The Long Read
Everything you *need to know* is right above this. Scroll down, only if you'd still like to read more (honestly, why?)
This is a great question. Your nominee should know how to make a death claim so they can receive your insurance money that will help them avert any financial crisis after your unexpected demise.
And if you are the nominee, this information will come in handy when you have to make a death claim yourself.
Follow these steps to make a death claim on a term insurance plan:
There are some additional documents you have to submit like:
Death Certificate
Your ID proof
Policy documents
Hospital records and discharge form (if applicable)
Postmortem report (if applicable)
The list of documents will vary from insurer to insurer so, contact your life insurance company for the exact requirement.
Don’t forget to follow this process to a T to avoid claim rejection.
Additionally, here is some information you should know
2 weeks (without any investigation requirement)
120 days otherwise
P.S.: It’s wonderful you will be passing on this information to your nominee to make life easier for them during the claim process.
No, they can take the help of the insurance agent to file a claim.
It is a difficult time for everyone after the loss of a loved one but the term insurance nominee needs to ensure certain things to avoid claim delay or rejection.
They must submit all authentic details and relevant original documents, or it can lead to a claim rejection
To avoid a claim delay, they also must address all further requirements from the insurer ASAP
P.S.: Remember, the term insurance claim will get declined if the life assured (aka you in this case) hasn’t given correct information or not submitted authentic documents at the time of application
When the nominee is filling out the claim form, they need to take due care to fill it properly and avoid any mistakes or incorrect data entry
If your nominee does not feel confident carrying out the claim process on their own, they should reach out to the insurance advisor for help.
After your nominee has filed a claim, the insurer will have to accept/reject it in
2 weeks if there’s no further investigation required
120 days in case of any investigation