Aditya Birla Sun Life Insurance Company Limited

Maturity Claims

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Definition:

The claim for which a policyholder/life insured can apply for after surviving the complete policy term is called maturity claim.

Description:

The life insured after surviving the complete policy term has to file a claim to the insurance company to get the maturity benefit. The maturity claim can be filed at the end of the policy term.

The life insured has to file for the claim along with the documents like original policy documents. After the verification of the documents, the insurance company will process the claim and make the payment to the policyholder. The proceeds of the maturity claim will be directly credited to the policyholder’s account once the policy matures. A policyholder will have to file with these documents like the policy discharge form, original policy document, identity card, age proof, proof of bank details and cancelled cheque.

Example:

Sumit took an endowment plan with a policy term of 15 years. After the completion of the policy term, Sumit survived and was eligible to file the maturity claim. The Life Insurance company verified all the documents that Sumit submitted. His maturity claim was passed once the insurer approved it.

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ABSLI Salaried Term Plan

Exclusively For Salaried Individuals

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4 Plan Options

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Life Cover upto 70 years

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Recently Added Article

ABSLI Salaried Term Plan (UIN:109N141V02) is a non-linked non-participating individual pure risk premium life insurance plan; upon Policyholder’s selection of Plan Option 2 (Life Cover with ROP) this product shall be a non-linked non-participating individual savings life insurance plan.
*LI Age 21, Male, Non Smoker, Option 1: Life Cover, PPT: Regular Pay, SA: ₹ 1 Cr., PT: 10 years, Annual Premium: ₹ 6100/- ( which is ₹ 508.33/month) Premium exclusive of GST. On death, 1 Cr SA is paid and the policy terminates.
ADV/8/22-23/1072