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Navigating the Life Insurance Claim Process: Guiding Your Clients

Updated: Feb 22

Table of Content:

  • Introduction

  • Life Insurance Claim Process Work

  • Key Considerations Before Filing a Claim

  • Filing different types of life insurance claims

  • Submission of Necessary Documents

  • Documents Required for Claim Processing

  • Conclusion

Life Insurance Claim Process


Life insurance plays a crucial role in providing financial stability for individuals and their families. As an independent Mutual Fund Distributor (MFD), it is essential to guide your clients not only in selecting the right life insurance policy but also in understanding the process for filing a life insurance claim. This article will shed light on the steps involved in filing a life insurance claim and the necessary documentation for a seamless settlement.

Life Insurance Claim Process Work

Key Considerations Before Filing a Claim

Before initiating a life insurance claim, it is imperative for the nominee to review and verify several factors:

  • Policy Status: Confirm the current status of the life insurance policy.

  • Policy Inclusions and Exclusions: Understand the coverage details and any exclusions mentioned in the policy.

  • Nominee Details: Ensure that the nominee's information is accurate and up to date.

  • Policy Document: Thoroughly read and understand the terms and conditions mentioned in the policy document.

Now, let's delve into the step-by-step process of filing different types of life insurance claims.

Filing Different Types of Life Insurance Claims

1. Maturity Claims:

Maturity claims involve receiving the assured sum at the completion of the policy term.

Policyholders receive a predetermined amount, including bonuses or incentives, at the maturity date.

To claim maturity benefits, the policyholder must fill out the provided bank discharge form and submit it with the required documentation.

2. Death Claims:

Death claims are submitted by the designated beneficiary in the event of the policyholder's demise.

The process includes notifying the insurance company, submitting necessary documents, and undergoing a claim settlement process.

The claimant must acquire the claim intimation form from the nearest branch or official website and submit it with essential details.

3. Rider Claims:

Additional benefits, or riders, can be added to a life insurance policy for extra coverage.

Various riders, such as Accidental Rider or Critical Illness Rider, may have different claim procedures.

Typically, the process involves submitting a completed claim form, necessary documents, and a copy of the policy document.

Submission of Necessary Documents

Essential documents for a death claim include the certificate of death, certificate of birth, original policy document, and additional documents requested by the insurance provider.

Proper documentation is crucial for a smooth claim settlement process.

Settling Claims:

Upon receiving all necessary documents, the insurance company is required to process the claim within 30 days.

Further investigation, if needed, must be completed within six months of receiving a written claim notification.

Documents Required for Claim Processing

  1. Duly signed claim form.

  2. Original policy document.

  3. FIR if required.

  4. Post-mortem reports if needed.

  5. Official Panchnama record.

  6. Hospital discharge summary.

  7. KYC documents of the beneficiary.

  8. Photocopy of a canceled cheque and bank statement.

  9. Death certificate issued by the appropriate authority.


Life insurance claims can face rejections due to delays or incomplete documentation. To ensure a seamless settlement, clients should understand the claims process and submit all necessary documents promptly. As an MFD, you play a crucial role in guiding your clients through this process, reinforcing their financial security.

Additionally, to further enhance your business and expand your client base, consider registering with AssetPlus. AssetPlus offers valuable tools and resources that empower Mutual Fund Distributors to streamline their operations, manage client portfolios efficiently, and stay updated on industry insights. By joining AssetPlus, you not only gain access to advanced tools but also have the opportunity to participate in learning programs that can enhance your expertise in areas like life insurance, ensuring you provide comprehensive financial guidance to your clients. Elevate your practice with AssetPlus and unlock new avenues for business growth and knowledge enrichment.

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