Claim Settlement Form

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Comparepolicy.com will assist you in knowing the right claim process step by step for various plans like Term Insurance, Health Insurance, Car Insurance, etc. However, the claims team of the respective insurance company is responsible for settling the claim and disbursing the claim proceeds. But we truly value you as our customer and will hand hold you in filling a claim with your Insurance Company by providing the step by step procedures for the same.

For Life or Health Insurance Plans, it’s prudent to narrate your appointed nominee/family members about the claims process and the documents required during the course of claim filing to avoid any hassles at that traumatic time for your family.

For any more assistance, feel free to mail our insurance experts at claims@comparepolicy.com

Just select the particular type of Insurance Product to know the detailed Claims Process for your convenience.Also, you may download the claim form and get the claims related contact details of your Insurance Company from our website.

Please note: The requirements, documentation and timelines may vary from insurer to insurer.

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Death Claim

Claimants’s are advised to follow the step wise claims process in the event of a death of the insured.

Claim Intimation Step 1

The claimant needs to intimate the insurance company by going to the nearest branch, calling the customer helpline number, contacting your insurance advisor about the death of the insured at the earliest by providing the listed details:

• The name of the life insured • Policy number • Date of death • Cause of death • Place of death • Details of the claimant such as Name, Relationship

The insurance company usually registers a Death Claim on the date of receipt of intimation in writing.

Submission of Supporting Documents Step 2

Post intimating the insurance company about the insured’s death, here is the list of documents required to be submitted. The requirement of documents may vary from insurer to insurer.

• Duly completed and signed Claim Form by the claimant. • Original Policy Document/Pack. • Nominee ID proof for the purpose of finding the relationship with Life Insured. • Address Proof and Contact number of the Nominee/Claimant/Beneficiary. • Death certificate issued by local authority/Hospital. • Medical Records (admission papers, discharge summary, test reports etc.). • Last Medical Attendance Report ( LMA). • Post Mortem Report (in case applicable). • First Information Report/ Panchnama Report (in case applicable). • Bank Account details.

Claim Assessment Step 3

After submission of all the required documents, the insurance company will then evaluate your claim on the basis of the details and information provide by the claimant. The insurer may approach you for further clarification regarding the claims settlement. The documents submitted will be scrutinized and assessed by the claims team of the insurer to assess the admissibility of the claim. The claim may be accepted or Rejected on valid grounds.

Claim Decision Step 4

Post assessing of the claim documents, the insurance company decides on the claim acceptance or rejection basis the merit of the case as per the terms of the policy.

Claim Payment Step 5

On the admissibility of a claim, the insurance company will release the due claim payment in the name of the nominee/nominees.

Please note: The requirements, documentation and timelines may vary from insurer to insurer.

Critical Illness Claim

The process of getting the critical illness rider claim involves the following steps:

Claim Intimation Step 1

The Critical Illness Claim should be reported to the insurance company in the due time frame of discharge (it may vary from insurer to insurer). It’s prudent to inform your insurer within the stipulated time frame.Kindly be informed that the delay in intimation of claim may lead to rejection of the claim as well.

Submission of Supporting Documents Step 2

The insured is required to submit the following documents to the insurance company in the event of a Critical Illness Claim . Documents in addition to those mentioned below may be asked for depends on the nature of claim lodged. It is advisable to retain a copy of the documents for your records.

• Claim form duly signed by you, along with the attending physician statement. • Original discharge summary/day care summary mentioning the diagnosis, date and time of admission and discharge, past medical and surgical history with duration. • A medical certificate confirming the diagnosis of critical illness from a doctor, not less qualified than MD/MS e.g. CAG report in case of Coronary artery disease/ Bypass Surgery or biopsy report in cancer cases. • Medical certificate which states the details of the treatment and fitness. • Investigation reports/ other related documents reflecting the critical illness diagnosis. • All supporting reports to prove the diagnosis. • First consultation paper.

