Term Insurance Claim

Term insurance claim can be denied in case of improper documentation.


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Term insurance claim can be denied in case of improper documentation. So, inform your loved one’s beforehand to not let them suffer when the need arises.

You won’t be around to help you bereaved family at the time of fulfilling the claim formalities. Therefore, it is best to alert them about the policy terms and conditions, the amount of sum assured, as well as the steps for claiming the same, once you pass away. The more transparent you are with your family, the easier the claim settlement process be!

Benefits of Term Insurance

Benefit #1

Benefit # 1

Term Insurance offers higher coverage at a lower premium. Simply put, these are affordable life insurance plans. If you buy one at a younger age, the premiums would be even lower.

Benefit # 2

Benefit # 2

Term Insurance is the simplest forms of life insurance plans. This pure life cover can be purchased online in no time and there is no investment component with it.

Benefit # 3

Benefit # 3

Term Insurance offers tax benefits for both the premiums paid as well as the payouts made under Section 80C and Section 10 (10D) of the Income Tax Act, 1961.

Benefit # 4

Benefit # 4

While term plans offer a lump sum amount on maturity, you can avail policies that combine lump sum as well as monthly incomes. There are also plans which have an option of lump sum payment with increasing monthly income. This will help your family in managing regular expenses as well as take care of inflation. You can enhance your base term plan at a nominal cost with the help of riders such as waiver of premium rider, accident benefit rider, critical illness rider, etc.

Step-by-Step Procedure for claiming Term Insurance

Term insurance claim process involves three stages:

  • Intimation of Claim – The beneficiary/nominee informs the life insurer with the Death Certificate and submits all the necessary claim documents. These documents should be submitted within 90 days from the date of the death of the policy holder
  • Assessment of Claim – The life insurance company will assign the Claims Team the duty of scrutinizing the documents. In case of any pending requirements, the same is then communicated to the claim beneficiary via a requirement letter. The Claim’s Team may also scrutinise the claims, if necessary.
  • Decision of Claim Settlement – Post the above mentioned steps, if the claim’s team gives a go ahead for the claim approval, then the claim is settled. Consequently, a payment is made to the beneficiary’s/ nominee’s bank account via NEFT. In case the claim’s team denies the claim, a written communication mentioning the reasons for rejection is sent to the beneficiary/ nominee.

Mentioned below is the list of documents that needs to be submitted to the insurer in order to file a death claim:

  • Original Policy Document;
  • Original death certificate;
  • Post-mortem report (autopsy report)
  • FIR and viscera report (if applicable);
  • Claim forms duly filled-in;
  • Certificate from the treating doctor/hospital last attended showing cause of death wherever applicable;
  • Proof of Age

Some of the frequently asked questions about Term Insurance Claims

Yes, term insurance plans would pay in case of death due to accident.


Yes, you can. In order to fulfil your insurance needs, having two plans would be great. You can then appoint nominees accordingly. Having more than one term plan will offer you benefits such as availing death benefit from more than one policy by your beneficiary, avoidance of claim rejection as well as for extra protection

Policy getting lapsed on the date of incidence of claim, non-coverage of a particular event/loss as per the terms and conditions of the policy, loss that is not qualified under the definition of loss which is either marginally or totally as per the coverage definition and the losses that fall under the exclusion list are some of the common reasons for claims rejection.


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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