Life Insurance
Life insurance
Life Insurance can be defined as a contract between an insurance policyholder and an insurance company, where the insurer promises to pay a sum of money in exchange for a premium, upon the death of an insured person or after a set period. By paying premiums for a specific term, you are provided with a Life Cover. This Life Cover secures your loved ones’ future by paying a lump sum in case of an unfortunate event. In some policies, you are paid a Maturity Benefit at the end of the policy term.
There are two basic types of Life Insurance plans –
- Pure Protection
- Protection and Savings
Frequenty Asked Questions
Yes, life insurance is a worthy purchase. Anybody with financial dependents will find the benefits of buying life insurance attractive. In case of the demise of the only income earner, a life insurance policy becomes a financial safety net that helps your loved ones pay for expenses such as a loan, childcare, education, health, and many other everyday bills. Life insurance is an affordable way to financially protect the people you love most.
It is a simple process. You can report your claims online, at Insurance company’s branches, central office, via SMS, e-mail or through their call center as per your convenience. Physical documents will be required to be sent to the nearest branch to start the process. The documents needed are:
- Claimant’s statement form –
- For Lender Borrower Group (only for Credit Life policies) – claimant’s statement / claim intimation form –
- For Affinity / Employer-Employee Group – claimant’s statement / claim intimation form –
- Original Policy Document
- Copy of death certificate issued by Local Municipal Authority
- Copy of claimant’s photo identification proof and current address proof
- Cancelled cheque/ Copy of bank passbook
- Copy of medico legal cause of death certificate
- Medical records (admission notes, discharge/ death summary, indoor case papers, test reports, etc.)
- Prior medical records of insured/ Life assured
- Medical attendant’s/ hospital certificate issued by doctor –
- Certificate from employer (for salaried individuals) -In addition, below Documents required for Accidental/ Suicidal Death
- Post Mortem Report and chemical viscera report
- FIR/ Panchnama/ Inquest Report and final investigation report
- Copy of driving license if Life Assured was driving the vehicle at the time of accident (applicable if ‘Accident and Disability Benefit Rider’ is opted)
COMP/DOC/May/2021/265/5899
Next, claims department/team will assess the claim and inform in case any further documents need to be submitted. Once your claim is intimated and the life insurance company receives all the relevant approvals and then settle all the valid claims through cheque or Electronic Clearance System (ECS)
There is no limit on the number of beneficiaries you can add to your policy. However, if the insured has a will and it specifies who the amount of the insurance benefit should go to after he/she passes away, then the benefit will go to the person mentioned in the will irrespective of the mentioned nominee.
We distribute a variety of life insurance policies, such as term life, whole life, endowment plans, ULIPs, and more. Our team can help you understand and select a policy that fits your financial goals and protection needs.
No, there are no additional costs when purchasing your life insurance through us. The premiums remain the same as those offered directly by the insurance companies.
We provide support for initiating claims. Our team will guide you through the claim process, ensuring you have all the necessary documentation and assisting with communication with the insurance company.
Absolutely! Our experienced team at Assured Finmart is here to understand your financial situation and protection needs, helping you compare plans from various life insurance providers to make an informed decision.
Yes, we offer assistance with policy renewals and updates, such as changing nominees or adding riders. We ensure that your life insurance policy remains aligned with your life changes and financial goals.
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+91 8100361567
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support@assuredfinmart.com
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118, Regent Place, Tollygunge, Kolkata, West Bengal 700040