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I’ve a life insurance coverage coverage in India, however I work in Nigeria. Will my residential standing have an effect on my declare disbursal? Additionally, will my dependants get the declare in case of my demise and what would be the process?
—Arvind Kumar Singh
Residential standing wouldn’t influence the settlement of your declare. In case of your demise, your nominee would get the sum assured after the declare is filed. To file a declare, the insurer must be knowledgeable. The nominee ought to refill and submit a dying declare type together with the dying certificates, his or her identification proof and bank particulars. The corporate would confirm the small print after which pay the declare straight into the bank account of your nominee. Declare settlement would occur in India and the cost will likely be made in Indian forex. It is best to, nonetheless, inform the insurer in regards to the change in residential deal with, and replace the e-mail ID to get all communications.
I purchased a life insurance coverage coverage in November. Nevertheless, I haven’t but obtained the coverage bond. Is it doable to cancel the coverage and get a refund?
Life insurance coverage insurance policies carry a free-look interval inside which you’ll be able to cancel the coverage. Inside this era, give up expenses usually are not relevant. You can be eligible for premium refund after deduction of proportionate threat premium for the protection interval, bills incurred by the insurer on medical examination and stamp responsibility expenses. The free-look interval is of 15 days from the date of receipt of the coverage doc. Because you haven’t obtained the doc, you might be inside the free-look interval. To cancel the coverage, it’s important to give a written discover to the insurer. If you wish to proceed, then you’ll be able to write to the grievance cell of the insurer in regards to the non-delivery of the coverage doc. Point out the cost proof, mode of buy and connect a duplicate of the proposal type.
My automotive has been parked for over a month now. I attempted to restart it just lately, however it wouldn’t. I spoke to my mechanic who mentioned there might be a battery failure. Will my motor insurance coverage coverage cowl the fee?
Extended non-usage typically results in battery failure in vehicles. This falls inside regular put on and tear of the automobile and won’t be lined beneath insurance coverage. Insurance coverage usually covers losses attributable to an accident reminiscent of fireplace, collision or a pure disaster reminiscent of earthquake or flood.
Abhishek Bondia is principal officer and managing director, SecureNow.in. Queries and views at [email protected]