Copy And Paste In Legal New York Life Documents Newly Widowed Forms For Free

The policy cover ceases as soon as LIC is intimated about the death of the life assured. The most crucial aspect following claim intimation is the final benefit payout (as mentioned above).

On Death during the policy term: Death benefit, defined as sum of Sum Assured on Death and vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable. Where, Sum Assured on Death is defined as higher of 125% of Basic Sum Assured or 10 times of annualised premium.

Death Claims: On receipt of intimation of death of the Life Assured the Branch Office calls for the following requirements: Claim form A ? Claimant's Statement giving details of the deceased and the claimant. Certified extract from Death Register. Documentary proof of age, if age is not admitted.

After we receive all requested information, a claim decision will be available within 10 business days. What happens if the claim is approved? under your policy, we will offer a free, interest-bearing account (NYL GBS Survivor Assurance Account) in the customer's or beneficiary's name.

If the insured passes first, then the beneficiary's heirs or estate will receive the death benefit. If there are no beneficiaries left alive at the insured's death, the death benefit will be added to the insured person's estate.

I the undersigned ________ of Shri/Smt. __________________________________ here by inform you about the death of my_______________. I request you to settle the death claim under his policy no. _________________________________ at the earliest in my favour being the nominee of the above no.