Most Asked

a. Policy status should be inforce, Policy Discontinuance or Cover continuance and maturity amount will be paid on the survival of the insured person as on the date of maturity
b. If the policy is assigned then request for maturity should be received from policyholder with the consent of the Assignee (incase of Bank/ FI),
c. If it is a MWP policy then the request should be from Trustee.
d. In case of HUF policy the request should be from Karta.
e. In case death of Proposer, Life Assured needs to apply for change in proposer along with below mentioned documents.

  1. Request letter – for change in ownership
  2. Original Policy Document
  3. Death Certificate – of earlier proposer
  4. KYC documents of Life Assured.

Other Questions

a. Partial withdrawal request can be accepted for policies with a status of Inforce, Policy
Discontinuance or Cover Continuance.
b. In case the policy has been assigned, the request should be received from the Assignee
with the consent of the policyholder.
c. For MWPA & HUF policies, the request should be received from the Trustee & Karta
respectively.
d. For Unit linked policies, the date and time stamp is mandatory on the request form. This
is required for NAV allocation.

  • If the request is received before 3.00 p.m. i.e. pre-cut off, then the same working day NAV will be allocated to the customer.
  • If the request is received after 3.00 p.m. i.e. post cut-off, then the next working day NAV will be allocated to the customer.

e. Request will be rejected if the Life Assured is a Minor

Maturity is amount guaranteed to be paid out to the policyholder as on the maturity date provided the life insured survives as on the maturity date as per the terms and conditions of the policy contract.

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