Claim Assessment Step 3

Upon submission of all the required documents, the insurance company will then assess the Critical Illness Claim on the basis of the documents submitted and the information provided by the insured. The Insurance company will scrutinize the documents thoroughly regarding its completeness and authenticity to assess the admissibility of the Critical Illness Claim .

Claim Decision Step 4

Post assessing of the claim related documents, the insurance company decides on the claim acceptance or rejection basis the merit of the case as per the terms and conditions of the policy.

Claim Payment Step 5

On the admissibility of a claim, the insurance company will release the due Critical Illness Claim amount to the insured as per the policy conditions.

Please note: The requirements,documentation and timelines may vary from insurer to insurer.

Cashless Claim

Here is the claims procedure when you want to avail the cashless facility.

Emergency hospitalization Scenario 1

For emergency hospitalization, you can follow this claim procedure to avail cashless hospitalization.

Step 1. Get the admission into a network hospital. Step 2. Ask one of the members of your family to get the pre-authorization form from hospital. Fill the form properly and get it signed by the attending doctor. Step 3. The hospital may fax/e-mail the pre-authorization form to the insurance company/TPA along with the necessary medical details as asked by the insurer. Step 4. Insured verify and sign all the bills.

The original discharge summary and other investigation reports will be kept by the hospital.You can get a photocopy of all medical bills and reports for your records.

Planned Hospitalization Scenario 2

For Planned hospitalization, you can follow this claim procedure to avail cashless hospitalization.

Step 1. To avail the benefits of ‘cashless facility’ in a planned hospitalization, you need to co-ordinate with your doctor and send all the relevant details regarding the planned hospitalization to the insurance company/TPA. It is essential to send all these details two days or as specified in the contract prior to your hospitalization. Step 2. At the time of admission, you need to present the authorization letter and a photo ID card to the hospital. Step 3. Hospital Fax/Email the pre-authorization form to the insurer/TPA with the required medical details. Step 4. Insured verifies and sign the bills.

The original discharge summary and investigation reports are kept by the hospital.You may retain a photocopy of all the medical bills for your records.

Reimbursement Claim

When approaching to a non-network hospital, you have the option to avail reimbursement post discharge. Here is the procedure for claiming the reimbursement.

Emergency hospitalization Scenario 1

For Emergency hospitalization, you can follow the below mentioned claim procedure to get the reimbursement of all your medical expenses incurred.

Step 1. In case of any medical emergency, get the admission into a non-network hospital. Step 2. Intimate the claim to the insurer/TPA as soon as possible about such hospitalization. Step 3. Pay the hospital bills in full. Collect all the original bills, investigation reports, and documents at the time of discharge. Step 4. Lodge a claim for reimbursement. Fill in the claim form and provide the required documents * as asked by the insurer.

Planned Hospitalization Scenario 2

For Planned hospitalization, you can follow this claim procedure to avail cashless hospitalization.

Step 1. Intimate your insurer/TPA for your planned hospitalization. Step 2. Get admitted into the hospital. Step 3. At the time discharge, pay all the hospital bills in full. Get all the original bills, reports, and other medical documents at discharge from the hospital. Step 4. Lodge your reimbursement claim with insurer/TPA for paying towards the medical costs incurred.

*Documents Required to claim the Reimbursement:

Here is the list of documents that may be required by the insurer for reimbursement. This list may differ from insurer to insurer.

• Duly filled claim form • Original hospital bills. • Original discharge summary • Original Investigation reports and its receipts. • Follow-up advice for treatment after discharge. • For non-network hospital, mention the hospital and doctor’s registration number, if required.

Accident Claims

Following is the process for the car insurance accident claim.

Important Initial Steps Step 1

Few important steps which need to be followed in case of a car accident. It is prudent to note down the following information as first important steps post accident:

• Vehicle number involved in an Accident, if any. • Note down the witnesses names & contact number, if any. • Not leave your car unattended.

Such information is needed during filing an FIR.

Claim Intimation Step 2

You can register and intimate the accident claim by calling the customer representative of the insurance company or their concerned toll free number. You may also file an FIR at the nearest police station in case of property damage, bodily injury, and major damages.

