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A life insurance claim is accepted only for insurance policies that are active and in which all premiums have been paid. Policies that have lapsed due to non-payment of premiums, foreclosed(terminated) or surrendered are not eligible for filing a life insurance claim.

Here are mainly 3 types of life insurance claims:

1. Life insurance (death) claim: If the person insured by the policy (life assured) passes away during the term of the policy, the person mentioned as the nominee in the policy will need to file a life insurance claim to receive sum assured/death benefit.

2. Rider claim: These are additional benefits, added to the original life insurance policy on payment of extra premium. There are different types of riders attached to a life insurance plan,

a. Accidental death rider: This is paid along with the life insurance benefit; in case the person passes away due to an accident

b. Critical illness rider/ Permanent Disability rider: For any of these riders the policy holder can file claim if he/she is diagnosed with any of the conditions listed in the policy document.

3. Maturity claim: Few life insurance policies also have a maturity benefit which is payable at the end of the policy term. This means when the policy tenure ends and the policyholder survives the whole policy tenure a certain amount is paid to the policyholder itself. This is a payment made to policy holder’s bank account if no insurance claim was made on the policy. To receive this benefit, the policy holder needs to pay all premiums regularly and stay invested till the end of the policy term and keep bank account details updated in case of any changes.

Life insurance is an agreement between you and an insurance company where the insurer agrees to provide you with financial protection against life risks. In exchange for this protection, you pay a fee, which is known as a premium.

A Life insurance claim is a formal request made by the beneficiaries of the policy holder to the insurance provider to provide them with the money or benefits promised in the policy after the insured person has passed away.

For exact details on exclusions kindly refer to the policy terms and conditions. Click here to view policy terms and conditions of our current products.

These documents are collected to verify and authenticate the bank account details provided by nominee for receiving the insurance claim. This also ensures that the claim amount is quickly transferred via electronic mode in the nominees bank account.

We send representatives for certain checks and verification if required for processing the claim. Your support in sharing correct details and required documents requested by the Company representative will only speed up the claim process and enable the assessor to decision your claim faster.

Yes, claim amount is payable even in case of death due to accident.

  • If death due to suicide is within one year of policy issuance or within one year of policy re-instatement, then either a percentage of the premium amount or fund value as may be applicable in the policy is paid
  • If death due to suicide is after one year of policy issuance or one year of policy being revived, death benefit as per the policy terms and conditions is payable

As per Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests) Regulations, 2017 , if a claim is not decisioned within the defined regulatory timeframe, upon claim settlement, the Insurance Company is liable to pay penal interest on the claim amount from the time the last required document was received till the date on which the claim was processed. Penal interest will 2% above bank rate at the beginning of the financial year in which claim is being paid.

Insurance proceeds can be repatriated in NRE account in the proportion of the premiums being paid from NRE source.To receive payment in an NRE account, proof of premiums paid from an NRE account (bank statement of policy holder) will have to be submitted by the nominee. In case the same is not available, then insurance proceeds can be credited in an NRO or any other Indian savings bank account.

Death claim is admissible irrespective of the country in which death has happened. Settlement of a claim is based on assessment – as far as all details were correctly disclosed in the application for issuance.

  • If your claim was accepted and you are not satisfied with the claim amount processed or require clarification on the claim amount, you may write to support@ageasfederal.com
  • In case your claim was rejected, and you wish to represent the claim (decision review), you may write to Company’s Grievance Redressal Committee (GRC) on below mentioned address:
    Grievance Redressal Committee – Ageas Federal Life Insurance Co.Ltd.22nd Floor , A Wing Marathon Futurex, N M Joshi Marg, Lower Parel (East), Mumbai-400013 Maharashtra

At Ageas federal Life Insurance, we aim to settle every genuine claim. Every claim denied is examined thoroughly before it is decisioned. A detailed communication mentioning the reason for claim rejection is sent to claimant.

A death claim is rejected in case of 'non-disclosure' or 'misstatement' of material facts discovered at claim stage or any act fitted to deceive or any omission as the law specially declares to be fraudulent.

  • When a fact that affects the policy issuance decision is not disclosed in the proposal, it is termed as, 'non-disclosure'. For example, when an applicant suffering from kidney failure does not inform the insurer about the same in the proposal form, it is termed as non-disclosure
  • Similarly, withholding information or providing incorrect information while answering questions in the insurance proposal form is termed as, 'misstatement'. For example, when an applicant overstates his or her income or discloses incorrect occupation, nationality, hobbies & habits then it is called a misstatement

Based on the documents submitted by you, the claim was reviewed by the claim assessor. Requirement for additional documents have been raised for the claim assessor to evaluate and decide the claim. Submitting these documents will only speed up the claim process.

Once a claim request is submitted with all mandatory documents, it is reviewed by the claim assessor. If the documents submitted are found to be incomplete / missing or not readable, the requirement is considered as pending and a communication is sent to resubmit the documents.

The amount payable upon death of the Life Assured is mentioned in the Policy Certificate subject to the policy being active as on date of death. You may refer to policy terms and conditions for further details.

After receiving the claim request along with mandatory documents, we review the claim and communicate the requirement (if any) or decision the claim within the regulatory timeframe mentioned below

Average time for death claim decisioning – As per Insurance Regulation And Development Authority Of India (IRDAI)
Stages of claimTurn around time
Raising Claim RequirementsWithin 15 days of receipt of claim
Settlement or Rejection or repudiation of claims where field verification is not requiredWithin 15 days from the date of receipt of last necessary document
Settlement / Rejection / Repudiation of claims where field verification is requiredField verification to be completed not later than 30 days from the date of receipt of claim intimation and the claim shall be decided within 15 days thereafter

The following touchpoints are available for any assistance on the claim process:

1. Branch Visit - Ageas Federal Life Insurance.

  • Visit the nearest branch of Ageas Federal Life Insurance and provide details of Life Assured, such as the policy number, name, date & cause of death along with necessary documents.
  • Branch Support Execute (BSE) will provide guidance regarding the claim process and necessary documentation.
  • Post receipt of claim documents, BSE’s will Immediately provide acknowledgment, shall inward the claim documents and forward all the documents to support@ageasfederal.com or E-SCAN on same day for further processing.

2. Branch Visit – Federal Bank.

  • Visit the nearest branch of Federal Bank and provide details of Life Assured, such as the policy number, name, date & cause of death along with necessary documents.
  • Branch Staff will provide guidance regarding the claim process and necessary documentation.
  • Post receipt of claim documents, Branch Staff will Immediately provide acknowledgment, shall inward the claim documents and forward all the documents to support@ageasfederal.com.

3. Email Intimation

  • Send an email to support@ageasfederal.com and provide details of Life Assured, such as the policy number, name, date & cause of death along with necessary documents which will be tagged in C2S2 system and acknowledgement email will be sent.
  • Claims Department will provide guidance to the Claimant regarding the claim process and assist in completion of documentation process.
  • Post receipt of claim documents, Claims Team will Immediately acknowledge the receipt of claim intimation.

4. Phone Call

  • Call Toll-Free No 1800 209 0502 and provide details of Life Assured, such as the policy number, name, date & cause of death.
  • Call Centre team will provide guidance regarding the claim process and required documents.

  • Claim should be submitted by the nominee mentioned in the policy
  • In the event of death of the nominee, legal heir of the nominee can submit a claim by providing of the following documents:
    • Nominee death certificate along with
    • Indemnity bond of Rs 500/- along with
    • Form to be completed and signed by the Surety and
    • Form of Application to Dispense with Legal Evidence of Title from the claimant.