Many insurance products promise double claims to buyers. Double claims facilities are often found in health insurance products, for example you have a combination of two insurance products. Basically, double claims give the policy owner the right to use both health insurance cards.
However, many people have yet to understand the double claims so often misconstrued interpret. Many are wrong to assume that double claims means you are entitled to do two times claims. Thus, according to this understanding, if the policy owner spends $300 for the cost of her treatment, then with a system of double claims, the owner of the policy is entitled to $600. But this is a wrong understanding.
To be able to understand the system of double claims, you should know that to insurance is not for profit but to cover losses. The double nature of the claims is for supplementing a deficiency bill each other.
Double claims are a reimbursement system covered by an additional insurance card for claims not covered by the main insurance card. So, this additional insurance card works as a backup of your main insurance card.
For example: you issued a total medical expenses amounting to $300. By using the main insurance card, you are only awarded damages $200. With a system of double claims, then you can receive $100 the rest with an extra insurance card.
Another case in which a system of double claims also serves is when the main insurance card does not provide redress at all, and then the extra insurance card can replace the indemnity. So it can be concluded the term double claims means claims are done twice, but not to get twice the replacement of loss.
Once you understand the above explanation with some examples of cases where double claims are useful, it can be inferred that understand the principle of double insurance claims is the thing to do. With know clearly what meaning and workings of double claims; you can maximize the use of the cover. His conclusion:
- Insurance is not a means of profit, but to avoid losses.
- Double claims do not apply again for a loss reimbursement has been thoroughly from the insurance card.
- Double claims by extra insurance card are valid only if the rest of the costs are not covered by the main insurance card.
- Double claims will not provide reimbursement of loss exceeds the cost that you spend.
- Double claims do not provide reimbursement of loss doubled.
In addition, you must have a double insurance claims with the correct approach. Don’t buy a double insurance claims in hopes of obtaining profit doubled. If you misunderstand the workings of double claims, you will pay the cost of the excess premium estimates that you can also obtain a replacement two-fold.
Even if you don’t get double compensation, actually double claims can benefit you. The reason is, every insurance product has its own terms and limitations. With the double claims, you can get maximum compensation.
One example is the primary insurance you can only bear the costs of inpatient rooms without giving up protection facilities medical expenses or costs of care. If you have additional insurance card with the benefit of treatment, then you can use both of them to receive the maximum reimbursement.
Double Claims Procedures
Double claims means you have two insurance products. To get double claims, you also must follow the procedures for filing a claim properly. Here is one example of double claims by two procedures on insurance.
- The first one is the use one of the first health insurance products in emergencies. At this stage, you can provide information to workers of the hospital that you also have other health insurance products to cover the lack of payment of the first insurance product.
- Next, after you make a payment, you will be provided details for the costs of what is covered and not covered. The details of these fees is required by insurance companies for claims, usually needed is the original document.
- Then, you have to prepare the required documents for filing claims from both the insurance payment receipts, for example, the results of the lab, medical record from your doctor, and more. Once collected, these documents, you can directly send to the second insurance company for processing.
- After submitting documents, you only need to wait for confirmation from the insurance and waiting for the disbursement of funds.
To simplify the process of double claims, you can prepare the required documents before. By preparing this document, you can quickly make a claim and get the disbursement of funds. In General, the documents required are:
- Details of the costs are covered by insurance.
- Photocopying receipts overall treatment costs.
- Doctor medical resume form provided by additional insurance.
- The results of the laboratory.
- Health insurance claim Form.
As economists, surely everyone’s nature is to get profits. However, it should be remembered that in the insurance, there are many conditions that are different from each other. For that, you have to be careful insurance users with always looking for information on insurance products of your choice.
For those of you who have double claims, phased sum of premiums that you have paid and the benefits that you get. If the cost is necessary to protect you, then keep both cover. If not, then it’s time to look for other insurance products.
Do you already have a double insurance claims? Give your experience about the workings of double claims facilities and whether the facilities profitable. Please share this article so it can be more helpful.