Retirement Plan Claim

Retirement is the golden phase of your life. Make memories and enjoy every moment by investing in Retirement Plans.


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Once you retire, the regular flow of income comes to a standstill.

Retirement plans, thereby, help you provide a financial shield to let you live life with pride and a comfortable lifestyle post-retirement. There are different retirement plans and each comes with unique features and benefits, and hence it is important to understand what your plan offers as well as its claim process.

Features of Retirement Plans

Vesting age

Vesting age

This is the age when you start receiving your regular pension. Usually the minimum vesting period ranges from 40 years and 50 years. This age is flexible up to 70 years. But, few companies do extend the vesting age up to 90 years

Payment duration

Payment duration

During this period you start receiving the pension post retirement. Say for instance, you receive the pension from the year 61 to 86. Thus, your payment period would be 16 years. Mostly the payment period is separate from the accumulation period.

Duration of accumulation

Duration of accumulation

This is the period when you as an investor pays either regularly or once in this entire period. This phase is the wealth accumulation phase for building huge corpus.

Surrender value

Surrender value

This is the value that your retirement plan acquires on the day you decide to stop paying the premiums in the middle of the policy period.. This would result in losing the retirement plan benefit of the sum assured as well as the life insurance cover.

Step-by-Step Procedure for claiming Retirement Plans

Buying a life insurance plan is vital; equally vital is knowing the claim process. Mentioned below are the 3 simple steps to make a retirement plan claim:

  • Fill up the claims form. This can be downloaded from the insurer’s website or contact the broker or the aggregator or the agent through which you have purchased this plan. Fill in the details such as the policy number, date and time of the policyholder, cause of the death, Nominee’s name, and bank account details of any other policies that were held by the insured person.
  • Attach the supporting documents mentioned below while submitting the claims form

    • Policy document in original
    • Policyholder’s death certificate
    • FIR report, post-mortem report in case of accidental death. The nominee of the retirement plan would also need to submit the Know your Customer (KYC) report to rule out fraudulent cases, identity theft as well as money-laundering issues
  • It is necessary to be prepared with the requisite list of documents since it takes nearly 30 business days to settle your claim. You may also ask for supporting evidences or clarifications in case you are dissatisfied with the documentation part.

Some of the frequently asked questions about Retirement Plan Claims

Yes, it is possible for NPS subscribers to now change their investment options as well as the allocation ratios for their corpus twice in a financial year. Currently, such changes are possible only once in a financial year.



You very well know that you’ve paid for it but are hoping to never require using it! When you file an insurance claim, you probably have suffered some type of loss or damage that is insured by your Insurer. This is when your Insurer offers you coverage and compensation for the losses covered or for the damages after validating your claim. So it is vital to be familiar with the claim process to avoid any headache at the later stage.

Your Policy

You may have bought an insurance policy, yet have thousands of queries and doubts. Our ‘Your Policy’ section is the fastest way to resolve your insurance related doubts and queries. All you need to do is attach your active insurance policy and write to us about your queries. We never let our customers down.

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Calculate your Needs?

Many questions may come in your mind before buying an insurance policy. ‘How much insurance I would need, how many years I shall invest for, what would be the premium, etc.. Insurance Calculators are life-savers. They help you know your insurance needs and assess the potential costs. Grey Font brings to you various Insurance Calculators and interactive tools to help you calculate your insurance needs. In order to get better results, ensure to enter a value in all the possible fields.


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