Licentiate Exam - IC 02 Practice of Life Insurance Exam - Important Points
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Procedure to be followed in case of death claim - (1) Intimation of death (2) Submission of proof of death (3) Submission of age proof (4)Proof of title of the claimant
The insurance company sends the cheque for the amount due to the person entitled to receive it, within 30 days from the date all formalities were completed in case of non early claims
Claims arising within three years of the date of commencement or revival are termed as 'early death claims'. They are also referred t o as 'premature death claims'.
Claims arising after more than three years of the date of risk or revival or reinstatement are non-early claims.
If death was due to accident or unnatural causes, following additional documents would be required Post-mortem report, Police inquest report, Panchanama report, Magistrate's report/Coroner's verdict, Forensic report
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