Outlook Money
Insurance payouts can remain unclaimed for years. Here are seven ways to check whether you or your family has money pending from an insurance policy.
Insurance money becomes unclaimed when it remains unpaid for a year. It can include maturity amounts, death claims, survival benefits, surrender values, or premium refunds.
Start by checking old policy files, premium receipts, emails, SMS alerts, tax papers and bank statements. These records can help identify forgotten insurance policies from years ago.
Visit your insurer’s official website and look for its unclaimed amount section. You may need details such as policy number, name, date of birth or PAN.
If you do not know the insurer, use links available through IRDAI’s Bima Bharosa platform. These can direct you to registered insurers’ unclaimed amount search pages.
Finding an unclaimed record does not mean instant payment. The insurer may verify identity and entitlement, then request KYC, bank details and supporting documents before releasing money.
Keep your family informed about insurance policies, nominees and document locations. Update contact, bank and nominee details regularly to make future claims easier and faster.