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Life is not simple. You have to fight against odds to reach a particular target. Not an easy journey to reach your goals. I am sure many will agree to this. It is soothing to imagine that nothing will ever happen to you. But what if you had to meet with an accident or something dreadful had to happen that would hamper your continuous flow of income. What would you do? Insurance is the answer to such situations.
To ensure financial shelter for your family members, get yourself insured. If you have already opted for insurance, it is commendable. But have you taught your nominee to make a policy claim should anything happen to you? If you haven't, you need to take an action as early as possible and if you are not aware of it, approach an agent for the same.
A majority of the nominees are unaware of how to claim a policy. To make things simpler, the following needs to be kept in mind by the nominee:
In event of the death of a policyholder, the claimant/ the nominee should immediately convey certain information to the insurance branch office where the policy is serviced. He/she should have the following documents ready:
A statement that the policyholder is dead
The date of death
The cause of death
The place of death
The policy number (s)
The claimant's relationship with the deceased policyholder
As soon as the insuring company receives these details, the concerned branch office sends the necessary claim forms for completion along with specific instructions regarding the procedure that should be followed by the claimant.
If you follow the aforementioned tips, you can avoid unnecessary troubles to a greater extent. Generally, the nominees are the spouse or children. In case no nominee has been mentioned by the insured, the wife and children become the legal heirs and the insurance amount is passed on to them. If the child is a minor, the benefits are passed on to them when he/she turns 18 years of age under the guidance of an appointee by the insured.
It is always recommended to be prepared with the necessary documents. In order to avoid complicated procedure, ask your agent to guide you on this.
Source : insuremagic.com
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