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How to Claim Term Insurance After Death?

Learn how to claim term insurance after the death of the policyholder with this comprehensive guide.

How to Claim Term Insurance After Death

Home / Life Insurance / Term Insurance / How to Claim Term Insurance After Death of the Policyholder

Term Insurance is a type of life insurance plan that offers a death benefit to the policyholder’s beneficiaries in case the policyholder passes away during the policy duration. For this coverage, the policyholder has to make a payment of a fixed amount known as the premium amount on a timely basis. In case of a policyholder's demise, the family members will have to raise a claim to avail the sum assured. This article will tell you all about how to claim Term Insurance (TI).

Stepwise process explaining how to claim Term Insurance after policyholder’s death
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Here’s a list of steps that are needed to be followed by the beneficiary to claim the death benefits after the death of the policyholder. Note that this is an overview, exact steps and the process will depend upon the insurer. 

Step 1: Notifying the insurer 

Step 2: Fill out and submit the death claim form

Step 3: Submit all the relevant documents

Step 4: Evaluation of the claim by the insurance company

Step 5: Settlement of the death Claim

What happens if the policyholder survives the term?
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If the policyholder outlives the term, no payouts will be made (unless there’s a Return of Premium add-on as a part of the coverage) and the policyholder will have to renounce the coverage.

What are the types of deaths covered by Term Insurance plans?
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Not all kinds of death are allowed to be claimed under the Term Insurance plan. Here’s a generic list of deaths which will and which will not be covered in Term Insurance plans, exact list will depend upon the exact policy’s terms and conditions. 

Deaths covered under Term Insurance plans

Deaths not covered under Term Insurance plans

What are the documents required to file a claim after a policyholder's death?
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These are the set of documents that are to be submitted by the beneficiaries in order to claim for the benefits of the Term insurance, disregarding the type of death met.

Not just these, there might be additional documents required as per the cause of death.

Case 1: If the policyholder had died due to medical illness

Case 2: If the policyholder had died due to accident or unnatural death (murder, etc.)

What are the reasons for the insurance claims to get rejected?
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Here are the common reasons for insurance claims to get rejected. 

Frequently Asked Questions
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Here’s a list of FAQs associated with how to claim Term Insurance after a policyholder's death.


Are there tax benefits for the premium amount paid by the policyholder for a Term Insurance Plan?

Yes, the policyholder can avail tax exemption up to one and a half lakh rupees as per applicable terms and conditions. 

Can I get money back if I survive the term in Term Insurance plan?

If you have opted for a Return Of premium rider, then you will be qualified to get back the premiums paid.

Will I be able to take a loan on the Term Insurance Plan I opted for?

No, since such plans do not offer a cash value component at the time of maturity.

Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on industry experience and several secondary sources on the internet, and is subject to changes.