1. There are different types of life insurance claims that can be initiated including death claims, maturity claims, and accident claims. 2. For a death claim, the beneficiary must inform the insurance company and submit documents like the death certificate and policy documents. Additional documents may be required for early deaths or unnatural causes. 3. A maturity claim occurs when the policy term ends and the policyholder has survived. The policyholder submits documents like the policy and discharge form to the insurance company to receive the payout. 4. An accident claim provides additional benefits if death or disability is due to an accident. Documents proving the accident are required in addition to normal death claim documents.

1. How to Initiate a Life Insurance Claim

2. Alifeinsurancepolicyoffersariskcoveronthelifeofthe
individualwhotakesupthepolicy.Itmaybetheonlysourceof
incometothebeneficiaryonthedeathofthepolicyholder.For
thisreason,settlementofclaimsinalifeinsurancepolicy
becomescritical.
Therearedifferentformsofclaims
whichcanbeinitiatedinalifeinsurancepolicy.

3. RIP
Death claims

4. Whenthepolicyholderdiesduringthetenureofthepolicy,the
nominee/beneficiaryiseligibletoreceivethesuminsured
benefits.Thisconstitutesadeathclaim.
Informtheinsurancecompanyofthedeathandgivethe
necessaryproofsinwritingattheearliestpossible.Theplace,
dateandcauseofdeathshouldbeclearlymentioned.
1.

5. Thefollowingdocumentsneedtobesubmitted:
a) Filledupclaimform
b) Deathcertificate
c) Policydocument
d) Medicaldischargepapers
e) Ageproof
f) Certificatestatingthecauseofdeath
g)Claimant’sidentityproof
2.

6. Ifthedeathiscategorisedasanearlydeath(deathoccurring
within3yearsofpolicycommencement),thenthebeneficiary
shouldsubmitadditionaldocuments,likehospitalpapers,
employerformsetc.
Earlydeathclaimsareusuallyscrutinizedwithgreaterdetail
astheyaremostoftenassociatedwithcasesoffraud.
3.

7. Ifthedeathiscausedduetounnaturalreasons,aFIRreport
andapostmortemreportshouldbesubmitted.
4.

8. Maturity claims
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Amaturityclaimariseswhenthelifepolicyhasrunitsentire
termandthepolicyholderhassurvivedthepolicytenureof
moneyback,endowmentorunitlinkedpolicies;asapureterm
policydoesnotcarrymaturitybenefit.
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10. 1. Usually,theinsurancecompanysendsanintimationofthe
maturingpolicyabout2or3monthsbeforethematurity.

11. 2. Onmaturity,thepolicyholdershouldsubmittotheinsurance
company:
a)Theoriginalpolicydocument
b)Thepolicydischargeform
c)AcancelledchequeorNEFTformwith:
c1.Theaccountnumbertowhichthematurityproceedsshouldbecredited
c2.A oneRupeerevenuestampaffixedacrosswiththepolicyholder’ssign

12. 3. Ifallformsanddocumentsareinorder,theclaimproceedswill
usuallybecrediteddirectlytothepolicyholder’sbankaccount.If
thepolicyhasbeenassignedtoanythirdparty,thenthematurity
proceedsarepaidtotheassigneeonly.

13. Accident Claims

14. In some cases, life insurance policies come attached with a
rider which compensates the policy holder in case death or
disability due to an accident.
The benefit paid is usually more than the basic sum insured,
due to the presence of the accidental rider.
The rider comes at an extra cost and the policy holder is
required to pay additional premium towards this.

15. 1. Thebeneficiary(incaseofdeathofpolicyholder)orthepolicy
holderhimself(incaseofdisability)isrequiredtoproduceproof
oftheaccidenttothesatisfactionoftheinsurancecompany.
2. Atotalorpermanentdisabilityduetoaccidentallowsawaiverof
futurepremiumsbypolicyholder.

16. 3. TheFIRandpostmortemreportaremadecompulsoryin
additiontootherdocumentsundernormaldeathcases,as
discussedabove.
FIR

17. Claims when the policy holder disappears
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18. 1. Thelawpresumesdeathofanindividualifhe/sheismissingfor
morethan7years,providedthecourtordersthepresumption
ofdeath.
When a policy holder goes missing, it affects all types of life
insurance; policies with survival benefits, maturity benefits
and/or death benefits.

19. 2. Thenominee/beneficiaryshouldinformthelifeinsurance
companyinadditiontoreportingtothepolice.
3. Ifthepolicyholdercontinuestobemissingfor7years,the
beneficiaryshouldapplytothecourtforpresumptionofdeath.
Whenthecourtordersthis,adeathclaimcanbesubmittedto
theinsurancecompany.

20. 4. Survivalbenefitsormaturitybenefits(ifany)arisingduring
theinterimperiodof7yearswillalsobesettledbythe
insurancecompanybasedonthecourt’sorder.
5. Forallthistowork,thenominee/beneficiaryshouldcontinue
makingpremiumpaymentstokeepthepolicyinforce.

21. Makesuretogetintouchwithyourpolicyagentorinsurance
companyandverifythelistofrequireddocuments.As
processesandrequirementschangeovertime,contactingthe
insurancecompanyfirstwillhelpyoukeepabreastofthe
documentsyouneedtosubmit.

22. Find out more about life insurance and clear your doubts
AGuidetoLifeInsurance
5(VeryWrong)Reasons
PeopleBuyLifeInsuranceinIndia
IsitTimetoReview
YourLifeInsurance?
AreInvestmentLinkedInsurance
ProductsAnyGood?
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