So you have taken a group life insurance policy and you have a claim: here is how to File a Claim under Group Term Life Insurance
In the case of death of an employee, the following requirements are to be fulfilled:
- The claim form of the insurer
- Certificate of insurance
- Original Death Certificate issued by Local Authority OR Attested copy of Death Certificate
- Banker’s Certificate (Only for schemes where there is a cover for loans as well)
- Current Address Proof of the claimant
- Photo ID Proof of the claimant
- Bank Pass Book / Bank Statement / Cancelled Cheque of the claimant
- Submission of documents like the death certificate or the post-mortem report by the beneficiary of the insured.
Once all the assessment is made, a due date is provided for when the claim will be settled. In most cases, the beneficiary of the insured employee can check the status of the claim settlement through a helpline number provided by the insurer. The claim is settled duly through the payment of the amount fixed under the scheme for the respective employee.
This type of insurance is a proven and reliable way to cater for the dependents of an employers’ workforce Group insurance policy benefit is three times an employee’s annual emolument (Basic Salary, Transport and housing allowance)
Insurance is your friend, get in touch with a trusted agent or broker today.