Raising a life insurance claim is definitely something that you should be well versed with, particularly when it comes to unforeseen situations. Here are some of the things that you have to be careful about whenever you are raising any life insurance claim.

·        Notify the insurance company in a timely manner about the claim- Post recovering from the initial shock of the demise of the person insured, you should notify the insurance company in a timely manner. Delays will lead to several complications. Several people are often unaware about the insurance policies of the insured person or they do not know how to contact insurers. Delays may also happen on account of various reasons. Delays will lead to more inquiries. As a result, the first thing to remember is that you should raise the claim immediately.

·        Always contact the agent for help in getting your claim- Make sure that you get the death claim form and contact your agent for assistance with regard to obtaining the claim. The agent is the best person to help you get out the claim amount. The insurer’s office should be tapped in case the agent’s details are not available.

·        The nominee and legal heirs- The nominee is the one required to fill up the details and submit the claim discharge application for getting the death benefit. The nominee identification should be prompt. Several nominees are unaware about the policies of their family members. This should be carefully addressed when raising a life insurance claim.

·        Documentation requirements- You should always have all necessary documents in order. This includes the original death certificate, policy document or the last premium receipt and also the age and identity proof of the beneficiary.

·        Bank account details- The nominee’s bank account should be properly setup for receiving the claim. The name and address of the account should be the same as in the insurance policy. This will help in avoiding delays on account of claim corrections or rejections.

These are some of the things that you should keep in mind while raising a life insurance claim. If all these things are followed suitably, there should be no unwarranted delays in getting the claim in a timely manner. In case of an early claim for death within 2-3 years of the policy being issued or if there is any moral hazard, there might be a little more time taken by the insurance company prior to releasing the claim. The insurance company will certainly be aware that the money is needed urgently and will not be delaying the procedure unless there are any issues arising out of non-compliance with basic requirements listed above.