Claiming A Term Insurance: Steps To Follow After Policyholder’s Death
Published By: Business DeskLast Updated: August 15, 2023, 07:30 ISTWhile term insurance offers valuable protection, there are key factors that can lead to claim rejection. (Representative image)The Insurance Regulatory and Development Authority of India mandates insurance companies adhere to a 30-day claim settlement timelineAlthough death is certain, it’s a subject individuals frequently fail to adequately prepare for. Even those who purchase term insurance often neglect to inform their beneficiaries about its specifics. Consequently, beneficiaries of term insurance encounter challenges when attempting to submit a claim when necessary. Grasping the claims process holds importance, even if you’re not immediately impacted. We have outlined comprehensive steps to aid nominees in successful...