You have probably heard the rumours that insurers often do not pay out on insurance claims made by their customers. This article helps you understand the necessary steps to take to ensure you follow the right steps to ensure your cover is valid from the get-go.

This starts at the beginning by firstly ensuring you disclose all of your personal details and an accurate up to date medical history. This gives you the opportunity to disclose any information that you may have concerns over. All insurance applications are underwritten prior to the policy going live, so by giving all the information up front, there should be no reason for the provider to refuse to payout.

For example, one of the main reasons that claims are invalid is due to the fact people aren’t always honest with their tobacco consumption. For example, if someone smokes on odd occasions and they have disclosed that they are a non-smoker – this will affect your claim. This comes back to being truthful upfront on the medical questionnaire – completing it accurately and honestly, will avoid any problems.

Depending on the provider, on average it can take 1-2 months for a claim to be reviewed. However, if you set the policy up in trust this can really help speed up the process. A Life Insurance policy set up in a trust means you can name the beneficiary and know that your money will end up in the right hand, as soon as possible. Not only does this removes the need for the long and lengthy legal process but it also can help to reduce your Inheritance Tax liability. At The Mortgage Library, we will always take the necessary steps to ensure you, your home and your loved ones are fully protected.