Published Article Details

How to make a death claim in life insurance policy

Posted by: Girija Gadre on Mar 26, 2018, 06.30 AM IST

Life insurance covers the risk of loss of income to the family of the insured in the event of his death. The family or nominee of the insured is required to carry out the mandated procedure to receive insurance claim. Here are the steps that need to be followed.

Inform the agent
It is the responsibility of the insurance agent to assist the bereaved family with the claim process by providing policy details and documentation. Hence, the first step is to inform the agent about the death of the insured.

Claim intimation
The nominee needs to inform the insurance company about the death of the insured as soon as possible. The claim intimation should carry details like date, place and cause of death.

Claim form
Once the death intimation is made to the insurance company, it will record the same and ask the claimants to fi ll up a death claim form and submit it along with a list of documents.

Documents
The requisite documents are:
• Death certifi cate
• Original policy document
• Deed of assignments, if any
• Discharge form
If no nomination has been made, the claimant is required to attach proof that he is legally entitled to make the claim.

Process
The insurance company will verify the claim and may ask for additional documents. If the insurer is satisfi ed with the genuineness of the claim, it will inform the claimant accordingly and pay the death claim amount.

Points to note
1. Claim intimation can be made by any relative of the insured, even if they are not a nominee or assignee.
2. In case of a unit linked insurance plan, the death claim is equivalent to the sum assured or the fund value, whichever is higher.

(The content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.)
This article appeared in Economic Times dated Mar 26, 2018, 06.30 AM IST

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