Bajaj Allianz Life Insurance Eases Claim Norm for Quake Victims

Bajaj Allianz Life Insurance today said it has simplified its claim settlement norms for the victims of devastating earthquake in Nepal and northern and eastern parts of India. 

"In the massive earthquake in Nepal, Indian states of Uttar Pradesh, Bihar, West Bengal, Assam, Sikkim, Delhi, NCR, Uttarakhand, Rajasthan and Jharkhand many lost their near and dear ones and some are still missing," a company release said. 
 

Considering the situation, Bajaj Allianz Life Insurance has reduced the documentation for claim applications for the earthquake victims. 
 

While the requirement for documents has been already minimised, procedure for investigation conducted by the insurer may be waived if prima-facie documents establish the life assured's death is due to earthquake, it added. 

 

The company would make the best efforts to settle a majority of the claims coming out of this natural disaster within 72 hours. 

 

Wherever death certificate issued by registrar of births and deaths is not available, the insurer will accept the certified list (Government Gazette copy) having name of life assured issued by either of government hospitals or police or government authorities of Nepal and states of India or armed forces involved in rescue operations. 

 

Other rider benefits (except accidental death benefit) shall be processed on the basis of hospital records of treatment post disaster for accidental disability and other rider benefits. Accidental death benefit shall be considered along with claim for death benefit, the release added. 
 

In case of missing persons, presumption of death shall be on the basis of the list provided, as and when, by the Government of Nepal/Government of India or the respective state governments on missing persons and the requirement of seven years waiting period shall not be insisted upon. 
 

However, when contacted by PTI, Bajaj Allianz Life Insurance senior manager (claims) Nandam Raju said, "We have not received any claims from the quake-affected areas so far. The claim settlement process will begin only once we receive any claims." 

The company has also set up a dedicated team to assist the earthquake affected people in faster claim settlement.