*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Filing a life insurance claim is one of the most difficult tasks one may face after the death of a loved one. It might worry the survivors that the loved one's value reduces to an amount by filing a claim. But, life insurance ensures that the deceased's family will not have to face financial troubles while coping with the death of a loved one.
When the person assured dies during the Term of the policy i.e. before the date of maturity, proceeds under the policy as a claim, is payable to the beneficiary which is called a Death claim. The person entitled to the proceeds must complete certain death claim 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.
There is another type of claim called as Maturity Claim in which the payment to the Life Insured at the end of the stipulated policy term is called maturity claim.
In case of Death claim, following steps need to be followed by a beneficiary/ nominee:
Documents needed for Death Claim
Following documents are needed for filing a death claim form but the requirements may vary from one insurance company to another.
Accidental Death Claim
Accidental Death Claim form can be filed by submission of the following documents to your respective insurer
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.
The following are Beneficiaries/ Nominees unless otherwise specified by the insured:
The bottom line is to simplify the life by getting prepared for everything whether its death or death claim. Knowing about death claim will not make the sadness go away but it will help you to make the process more convenient.