Things to Know Before Filing a Death Claim

Have you lost a dear one in your family? Are you now concerned about financial instability and distress? If you are the nominee of the term insurance policy your loved one had, know that you have to file a death claim so that you can get the death benefit from the insurance company and protect other members from financial and emotional imbalance.  

What is a Death Claim?

A death claim is filed with the insurance company by the nominee so that they can receive the predetermined sum assured. The death claim is filed when the policyholder dies within the term plan tenure, in other words, before the policy matures. The nominee has to provide the proof of death and other necessary documents while filing a death claim. 

How a Death Claim is Filed?

Filing a death claim requires a certain process to be followed as well as submission of specific documents. It is important for a nominee to be aware of the different processes and the documents required before filing a death claim. 

Note that there are two kinds of deaths that an insurance company considers. The first one is early death. The second is non-early death.

In case, the insured individual dies within 3  years of the term plan period, it is referred to as an early death. Otherwise, it is called a non-early death otherwise. 

It is also important for you to know that one has to submit a specific set of documents to file a death claim. Learn that the documents required may vary based on term insurance plans as well as insurance companies. 

Also read - Documents Required Life Insurance Claims

Here is how you can file a death claim.

1. Inform the Insurer

As a nominee it is your ultimate responsibility to inform the insurance company about the death of the insured individual. Note that the insurance company must be informed about the policyholder’s death without any delay. You can either call the insurer or avail online options to inform the insurer. 

2. Follow Claim Process

You will have to follow the claim process. To begin it in the best possible way, as a nominee you will have to submit supportive and valid documents. Note that the desired documents will vary in case of natural and accidental death. Once received, the insurance company will further check the documents, perform analysis of the claim and the nominee declaration.

Documents Required When Filing a Death Claim

List of documents required in case of natural death include:

• Original policy document.
• Death certificate - original or copy.
• Hospital medical death report, if any. 
• Nominee’s identity and address proof.
• Bank passbook details.

It is also important that the nominee receives the claim form from the company and fills it properly before submitting.
 
List of documents required in case of accidental death:

• Original policy document.
• Detailed report on the date, type and location of accident.
• Post mortem report.
• Final Police Investigation report.
• FIR report.
• Doctor's statement.
• Hospital's declaration statement.
• Death certificate.
• Cremation certificate.
• Employer's report.
• Test reports, admission, and discharge summary.
• Insured’s and beneficiary’s identity proof.

Also required is an accidental death claim report that is issued by the insurance company. 

On receiving all the desired documents, the insurance company will commence its verification and later process the claim. At last, the pay-out is transferred to the beneficiary's bank account.     

You may also like to read - Do I Still Need Term Policy If I Have Health Insurance?

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.