Page 46 - IC24 LEGAL ASPECTS OF LIFE ASSURANCE
P. 46
In insurance policy where rider benefit is obtained a specified
amount is paid by the insurance company on the happening of
a specified event during the tenure of the policy as per rider,
terms and conditions
Where a claim arises by death within two years after the issue
of the policy or from its revival, insurers classify it as an 'early
death claim'.
For death claims the claimant is asked to submit the following
documents: proof of death, proof of age, policy bond, proof of
title etc.
Under Section 108 of the Indian Evidence Act 1872 if a person
has not been heard of for seven years, there is a presumption
of law that he is dead, though it is a presumption which is
rebuttable.
The policy moneys may be payable to either the proposer or his
