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How to cancel insurance: Guide to do it efficiently

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cancel insurance

This article is intended to be a guide on how to cancel insurance efficiently. There are some factors that may go unnoticed and that justify that …

A good part of the inquiries I receive are related to the claim by the insurer for unpaid premiums.

This post could be very brief if I just tell you: meeting the deadlines set in the law will not have problems.

If you notice the title of the article, it talks about how to cancel the insurance and not when to do it.

There are some factors that may go unnoticed and that justify reading this little help guide.

The Insurance Contract Law, since last January 1, establishes that the cancellation of the insurance contract by the policyholder must be notified to the insurer at least one month before its expiration.

You are already clear that you must communicate your desire to cancel the contract within the legal term: at least one month before expiration.

How to cancel insurance efficiently

You should not forget that insurance is a contract in which both parties are bound by a series of commitments regulated by the contract itself and by the law that supports it.

Learning how to cancel the insurance contract and do it efficiently will save you trouble.

Opposition to the extension of the need to communicate in writing so convincing that there are no doubts of your desire. To do this I advise you:

  1. Certified letter or email addressed to the address that you will have from the insurer in the policy.
  2. Notify the insurance broker or policy agent. If you do it to the latter, it will have the same effects as if you communicate it directly to the company.

I never recommend using the contact form available on the insurer’s website, because it will most likely end up in the spam tray.

If you are registered as a user on the company’s website, you can use the form provided for this purpose, but make sure that you provide proof of the operation. Print it out on paper or keep the digital file in case you need to use it later.

Using email is not a good idea either unless you keep a digital record of the communication, its content, delivery, and reading. In many cases, it is the same as with the contact form on the web.

What is the expiration date of the receipt?

The duration of the insurance contract will be determined in the policy, it may not set a term exceeding 10 years and the extension may be established for one or more times as long as it does not exceed one year.

The insurance payment must be made in advance of the established duration, therefore the expiration date is the first day of each insurance annuity.

There are certain branches in which the insurance annuity equals the calendar year. In these cases, the expiration date will be on January 1, whatever the date you purchased the insurance.

This is the formula used by insurers in death and especially health insurance. They are also contracts that usually have installment payments. These two circumstances often induce you to think that you can cancel the contract at a different date to maturity.

Request cancellation before December 1, it will only give the company time to confirm that the cancellation is on December 31.

My payment is divided, when can I cancel the insurance?

The payment of the insurance premium is conditional on the duration of the contract. If the duration is for a specified period without the possibility of renewal, the premium will be paid in a single payment.

If, on the other hand, the duration is annual, renewable, the premium earned will be for the same period of time: one year.

To facilitate the payment of the annual premium, companies can assume to charge it in a fractional manner: monthly, quarterly, or semi-annually. This division does not modify the duration of the contract, therefore the expiration date will be the first day of each new extension of the insurance.

Is there a reason to cancel the policy after the deadline?

The latest modification of article 22 of the Insurance Contract Law introduces a new paragraph that improves the rights of the policyholder.

The insurer must notify the policyholder, at least two months before the end of the current period, of any modification of the insurance contract.

This provision is a lifeboat if we want to cancel the contract without having communicated it in a timely manner.

Your insurance premium has been raised, your medical benefits modified or your travel assistance benefits modified, as these are reasons for you to oppose renewing your insurance. These are some of the changes that the insurer must communicate to you two months in advance, so that you can decide in time to extend the insurance.

Hey, watch out! that this does not operate automatically.

The company will try to collect the receipt if you did not communicate the cancellation in time. In your defense, you can argue the failure of the insurer for not communicating the modification according to the law.

conclusion

How to cancel insurance efficiently has become a longer article than originally intended. The subject required it. You should not take the insurance contract lightly because you could be harmed.

Insurers are not an NGO, their potential is greater than yours. Your best guarantee is to do things according to the law and the contract.

Communicating your desire to the insurer to cancel the insurance using reliable means, will be useful if you have to defend yourself from a non- payment judgment claiming the debt.

Checking the expiration date of the insurance will make your communication more efficient.

But above all, doing it within the legally established period will guarantee its effectiveness.

And if any of this fails, look for the error of the company to cancel the contract.

Further down in the comments you can leave us your answer to these questions.

Has it happened to you that you wanted to cancel the policy and you were out of time?

Can you tell us what you did?

How to reduce your insurance bill: 7+1 tips to pay less

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reduce your insurance bill

How to pay less in your insurance is the goal you set yourself year after year, have you ever achieved it?

From the outset, I tell you that it is not easy. Above all, because each year insurers have to adapt insurance premiums to technical criteria.

Do you want to buy your insurance cheaper, but do not know how?

Surely you have heard and read a thousand formulas to get how to do it, but in this article, I am going to tell you what has given me the best results. You will find the keys and tips that I recommend to really save on your insurance bill.

Is saving on insurance paying less?

I imagine what your answer is. And if I tell you that you are in a MISTAKE! What would you think?

Having well-done insurance can be synonymous with having to pay a higher price.

If you want to know what I’m talking about and that:

The objective is to reduce your insurance bill, I leave you these 7 + 1 tips.

