{{TAG_OPEN_a_44} Insurance Education: Insurance is a means of transferring risk. Insurance is also a contract for risk transfer. Insurance is a means of transferring an uncertain risk and getting compensation. Insurance is a guarantee of compensation given in case of financial loss. Insurance is an agreement between the insured and the insurer. On the basis of this agreement, the insurance company compensates for the loss. Insurance is a legal method adopted for the future or a type of agreement with the insurance company. For the insurance claim payment process, the insured has to take the following steps.
Life Insurance Claim Payment Process
Under the life insurance scheme, after the end of the insurance period, if the insured is still alive, then the claim should be paid to him and if not alive, then to his heir. If the person is alive, then he can directly go to the insurance company and get his money. But to get a life insurance claim, the person of his choice gets it only after the death of the insured. In case of the death of the insured, the person of his will will be able to get the amount and if the desired person also dies, the following living heir will be able to get the amount.
If the person taking the insurance policy dies before the expiry of the term of any life policy, the person who has chosen the insurance policy will get the amount of the insurance policy. If the person who takes the insurance policy dies in the absence of his will or before the desired person, then the surviving member gets the following related dependents of the insured person and if there are more than one living relative of the same order.
1. Sangol’s spouse
2. Sangol’s son, daughter, daughter-in-law,
3. Sangol’s parents (mother-in-law in case of married woman)
4. Grandchildren and grandchildren of grandparents and grandchildren to take care of themselves
.
5. Estranged spouses,
6. Unmarried daughters, sons, daughters-in-law,
7. Estranged parents,
8. Sangol’s stepmother,
9. Sangol’s stepson,
10. Sangol’s Brother, Sister,
11. In the case of a married woman, the in-laws living separately,
12. Grandson of a separated son, unmarried granddaughter,
13. Stepmother living separately,
14. Estranged stepson, unmarried stepdaughter,
15. In the case of a married woman, Sangol’s brother-in-law, sister-in-law, brother-in-law, sister-in-law,
16. Sangol’s nephew, niece,
17. Sangol’s uncle, aunt, sister-in-law, brother and daughter-in-law,
18. Brothers and sisters living separately,
19. Grandparents, grandchildren, daughters-in-law,
20. Grandparents, grandchildren, daughters-in-law, nephews, nieces, nephews,
21. The person who stays with the insured in the last stage and takes care of him.
If the insured dies, the desired person or heir should inform the insurance company as soon as possible. The information should be given such as the time of death of the person, age, cause of death, etc.
After informing the insurance company, the claim form provided by the insurance company and other documents should be submitted. Documents such as death registration certificate, relationship certificate, insurance account, police report in case of accidental death, etc. should be submitted to the insurance company.
In case the insured has already passed away in the case of the death of the insured person, the first heir as mentioned above should prove the relationship and submit an application for claim to the insurance company.
Presentation: Bijaya Baskota
[‘इन्स्योरेन्स शिक्षा’ कार्यक्रम नेपाली बीमा क्षेत्रको बिकाशको लागि थालीएको एउटा नविनतम प्रयास हो, यदि तपाईहरु संग पनि इन्स्योरेन्स सम्बन्धि कुनै समाचार, लेख/रचना, बिस्लेषणहरु छन् भने हामीलाई सम्पर्क गर्नुहुन अनुरोध गर्दछौ, [email protected]]
