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Life insurance Claim settlement is a vital aspect of life insurance. While opting for the life insurance policies, people consider the aspect of how prompt a life insurance company processes the claims. At the same time, it is also mandatory from the company’s point of view to follow certain procedures while processing the claims.
Generally one thinks about the process of how to claim life insurance either at the time of Maturity of the insurance Policy or at untimely demise of the Insured person.
In this regard, life insurance claim form becomes vital for how to claim life insurance, under either of the above mentioned conditions. Basically there are two types of life insurance claim forms: Maturity or Discharge Claim Form and Death Claim Form.
In case of death, the process of how to claim life insurance starts with the intimation of death to the insurance provider. In order to assist the insurance company in processing the claims swiftly, the claimant has to intimate the insurance provider, in written, about the death. With the written intimation, the company initiates the process of processing the claims.
The form of intimation or notification can be got from the nearest branch of the insurance providing company or can be downloaded from the company website, if such facility exists.
Once the documents including any one of the life insurance claim form types, and the other required details are furnished, the insurance company will decide upon how to process the claim.
Once the steps for how to claim life insurance have been adapted properly, the insurance companies have to settle the claims within 30 days of receipt of these documents including any one of the life insurance claim forms, even if there are any clarifications need to be made with the claimant. Nowadays the insurance companies act swiftly to process the claims, in order to provide a prompt customer service.