In this article of Jeevan Bima Bazaar, we are going to present answers to some of the questions related to Death Claim which are often asked by Life Insurance Agents and Policyholders. Life Insurance is not just a means of saving, but it is the basis of Financial Security for the future of the Policyholder and his Family.

Now if you are an Insurance Agent, then you must have answers to all types of questions related to Death Claim. So that, you can help your policyholders and their nominees at the time of claim. We also want to tell you that if you have some questions related to Death Claim which have not been answered here, then write it in the comment box. We will be happy to help you.

There are many such families in modern Indian society in which only one member of the family is the breadwinner. That member of the family has the responsibility of all the other members. In such a situation, if that breadwinner dies, then the family faces a huge financial crisis.

To protect the family from such Financial Crisis, the earning person buys a Life Insurance Policy on his Life. After buying a Life Insurance Policy, if the earning person dies, the Life Insurance Company pays the Insurance Amount to his family. After the death of the head of the family, the Death Claim Amount of Life Insurance Policies proves to be very helpful in overcoming the Financial Problems of the family.

The Policyholder Must do this Work

I know that it is very difficult to even imagine death. In such a situation, talking about Death and making people aware of its consequences is a very difficult and saddening task. But still, if you are a Policy Holder, then it is very important for you to give information to your family members regarding the Death Claim of the Life Insurance Policy.

This is also important because after death, when the Death Claim is needed, at that time the head of the family is not with his family and the family which does not know the Process of Death Claim, often such families have to face a lot of problems in getting the Death Claim From the Life Insurance Companies.

Sometimes some such small mistakes are also made by the Policy Claimant. Due to which the payment of Death Claim is either delayed, in some circumstances the Death Claim is also rejected. So once again I will tell you that if you are a Policy Holder, then definitely give all the information regarding the Death Claim to the other member of your family.

What is Meant by Death Claim in Life Insurance Policy

Death claim in Life Insurance Policies means the amount that the Nominee of the Policyholder receives from the Insurance Company on his Death. In case of Death of the Policyholder during the Policy Term, the Nominee declared in the Policy has the right to receive this Amount as per the terms of the Policy, provided that the policy should be in full force at the time of the Policyholder's Death. The process of receiving this amount is called Death Claim in the field of Life Insurance.

Death Claim Process:

Immediately after the Death of the Policyholder, the Nominee declared in the policy should inform the Life Insurance Company about this incident in writing. Immediately after the written information of the Death of the Policyholder, the Insurance Company issues the Necessary Documents and other guidelines regarding the Death Claim of the Policy. Let us understand about it:

Submission of Death Certificate

Immediately after the Death of the Insured, the nominee should obtain the Death Certificate of the Insured. After this, he should write an application giving detailed information about the Death of the Insured. Now this application and the Death Certificate should be submitted to the Branch Office.

Death Intimation Application

If you are an Agent of Life Insurance Corporation of India or you are a nominee and you need an application to inform LIC about the Death of the Insured, you can download it by clicking on the button below.

Filling Death Claim Form

When you inform your Life Insurance Company about the Death of the Insured, the Insurance Company gives you some forms related to the Death Claim. All such forms given by your Life Insurance Company are called Death Claim Forms. It is mandatory for the nominee to fill this form and submit it to the Insurance Company.

How to Fill Death Claim Form for LIC

If you want to get information about filling various types of Death Claim Forms of Life Insurance Corporation of India, then this information is being presented through various articles of our website. You can get such information by clicking on the Next Page button given at the bottom of this page.

Submission of Other Documents

The Death Claim Process for Life Insurance Policies may require some additional documents such as Photo Identity Proof, Residence proof, Photocopy of Family Register, Hospital Report, Post Mortem Report, etc.

Verification by the Insurance Company

Once all the Death Claim Forms and other Required Documents are submitted by the Nominee, the Life Insurance Company verifies these documents and ensures that all the conditions related to the Death Claim have been fulfilled and there is no case of fraud.

Death Claim Settlement

After verification, the Insurance Company pays the Death Claim. This amount may include the Sum Assured of the Insurance Policy along with bonuses and other benefits, depending on the type and terms of the policy purchased.

Amount Received in Death Claim

At the time of purchasing the Life Insurance Policy, it is decided between the Insurance Company and the Policyholder as to how much amount the Insurance Company will pay to the nominee on the Death of the Policyholder and what will be the other terms? At the time of issuing the policy, it is also decided how much premium the policyholder will have to pay to get the benefits mentioned under the policy purchased.

Usually, the amount received by the nominee of the policyholder on his death is called the Sum Assured. As per the rules of the policy, many times the Insurance Company can also pay bonus and Final Additional Bonus along with the Sum Assured.

Know in Detail in the Video

To know more about the information given in this article, watch the video given below carefully till the end. If you have any questions in this regard, then write your questions in the comment box of the video.

Many people have difficulty understanding the Policy due to the insurance terms and technical terminology in the Life Insurance Policy. Due to lack of information related to the Insurance Sector, it becomes difficult for common people to understand these terms, due to which many types of questions arise in their mind.

In this article of Jeevan Bima Bazaar, we are trying to present the answers to all types of questions related to the Insurance Industry in the simplest format, so that you can easily understand the answers to your questions. I believe that this information will prove helpful in making the right decision in terms of Insurance Policies and will clear all your doubts.

Just as LIC Survey Form is useful for customers, it also proves to be a very beneficial tool for LIC Agents. If you are a LIC Agent and use LIC Survey Form, then this form empowers you to establish yourself as a Professional Agent in your Area. On the other hand, when you proceed with the Survey Form, your customers understand that you try to understand their problems and needs in depth.

