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Pay back the money! Claiming on your insurance got you seeing red? Not with Altrisk!


The Economic Freedom Fighters may still be fighting to have President Jacob Zuma ‘pay back the money’ in the Nkandla case – and be in hot water for its outspoken jibe too, which is the subject of a parliamentary disciplinary hearing this week – but when it comes to paying back our clients’ money through the claims they submit, we always make good on our promises.


You see, with some insurers, clients feel like they have to fight for every red cent. At Altrisk, our clients don’t. Because our philosophy has always been that we’re in the business of paying valid claims. In other words, we look for reasons to settle our clients’ claims, not reasons not to.


Take this recent claim, for instance.


We recently paid out R8 million in total on an early death and monthly income protection claim. Why’s that significant? Early claims like this one normally send up red flags for insurers that, in order to validate the claim, will want to be sure their client fully disclosed all pertinent information at the time of taking out the policy.


Naturally, such scrutiny is important to ensure the burden of fraudulent claims is not unfairly born by the insurer, and indirectly, by the rest of our clients.


But with it comes a thorough claim investigation, which can take a long time, negatively impacting the client or their beneficiaries even further while they wait for the outcome.


We’re aware of this, and that legitimate early claims do arise, which is why our initial underwriting is so meticulous to begin with; it means less hassle, less waiting and less red tape.


In this case, our client had taken out the life cover and monthly income protection benefit when, just 16 months later, he was diagnosed with cancer. Unable to work, he claimed on his income protection benefit, which paid out R100k every month for seven months until he tragically lost his battle with cancer.


Even though our client passed away in the first week of a new month, our policies allow for the full benefit of R100k to be paid for the duration of that month to ensure our client’s family was taken care of while we processed the paperwork for the death benefit payment.


Thanks to all the comprehensive information we had on file from underwriting when it came to processing the claim, we were also able to pay the full R7.3million life cover just weeks later.


You see, not only is our claims philosophy based on fairness and solid ethics, but it’s underscored by a deep-seated commitment to do what’s morally right by our clients.

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