1. buy the insurance tailored to you

You choose the content of the cable TV, the electricity rate or the suit that you will take to the party, well, why don’t you adapt the insurance to suit you?

For that, it is not worth it…

How can I not give a hand to my nephew who has finished his degree and while he finds a job in his business he has started selling insurance.

You ask for a loan from the bank and you leave with the money and a couple of policies, you return the money and the insurance is still paying.

Because these are some of the reasons that the insurance account fattens.

One of the first things they taught me when I started is that to sell insurance, the first thing to do is create the need to make it essential.

The first thing you should do is cancel those contracts that you find unnecessary.

You will have no choice but to buy the mandatory insurance for your company or family: automobile, professional civil liability, work-related accidents. The rest, the value before purchasing them if you need them.

More and more guarantees that insurers include in their policies trying to make them more attractive to the consumer. But most of the time it is not free. Dispense with those that you will surely never use because everything adds up to the price of the insurance.

You can also include some type of franchise to reduce the price. Find out how in this article What is insurance with excess?

This is only the first step on how to pay less, there are seven more for you to keep saving.

2. Check the conditions of your contracts

We take out the insurance and we don’t look at it again until we have a claim or the receipt seems expensive. We forget that any modification of the insured risk can change the insurance conditions, and over time everything changes even if you do not perceive it.

These are some of the conditions that determine the amount of the premium and that you should update:

2.1 Changes in the insured risk

The insurance premium is established according to the characteristics of the insured risk, therefore it is essential to notify the insurer of any variation it suffers.

With the last job change, you no longer need the car to go to work. The reduction in annual kilometers can make your car insurance a little cheaper.

That place that you had rented as a warehouse has now become a coworking center, in which various merchandise has made room for a shared collaborative workspace.

You are obliged to notify the company of any variation in risk, in some cases it will mean a decrease in the premium, in others, an increase. But this way you will have the peace of mind, in the event of a claim, that the insurer is not going to reduce the indemnities by applying equity or proportional rule to you.

2.2 Prevention and protection measures

They are not as determinative as a risk but they do influence the acceptance of the risk or increasing/decreasing the insurance premium.

You are a handyman and you have installed a system of surveillance cameras, detectors, and an alarm connected to your mobile to know what is happening in your home at all times. You have installed the latest anti-theft system in your car or you took the opportunity to change the old security door of your house for an armored one.

Acts like these go unnoticed, we do not report them to the insurance and we are missing an opportunity to reduce the price.

2.3 Number of employees and turnover

If you are not yet very familiar with insurance, you may find the statement in this section strange. Premiums in policies with general civil liability coverage are usually established on the basis of the turnover generated by the policyholder with the insured activity. Sometimes, as is the case in collective accident policies, the reference is the number of insured workers.

The holder of the policy is obliged to inform the insurer of variations suffering these values. Companies usually establish in the conditions of the contract when to do it, but they do not limit you to be able to do it in advance.

Good management of these statements can give you an idea of how to pay less on your insurance bill.

3. Update the value of the goods

But this is not worth what I pay for the insurance!

The bursting of the housing bubble caused real estate to decrease in value and the crisis is causing us to have negative inflation. Both situations advise you to review the insured amount of your damage policies.

The price of materials and labor has also been reduced, so rebuilding your property is cheaper.

The current situation, with zero inflation, makes the automatic revaluation clauses of the policy capital unnecessary. Think that with this clause the premiums will increase in proportion to the increase experienced by the insured capital.

Machinery and industrial furnishings age, so you need to review their value periodically. If necessary, modify the form of insurance to adapt it to each moment.

If you have doubts about how to do it, in this article you will find all the information you need: Learn to easily value your business before insuring it.

How much have you saved? There is still some more recommendation so you can see how to pay less.

4. Select the payment method

Many times splitting the insurance premium is a way of being able to face the payment. But many others mean making insurance unnecessarily expensive.

Insurers do not do it for free, so they apply surcharges for fractionation that in some cases exceed 6%. You have to know that the higher the fractionation, the greater the percentage to pay.

When you are splitting the payment, you are financing yourself through the insurer so it may be convenient for you to use another cheaper source.

This is a section that you should review periodically to adapt the payment method to your financial resources.

5. Group all your policies

If I buy you all this, what discount will you give me?

Placing all your insurance in the same basket is possible that you get preferential treatment. Better premium rates, additional bonuses, or discounts on purchasing new products are some of the advantages you can get.

From the moment you fill in the first questionnaire from the insurer, you begin to be classified and analyzed. The final deal will depend on the profitability you give, and this is linked to the volume of premiums.

I would only advise you to ungroup those specific insurances that need a specialized insurer.

Think big, in the final result of your account, it depends on it that your profits increase.

6. Insurance is not an expense

I often find myself who thinks that insurance is an expense that must be amortized as soon as possible. To do so, they go to the insurance for any incident, whether or not it is covered by the policy guarantees.

It has also happened to me on occasion to think: what another year I have paid the insurance without making use of it. It is an idea that fades quickly because if I have not needed to use it, everything has gone well.

