How to make a maturity life insurance claim

Insureds must keep a register of the expiry dates of the life insurance policies they hold and, where applicable, the sum insured as well as the guaranteed bonuses or applicable supplements, where applicable. Once the policy approaches the due date, the insurance company usually prompts the policyholder to submit the necessary documents to be able to process the claim when due.


The maturity benefit is only payable when the insured person survives the term of the policy. The policy must not have been surrendered or canceled and the policyholder must have paid all premiums.

When to initiate

Approximately one month before the policy’s due date, the policyholder must send the application with the necessary documents to the insurance company to ensure that the product is paid immediately after the due date.


A policy release form can be downloaded from the insurance company’s website or can be obtained from the company’s office. The form must be completed and signed by the policyholder and by two witnesses. A revenue stamp must be affixed to the policy document.

Necessary documents

In addition to the discharge form, the policyholder must enclose the original policy document, the void cheque, the duly completed bank mandate form for automatic credit to the bank account and a copy of the identity and address such as PAN, Aadhaar card, etc.

Points to note

  • One can also choose to receive a post-dated check to receive maturity benefits, which can then be deposited after the maturity date.
  • If the insured dies after the maturity date but before the policy release process, the maturity benefits are paid to the legal heirs of the deceased.

Content on this page is courtesy of the Center for Investment Education and Learning (CIEL).
Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.


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