Send Your Car for Repair Step 3

In the event of an accident, you may seek information from the customer care team of your insurer to guide you to the nearest network garage or request for services like towing or ambulance (if required). You may take your car to the nearest garage for repairs.

Inspection by the Surveyor Step 4

The surveyor will be appointed who will inspect your car damage in the garage and give an approval post assessment.

Submission of Documents Step 5

When it comes to settling claims, your insurance company asks for the documents to ascertain the admissibility for the claims. Here is the list of documents that your insurer may ask you to produce in the originals. You are required to submit the documents to the dealer and get them verified with the originals.

• Proof of insurance – Policy copy. • Duly filled claim form. • Copy of Motor Driving License of the person driving the car at the time of the accident. • FIR/ Police Panchnama • Estimate for repairs from the garage from where the car is to be repaired. • Original repair invoice and payment receipt. • Copy of Registration Book, Tax Receipt. • Claims Discharge Voucher signed across a Revenue Stamp.

Claim Settlement Step 6

After getting the repairs done at a network garage, the insurance company will pay for the same directly to the garage. You only need to pay the excess or other charges that are not covered under the policy. If you get the repairs done at a garage of your choice other than a network garage, you may reimburse the claims.

Theft Claims

Following is the process for the car insurance, Theft Claim.

File an FIR Step 1

The policyholder must lodge the First Information Report (FIR) with the police immediately.

Claim Intimation Step 2

The insured should intimate the insurance company about the theft of the car and submit the duly filled claim form, giving information like the policy number, vehicle details, as well as the date, time and description of the incident.

Submission of Documents Step 3

In the event of theft, you are required to submit the following documents:

• Original policy document. • FIR copy (original) of the theft report. • Registration book (original) and tax payment receipt. • Previous insurance details, if any. • Letter of subrogation. • Acknowledged copy of letter intimating RTO regarding the theft. • The sets of keys/ Warranty Card/ Service Booklet. • Claim Discharge Voucher signed across a Revenue Stamp.

After the police submits its final 'non traceable report' (If your vehicle is not found within 90 days) and the claim is approved, the insured must transfer the RC of the stolen vehicle in favour of the insurance company, hand over all sets of keys and give a letter of subrogation to the insurance company.

Claim Payment Step 4

The insured is required to submit the original repair invoice and payment receipt to the insurance company. The amount approved as per the surveyor's report will be reimbursed within the stipulated time.

Third Party Claims

Following is the process for the car insurance, Third Party Claim.

File an FIR Step 1

The policyholder must lodge the First Information Report (FIR) with the police immediately. In a third party claim, where your vehicle is involved, it is imperative to certify that the accident is reported immediately to the police.

Claim Intimation Step 2

The insured should intimate the insurance company about the about the third party claim and submit the duly filled claim form, giving information like the policy number, vehicle details, as well as the date, time and description of the incident. If you are a victim, that is, if somebody else’s vehicle was involved, you must obtain the insurance details of that vehicle and make an intimation to the insurer of that vehicle.

Submit the Documents Step 3

Submit the following documents to the insurer to file a claim

• Claim form signed by the insured. • Driving license copy. • Policy copy. • Police FIR copy. • RC copy of the car.

The claim is assessed on the basis of documents provided.

Death Claim

Claimant is advised to follow the step wise claims process in the event of a death of the insured.

Claim Intimation Step 1

• Name of the policy holder • Policy number • Date and Place of death • Reason of death • Details of claimant such as ID proof, address proof, name and relationship with the policyholder.

Submission of Supporting Documents Step 2

Post intimating the insurance company about the insured’s death, here is the list of documents required to be submitted. The requirement of documents may vary from insurer to insurer.

When it comes to documents’ submission, there are two Scenarios.

PARENT is the insured and the nominee is the Child Scenario-1

CHILD is the insured and the Parent is the Policyholder/Nominee Scenario-2

Apart from the documents mentioned in Scenario-1, the claimant also needs to provide below mentioned additional documents.

