CMS-1561A 2002-2024 free printable template
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Hello in this video discussion we will discuss what you need to know about signing the release and getting your money let's suppose you just hang up the phone after agreeing on a settlement amount with the claims' adjuster at this point you're only a few steps away from wrapping up your claim and receiving compensation, but you're not out of the woods yet let's take a look at those final steps to make sure you don't miss anything step one is the confirmation letter within 24 hours after coming to a verbal agreement with the adjuster you need to send a letter confirming the amount you agreed upon make several copies of the confirmation letter send one to the adjuster by certified mail return receipt requested Ararat and keep a copy for your records you need to send the letter certified RRR, so you have proof the letter was mailed and proof of the date the adjuster received it at about the same time you should receive a similar confirmation of settlement letter from the insurance company we've included a sample confirmation of settlement letter below step two is the release form and settlement check you should receive a release form from the insurance company within a few weeks some insurance companies send the release check along with the release form and state you must sign and return the form before you cash your check however most companies won't send your check until you sign and return the release either way read the release form very carefully, although the insurance company probably won't make any mistakes it's always important to know what you're signing make copies of the signed release and the check and keep them in your personnel file here's a quick note on property damage claims if you've also filed a property damage claim, and it hasn't been settled by the time you receive your personal injury settlement carefully check the release form for any language stating the settlement check includes your property damage payment do not sign the release until you're absolutely sure your property damage amount will be paid separately, or you verify it's included as part of the settlement check you just usually received property damage claims are settled quicker than personal injury claims but not always, so you must review the release form carefully, and it's important that you understand the release for insurance companies along with varying states provinces and other legislative bodies may require unique language in their releases the exact wording may differ, but they all contain the same basic information the language can take up a full page or more but generally covers four important items you should understand one by signing the release you fully and completely release and indemnify the at-fault party and the insurance company from having to pay you any additional money this means that even if you later discover you have additional injuries related to the same accident you will not receive any further compensation to the insurance company...
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