When we use insurance with a clear desire to amortize what we paid, we damage our insurance record. The benefit you can get in the short term will be detrimental in the long run when your record penalizes future buy.

In the same way that today insurers know our history as a driver, it will not be long before they share that of the policyholder.

7. Price is not always the most important thing

The time has come to show you that the price of insurance is not the only culprit that you can save on your insurance bill.

I give you a simple example:

You have your home insured and the insured capital is 20% less than the real value. This means a saving in the price of the insurance of about 100 dollars per year. But you have a claim whose damages have been valued at 10,000 dollars, the company has deducted 2,000 dollars from the compensation, the 20% that you did not have insured. You insured with underinsurance and it has meant a loss of 1,900 dollars.

This assumption refers to a home policy but you can extrapolate it to any other insurance. An insufficient valuation of the goods, inaccuracy about the protection and prevention measures, or declaring invoices lower than the real one can be the reason that they pay you less or even nothing if you have a claim.

You may now think about changing the question: how to pay less … for how to save better on my insurance.

8. Get advice from professionals

If you think about how difficult it may be for you to continue any of the advice that I have left you, the solution is in the latter.

Trust your portfolio to a good insurance broker. He will know how to audit each of your risks, establishing what your needs are.

It will underwrite the risks in the best market conditions, both in coverage and premiums.

It will negotiate for you the payment terms of your policies and you will obtain fairer compensation.

There are more, but for now, I leave you to discover them by yourself, inquiring into the contents of this page, or visiting the closest professional.

In short, it is like eating from the menu or à la carte, it only depends on you.

Conclusion on how to pay less on my insurance bill

You may already have an answer on how to do it after you’ve gotten here.

Savings on the bill are not only achieved with a cheaper premium. To make this possible, it is not enough to cancel the insurance you do not need, also review the guarantees contracted, updating the risk, or the circumstances that define it.

Make sure that the insured sum is adequate and that the payment method adjusts to your economy. Think of insurance as an equity guarantee for the future and not as an expense that must be amortized as soon as possible.

If you group your insurance portfolio, you will improve your client position. And if you want to save time and of course money, trust your insurance broker, he will know how to get the best result.

While you keep saving, why don’t you leave us your comments answering the question:

How do you manage to improve your insurance bill, do you do it personally?

A Man Pushes His Disabled Son Into The Sea To Collect Life Insurance

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Collect life insurance

The father, who had the help of another relative, threw the young man into the sea to collect life insurance for his death.

A man threw his son with mental problems into the sea in order to collect insurance. According to ‘China News’, the event took place on September 28 in the Chinese city of Haikou, in Hainan, when a 64-year-old subject notified the police to tell them that his son had accidentally fallen into the sea.

The agents checked the security cameras of the Office of Ports and Ships and were able to verify how the father himself was the one who threw his son into the sea.

Through the videos that the police obtained, they discovered that the young man was actually pushed by a person who was dressed in the same way as the complainant.

When he was arrested, the suspect pleaded guilty and confessed that he was seeking to collect insurance for his son’s death. He also confessed that he did not act alone; a relative of his participated in the crime, and they managed to arrest him when he was about to leave the city by train. The rescue services located the lifeless body of the young man who drowned in the sea.

How to interpret an insurance policy: 9 points that you should check

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insurance policy

Do you know how to interpret an insurance policy, understand its content?

Are you one of those who take out the insurance policy and then don’t read it?

Well, you are making a mistake.

It is a contract and you run the risk that when the time comes you will find yourself with the surprise that there is no coverage for that incident. More than 18% of those who take out insurance do not read the conditions, and 54% do so above.

An insurance policy is certainly not a ” best seller, ” although many copies are sometimes sold. It is not very entertaining to read and difficult to understand. Especially when you are faced with long and cumbersome texts and terminology only for the initiated.

Don’t mess around!

In this article, I am going to tell you how to interpret an insurance contract. I will mark what content is essential that you review to facilitate the reading of the fine print. And by the way, you can clear those doubts that you did not dare to ask.

What is an insurance policy?

Before breaking down what an insurance contract is made of, it is important to remember what it is and what it is for.

The insurance contract is the one by which the insurer undertakes, by charging a premium and in the event that the event occurs whose risk is covered, to compensate, within the agreed limits, the damage caused to the insured, or to satisfy a capital, an income or other agreed benefits.

Article 1 Insurance Contract Law

An insurance contract can have any object of risk, as long as there is an insurable interest and it is not expressly prohibited by law.

The policy is the written instrument that regulates the conditions of the insurance contract. It is the private document that contains the rights and obligations of the parties that sign it. In addition, it is an adhesion contract so any modification must be made through expressly agreed clauses.

For this reason, when contracting insurance, together with the proposal, the application, or the policy itself, the insurer must give you: the general, particular, special conditions and any other complementary document that you have to subscribe.

The booklet of the General Conditions

For the same type of insurance, there are clauses that are common to all contracts, which is why insurers have printed or pre-printed conditions, the so-called General Conditions.

You can request that the insurance policy be drawn up in any of the official languages. Also that it is done in a different language in accordance with Directive 92/96 of the EU Council.