• Identity Proof of the child. • Proof of Date of Birth of the child.

Claim Assessment Step 3

Claim Decision Step 4

Post assessing of the claim documents, the insurance company decides on the claim acceptance or rejection basis the merit of the case as per the terms of the policy.

Claim Payment Step 5

After assessing the admissibility of the claim, the insurer will release the Death Claim amount as per the terms of the policy wordings in the name of the nominee/nominee’s. The insurance company may pay via cheque/DD or bank transfer.

Please note: The requirements, documentation and timelines may vary from insurer to insurer.

Maturity Claim

You may claim for your policy proceeds of the Child Plan at its maturity, when the policy term is finished and the policy is in force.

You need to follow the simple steps:

• Submit the duly filled and signed Maturity Claim/discharge form and the original Policy Bond to the nearest branch of your insurer. • n submission of the documents and verification of the same, the insurer will release the maturity proceeds. Most companies offer/issue post dated cheques and/ or make payment through ECS credit on the maturity date.

Death Claim

Claimants’s are advised to follow the step wise claims process in the event of a death of the insured.

Claim Intimation Step 1

• Name of the policy holder • Policy number • Date of death • Reason of death • Details of claimant such as ID proof, address proof, name and relationship with the policyholder.

Submission of Supporting Documents Step 2

Post intimating the insurance company about the insured’s death, here is the list of documents required to be submitted. The requirement of documents may vary from insurer to insurer.

Claim Assessment Step 3

Claim Decision Step 4

Post assessing of the claim documents, the insurance company decides on the claim acceptance or rejection basis the merit of the case as per the terms of the policy.

Claim Payment Step 5

Please note: The requirements, documentation and timelines may vary from insurer to insurer.

Maturity Claim

You may claim for your policy proceeds of the investment plan at its maturity, when the policy term is finished and the policy is in force.

You need to follow the simple steps:

• Submit the duly filled and signed Maturity Claim/discharge form and the original Policy Bond to the nearest branch of your insurer. • On submission of the documents and verification of the same, the insurer will release the maturity proceeds. Most companies offer/issue post dated cheques and/ or make payment through ECS credit on the maturity date.

Death Claim

Claimants’s are advised to follow the step wise claims process in the event of a death of the insured.

Claim Intimation Step 1

• Name of the policy holder • Policy number • Date and Place of death • Reason of death • Details of claimant such as ID proof, address proof, name and relationship with the policyholder. • Details of the claimant such as Name, Relationship

Submission of Supporting Documents Step 2

Post intimating the insurance company about the insured’s death, here is the list of documents required to be submitted. The requirement of documents may vary from insurer to insurer.

Claim Assessment Step 3

Claim Decision Step 4

Post assessing of the claim documents, the insurance company decides on the claim acceptance or rejection basis the merit of the case as per the terms of the policy.

Claim Payment Step 5

Please note: The requirements, documentation and timelines may vary from insurer to insurer.

Maturity Claim

With a Pension plan, you can easily achieve the financial stability even after your retirement. At, Compare Policy, we assist you with the step by step Maturity Claims process which will help the you to file a claim easily with your Insurance Company.

Claim Intimation Step 1

When the pension plan holder survives through the policy term, he/she is liable to receive the accumulated corpus and enjoy the retirement period. You may contact the nearest branch of your insurer and submit a copy of the policy with your own ID and address proof.

Claim Assessment Step 2

After submitting all the required documents, your insurer will assess your claim depending on the information provided at the inception of the pension plan and the documents submitted. The insurer will ascertain the admissibility of the claim.

Claim Payment Step 3

In the pension plan, usually 1/3rd part of the total accumulated corpus can be withdrawn or commuted and the remaining 2/3rd is contributed towards the pension that you will receive on a monthly basis. The payment is released depends as per the terms mentioned in the pension plan.

Please note: The requirements, documentation and timelines may vary from insurer to insurer.