LIC Death Claim Application Form Information
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.
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