There are two scenarios in
case of death of policy holder the sum assured can be claimed by
the nominee of the policy.
Process to be followed:
A. Report claim:
Inform the death claim to the
Insurance company where the policy holder bought the policy.
B. Documentation: 1
Fill the claim form. 2
document like death certificate, attach policy bond & nominee
document eg. ID proof, address proof along with documents
mentioned by Insurer. C.
with Insurance Company. D.
settlement details and get the clearance for settlement amount.
Second Scenario would be to claim the maturity amount when the
time of policy get matured at the end of the policy term.
Submit policy documents along with a
revenue stamp and wait for sum assured to be credited. Some
specific requirements from the insurer to be followed as well.