Computer digitalization has also reached the policies obliterating the book of general conditions.

Whatever the format in which they are delivered to you, the exclusions or limitations to the coverage of the contract, they must be highlighted typographically.

These are the contents that you must find in the general conditions, pay attention to the priority ones:

The rules that regulate the contract

List of the legislation to which the contract is subject. Basically, they refer to the Insurance Contract Law, Data Protection Law, Management and Supervision of Private Insurance, CCS legal statute, or the Mediation Law.

The contract persons and definitions

This section refers to the persons who may intervene, their function, or the definitions of the terms of the insurance contract.

The object of the insurance and the excluded goods.

They refer to the coverage assumed by the insurer, defined in the particular conditions. Those assets that are not covered are also described. You should not confuse it with uncovered risks that we will talk about later.

The risks covered.

In this section, you will find all the coverages offered by this type of insurance. But this does not mean that all of them are the ones you have hired, so you should go to the particular conditions to see which ones you have included in your policy and what are the insured limits or the excesses that affect each one.

Risks and Damages Not Covered.

If everything is relevant, I especially recommend reading this section, because in it you will find the list of risks not covered. It will depend on the type of insurance that this list is more or less extensive because it contains all the exclusions that affect the contract.

An optional form of assurance.

This is a section that you will find in the damage policies (SME, industry, etc.). It defines those forms of insurance whose acceptance is optional for the company. Normally it refers to the fixed and floating capital of the insurance of inventories or extension of the coverage in the valuation in case of loss.

The basis of the contract.

It defines the documents that together with the policy are part of the contract, such as the application or the insurance proposal. They also regulate the rights and obligations of the parties regarding the declaration of risk, its inaccuracy, the aggravation, reduction, disappearance, or transmission of risk.

The formalization of the contract, its duration, the payment of premiums, and the payment address is also part of this section.

Other aspects that are important in the long run are those related to the termination or nullity of the contract and the prescription of the actions derived from it.

Claims and their processing.

It is important that you know what duties you have to communicate the loss, rescue, and reduce the consequences. It is also important that you know how the damages are assessed, the compensation is determined and they pay you.

Conflict resolution.

Do you know who you can go to in case of conflict? This section of the insurance policy explains to whom you can direct your claim in case of conflict with the insurer. Of course, knowing how to do it can solve more than one setback.

You should also find two very special clauses:

Indemnification clause by the Insurance Compensation Consortium.

It establishes the extraordinary events that are covered, the risks excluded, the applicable franchise, or the procedure for action in the event of a claim.

Data protection clause.

It collects everything related to the treatment of your data and its use by the company. The address where to go should appear in case you decide to exercise the rights of access, rectification, cancellation, and opposition.

And something very important that you should keep in mind about your data. The legislation allows them to be assigned or part of them, and those generated in the event of a claim, to public and private organizations related to the insurance sector for statistical purposes and fraud prevention, in the selection of risks and settlement of claims.

Any modification that is established in the coverage, exclusions, or limitations must be inserted in the particular conditions, partially or totally repealing what is indicated in the general conditions.

The 9 points that you must review, yes or yes, in the Particular Conditions

But an insurance policy is an individual contract so it has to be personalized, this is done through the Particular Conditions.

They contain the data and specific clauses that identify and regulate the contract and so that you have no doubts about its content, these are the 9 points that you have to check yes or yes.

#1. The contracting parties

It must contain the name and surname or company name of the contracting parties and their address, as well as the designation of the insured and beneficiary, if applicable. Above all, check that the personal data is correct and does not contain any errors.

#2. The concept in which it is insured

It refers to the condition of each of the parties that grant the contract, the policyholder, and the insurer. Both are the ones obliged to comply with the agreed conditions.

#3. The nature of the hedged risk

It must describe in a clear and understandable way, the guarantees and coverage granted in the contract, as well as with respect to each one of them, the exclusions and limitations that affect them highlighted typographically.

#4. Designation of the insured objects and their location

It will contain information related to the insured object, its characteristics, and the situation where it is located or the radius of action. For example, in car insurance, the data is the identifiers of the vehicle, characteristics, and habitual driver. In a home, the elements of the property, the location, or prevention and protection measures.

#5. The sum insured or the scope of coverage

You have to check that the insurance sum assigned to each of the coverages is clearly stated. You must also make sure that the insurance method or the amount of the franchise is listed if any.

#6. Amount of premium, surcharges, and taxes

The price of the insurance must be itemized. For this, the policy will state the net insurance premium, the taxes and surcharges that are levied on it, and the total premium for the initial period according to the chosen payment method.

In the case of a policy with floating capital, the way in which the payment will be made must be established.

#7. Maturity of premiums, place, and method of payment

Check that the expiration of the insurance corresponds to the agreed date. There are insurers that offer you the possibility of changing the date by anticipating it to the first day of the month or delaying it to the first day of the following month.

Another element that should appear in the form and place or means of payment of the premium. To learn more about this, I advise you to read this post: What form of payment am I most interested in insurance to save money?

