What is an Insurance Claim?

The Terms and Conditions in the Insurance Policy will tell you how much money you can get in what scenario.

When one of these scenarios take place, (death, disability, etc) you can make a Claim and ask the Insurance Company for money.

Always read the Terms and Conditions carefully before buying insurance.

Here are some key takeaways from this section that you should remember.

An Insurance Policy is a legal contract between you (called the Policyholder) and the Insurance Company.
The Insurance Policy will have terms and conditions, which will tell you how much money you can get in what scenario.
When one of these scenarios takes place (like death, disability, etc), you can make a Reimbursement Claim and ask the Insurance Company for money.
A Reimbursement Claim is your request to the Insurance Company asking for payment according to the Terms of the Insurance Policy.

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