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What should I keep in mind before I initiate a claim?

What should I keep in mind before I initiate a claim?


The need to initiate a claim usually arises from two situations – on maturity of your Life Insurance policy, or on the unfortunate loss of the life insured. Before you initiate a claim on your Life Insurance policy, it’s important to keep a few things in mind before approaching your insurance provider.


Ask yourself these simple questions:

“Have I paid my premiums regularly?”

“Is my insurance policy still active?”

“If I am making a claim, is the type of claim covered by the policy?”

“Am I the right person to ask for a claim on the policy?”


Once these answers are clear, as a beneficiary, you need to decide how you want your Life Insurance claim to be paid out. The most common choices you could have are:

  • Receiving the entire claim payout as one single amount
  • A scheduled payout of a specific amount
  • A monthly payment depending on the death benefit and your life expectancy
  • Life income for a specified period where you will receive a payment for a definite amount
  • If you are the surviving spouse in a Joint Life Insurance policy, you will be given a fixed sum of money each month for as long as you live. You also have an option to give a portion to a 3rd party beneficiary.


Heading for a maturity claim?

If you have a Life Insurance policy that is to mature soon, you can expect a Policy Discharge Form from your insurance company about a month before the maturity date. The form will also provide instructions regarding which documents you need to provide for.


You as the policyholder must fill the discharge form. Along with your signature, you would need to get the form signed by two more witnesses.


Enclose the following documents with the claim application:

  • Original policy document
  • Copy of identity proof
  • Copy of address proof
  • Bank mandate form with bank details
  • A cancelled cheque leaf


Once you have filled and attached the documents, send them to the insurance company within 5-7 working days before the maturity date of your policy to ensure your maturity claim gets settled seamlessly.



I have a death claim to make.

Our deepest condolences to you if you have lost someone recently. Here is a comprehensive list of the required documents you will need to submit to make a death claim:

Ensure you have the below documents in place. A major reason for a claim delay is when there is partial submission of documents.

  • The claim form duly filled (form will be provided by the insurance company)
  • Death Certificate
  • Life Insurance Policy document
  • Deeds of assignments or re-assignments, if there are any
  • If the policy is not being assigned or nominated, you need to provide legal evidence of title
  • Form of discharge - witnessed and executed


If applicable, you could be asked for other documents such as hospital certificate, medical attendant's certificate, police inquest report, employer's certificate, postmortem report, and more. It’s good to keep them handy.


I have sent my documents. What now?

Once the insurance company receives your documents, the verification process begins. This is when the insurance company verifies your details and thereafter processes your maturity claim to make the payment to you. The maturity proceeds will be credited directly to your bank account.


How long do I have to wait?

If the documentation is complete and no additional documentation is required, your claim will be processed anywhere between 30 - 60 days. This may vary in accordance with your Insurance Provider.

  • If there is a rejection to the claim request and an investigation is required, the investigation is to be completed in not more than 90 days from receiving the claim request. From this date, you will receive the claim within 30 days.


Am I eligible for a claim payout?

You are only eligible for a claim payout if you are:

  • The nominee of the policy or if you are the guardian (in case of the nominee being a minor)
  • The proposer, in case the policy is not in your name
  • Assignee, in case the policy has been assigned to you
  • If it is your policy and you are claiming a living benefit claim such as disability, critical illness and major surgery riders


Sometimes, Life Insurance claims get delayed or denied because of lack of proper documentation or because the correct claim process was not followed. Being aware of how to file a claim accurately, in the long run, will save you both money and effort.


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