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Claim Your Insurance Today

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Get Your Benefits More Easily!

Life insurance policies are the legal contracts that help in avoiding the financial hardships for the rest of the family upon sudden death of family member. In order to provide peace of mind to their loved ones, a person has to be life insured. Life insurance Policy is a genuine contract between the Insurer and the policy holder, where the insurer promises to pay the policy holder a fixed sum of money, which is considered as a Beneficiary amount, upon the death of Insured person. In this case the Proposer and the insured person need not be the same.

Various terms and conditions are put forth even before making the contract. They include the following:

A Proper Premium Payment Plan:

The policy holder should choose a proper premium payment plan that can be monthly, quarterly, half yearly or annual.

Claim Within the Tenure:

Claim of the policy should be done within the duration of plan for which premium has been paid.

Nullifying The Policy:

If the policy holder dies in a situation creating any element of doubt, or dies by committing suicide within 2 years of buying the policy, then the claim will be nullified.

For most of the investment plans, Maturity amount once paid ends the policy unless mentioned otherwise in the policy document.

Claiming the life insurance–

Life insurance can result into claim only in below mentioned circumstances:

Upon the maturity of the investment life insurance policy, i.e., on the completion of the tenure for which the insurance has been taken.

Upon death of the insured person, during the Coverage period.

Upon the surrender of policy for cash value.

Outline procedure involved–

Maturity claims–

If all the installments regarding the policy are duly paid and if the policy is still in force, following procedure is observed:

The servicing branch sends an intimation two months before the due date of the policy.

The policy owner can then submit the discharge form one month in advance.

S/He can then claim his payment amount by the due date of the maturity claim.

Death Claims–

In order to claim thelife insurance policy, the nominee has to submit in certain proofs and details. Only upon submission of below mentioned details, one can attain the discharge form:

1) A properly issued death certificate with all necessary attestations.

2) A death proof statement from the doctor.

3) Proof about the last illness from the treated hospital authorities.

4) Cremation certificate.

5) Employees certificate, if s/he is an employee at the time of death.

6) A clear death intimation letter, holding the details like:

7) Name of the assured

8) Death statement

9) Date and cause of death

10) Place of death

11) Policy number

12) Claimant’s relation with the assured.

Claims Processing–

After filling a claim, the company ends the task of an investigator, who verifies the details and carefully evaluates all the provided information to prevent any sort of fraud. The statement submitted by the investigator to the insurance company will be considered as the final one. Payment is made upon completing the above-mentioned formalities.