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Question: How do I make a claim of my insurance policy? How long will it take to get the final settlement?

Answer: There are two types of claim. First is when you claim the sum on maturity and the other is when you make the claim is because of death of the insured.

For claiming the sum at the maturity, you need to provide documents such as policy number, and fill up claim form. This is easy and the insurer will pay you either by cheque or directly transfer to your account.

For claiming the sum assured because of death, you have to submit death certificate, post-mortem report (if any), policy number and fill up advance claim form. This is lengthier process than that of claiming at the maturity. The insurer may demand more documents to settle the claim.

Usually it takes anywhere between 1 week and 4 weeks. However, in case of claim because of death, it may take even more time if the company decides to further investigate the matter.

The most important part is to have patience in such cases and comply with all documentation requirements.

There are two types of claim. First is when you claim the sum on maturity and the other is when you make the claim is because of death of the insured.

For claiming the sum at the maturity, you need to provide documents such as policy number, and fill up claim form. This is easy and the insurer will pay you either by cheque or directly transfer to your account.

For claiming the sum assured because of death, you have to submit death certificate, post-mortem report (if any), policy number and fill up advance claim form. This is lengthier process than that of claiming at the maturity. The insurer may demand more documents to settle the claim.

Usually it takes anywhere between 1 week and 4 weeks. However, in case of claim because of death, it may take even more time if the company decides to further investigate the matter.

The most important part is to have patience in such cases and comply with all documentation requirements. Source: CoolInterview.com

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