance?
Depending on your age and how much cover you require you may
have to have a medical. If you do need to have a medical we
suggest that you view it as an opportunity to have a free 'WOF -
warrant of fitness' and view it as a positive not a negative.
Why is what I do for a job important to the insurance company?
Insurance companies assess different jobs as having different
levels of risk - for example a person who sits in an office
statistically has a much lower risk of being unable to work than a
builder who is out and about, lifting and doing physical work.
What if I start smoking after taking out my policy – do I need to tell the insurance company?
No, you do not need to tell the insurer. When your policy
is taken out it is a 'snapshot' of your current habits and
activities and you are underwritten based on these habits and
activities. Consequently, if you take up smoking after the
policy is taken out it is not relevant. However, for any
additional cover you will be classified as a smoker.
What if I take up a hazardous pursuit after taking out my policy – do I need to tell the insurance company?
No, for the same reasons stated above.