1. Immediate Claim Intimation
The nominee or family member should notify the life insurance company or their RakshaPoint specialist as soon as possible. Provide the Policy Number, Date of Death, and Cause of Death.
2. Essential Document Checklist
- Original Policy Document / Bond (or Indemnity Bond if misplaced).
- Death Certificate: Original or attested copy issued by the Municipal Corporation / local registrar.
- Claimant Statement Form: Signed by the designated nominee.
- Nominee KYC: Aadhaar Card, PAN Card, and proof of address.
- Bank Account Proof: Cancelled cheque or passbook copy with nominee's printed name and IFSC code for direct NEFT payout.
- Medical Records: Hospital discharge summary, death summary, and attending doctor certificates in case of illness death.
- Accidental / Unnatural Death: FIR copy, Post-Mortem Report, and Police Inquest Report.
3. Beneficial Nominee Entitlement
Under applicable insurance laws, if the nominee is an immediate family member (spouse, child, or parent), they are recognized as a Beneficial Nominee. This creates a beneficial entitlement to the claim proceeds, ensuring direct financial protection for dependants.
4. Mandatory Claim Settlement Timelines
Under IRDAI Protection of Policyholders' Interests Regulations, the insurer must process and settle the claim within 30 days of receiving all required documents. If an investigation is required (for early claims within 3 years), the investigation must complete within 90 days.