Insurance Claim Procedure and formalities
How file Insurance Claim form Process:As our daily life many advisors say ULIP Plan is better for you, but what is the full for ULIP here we will discuss about ULIP it mean unit-linked insurance plan. ULIP plans are those plans that provide both benefits like death and after maturity period completions. But the condition is all premiums have been paid on time and the policy completes its full tenure, maturity benefits are paid to the policyholder or the nominee. In this plan policyholder receives the value of fund along with bonus or loyalty if applicable on the time of maturity. The value of the fund is the number of units of the policy multiplied by the net asset value of the fund on that day. Before the maturity date, the policyholder gets a letter from the insurance company with the prescribed forms and procedures. The maturity claims can be settled on or before the due date. Here we will discuss about what kind of process and formalities done by Policy Holder on the time of Claiming there Fund of Policy.

How to Submit Discharge form: First of all policyholder has to fill up and sign the policy discharge form, its, available on the company website. Persons should have provide the necessary details, including client ID, policy number, policyholder's name and maturity date.

What kind of Documents needs to submit: Original policy document, along with the KYC and bank details, must be provided along with the discharge form. Kindly keep in mind all claims or maturity payments can be made only through electronic modes of payment, the policyholder must provide bank details on when you are claiming your policy. Once the form is completed and documents are attached, the insured must submit them to the insurance company on before the due date. The documents can be sent by post or submitted at a branch office by personal visit.

What kinds of precautions to be note when you are claiming your policy: The discharge form must be signed by the policyholder and at least one witness sign. In case a thumb impression is provided, than it should be duly attested by authorized person. Also one thing is revenue stamp must be affixed of Rupee One (1Rupee) to the discharged form.