How to Make Life Insurance Claims Online?
Published On Apr 08, 2021, Updated On Apr 26, 2021
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Life insurance is a contract between the individual and the insurance company. Here the individual pays a premium every month to ensure that the company pays an assured amount to the nominees of the individual upon his death. But the benefit has to be claimed by the nominees or other family members of the insurer after his death. Most of the insurance companies have a very simple and hassle-free claim process and it is now possible to make life insurance claims online as well.
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Types of Life Insurance Claims
There are two types of life insurance claims such as death claims and maturity claims:
1. Death Claims
In the event of the death of the policyholder, the nominees can apply for the death benefit. This is also termed as a life insurance claim.
2. Maturity Claims
When the life insurance policy is maturing, the insurance company itself will send an intimation for the policyholder, at least 2-3 months in advance to give the details of the maturity amount payable. Claims will be released when the policyholder sends a discharge voucher along with the original policy document.
How To Make a Death Claim Online?
When the person with a life insurance policy dies, the claim intimation should be sent to the insurance company at the earliest by the nominee or any close relative. It can also be handled by the agent who initiated the policy. Following are the step by step instructions for making a death claim online:
Step 1: Informing Insurance Company About Death
Browse the online website of the insurance agency and fill the claims settlement form to inform the death of the policyholder. The form for submitting claims can also be downloaded from their website. An email can also be sent to the insurance company office in the prescribed format, and the Email Id can be browsed at the website of the company.
Step 2: Send Complete Details to Insurance Provider
The online insurance claims intimation should contain all pertinent information such as the date, place, and also the cause of death. It is important to send all the documents and records about the policy that will be required by the company. The company processes the request based on the information present in the documents. Sending complete information helps with smoother claims processing.
Step 3: Submit Required Documents
The Insurance company will respond to the intimation and will ask to submit the following documents:
- Filled up claim form that is provided by the insurance company
- Death certificate
- Policy document in original
- Legal evidence of the title, in case the policy is not nominated
- Discharge form
- Police FIR in cases of unnatural death
- Hospital records if the insured died due to illness
- Cremation certificate
All valid claims will be settled within the time prescribed by the insurance agency if all the documents are submitted perfectly. The claim money will be sent according to the option mentioned in the claims document.
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Filing the life insurance claim is very easy when performed online as it saves the time and energy of both parties. Insurance companies also prefer electronic fund transfer for quick release of funds.