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Life Insurance

1. What is life insurance?
Life Insurance is an agreement that guarantees payment of a stated amount of monetary benefits at the end of a specified term or on the death of the life insured.

2. Why do I need life insurance?
Life Insurance provides for financial security in the event of death or on the inability to earn due to physical disabilities. Besides providing for financial security in the case of one's untimely death, it can be used to accumulate a kitty for your old age, systematically build assets, for funding your child's education.


1. What is nomination? And who is a nominee?
Nomination is a right conferred on the life insurance policyholder to appoint a person or persons to receive the policy monies in the event of the policy becoming a claim by death. Any policyholder, who is more than 18 yrs of age and is the life insured under a policy, can make a nomination. A nominee is the person designated by the policyholder to receive the proceeds of an insurance policy, upon the death of the insured.

2. Can I change my nomination?
Yes. You can change your nomination at any time till the maturity date. All you need to do is to inform the insurer about the change through the specified form.
3. What details am I to provide about the nominee/s?
The following details are necessary when filling in the proposal form: full name of the nominee, address, age, and the relationship between you and the nominee.
4. What is the difference between nomination and assignment?
While nomination is an authorisation to receive the policy monies in the event of death of the life assured, it does not give the nominee an absolute right over the money received to the exclusion of other legal heirs. Further, the nomination can be revoked or cancelled at any time during the lifetime of the policyholder at his will and pleasure or by a subsequent assignment.
On the other hand, assignment of an insurance policy is a transfer or assignment of all rights and liabilities of the insurance policy in favour of the assignee.

1. How do I make a Maturity Claim?

You must send us the:
  • Completed Claim form
  • Policy of life assurance
  • Proof of age, if not submitted earlier
  • Copy of passport or identification document
2. How do I make a Death Claim?
You must send us the following:
  • Notification of the death of the Insured.
  • Claimant’s statement and Physician’s statement.
  • Detailed medical report related to this claim.
  • Copy of the passport or ID Card of the deceased and copies of passports or ID Cards of the beneficiaries.
  • Certified copy of Death Policy.
  • The Original Guardianship / Tutorship Policy issued by court and specifying the powers given to the guardian or tutor whenever there are minors among the beneficiaries.
  • The Original Succession Policy. This is required in cases where the names of the beneficiaries are not specified or when beneficiaries are mentioned as “legal heirs”.
  • Original Life Insurance Policy Document.
  • Copy of the Police Report (if death was a result of accident or murder)
  • The Post Mortem / Autopsy or Coroner’s Report (if applicable)
  • The exact addresses and telephone numbers of all beneficiaries.
  • Newspaper clipping (if applicable).
  • Claim Discharge Form, duly completed and signed by the claimant
  • Other information if required, the Company may contact the beneficiaries and request further documents.

3. Information of Claim can be received in what all modes?
Claim Intimation received through any of the modes mentioned below:

  • Written
  • Letter
  • Email
  • Fax

In event of a verbal intimation, written claim intimation should be collected from the beneficiary in order to proceed with the claim.

Policy Servicing

1. What is the difference between switch and redirection?
A switch will enable you to shift the existing units of your unit-linked policy into a new fund and will not change your future premium allocation.
A premium redirection will enable you to change your allocation for all the future premiums of your policy. However, your existing units will not be shifted into a new fund.

2. In case I lose my policy document how do I obtain a duplicate policy?
You will need to pay the charges towards the issue of a duplicate policy. We will send a ‘Duplicate Policy Request’ form that you will need to fill and send us.

3. How do I notify a change in address? OR How can I change my policy details?
Download the ‘Change Request’ form from the Download Centre section of our website, fill and send it to us.

4. Can I change the frequency of payment for my policy?
Yes, you can change the premium frequency from low (annual) to a higher frequency (bi-annual or monthly) or vice-versa (In case the product allows the particular frequency).

5. When does a policy lapse?
A policy lapses when the policy holder fails to pay the premium even within the grace period. In this case, the policy loses all its benefits.

6. What is ‘transfer’ or ‘assignment’ of a life insurance policy?
Transfer or assignment is a method of transferring one’s transferable interest in a life insurance policy to another person or institution, for example, as a security for repayment of loans.
7. Can I assign a policy?
Yes, you can assign a policy. To assign the policy, you have to notify us regarding the assignment.
8. Is assignment allowed on all the insurance plans?
Assignment is applicable on all insurance plans.
In case of any further information, please mail us at

We all look forward to a secure financial future.

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