Claims 

Questions:  

1. What is a suicide clause?  
2. What is an incontestability clause?  
3. How can my beneficiaries make a claim upon my death?  
4. How can I claim the maturity benefits (if any) of my policy?  

 

1. What is a suicide clause?  

A suicide clause is a condition incorporated in the policy to prevent claims from suicides, whether sane or insane, within a fixed period of time from the policy's issue date. In cases like this, the insurer will refund the premiums paid.

 

The fixed period, as mentioned above, ranges from one to two years, depending on the insurer and the type of product purchased. The purpose of this clause is to discourage people with suicidal intentions from buying a policy with the intention of benefiting their families after their planned death.
   

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2. What is an incontestability clause?  
 
The incontestability clause prevents the insurer from calling into question a policy, after the expiry of two years from the date on which it was effected, on the basis that there was a misrepresentation in the proposal form or medical report or any document which led to the issue of the policy.

 

Please note that the insurer can void the policy even after expiry of the contestable period if fraudulent misrepresentation on a material fact by the policyowner can be proved.
 

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3. How can my beneficiaries make a claim upon my death? 
 
Your beneficiaries can make a claim by furnishing three pieces of evidence:

• Proof of death 
  Depending on the cause and circumstances of death, different documents will be required. However, the Certificate of Death is always required. This will show the name, sex, occupation, age, time of death, place of death, residence, place of birth, names of parents, marital status, cause of death, duration of last illness, time and place of burial and death certification officer of the insured.
• Proof of age 
  The usual documents required are birth certificate, identity card, baptism certificate, statutory declaration or school certificate, citizenship certificate, and passport. 
• Proof of title and ownership at death 
  The policy contract with your beneficiaries' names stated in the beneficiary's details section will be needed. If no one was named as a beneficiary, there will be different means by which the claimants (presumably your relatives) can obtain the proceeds of the policy.  

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4. How can I claim the maturity benefits (if any) of my policy?
 
You can claim the maturity benefits of your policy by fulfilling the following requirements:

• You must produce the policy. 
• You will need to complete an identity form which shows your date of birth and your signature. These will assist the claims processor in determining whether you are the rightful beneficiary of these maturity benefits.
• If you are not the life insured of the policy (but are the policyowner), then you will need a statement from the insured stating that he/she is still alive for policies or riders that pay only if the insured is still alive.

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