Insurance Policy claim
9 months ago
Hi, My husband taken sbi life insurance policy. I am nominee/wife. He was died 2years ago. We don't have children's. To claim policy money,i have submitted all required documents to sbi life after husband's death. My in laws send letter to sbi life to stop claim amount. After sbi life reacted and asking me, legal heir certificate to claim policy amount. I send notices from my lawyer. As a wife/nominee I have right to claim amount. I heard that if I send declaration suit to sbi life problem can solve. Please suggest me to claim policy
Thank you
Please try to procure a legal heir certificate as required by the Insurer from the competent authority to settle the insurance claim asap
A.Dear Sir,
It will be released and disbursed according to policy rules and regulations. Normally, Section 8 of Hindu Succession Act applies.
Section 8 of Hindu Succession Act:
General rules of succession in the case of males.―The property of a male Hindu dying intestate
shall devolve according to the provisions of this Chapter:―
(a) firstly, upon the heirs, being the relatives specified in class I of the Schedule;
CLASS I
Son; daughter; widow; mother; son of a pre-deceased son; daughter of a pre-deceased son; son of a pre-deceased daughter; daughter of a pre-deceased daughter; widow of a pre-deceased son; son of a pre-deceased son of a pre-deceased son; daughter of a pre-deceased son of a pre-deceased son; widow of a pre-deceased son of a pre-deceased son.
Until and unless the policyholder voluntarily makes a person a nominee in the policy proposal form one cannot claim herself or himself as a nominee to claim the compensation or benefit on the death of the policyholder. A nominee is a person who receives the proceeds of a life insurance plan in case of the death of the policyholder during the policy term and a nominee is a trustee of the benefit which is shared by all the legal heirs. Under the Insurance Laws (Amendment) Act of 2015, immediate family members such as deceased spouse, children, or parents are entitled to receive the claim amount as a beneficial nominee. It means they have the right to claim the death benefit over any other legal heir. As per Section 39 of the Insurance Act,1939, the insurance company must hand over the amount to the nominee mentioned in the policy. Since your inlaws made a claim for the death benefit of the policyholder, the claim turns into the status of a rival claim for the same benefit. Accordingly, in case of a rival claim, Insurer asked for a legal heir certificate from the claimants. So you need to obtain a legal heir certificate in respect of your deceased husband from the Competent Authority, Municipal Authority following the standing procedure of the authority to claim your share of the claim benefit along with other legal heirs/beneficiaries. The claim is already been delayed from the date of cause of action and if it is delayed further then the claim may be barred by limitation. A civil suit if filed for a declaration may delay the claim further. So, in the prevailing situation, you should try your best to obtain a legal heir certificate as required by the Insurer from the competent authority to settle the insurance claim asap.
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