Insurance Claims | Advanced Corporate Accounting - B Com PDF Download

 Page 2


A formal request to an insurance company
asking for a payment based on the terms of
the insurance policy. Insurance claims are
reviewed by the company for their validity and
then paid out to the insured or requesting
party (on behalf of the insured) once
approved.
Page 3


A formal request to an insurance company
asking for a payment based on the terms of
the insurance policy. Insurance claims are
reviewed by the company for their validity and
then paid out to the insured or requesting
party (on behalf of the insured) once
approved.
TYPES OF CLAIMS
I. MATURITY CLAIM.
II. DEATH CLAIM.
Page 4


A formal request to an insurance company
asking for a payment based on the terms of
the insurance policy. Insurance claims are
reviewed by the company for their validity and
then paid out to the insured or requesting
party (on behalf of the insured) once
approved.
TYPES OF CLAIMS
I. MATURITY CLAIM.
II. DEATH CLAIM.
MATURITY CLAIM
• On the date of maturity life insured is required
to send maturity claim / discharge form and
original policy bond well before maturity date
to enable timely settlement.
Page 5


A formal request to an insurance company
asking for a payment based on the terms of
the insurance policy. Insurance claims are
reviewed by the company for their validity and
then paid out to the insured or requesting
party (on behalf of the insured) once
approved.
TYPES OF CLAIMS
I. MATURITY CLAIM.
II. DEATH CLAIM.
MATURITY CLAIM
• On the date of maturity life insured is required
to send maturity claim / discharge form and
original policy bond well before maturity date
to enable timely settlement.
DEATH CLAIM
• In case of death claim or rider claim the following procedure 
should be followed.
• Follow these four simple steps to file a claim:
1) Claim intimation/notification.
2) Documents required for claim processing. 
3) Submission of required documents for claim processing.
4) Settlement of claim .