The Buyt Desk
You buy life insurance for the financial well-being of your family. If something happens to you your loved ones will have a fallback option. But buying is not enough you must also inform them about the policy and the procedure of claiming the sum assured.
The easiest way to do this is to draft an email comprising all the details your family should know about the insurance and the claim process. Here is what your email should have.
Include Policy Details and Document – Get a PDF copy of the insurance document and attach it to the mail. Share the password of the PDF document with someone you trust.
Step By Step Guide To Claim The Policy – The family will require the money if something happens to the primary breadwinner of the family. This would be a harrowing time for any family with immeasurable grief. However, making insurance claims as early as possible after the policyholder’s death is pertinent.
Mention in the email different options how your family would establish contact with the insurance company.
The basic information that your mail must include-
- Policy number
- Policyholder’s name
- Policyholder’s birth date
- Place of birth
- Reason for death
- Beneficiary’s name
Documents Details – Your family has to submit a few documents for the claim settlement. Mention the name of documents, such as
- In case of natural death
- Policy claim documents
- Policy document
- Death certificate copy
In case the death has happened because of a medical emergency or accident
Documents required in case of death due to medical reasons.
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Certificate of the hospital
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The certificate of the attendant doctor
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Detailed medical report, having details like date and time of admission and discharge, test reports and death summary
Documents required in case of death due to accident
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Post mortem report
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FIR report given by the police officer
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Final report of the police investigation
During The Claim Assessment, What Your Family Should Expect
After receiving the documents, the insurance company will proceed with the assessment process. Based on the outcome, the insurance company will decide whether to clear the claim or not.
If the documents provided by your family would be complete and satisfies the claim assessment officer, the insurance company will release the claim amount without any problem. The insurance company will transfer the claim account to the beneficiary’s account.
Things Should Be Done To Avoid Claim Rejection
You have jotted down everything that your family should do to claim insurance. Besides that, make a list of mistakes your family should not make to avert the claim rejection.
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Always share complete details and correct information with the insurance company. Any change in information could cause discrepancy issues.
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Take the medical examination report of the policyholder done by the insurer.
Things To Keep In Mind
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Update nominee details if you have made any changes.
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Never miss paying the insurance premium. It is not just for the term insurance but for all the insurance policies.
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Ask your dependent to file the insurance claim as early as possible after your death.
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Instead of asking the insurance agent to fill the claim form for you, consider filling the claim form yourself to avoid errors.
If there is any specific risk you take in your life, that your insurer does not cover talk to them and get it covered
