I am 39 years, married and residing in Bengaluru. My husband 42 years passed away last week in a tragic car accident. I know that he had taken a term life insurance plan with a sum assured of INR 50 Lakhs with me as the nominee. I don't want my relatives to come to know of this money. I need this money badly. How can I claim this money from the life insurer?
Your husband is the life assured under the life insurance policy. As he has passed away, you must send the claim intimation to the life insurer as soon as possible[NB1].As you are the nominee, you can send the claim intimation. The claim intimation must contain date, place, and cause of death. See if you can contact the life insurance agent your husband used to deal with. It's his duty to help you with the claim settlement. The insurer will ask you for these documents: 1. Insurer gives you a claim form which you have to fill 2. Certificate of deathDeath Certificate (this is popular usage) 3. Policy document 4. Deed of assignment – put a one-liner stating what is this 5. Legal evidence of title ( This is necessary only if policy has no nominee)[NB2] 6. Form of discharge executed and witnessed 7.Your KYC details and NEFT details for direct credit of the money. After the insurer receives these documents, he will ask for documents like medical attendant's certificate, hospital certificate, employers certificate, police inquest report and post-mortem report. You submit these documents and the insurer looks into your claim, conducts due diligence (checks if this is a valid claim) and then settles it.