Page 9 - Life Insurance Today April 2018

companies in both life and non-life insurance space to
provide details of unclaimed insurance money on their
respective websites. To save the insurers the trouble of
putting out details of very small claim, the rules allow
companies to publish details if the unclaimed amount is
of Rs 1,000 or more. The IRDAI has mandated the
settlement of dues of policyholders through electronic
mode and display of unclaimed amounts on their websites
with an option for 'Search/ Find' for the convenience of
the policyholders/ nominees/ assignees.

References:
1. http://www.indiaspend.com/special-reports/
insurance-firms-sit-on-rs-6700-crore
The policyholder's name and date of birth are compulsory
fields, whereas PAN and policy number can be optional. 2. ht tp://www .livemin t.com/Mone y/
Although it is important that you raise the maturity or O1ZLFg5sralCwUSKUsf7bO/New-rules-about-
death claim as soon as the policy matures or death occurs. unclaimed-insurance-money
In case of delayed death claims - you may be subjected to 3. https://www.licindia.in/Bottom-Links/Unclaimed-
scrutiny, as the insurer may get into seeking more than Policy-Dues
usual information on the nature of death and the delays. 4. https://economictimes.indiatimes.com/wealth/
To make a claim, you will need to visit the office that issued personal-finance-news/insurance-companies
the policy and submit the policy bond and bank account 5. http://www.dnaindia.com/business/report-unclaimed-
details to them. You may also need to supplement any insurance-pot-grows
other details about you being the nominee or anything
6. http://www.financialexpress.com/money/how-to-
else that the insurer may seek when making the claim.
track-unclaimed-life-insurance-money-
The IRDAI has issued clear guidelines to all insurance 7. Newspapers & Journals.

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My message to the kids and our fans is hockey's a great game. There's a lot of hockey being played at all levels. Get involved, do it. We
will be back and we will be back better than ever and hopefully as soon as possible. Don't give up on the game. It's too good.

Life Insurance Today April 2018 9