Life insurance claim-
Formalities for a death claim
When a person dies after living, i.e. a life insurance policy, then an insurance claim notice should be sent to the insurance company as soon as possible. Appointed under the policy or nominee can do this. A close relative or a responsible agent can also do this for the policy.
Claims should have information on date, location and reason of death etc. It is the duty of the insurance agent to help the insured person’s family / employed person to complete the claims formalities from the insurance company.
The insurance company will respond to this information and ask for the following documents:
- Filled claim form (given by the insurance company)
- Death certificate
- Policy document
- Assignments / Deed of re-assignments, if any
- If the policy is not assigning or nominated, then the legal evidence of the affidavit
- Discharge form including executed and testimony
Other documents, such as medical attendant’s certificate, hospital certificate, employer’s certificate, police investigation report, post-mortem report etc. can be demanded, as per the rules.
Formulas of Maturity Claim
When a life insurance policy gets mature, the insurance company often submits information to the policyholder with discharge voucher, at least two to three months before the maturity date, in which information like payment maturity amount is.