The claim can be filed in a simple and hassle-free process. Mentioned are the steps for claim process:
1. Claim Registration:
The nominee of the insured needs to intimate the claim to the insurance company by filling a claim form completely. Necessary documents needs to be attached along with the claim form. The nominee needs to ensure that the form is filled based on the type of claim and submitted to the IndiaFirst Term Insurance office along with the other documents. You can register the claim online. You can contact 1800-209-8700 or courier the hard copies to the head office or can email on claims.support@indiafirstlife.com.
The insurance company registers the claim and provides an acknowledgement to the claimant with a set of other claims documents for further processing of the term claim.
2. Documents submission:
The nominee can either visit the IndiaFirst Term Insurance head office or any of its branch to register a term insurance claim. The below documents would be required
- Intimation form
- Original Death certificate/attested copy of death certificate
- KYC of the nominee
- Bank details of the nominee along with cancelled cheque
- Copies of identity proof and age proof of the life insured
- FIR copy, post mortem report, panchnama, duly attested by police officials, in case of unnatural death that includes suicide, murder, accidents etc.
- Copies of hospitalization documents including the discharge letter, diagnosis report
- Original Policy bond
3. Claim scrutiny and decision:
The insurance company communicates the claimant the other requirement. A dedicated claims team follows up and help the claimants. This team further understands the genuineness of the claims, scrutinizes the claim and further takes a decision for claim payments.
4. Fund value payment:
After scrutinizing the claim, the fund value of the plan is paid to the nominee of the policy. This process happens only during death claim.
5. Settlement payout:
The insurance company would verify the documents once received. In case of any more documentation, the verification process would be complete after receiving the same. The clauses and riders if any would also be examined. If all the documents are found right as per the requirement, then the funds would be released in the nominee's favor.
The payment is done via NEFT (National Electronic Fund Transfer) to the nominee. The insurance company ensures complete transparency to reduce any possible frauds and financial discrepancy.
The company claims to settle the payment within 15 calendar days, if all the document has been submitted as per the requirement.
