Check your policy before going on holiday
FNB: Review and update your funeral or life policy before going on that well-deserved holiday.
The last thing anyone wants to think about when planning to go on holiday or visiting family over the festive season is preparing for the unfortunate event of death, injury or disability resulting from car road accidents, said Lee Bromfield, CEO of FNB Life.
Statistics released by the Ministry of Transport earlier this year revealed that road accidents and deaths increased by 11 and 14 per cent respectively between 1 December 2015 and 11 January 2016.
Bromfield said according to the statistics, the probability of getting involved in a car accident significantly increases over the festive season. If you are going to be travelling on the road it is important to review and update your funeral and life policies in case anything happens to you or your family.
“Also take extra precautionary measures and avoid illegal and irresponsible behaviour or doing anything that may result in your insurer delaying to process your claims,” cautioned Bromfield.
The Ministry of Transport found that human factors mostly contributed to road accidents, including jay-walking, speeding and overtaking on the wrong side of the road, hit-and-runs as well as drunk driving.
Bromfield said in the event of an accident while travelling, the most important thing is to ensure that you and your family have sufficient cover and can seamlessly claim from your insurer without experiencing any challenges.
He said just because your debit order goes off every month it does not mean you do not need to update your policy. If there has been any change in your personal details such as marital status, address, contact details and beneficiaries, you should update your policy.
Furthermore, also make sure that the cover amount is still sufficient as your personal circumstances may have changed, such as the size of your family and/ or your financial responsibilities having increased.
“Before going on that well-deserved holiday take a few minutes to review and update your funeral or life policy and have peace of mind knowing that you and your family will be adequately covered in the event of an accident,” concluded Bromfield.
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