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Kotak e-Term Plan is a pure term plan that provides a high level of protection to your loved ones in your absence.
The Kotak Health Shield Plan helps secure your finances in times of sudden medical expenses related to illness such as Cardiac, Liver, Neuro and Cancer (all early and major stages of illness /conditions of Cancer); along with offering protection for Personal Accident - in case of accidental death or disability.
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Understanding the death claim process of a life insurance plan is very important in order to make sure that a claim is not rejected due to an error. When you invest in a life insurance policy, you are investing the money towards the financial security of your loved ones when you are not around. Hence, teaching them how to make a claim to the insurance company is necessary.
Before you can make a death claim in life insurance, you need to understand what life insurance is. The life insurance policy is an agreement between an insurer and the policyholder. The policyholder agrees to periodically pay a certain amount of premium to the insurer. In return, the insurance company pays a sum assured to the nominees of the insured in case of his or her untimely demise during the policy tenure.
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The life insurance claim process has to be initiated immediately after the death of the policyholder.
To make a life insurance claim, the nominees need to inform the insurance company about the death of the policyholder. Different policy providers have their own requirements that have to be met by the nominees. The information can be found on the insurer’s website and in the policy documents. You can also directly reach out to them and let them guide you through the process.
The insurance companies require the nominee to fill in the death claim form, which can be either downloaded from the insurance company’s website or collected from their offices. You need to provide them with the needed information in the form and submit it along with other necessary documents. The information regarding the necessary documents can also be found on the insurer’s website.
While making a life insurance claim, the nominee needs to provide the documents required by the insurer. The documents can vary depending on the insurer, but most of them require the same documents. These can be divided into two categories: mandatory and supporting documents.
A life insurance policy is a shield against any financial hardship the family might face in case of a sudden death of the bread earner of the family. However, buying the policy does not ensure the benefits as the claim can be rejected if it is not made properly. Hence, it is essential to file the claim properly to avail of the benefits of the insurance plan.
Kotak e-Term Plan is a pure term insurance plan that provides a holistic life protection at affordable prices. Find out the eligibility criteria, key ...
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