Insurance got you feeling like a fish out of water? Drop us a question and our team will cast a net of knowledge. Join the thousands who've found answers with us!
Explain the claim process for term insurance
Hello Ramesh, There are many different steps involved while filing a claim on a term insurance plan. In case of unfortunate death of the insurance holder, the dependents (family members) or beneficiaries under the term insurance policy should inform the insurer as soon as possible. To support the claim filed, it is necessary to submit all the required documents. However, before contacting the insurance company, the beneficiary should keep some important facts in mind.
1. The insurance policy should be in force, and all the premiums should be duly paid.
2. The specific situation for which the claim is filed should be covered under the term insurance.
3. Policy exclusion.
To know more about the claim process, visit here
