How To Make Quick Online Life Insurance Claims?

In the eventuality of the death of the policy holder, the beneficiary can avail the benefits accruing under the policy by following certain simple logical steps and claiming the amount. Though the details may vary from one insurer to the other there is a simple process for making online insurance claims.

Steps To Make A Life Insurance Claim Online

Now let us see how best we can set this procedure into motion so that one can quickly avail the benefits from making the online insurance claims. 

Also Read:- How Much Additional Life Insurance Coverage Do You Need?

Step 1 :  Inform the insurance company without delay

This is the first thing to do  for making a claim. The nominee or beneficiary must advise the company with precise details regarding the death of the policy holder. The best way to do this is to send an email quoting the policy number and the policy holder’s name. 

Step 2: Making the claim

Gathering and submitting all necessary documents - 
To make the online insurance claim, you will need to go to the portal and submit all the documents that are requested. They may be:

• The original policy documents
• The death certificate
• The death claim application form( as specified by the insurance company)
• Police first information report (in case of unnatural death)
• Hospital records (in case of death due to illness)
• Identification document in support of the beneficiary( again, check the insurance company site for specifics)
• Electronic fund transfer forms attested by bank authorities along with a cancelled cheque will also be needed.

Please note that all these documents will be required in original.

Life insurance claims are normally honoured within 30 days from submission of all documents. But this may take longer if some of the documents are missing. Also claims can be rejected on the grounds of false/erroneous documents. It is therefore critical that all original documents be arranged for before submitting the claim.

Step 3 : Receiving the Sum Assured

Once all the necessary documents have been submitted, in line with the insuring body’s requirements, the claim is processed and honoured. The sum assured is paid after ensuring that all premiums have been paid as per the policy and the funds are transferred, using the bank’s mandate, of interbank transfer.

Conclusion

Though it may seem very cumbersome and procedure driven, once all the required documents are in place, the entire process is quite straightforward and online insurance claims can be made in a simple and hassle free manner. So remember –  I M R: Inform the death – of the policy holder, Make the claim – with all supporting original documents and Receive –the sum assured.

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All About Life Insurance Corporation of India