#8. Duration of the contract

If you have read the article that I recommended in the previous point, you will have read about the duration of the contract. Well, the policy should indicate the day and time when your coverage begins and ends.

#9. The contract mediator

Regarding the mediator, in addition to the identification data, it must contain the type of mediator in question. The amount you receive for your work should be reported shortly.

With all this, we have already written between 30 and 40 pages of an insurance contract, but something else is still missing. Read on to find out.

The Special Conditions of the policy

These are specific conditions that affect certain circumstances of the insurance contract. They are generally used to remove some exclusions or to include new ones.

Do you have a mortgage and the bank requires a transfer of rights in the insurance?

Well, the clause that is included in the insurance policy for the loan will be a special clause.

The risk ratio in a damage policy or the nominal ratio of the insured in an accident group is special clauses.

The coverages or exclusions referring to the health status of an insured are also special clauses in a medical insurance policy.

Clauses based on international treaty coverage are also part of these special conditions.

Why is it necessary to pay attention to the content of the policy?

Well, because you have one month from the delivery of the policy to claim the insurer to remedy those clauses that do not conform to the agreement or the insurance proposal.

After that period without claiming, you will have to comply with the provisions of the policy. By the way, this clause must also be included in any insurance policy.

conclusion

Spending a few minutes reviewing the insurance policy means saving time because you can rectify it if it does not conform to what was agreed. But also, in the event of a claim, if it is well done, it will avoid unnecessary conflicts. Knowing what it covers, what it excludes, or who to turn to in case of conflict will make your effort not wasted.

But in addition, the conditions of the contract cannot be harmful to the insured. They must be written clearly and precisely, highlighting especially the limiting clauses of the rights of the insured.

Especially relevant is that they must be governed by the mandatory provisions of the LCS unless it provides otherwise or there is specific legislation for this type of insurance.

Attention! It is very important that you know that the insurance contract will be void, except in the cases provided for in the Law, if at the time of contracting the risk does not exist or the loss had occurred.

Have you ever read your insurance policy, was it easy for you to understand its content?
I wait for you in the comments and if you have any questions about your policy, raise it to answer it.

The definitive guide not to lose your mind if you have to make an insurance claim

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insurance claim

you want to make an insurance claim. And you want your complaint to be solved as soon as possible. You also don’t want to spend a lot of money.

As an insurance consumer, you have the right to complain if something has not gone well or to complain about deficiencies in the service.

Choosing the most appropriate route for an insurance claim, start by reading this guide so as not to lose patience.

Where can I complain and how can I complain?

In my case, most of the time, I advise giving priority to the extrajudicial route before the judicial one. I have always thought that insurance can solve many issues in a negotiated way.

To go to court, you have time.

There are different ways to make your claim, and so that you do not get confused, I bring you this little guide.

The freeways to claim insurance.

If you do not agree with the resolution given by the insurer to a certain matter, you can exercise your right to claim. You have two ways to do it, the judicial one, with an uncertain result, and at a cost to your pocket.

And the extrajudicial claim, with which you can obtain the same result, but cheaper. Free!

As a preliminary step to claiming your insurer, I recommend that you read the policy and everything related to conflict resolution measures. There you will find the different instances that you can go to.

In case you do not have the policy at hand, I leave you these brief notes about the tour of the different services. It will help you.

Step # 1: Customer Service.

Each entity names it in one way: customer service, claims. It is the administrative unit that is in charge of receiving and resolving the complaints or claims that come to them.

Once you have submitted the claim, the service has to respond within two months. Before resolving, the department affected by the complaint or claim will ask for the background, information, and allegations.

The decision of the attention service must be motivated, the conclusions will be clear and they must notify you within 10 days after taking it.

If the answer leaves you satisfied, you can now abandon reading the article. If not, and your company has it, this is the second step.

Step # 2: The Defender of the insured.

Has the insurance company’s response not convinced you? Well, I present to you the Defender of the Insured.

It is a figure that all insurers are obliged to have, in case they do not have the service of the previous step, that all pay and of which they must be independent. Its decisions are binding on the company, but not on the claimant. If he agrees with you, the company will have to address your complaint or claim in the terms established by the Ombudsman.

The operation is similar to customer service. The response time is also for two months. If the decision does not satisfy you or you have not had a response, the next step is to go to the supervisory body of the administration. In insurance, the General Directorate of Insurance and Pension Funds.

Step # 3: The General Directorate of Insurance.

Your insurance claim can be made through any of the claims offices of the different supervisory bodies: The Bank of Spain, the National Securities Market Commission, and the General Directorate of Insurance, the latter being the one who will resolve your complaint.

Once the claim file is opened, before ten days, it will request the insurer to present any allegations it deems appropriate within fifteen business days. Their answer will be transferred to you so that in the same period you can show your disagreement with it. After this, the report will be issued within four months of the complaint.

The report, like the previous ones, will be motivated and clear in its conclusions and will state whether the actions comply with the rules of transparency and protection or with good financial practices.

But it will not deal with complaints or claims when the user is obliged to go to an arbitration body or when the matter is submitted to any administrative or judicial instance.

