Glossary
Date of expiry
Your insurance policy will have an end date and if you choose not to renew for another year, the end date, or date of expiry, will be the last date you are covered by the policy.
Death in service
A death in service policy is often offered as a benefit by employers. If an employee was to pass away while still employed, their family receives a lump sum from the policy, which gives employees some financial peace of mind.
Denial of claim
A denial of claim is when an insurance company refuses to pay for the cost of the healthcare being claimed for. It could be because they haven't had all of the information required, or that the claim was for something not covered by the policy.
Dependant
A dependant is someone who depends on you for financial support - for example, a child.
Direct settlement
This refers to an arrangement whereby the medical costs are settled directly by the insurer so the policyholder doesn't have to settle bills and then reclaim them.