There is a widely discussed myth that ‘Insurance companies don’t pay’. Whilst everyone seems to have a neighbour, aunty, or acquaintance who supposedly missed out on a claim, this simply is not true - insurance companies DO pay, when you fully disclose your situation from the start.
The reality is that full disclosure is the key. If you fail to disclose a family history of medical issues, a previous illness or your smoking status, the insurance company will not cover you if things hit the proverbial fan. It is an even bigger issue nowadays as many insurance companies offer online forms or automated services, and this means that you can easily miss disclosing certain information through either forgetting or downplaying the situation. Consequently, even though you are not trying to deceive the insurance company, this means that you have still not fully disclosed all the required information, and that your claim could be denied.
The beauty of working with an adviser is the fact that they know the industry inside and out. By knowing what questions to ask, they will do their best to help you complete the applications to the best of your ability and ensure full disclosure to the insurance company - meaning no surprises at claim time. Whilst some conditions may not be covered, the adviser can ‘go into bat’ for the client and have the chance to negotiate better terms than one could get through an automated service or online form.
The Cooney Insurance team prides themselves on having strong relationships with the insurance companies, allowing for robust discussions and great terms. If there is an issue within family or medical history, the team work hard to find a solution. This applies to the underwriting stage, as well as claim time. We are here to help YOU, and work hard to ensure that you receive your insurance pay out when you need it most.
It is important to remember that an adviser represents the client. It doesn’t cost you anything for our service - the team is available to give you advice and do the best by you. Insuranceadvisers get paid by the insurance company when a policy is in place, and as they are not the insurer, are NOT driven by a ‘no claims, more money’ clause.
When it comes to insurance, it is important that you weigh up your options. The reality is that cheapest is not always best, and that not disclosing all information (even if you do not believe it is relevant) can lead to issues at claim time. Insurance companies DO pay, so if you need any advice regarding your policies, feel free to talk to the team at Cooney Insurance.
Get in touch: http://www.cooneyinsurance.co.nz/page/contact-us/