Insurance maturity is complete, if you have not received the money then know these rules, otherwise you will incur loss. - Newztezz Online


Thursday, September 14, 2023

Insurance maturity is complete, if you have not received the money then know these rules, otherwise you will incur loss.

After the maturity of the life insurance policy is completed, many people do not know how to take the money from the insurance company. After all, under what process will the insurance amount come to my account? For this, what documents will we have to give to the insurance company?

On completion of maturity of the life insurance policy, you become entitled to that money. You can take money from the insurance company as per the rules of the insurance policy. But for this you will have to submit some important documents to the insurance company. After this the insurance amount will come to your account. However, the method of getting maturity period is quite simple. So let us know what we have to do to claim maturity and which documents will be required.

Sends the form a month in advance: If the maturity of your life insurance policy has been completed and you want to claim to get the insurance amount, then first of all you will have to keep all the records with yourself. Like the maturity date of the policy and the sum assured as well as the guaranteed bonus. However, generally insurance companies send the discharge form to their customers one month before the maturity date. This form contains all the information related to paperwork.

Rules for making a claim on completion of maturity: If the maturity of the insurance policy is completed, then the insurance companies pay the maturity amount only if the insured person survives the policy term. Also, the policy should not be surrendered or canceled till the completion of maturity. Apart from this, the policyholder must have paid all the premiums on time.

When to claim on completion of maturity: The policyholder should send the application along with the necessary documents to the insurance company about a month before the maturity date of the policy, to ensure that the policy amount is paid to you immediately after the maturity date. .

Signatures of witnesses also: If you want, you can also download the policy discharge form from the insurance company's website. Or can also get it from the company office. The special thing is that the form should be signed by the policyholder as well as two witnesses. Apart from this, a revenue stamp will also have to be put on the policy document.

These documents will be required: If you want to withdraw the policy amount after completion of maturity, you will need some documents. Like original policy document, copy of ID proof (PAN card- Aadhar card), copy of address proof, bank mandate form with bank details and also a canceled check will have to be given.

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