From this you can guess how important a tool this form can prove to be for you. But just like an untrained novice driver can get into an accident on a busy road in a city, in the same way if you start any survey from LIC survey without any training, then believe me there is a high possibility of an accident. But you do not need to worry, because now you are in the training process.

So in today's training program of Jeevan Bima Bazaar, we will learn in detail about the first question from the second section of the Survey Form, its effects and results. As a trainer, we would suggest that you prepare notes of the important points given here.

LIC Survey Form and You

As an LIC Agent, when you go to your work area with a Survey Form, I feel as if a lion is going to the jungle to hunt. Now the question is what is the prey? So sir, these important questions of the LIC Survey Form are the prey. I would say that if you make the mistake of considering these preys to be very weak, then I am afraid that you yourself can become a prey.

If you want to ask these questions in a light-hearted manner and get away with it, then I would tell you not to even think of making such a mistake. Because all these questions are a golden opportunity for you. With the help of these questions, you can prove yourself as the best agent.

First Question of Survey Form

The first question in the LIC Survey Form is, “Are you expecting any funds which were supposed to be received from LIC, but have not been received yet?” If you look at this question from a general point of view, you will not find anything special in this question. But if you pay close attention to this question, you will find that this first question itself has the power to focus the customer’s attention on your survey. Let’s know how

Customer's Response

When you ask the above questions to different customers, their answers may be different and there may be different reasons for each answer. Now if you want to be successful on the basis of survey form, then you have to understand each possible answer of the customer and their reasons, so that you can give accurate response.

My Advice:

If the customer in response to this question during the survey tells you that he does not have any money due with LIC, then you should consider it as a good opportunity. If the customer has not bought a policy, then you can influence him and open up the possibilities of insurance sales in the future and if the customer already has a Life Insurance Policy, then also it can become a possibility for your success.

Our advice here would be that if due to any of the above reasons the customer is telling that he does not have any dues with LIC, you should not look for the reason at present. Rather your response should be such that the customer feels that there is no other institution better than LIC.

If I were in your place and the customer had the above answer, I would have told the customer, "Sir, Life Insurance Corporation of India is such a Life Insurance Company that provides all the facilities to its customer at his home, from buying the policy to the final payment of the policy. You will be surprised to know that while in other institutions, the customer has to go to the institution to open an account, to deposit money in the account or to withdraw money and for other small tasks, there are many such customers of LIC who bought a long term policy from LIC and they also got the final payment of their Life Insurance Policy, but they did not have to go to any office of LIC during the entire policy period."

When you say this to your customers, you try to make them realize how dedicated the corporation is to the customer compared to other financial institutions. Today, when the customer has to visit the bank again and again to open an account, withdraw money and for KYC, then how convenient are the services of LIC.

Second Reaction of the Customer:

When you are going for surveys in your area, it is not necessary that you will always meet a favorable person. If you want to be successful in your life insurance business, you should especially pay more attention to how you will deal with a negative person if you meet him? How will you protect yourself from the influence of a negative person?

So the short answer is that you should listen to negative customer feedback carefully and try to handle the situation by assessing the reasons. Here you also have to accept that it is not possible that negative customer opinions are always wrong. Similarly, it is also not possible that negative customer opinions are always correct.

Now when you ask the above questions to some people, it is possible that some of them will answer that they were supposed to get some money from LIC, but LIC has not paid their money. It is possible that you may have to face the anger of such customers as well.

As a trainer, our advice is that you should not get affected or distracted by any such reaction of the customer. Rather, you should try to handle the situation and impress the customer and for doing this, you will have to know what could be the real reason for the customer's anger.

There can be two reasons for people saying that their money is due to LIC.

First Reason: The customer is just thinking that the Survival Benefit in his policy is going to be paid. Whereas he has bought an endowment type policy.

Second Reason: In reality, the customer's money is due to LIC and there is a solid reason for not getting the payment.

Agent's Immediate Reaction

If I were in your place and a customer told me that LIC owes him some money, I would say, "Sir, believe me! I am surprised. I have contacted many people and asked this question to everyone. But most of the people say that LIC has deposited my money in my bank account or some people say that there is no provision in my policy to make the payment within the policy period."

After this I say, "Sir, if you deem it fit, I would like to check your policy so that I can find out the reasons for which the corporation has not paid you your money?"

Now the customer shows his Policy Bond or receipt of the Policy Premium. So first of all I check the Policy Number and think whether the customer has actually bought a Money Back Policy or not and if the customer says that he has applied for a loan against his policy, then whether there is a loan facility in his policy or not.

If there is no such provision in the customer's policy, then I try to convince the customer by showing the rules section of the customer's Policy Bond that the customer is confused and is unnecessarily blaming the LIC Branch Office.

But if I find the customer’s complaint to be genuine, I note down his policy number and assure him to help him get his money.

Efforts to Improve Customer Relationship:

After getting the Policy Number from any customer, you should note down all the information of that policy in a comprehensive manner. So that you can connect the customer with Premium Due Intimation and other types of Intimation Services.

If you are trying to get the customer his payment, then you must make him realize that you are working for him without any benefit. In which you are suffering a huge financial loss. You should ask the customer to help you in getting a policy for one of his friends.

After this, whenever you meet that customer, try to make him feel that the policy he has bought is less than what he needs. So he should buy the policy according to his needs.

Know in Detail in the Video

To know more about the information given in this article, watch the video given below carefully till the end. If you have any questions in this regard, then write your questions in the comment box of the video.

Conclusion

My dear friend, the Survey Form is not just a piece of paper for you, it is a medium with the help of which you can improve your Life Insurance Business. LIC survey form is the door to Success for LIC Agents. So understand all its questions seriously and try to improve yourself.

Now click on the "Next Page" button given below to understand the next question of LIC survey form and its effects.