One piece of information: In 2014, the resolutions in favor of the claimant were 25% of the total. In favor of the insurer, 39%.

Ah! Two very important things:

  1. Before going to the DGSFP with your insurance claim, you have to prove that you have claimed through the Claims Attention Service or the Insured Ombudsman.
  2. The report you issue is not binding on you or the insurer.

Yes, yes, I know … then what is it for? This time I let you answer.

You are impatient and prefer shortcuts, so you can jump from the starting square to the next point.

The alternative of the arbitration system.

You have other alternatives that you can go to without having to take the previous steps. It is a specific system for consumers and users where conflicts can be resolved through mediation and arbitration. There are two types, the so-called ordinary arbitration, and the consumer.

Ordinary arbitration

Its operation is simple, in case of disagreement between the parties, both will choose an arbitrator who will be the one to decide and resolve the conflict. Its resolution is binding on both parties.

Consumer arbitration

It is under the umbrella of the Administration. It is a voluntary means for the resolution of conflicts where if the insurer is attached, it will submit to arbitration of the claim and if it is not, it can accept it as a solution.

Either of these options will make your insurance claim go less, but will not always reduce the time to resolution.

Conclusion

When you don’t like the insurance decision, you have a number of alternatives at your fingertips before going to court.

But you have to earn it and it is not always an easy task. At each instance you go you will have to do it with arguments, and for that, this is the place to find them.

If your plan is to claim insurance, you will need an extra reserve of patience and a pinch of optimism.

In summary … I have given you the alternatives so that you can make your insurance claim, without costing you one euro.

Did you know about the existence of these services? Have you had to use any?

7 keys to choosing the best roadside assistance insurance

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roadside assistance insurance

Can you imagine that you are left lying with the car at the doors of the house and the roadside assistance insurance does not serve you?

What about that contract you were going to sign or the doctor’s appointment that cost you so much to get?

After the monumental anger of the first moment, it’s time to find a solution in case it happens again.

Roadside assistance has become an essential coverage to have it included in your car insurance. Or to contract it in individual insurance. Be that as it may, my advice is that if you use the car, take out this type of insurance.

But not just anyone, in my case I seek that assistance is not only for the car but also for people. Give me solutions to circumstances in which the car, due to breakdown, accident, or any other, cannot circulate.

These are some of the keys with which I value which roadside assistance insurance suits me, and why.

1. What coverage does roadside assistance provide me?

I like to make the assessment thinking about who can suffer the consequences of being stranded on the road. Along with the vehicle assistance, I also consider what benefits people who travel in the car will receive, or if the coverage is extended when they do not.

For me, it is very important to know that if my car is stolen (warning: it is only worth what its tires are worth), the people who travel with me will have the means to return home, or the accommodation paid while they repair that untimely breakdown.

2. On-site repair

But things don’t always have to go that far. I also want to be sure that if I puncture a wheel or the car runs out of battery, I will receive the necessary assistance to continue the journey. Also, as I am a bit clueless, it will not hurt either, that they attend to me if I lose the keys or the car runs out of gas.

Getting your problem fixed on the fly can save you a lot of trouble. That is why it is important for me to have a helpdesk that can make a quick repair at the scene of the incident.

3. Assistance from kilometer «0»

The last roadside assistance I had to request was for a clutch cable break. It happened to me just 2 kilometers from home. This time he was alone and was not in a hurry. The car began its journey to the workshop on the crane platform, while I, taking a walk, returned home.

What would have happened if I was accompanied and it happened 10 kilometers from home? Well, the fact of having to pay the tow truck, we would also have had to face the costs of a taxi to return. In my case, the roadside assistance coverage starts at kilometer “zero”.

It is worth reviewing this point because more than one assistance insurance provides coverage from 25 kilometers.

4. Replacement vehicle

You have had a breakdown or an accident and the repair involves having the car immobilized for a couple of days. You are on vacation or work. Goodbye to that beautiful place they told you about or to that important interview for your business. You have been stranded at the most inopportune moment and you have no way of getting there.

For me, it is very important, and I suppose for you too, to be able to maintain the autonomy that having a replacement car gives if something like this happens.

Everything good has a cost, and if you want it, you have to pay for it.

5. Repatriation of the car and people

Having an accident is already a problem, but having it many miles from home is even worse. Therefore, one of the things that I value the most is that, if I have a breakdown, accident, or my car is stolen while outside of my province or country, it will be repatriated when it is repaired or found.

And above what can happen to the car, is knowing that, if the injured or sick are the passengers, we can be repatriated by roadside assistance insurance.

6. Assistance abroad

Breakdowns, accidents do not happen only in, also when you go abroad.

It is not only important to have repatriation. Sometimes the need is to spend a few hours in a medical emergency. Or have at your disposal a hotel room, where you can keep the prescribed rest before resuming the trip, or in case your companions have to wait for your discharge from the hospital. Other times, for the shipment of medicines or stolen or lost objects.

The situation can be worse and you have the need to return due to illness, accident, or death of a close family member. Or on the contrary, you are the one who needs a relative to travel because you are going to spend a short time in the hospital.

Having good coverage abroad is one of the keys that I value the most before choosing assistance insurance.

