Frequently Asked Questions About Life Insurance

1. Is life insurance worth buying?

Yes, life insurance is a worthy purchase. Anybody with financial dependents will find the benefits of buying life insurance attractive. In case of the demise of the only income earner, a life insurance policy becomes a financial safety net that helps your loved ones pay for expenses such as a loan, childcare, education, health, and many other everyday bills. Life insurance is an affordable way to financially protect the people you love most.

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2. How to claim life insurance after death?

It is a simple process. You can report your claims online, at our branches, central office, via SMS, e-mail or through our call center as per your convenience. Physical documents will be required to be sent to the nearest branch to start the process. The documents needed are:

• Claimant’s statement form
• For Lender Borrower Group (only for Credit Life policies) – claimant’s statement / claim intimation form
• For Affinity / Employer-Employee Group – claimant’s statement / claim intimation form 
• Original Policy Document
• Copy of death certificate issued by Local Municipal Authority
• Copy of claimant’s photo identification proof and current address proof
• Cancelled cheque/ Copy of bank passbook
• Copy of medico legal cause of death certificate
• Medical records (admission notes, discharge/ death summary, indoor case papers, test reports, etc.)
• Prior medical records of insured/ Life assured
• Medical attendant’s/ hospital certificate issued by doctor
• Certificate from employer (for salaried individuals) 

In addition, below Documents required for Accidental/ Suicidal Death

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• Post Mortem Report and chemical viscera report
• FIR/ Panchnama/ Inquest Report and final investigation report
• Copy of driving license if Life Assured was driving the vehicle at the time of accident (applicable if ‘Accident and Disability Benefit Rider’ is opted)
• Next, our claims department/team will assess the claim and inform in case any further documents need to be submitted. Once your claim is intimated and the life insurance company receives all the relevant approvals and then settle all the valid claims through cheque or Electronic Clearance System (ECS)

3. How many beneficiaries can be on a life insurance policy?

There is no limit on the number of beneficiaries you can add to your policy. However, if the insured has a will and it specifies who the amount of the insurance benefit should go to after he/she passes away, then the benefit will go to the person mentioned in the will irrespective of the mentioned nominee.

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4. How long does it take to get life insurance amount after a death?

• We offer Claim For Sure. It guarantees death claim settlement in 1 day^*. It offers quick and hassle-free claims service when your family needs it the most. It also pays interest^# on claim amount on every day of delay beyond one working day.

To avail Claim For Sure

• Policies that have been active for 3 consecutive years^{^}
• All Mandatory claims documents^** are submitted at branch
• Total claim amount of all the life policies held by the Life Assured <= ₹ 1.5 Crore
• Claim does not require any on- ground investigation
• Working day will be counted as Monday to Friday