Life Insurance Death Claim Process

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  • What is Death Claim?

    • When the life assured dies, the beneficiary/nominee becomes eligible for receiving the sum assured agreed upon in the policy docket. But prior to getting the death proceeds, the beneficiary/nominee has to file an application along with the supporting documents. This step is known as making a death claim.
  • When is a Death Claim Rejected?

    • If the cause of death falls under one of the exclusion clauses under the policy, it is most likely to be rejected by the insurance company. For instance, death caused by suicide within the first year of the policy will not be accepted as a valid claim by any insurer.
  • What are the Documents Required for Making a Death Claim?

    • Documents required for making a claim vary from insurer to insurer. However, the key documents are:
      • Death certificate
      • Original policy bond
      • Claim form
      • Other supporting documents    as required

Life Insurance Death Claim

Life insurance claims can be classified into two broad categories:

Death Claim: When the life assured dies during the Term of the policy i.e. before date of maturity, proceeds under the policy as a claim, is payable to the beneficiary which is called as Death claim. The person entitled to the proceeds must complete certain forms giving due proof of the death and establishing the claimant's right to such proceeds. When filed with the company, the company is said to have received a death claim.

Maturity Claim:The payment to the Life Insured at the end of the stipulated policy term is called maturity claim.

• In order to file a claim the following steps need to be followed by a beneficiary/ nominee in case of a death claim Claim intimation/notification
• Procurement of required documents
• Submission of required documents for claim processing
• Settlement of claim

Documents needed for Death Claim

Following documents are needed for filing a death claim but the requirements may vary from one insurance company to another.

• Death Certificate
• Original Policy Bond
• Claim forms that are issued by your insurer along with other supporting documents as required.

Accidental Death Claim

Accidental Death Claim can be filed by submission of the following documents to your respective insurer

• A fully completed Accidental Death Benefit Claim Form.
• Death Certificate.
• A medical report indicating the cause of death.
• A written statement outlining the date, location and circumstances of the accident.
• Police FIR copy
• Official documentation proving the insured member's family status, and for the beneficiaries, proof of identity as well as proof of relationship to the insured member.

Beneficiary / Nominee

The term beneficiary is used to describe a person or entity who is designated to receive a death benefit from a life insurance policy.

There are three different types of beneficiaries in life insurance policies who are eligible to receive death benefits.

Preferred Beneficiary this can either be a spouse, parent, child or grandchild

Primary Beneficiary: this is the first choice life insurance beneficiary to receive the benefit. You can designate more than one primary beneficiary depending on the provisions of your insurance policy

Contingent Beneficiary: this is the person who will receive the death benefits if the primary beneficiary dies before or at the same time as the insured. In case there is no contingent beneficiary, the proceeds are passed to the estate.

The following are Beneficiaries/ Nominees unless otherwise specified by the insured:

• The insured member's spouse, if not legally separated.
• Failing the spouse, the insured member's surviving children including step-children, adopted or foster children and children born less than 300 days from the date of the insured member's death, in equal shares among them.
• Failing the children, the insured member's father and mother, in equal shares between them, or to the survivor of them.
• Otherwise, the insured member's estate.

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