Life Insurance Claim: Life insurance policy is very important for everyone. After the death of a person, it provides financial security cover to his family. But many times after the death of the policy holder, the family members have to struggle to get the claim. Let us know how to claim a life insurance policy and what steps to take in case the claim amount is not received on time.
People take life insurance policies so that their family does not have to face financial crisis in future. But do you know how to claim the policy? What should you do after the death of the policy holder? If there is delay in payment even after you claim, what can you do in this situation? Let us know the answers to all the questions in detail.
How to file a life insurance policy claim
1. Immediately inform the insurance company on the death of the policy holder. You can inform by contacting through phone, email or company website.
2. Submit all the required documents. Such as claim form (form provided by the insurance company), death certificate of the policy holder, original policy document or its copy, identity proof, Aadhaar card, PAN card or other government ID of the claimant, medical documents (if death occurred due to illness, then hospital records or doctor’s certificate)
3. Collect all the required documents and submit them by visiting the branch of the insurance company or submit through the online portal.
4. The claim and documents will be verified by the insurance company, which may take 30 to 90 days.
5. After the verification is completed, if the documents are verified, the amount is transferred to the claimant’s bank account.
What to do if there is a delay in insurance claim payment?
In many cases, after the death of the policy holder, the insurance companies do not give the claim amount to their family members on time. Due to this, the family members have to face financial crisis. If such a situation comes in front of you too, then know what you can do in that situation-
1. First of all contact the insurance company. For this you can go to the branch of the insurance company or talk to the customer care. Where you will know the reason for the delay in the status of the claim.
2. If you are not satisfied with the response of the insurance company, then you can make a written complaint to the Grievance Redressal Officer of the insurance company. You can complain through email or letter. Include the policy number, medicine number and complete details of the previous conversation in the complaint.
3. If the insurance company still does not respond to you within 15 days, then a complaint can be made to IRDAI. For this, you can file a complaint on the complaint redressal portal www.policyholder.gov.in. Complaint can also be lodged with the help of toll free number 155255 or 1800-4254-732.
4. If you do not get a solution from IRDAI, then you can file a complaint with the Insurance Ombudsman of your area. To complain here also, you will have to submit the responses of the previous conversation along with all the documents.
