Insurance products are one of the means to deal with the risks to which the insured may be exposed and help him to bear the resulting financial burdens. Through the insurance policy, the insured obtains protection against risks or losses that may be inflicted on him or caused by others in accordance with the provisions of the terms and provisions of the insurance policy, and in return the insured undertakes to pay the agreed premium.
Insurance products differ from each other in terms of the purpose and coverage of the insurance, but there are some basic information that the client should know and verify before signing the insurance contract, which are the following:
1. Service provider
It is one of the insurance companies authorized to carry out the insurance business in the Kingdom of Saudi Arabia, and the insurance company may provide its services through a third party called an insurance agent, but must ensure its commitment to complete the transactions in a framework that guarantees the interest and protection of the client. Visit the institution's website.
2. Prices and costs
The insurance company is obliged to follow the pricing requirements specified by the institution, which the client has previously approved as one of the requirements for approval of insurance coverage. Insurance brokerage firms must also provide the client with the best quotes from various companies, with an explanation of the reasons for nominating one of these offers.
3. The period of insurance coverage
It is the period in which the client has the right to obtain the benefits of the insurance agreed under the insurance policy, and as a general principle, the obligations of the contracting parties end with the end of the policy period, so the insured must make sure the policy is renewed before its expiration date. To make sure you continue to get these insurance benefits.
4. Terms and conditions
The terms and conditions of the insurance policy should be read carefully and accurately before signing the contract, and inquire about all unclear elements to avoid any future disagreement, and the client can also request to obtain a free copy of the contract for reference. at any time, as well as obtain all the brochures issued by the company about the product. What offers.
5. Exceptions to the insurance policy
Attention should be paid to the ceiling of insurance coverage and familiarity with exceptional cases or damages that are not covered by the insurance policy, or of the coverages that fall under the additions (extensions) that are generally added at the request of the insured, such as obtaining a replacement car when exposed to an accident in exchange for an additional charge for the insurance policy. AV mass.
6. The obligations and rights of each party
The insurance company is obliged to clarify the rights and responsibilities of each party in a simple and clear way, and respond to all customer inquiries, and the customer must also be aware of all the obligations contracted by him under the contract and guarantee their ability to fulfill them.
7. Claims settlement procedures
The insurance company clarifies the mechanism for submitting claims and the documents necessary to settle them, in addition to explaining the reasons for the rejection of the claim if it is not approved.
8. Communication channels
The insurance company must disclose the addresses of the company's offices and the means of contacting the company, such as email, phone number, and company website.
9. Submit and manage complaints
The insurance company provides the means to receive customer complaints and to object to the services and products provided to them, and then to follow the necessary procedures and measures to deal with and resolve them fairly and immediately. In case the customer is not satisfied, she can submit a complaint to the Saudi Arabian Monetary Agency through the portal "Sama Cares".
The insurance contract represents an agreement between the insurance company and the client in order for the client to obtain insurance benefits according to their capacities and financial aspirations in exchange for paying a certain amount of money, for which the client must ensure to read and understand the insurance contract in order to know their rights and obligations derived from it, and to be able to choose the best insurance products and preserve their rights.
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