What is an insurance claim?
An insurance claim is a formal request to your insurance provider for reimbursem*nt against losses covered under your insurance policy.
Insurance is a financial agreement between you and your insurer. You have to pay a fixed premium. And in exchange, the insurance provider offers financial cover for losses based on the policy terms.
When the event covered under your policy occurs, a claim must be filed. The purpose is to notify the insurer that the event for which you have opted for an insurance has occurred and the insurer should pay the claim amount.
Types of Insurance Claims
An insurance claim can be categorised into various types.
- Health insurance claims
- Life insurance claims
- Group life insurance claims
A health insurance claim is raised to cover the costs of medical expenses. In most cases, these claims are handled by the hospital or doctor, and the insured does not have to do anything. However, if the claim is denied, the policy owner may have to intervene.
A life insurance claim is raised by the nominee in the unfortunate event of the policyholder's demise. It may require the beneficiary to submit documents like a copy of the death certificate, FIR, PAN, and other documents along with a claim form. Once the insurance company has verified all information, a payout is made to the beneficiary's account.
A group life insurance plan is used by an employer to offer life insurance benefits for their employees. In the unfortunate event of the demise of an employee, the plan's nominee can file a claim and get the sum assured.
COMP/DOC/Apr/2023/104/2750
How does an insurance claim work?
An insurance claim acts as a safety net against financial losses.
Unforeseen expenses like medical emergencies, accidents, and life’s uncertainties can cause immense economic distress. Insurance claims can provide relief in such unfortunate events.
The funds can cover medical bills, act as income replacements, and help your family meet their living costs. If you have financial dependents, claim payouts can serve as a lifeline if your family loses the support of your income.
How to report or submit a claim request?
Claim can be reported through any of our below mentioned touchpoints:
- Visit the claims section of our website for online claim intimation
- Call us at our 24 x 7 ClaimCare number – 1860 266 7766
- E-mail us at claimsupport@iciciprulife.com
- SMS 'ICLAIM
Policy No' to 56767 - Visit your nearest ICICI Prudential Life Insurance branch.
However, your claim will only be considered for registeration upon submission of dully filled claim intimation form along with other requisite documents.
Once all the requisite documents are received, the claim will be classified as intimated and the Turnaround time (TAT) for claim decisioning as mandated by the Insurance Regulation and Development Authority of India under Policyholders’ Interests (PPHI) Regulations 2017 will be calculated.
