What are the Documents Required for Filing a Life Insurance Claim?

As the name suggests, a life insurance policy offers financial protection to the policyholder’s family in the event of their death. However, to avail of the insurance benefits, one needs to claim the insurance at the right time and in the right way.

Read on for detailed insights into the insurance claim procedure, its types, required documents, and more.

You can claim life insurance upon completion of the policy tenure or after the policyholder's demise. The beneficiaries or nominees of the life insurance policy or the insurance agent can send a claim intimation to the insurance company to initiate the settlement process.

You need to provide all the essential details required to claim the insurance. For instance, in death claims, you need to provide information like the cause of death, when and where it happened, etc. Generally, the agent helps beneficiaries fulfil all the formalities properly for a seamless claim settlement.

Sometimes, the insurance company may ask for additional documents to support the claim process. It may include additional information regarding the policyholder’s death in case of death claims, details of the accident, or medical conditions in case of rider claims, etc.

The insurance company can contact you through email, SMS, or call to ask for additional documents. Alternatively, you can reach out to them via their customer service helpline, email, or official website to learn more about the required documents.

1. Death Claim

This is the most common claim type in the case of life insurance policies. If the policyholder dies within the policy period, the nominee can opt for a death claim to receive the death benefits from the insurance company.

Your death benefit amount will be determined based on the policy terms and conditions. For instance, in term insurance, there is a predetermined sum assured, but in permanent life insurance, you can avail of cash value, which accumulates over the policy period.

2. Maturity Claim

You buy a life insurance policy for a specified duration and pay regular premiums throughout this period. The policy matures once this duration ends.

If a policyholder survives the policy period and has paid all the premiums on time, they can make a maturity claim. The maturity benefits depend on the type of policy. For instance, endowment plans or money-back policies provide such benefits.

3. Survival Claim

4. Surrender Claim

5. Rider Claim

Policyholders often add rides (add-ons) to their life insurance policy for extra protection and coverage. Riders cover specific events like accidents, serious illnesses, etc. So, to claim a rider, you need to meet some special criteria based on the insurance type you choose.

Here are some of the important life insurance riders that you can buy:

• Accidental Death Benefit Rider
• Accidental Total and Permanent Disability Rider
• Critical Illness Rider
• Waiver of Premium Rider
• Terminal Illness Rider
• Income Benefit Rider

Step 1: Contact your insurance provider to obtain the insurance claim form. you can visit the insurance office or get the form online as per your convenience.

Step 2: Fill out the claim form with adequate information as required and enter the policy number and other details. Depending on your insurer, you can complete this process either online or offline.

Note: In case of maturity claims, you can approach after completing the policy period. However, for death benefits, the nominees can make a claim after the policyholder’s death. 

Step 3: Submit all the documents as requested by the insurance company. Make sure all the documents are correct, as the company will conduct a close verification before releasing your insurance benefits. 

Step 4: Once the verification process is completed, your claim amount or sum assured will be released within 30 days.

It is essential to submit the right claim documents when making a life insurance claim. It helps make the claim settlement procedure faster, smoother, and more accurate. If you provide incomplete information or wrong documents, it can delay the verification process, causing you to struggle with financial adversities.