How to settle a claim for a ULIP?

ULIP claim in case of death

If the insured dies during the term of the policy, this claim can be made by the nominee.

Step 1:

Contact the insurance branch office on their toll-free number or website or email or mobile app.

Step 2:

Fill out a Claim Intimation form. The form can be found on the insurance company’s website.

For example: LIC India claim intimation form.

Details of person insured, reason of death, and nominee should be filled.

If the insurance company does not have a Claim Intimation form, a Claim Intimation letter can be written. It should have the following information:

Policy Number

Name of Insured

Date of Admission in Hospital

Cause of Hospitalization

Hospital Address

Name of the Nominee/Claimant (Hyperlink claimant)

Step 3:

Submit the following documents to the insurance company:

Filled Claim Intimation form

Original Policy Document

Copies of Death Certificate

Nominee’s photo identity proof (like Aadhaar card)

Nominee’s address proof

Post Mortem Report in case of accidental death

Certificate and medical records from doctor/ hospital if death due to illness

Critical Illness Claim Form filled by a doctor (if applicable)

Deeds of Assessment

ULIP claim in case of maturity of policy

If all the premiums have been paid on time, and the term of the policy gets over, this claim can be made by the policyholder or the nominee.

Step 1:

Fill the policy discharge form available on the insurance company website.

Fill in all the details like client ID, policy number, policyholder’s name, maturity date, etc

Step 2:

Submit the policy discharge form along with the following documents before the due date:

Original policy document

Bank details

Address proof

ID proof

You can submit all this to the insurance company either by post or at a branch office.

Pro-Tip

The Critical Illness Claim Form of SBI Life Insurance looks like this.

The forms of other insurance policies and companies will be slightly different. Always use the correct form.

Similarly, see how a Claim Discharge Form looks like, here.

To track your progress