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Insurance is the process taken by an individual or a company to protect themselves from a financial loss.Insurance is a form of risk management that indemnifies the individual or company from a certain loss.Insurance is sold by a legal entity or company called the insurance company or the insurer.The insurance company sell the insurance to the insured or the policy holder.The transaction between the two is based that the insured pays small amount of money or premiums with the guarantee that the insurer will compensate in case the uncertain loss insured against occurs.

The conditions and details of compensation are contained in the insurance policy which is given to the policy holder after the insurance agreement.The formal request sent by the insured to the insurer asking for payment as stated in the insurance policy is called the insurance claim.Thus the insurer will review the formal request and then approve the payment.The insurance claim is paid by the insurer in order to cover or indemnify the insured against a financial loss.

The property insurance claim, the health insurance claim and the life claim are some of the common types of insurance claims. The purpose of the health insurance claim is preventing individuals or companies from paying huge hospital bills that may cause financial damage.The health claims in most hospitals in the United states are automated thus patient do not file claims manually.Thus the insurance company pays the hospital on behalf of the policy holder.

The health insurance and the property insurance are very different from each other.This is because in the property insurance claim the policy holder is the one filing the claim.The representative of the insurance company or the adjuster will then receive the call or email from the policy holder.Once they call the adjuster they make a report of the damages to the property of the insured.An investigation is then carried out by the representative on the cause of the damage and the extent of the damage.After the verification the representative makes the conclusion remarks and forwards them to the insurance company.Depending on the damage and the conclusion remarks, the insurer will either fully compensate or make payments for the necessary repairs.

Unlike the other insurance claims, this one is filed by the beneficiaries of the insured.The beneficiaries or claimant must take a written notification of death to the insurance company as soon as the policy holders passes on. The process of compensation then begins upon receiving the written notification from the claimant.The written document should include the details of the insured, cause of death, date of death and the name of the claimant.The claimant is also supposed to deliver the death certificate of the insured, medical documents in case the insured was admitted in a hospital and the policy document.

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