7. Financial advances during the trip

You have spent all the savings you had paid for the trip of your dreams. You have left the bank account with no balance and you have left with your credit cards and the little money you have left.

It is not too much, in those cases, that the assistance insurance can provide you if you need it, an advance of money if you suffer a serious mishap.

Having an amount of money to pay a lawyer or post a court bond can be vital. Remember that when you travel, you are subject to the laws of the country where you are going. But they all have something in common, the need to have money.

Conclusions

If there are several things that can go wrong, the one that causes the most damage will.

Murphy’s law
The battery that doesn’t work, that key you can’t find, the damn curb that has blown the wheel. They are little things that can bother your trip. And if you also do it in the company, the problem is even greater.

It is not the same to stay in the hotel because you have no way to move than to maintain the freedom to move by having a replacement vehicle.

With third-party car insurance, you can move, without any formality, through more than half of Europe. Roadside assistance coverage should, too. But not with any limit. Because it is not the same to have medical or lawyer expenses limited to 600 dollars than to have up to 6,000 dollars.

Sometimes knowing you are not alone is priceless, and roadside assistance can make you not.

Therefore, my conclusion is very clear:

Roadside assistance coverage, for me, has become a must.

And for you? Have you ever had to resort to roadside assistance?
Share your experience in the comments.

How can I know if I am a beneficiary of any life insurance?

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beneficiary of life insurance

Can you imagine that you have a small fortune as a beneficiary of life insurance, after the death of that relative, and you don’t know it?

How would that change your life?

Surely it would mean an economic relief or to be able to give yourself that whim delayed in time. Some extra funds never hurt, even if they have a sad origin for the loss of a loved one.

The truth is that it is increasingly common to have life insured. Sometimes voluntarily and we record it. Others, associated with certain contracts or services and we do not know they are there.

An example is life or accident insurance associated with the credit card. And who doesn’t have one?

Therefore, when a family member dies, even though it may be hard, it is advisable to make sure if they had any life insurance of which you can be the beneficiary without knowing it.

How can I know if I am a beneficiary of any life insurance?

If you already know your status as a beneficiary, the quickest thing to do is go to the insurance company with the documentation that accredits it and requests the payment of compensation.

But if you don’t know or have doubts as to whether that person had any insurance with death coverage, it is best to find out.

To find out if you are a beneficiary of life insurance, you must first find out if there is insurance and to do so it is best to ask the Administration through the Registry of Insurance Contracts with death coverage.

The purpose of the registry is to allow users to know if a certain person is the insured of an insurance contract with death coverage.

What information does the Registry provide?

Insurers are obliged to communicate the data of the contracts signed identifying the insured person and the insurance contract made.

Therefore, the insurance contracts on which it is possible to know this information are life and accident insurance with coverage of the insured’s death. It does not matter whether they are individual or group policies as long as the insured is nominated.

It will not provide information when it comes to:

  • The insurances that implement company pension commitments with workers and beneficiaries.
  • Insurance in which, in the event of the death of the insured, the policyholder and the beneficiary coincide.
  • The contracts are signed by mutual benefit societies that act as a corporate social security instrument.

The information is kept for 5 years following the death of the insured.

How can I request the data?

The Registry of Insurance Contracts with death coverage depends on the Ministry of Justice.

You can be certified on request via the Internet, by mail or so – face.

If you have an electronic signature, you can request it through the Electronic Headquarters of the Ministry of Justice. 

Whether you do it by mail or in person, you will have to present the 790 application form and proof of payment of the corresponding fee.

If the death is prior to April 2, 2009, you will also have to provide the literal death certificate, original or certified copy.

If you request it online, it will be the system itself that will retrieve the death registration data and allow you to pay the fee through the Tax Agency’s payment gateway.

Whichever means you choose, you will not be able to request the certificate until 15 business days after the death.

How long does the certificate take?

The deadline for issuing it is 7 business days from the date the request is submitted. In the case of a telematic request, it is normal for you to have it available within 24 hours.

In the request form, you can provide an email address to notify you when it is available.

The validity of the certificate is 90 days, so after that, you must request a new one.

If the certificate has to take effect abroad, it needs to be legalized, so you must indicate it in the application.

I already have the certificate, what do I do now?

You have confirmed that the deceased person had insurance with death coverage and where they are insured. Well, the next step is to find out if you are the beneficiary of the insurance. Go to the insurance company where they will inform you if they appear as a beneficiary in the policy.

If you are, the procedures to collect the corresponding compensation according to the insurance contract begin.

In case you are not expressly so, you will have to prove your status as a beneficiary. To do this, the insurer will ask you to provide the will – if any – of the declaration of heirs.

conclusion

This is the objective:

That no insurance with death coverage remains uncollected when the death of the insured occurs.

To do so, if you think you can be a beneficiary of one of this insurance, you only have to ask for a certificate of the insurance with death coverage that the deceased may have.

You can request it through the Internet or through traditional means.

Remember, you will have to wait at least 15 days from death to do it. And you will have it within a maximum period of 7 days from when you request it.

