Insurance Claims: What Your Nominee Needs To Do To File One

Losing a loved one is never easy, and the last thing you want to deal with during such a difficult time is the stress of filing an insurance claim. Unfortunately, this is a reality that many people have to face, and without proper guidance, it can be a daunting task.

True Story: One such person was the wife of a policyholder who recently passed away due to Covid-19 at the age of 32. The policyholder had informed his wife that he had purchased some insurance policies from Max Life, but she was unable to locate the policies after his death. Despite this, with just her husband’s mobile number, she was able to get in touch with the founder of Simple Path, Donald Gonsalves, who helped her throughout the process of settling the death claim of her husband.

Here are some steps that were taken to ensure that the claim was successfully processed:

1. Get in touch with the insurance company: The first step is to contact the insurance company and inform them of the policyholder’s death. In this case, Donald Gonsalves took care of this step on behalf of the nominee.
2. Provide necessary documents: The insurance company will require certain documents to verify the claim, such as the death certificate, policy documents, and the nominee’s identity proof. The nominee visited the office once to provide the necessary documents, and Donald took care of all the other formalities himself.
3. Follow-up: Since there were a lot of claims due to Covid-19, all insurance companies, including Max Life, were busy verifying the claims. Donald continuously followed up with Max Life to ensure that the claim was being processed and to provide any additional information that was required.
4. Claim settlement: After the claim is verified and all the necessary formalities are completed, the insurance company will settle the claim. In this case, the death claim of the policyholder, amounting to 2.25 crores, was successfully settled by Max Life.

Once all the documents were submitted, because the documents were not available, there were a lot of follow-ups involved to get the claim settled. Since there were many claims due to the pandemic, all insurance companies, including Max Life, were busy verifying and settling claims. But with our constant follow-up, we were able to get the claim settled within a month of submitting the documents.

The nominee was relieved and grateful that we were able to help her through this difficult time. She was not familiar with the process of filing an insurance claim and had no idea how to locate the policies her husband had bought. But with our guidance and support, she was able to get the financial assistance she needed to take care of her family.

It is important to remember that while the process of filing an insurance claim may seem overwhelming, there are professionals like Donald Gonsalves and insurance companies like Max Life that are there to help. It is important to keep your policy documents in a safe place and inform your nominee of their location. By doing so, you can ensure that your loved ones are taken care of in case of an unforeseen event.

In conclusion, it’s important to inform your family members about the insurance policies you have purchased and where the documents are kept. It’s also important to nominate a trusted person who can handle the claim process if something unfortunate were to happen. And if you or your nominee face any difficulties in the claim process, don’t hesitate to seek help from a professional financial planner like Simple Path. We’re always here to help you navigate the complicated world of insurance and financial planning.

At Simple Path, we believe in simplifying financial planning and making it accessible to everyone. If you need assistance with filing an insurance claim or have any other financial queries, feel free to reach out to us. We are always here to help.