9 Tips To Ensure A Hassle-Free Claim Settlement


IRDAI records indicate that, on average, a sizeable proportion of life insurance claims are waiting for more than 12 months before ultimate settlement. Even though the average claim settlement ratio over the past three years has been around 90%, the lengthy waiting period for claims remains a source of concern. #


While it is true that health insurance coverage bears the ultimate duty for claim settlement, policyholders can also help to simplify and expedite the process. These easy strategies can help you settle your claim quickly and without the hassle:


  • Avoid Uncertainty

Estimate the premium amount required for a given health insurance plan with the help of a health insurance premium calculator. While filling out your policy form, you should always be truthful, provide correct and comprehensive information, and never omit vital information. *

After filling in every detail:

  • Verify that you have left no possibility for ambiguity or errors.
  • Be forthright about past and current health concerns and lifestyle-related factors such as alcohol consumption, smoking, etc.
  • Ensure you always fill out the policy application form independently; trust your insurance agent. The slightest error or erroneous fact on the application for an insurance policy might generate significant issues during claim settlement.


  • Know Your Policy From A to Z

It is essential to read the life insurance policy document thoroughly. In addition to providing a solid understanding of its characteristics, clauses, inclusions, and exclusions, this will acquaint you with the rules and prerequisites for filing claims. In addition, it is essential to be aware of the beneficiary’s rights and available recourse mechanisms. *


  • Update Regularly

After purchasing a health insurance policy, it is essential to update it regularly to represent the most recent information, such as updated phone numbers, addresses, and names. Ensure that you inform your insurance company of any changes to the beneficiary. Maintain proofs for all the modified/added policy details. It will make it easier for the insurance provider to contact you, ensuring you are not inconvenienced during the claim settlement process. *


  • Comprehend the Claim Settlement Method

You, as the policyholder, and all members of your family must be familiar with the claim settlement procedure, including all documentation, formalities, and criteria. Being prepared in advance facilitates the execution of the process of claim settlement when the time comes. *


  • Educate the Recipient

After you, as the policyholder, have acquired a thorough grasp of the insurance policy and claim settlement process, you must also educate the beneficiary. The beneficiary must comprehend all aspects of the insurance, including the sum, assured, claim procedure, terms, and exclusions.

  • Ensure Prompt Notification

Before submitting a claim, you are needed to notify the insurance company so that they can commence the claim settlement procedure. It would help if you visited the insurance company’s office without an online option to get the newest claim notification form.


  • Keep Documents Handy

Secure and organise your insurance policy and claim documentation. Life insurance companies require policy documentation, proof of age, and a death certificate. Last-minute documentation causes delays, so submit claim materials early. Check that the papers match the life insurance claim type – passing away, maturity, or rider.


  • Act on time

IRDAI has mandated that insurance companies settle claims within 30 days after obtaining the required documentation. All insurance company requirements must be met within six months of receiving written notification. If all goes according to plan, the policyholder gets the claim within 30 days, typically by Electronic Funds Transfer (EFT). * #


  • Establish an e-Insurance Account.

An e-insurance account is advantageous since it reduces paperwork, streamlines policy documents and information, and provides 24/7 access.


Health insurance claim settlement is a vital part of life insurance; use these simple ideas to make the process go smoothly.



* Standard T&C Apply

# Visit the official website of IRDAI for further details.


‘Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.‘

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