Life insurance pays out to your beneficiaries in the event of your death. As the purpose of life insurance is to provide financial security to your family or beneficiary, after you die, it only pays out after death.

A beneficiary has to raise a claim

To claim the payout, the beneficiary will have to raise a claim with the insurance company. It is the responsibility of the beneficiary to make a claim, and not the insurance company to know that you have passed away.

Make a Will

It would be best if you make a will, and specify who the insurance payout will go to, to avoid fights in the family later on. It would be advisable to mention the contact details and insurance policy number clearly in the will, to smoothen the process of a claim later on.

Once this is done, the beneficiary can simply approach the insurance company with the claim, and provide a death certificate as proof of death of the insured.

Claim process

It usually takes, 30 to 60 days for a claim to be processed, once the insurance company is satisfied with the circumstances in which the death happened and all the paperwork is in order. There might be some delay in the processing of claims if the death happens by suicide or there is a police investigation into the circumstances of death.

‘Waiting period’

Also, a life insurance policy usually has a ‘waiting period’ that may last for one to two years. This period starts with the purchase of the policy, and should you die in the waiting period, the sum assured will not be paid in full. However, the insurance company could return the total of the premiums paid during this period.



We would recommend you to talk to one of our advisers for life insurance quotes.
Any quote that your adviser provides you with will take into account your circumstances, your medical history, as well as your budget!
Call 011-3733-4610 – Monday to Thursday from 11.00 to 19.00 and on Friday between 11.00 and 16.00
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