Ah! And if you are interested in knowing in which insurance contracts, with death coverage, figures as insured, you can also request it, free of charge, in the same way, and at any time.

Are you processing the inheritance, are you a beneficiary of death insurance?

5 Things to keep in mind before canceling health insurance

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canceling health insurance

Are you thinking of changing your insurance company but you don’t know how to cancel your health insurance, or what the consequences are?

Your birthday and the insurance premium skyrocket in the price?

Have they made you an offer for better and cheaper insurance?

In this article, you will find an answer to how to cancel health insurance, if you prefer to live without it or decide to change your insurance company.

We take out insurance with the intention that it lasts over time. Sometimes for one reason or another, we think that the time has come to change. They have raised the price, the service has not been what we expected or they have offered us better coverage. In short, we want to cancel health insurance and do it well so as not to have problems.

Like any other contract, its cancellation is subject to the stipulations established by law or by one of the parties. Therefore, to cancel it, you must do it correctly, acting according to the established procedure.

But also, if you plan to take out other insurance, you must take into account a series of circumstances so as not to have unpleasant surprises.

Are you starting to have doubts about how to do it? To solve them, I will tell you the 5 things that I would do before canceling health insurance.

How to cancel health insurance to avoid problems.

The first thing you should know is that health insurers establish that, in a generalized way, the contract ends on December 31. The duration of the insurance contract is usually 12 months, in the case of health, it is from its signing until the end of the calendar year. On this date, the insurance is automatically extended for one year and so on until its conclusion.

Once we know the date on which the insurance contract expires, these are the 5 things you should take into account before canceling it.

1. The contract cannot be terminated after it has been extended.

Once the insurance has been renewed for one more year, it cannot be terminated. You have to wait until the next expiration to be able to cancel it.

Only in certain cases is it possible to do so in advance: when the insurer, during the current period, modifies the conditions of the contract.

An unjustified increase in the price of insurance, modification of benefits, or a change in healthcare services are grounds for early termination.

If your company has you insured in a group health policy, terminate the employment relationship.

After informing the insurer of a decrease in risk and it does not lower the renewal premium.

2. The insurer has two months to report the new conditions.

Health insurers review the insurance premium every year. This review is carried out taking into account 3 factors: the age of the insured, the profitability of the policy, and the increase in the cost of services.

The health insurance premium is established by age group. Therefore, it should only increase when you go from one age group to another. Serving years in insurance usually means having to pay more.

The more medical care you need, the lower the profitability of the insurance. And the companies are not an NGO, so they try to correct losses immediately by raising the insurance premium. If your contract is also part of a group, you are subject to the accident rate that the group has, with which premiums can skyrocket from one year to the next.

Finally, there is an increase in the CPI (health), the increase in the cost of medical assistance. In recent years this has been around 2%, while insurance companies increased premiums by 4.6%.

The insurer is obliged to notify the policyholder two months in advance of any change in the conditions of the contract. Non-compliance does not exempt you from complying with the rule, but it does give you the possibility of canceling the insurance when it expires.

3. Notify the cancellation at least one month before the renewal.

We have seen how the insurer is obliged to communicate any variation of the contract two months in advance of expiration. You also have two months if you want to rescind it.

And the policyholder or the insured?

Article 22.2 establishes that you must communicate at least one month in advance of the conclusion of the current insurance period, your desire to cancel the contract. And you must do it in writing.

A special mention deserves online recruitment. If this is your case and after purchase to change your mind, you have 14 calendar days to withdraw.

When your relationship with the insurer is through group insurance, where the policyholder anticipates the payment of the premium, you should only communicate your desire to cancel the contract.

Communicate the cancellation through a means of which you have a record. Try to avoid doing it through the customer service phone or the contact form on the web.

4. The beginning of a grace period.

One of the conditions that health insurance has is the establishment of deficiencies when it is contracted. The grace period is the period of time between contracting and the entry into force of certain insurance coverage. I recommend reading How to choose good health insurance: 15 tips to do it right.

When you change your insurance company, it can include new grace periods in your policy that you have already passed. It is very important that you take this into account before making the decision to cancel the insurance.

5. What happens with preexistence or if I am in treatment?

Surely when you first purchased health insurance, you had to fill out health questions. In it, you informed the insurer of your medical history. Now, when you change companies, you will be subjected to a new evaluation with which diagnosed pathologies or illnesses can be excluded from coverage. It is also possible that you will be excluded from the assistance that may be related to pathologies that have already been cured.

Currently, insurers, when it comes to group insurance or in certain commercial promotions, do not include deficiencies or preexistence in their proposals. But be careful, don’t trust the large print on commercial brochures.

Conclusions

If you want to change your insurance policy or do without it, you just have to follow a few simple steps to cancel health insurance.

Inform you of the new conditions that they offer you. Analyze the coverage, the limitations, if you have grace periods or how many years the price is guaranteed.

After the decision is made, the next step is to inform the company that you are canceling the contract. I remind you that you must do it at least one month before the expiration date of the policy, that is, before November 30.

And finally, leave us your answer in the comments to the question:

Are you happy with your health insurer or have you thought about switching to another?

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