Double accident benefit, a necessary option in your insurance policy, that provides for the payment of an additional amount equal to the sum assured in case of the death of a policyholder owing to an accident. Know in detail with SlideShare.

1. DOUBLE ACCIDENT BENEFIT
INSURANCE

2. Double accident benefit
insurance
DOUBLE ACCIDENT BENEFIT IN A LIFE INSURANCE POLICY PROVIDES FOR THE
PAYMENT OF AN ADDITIONAL AMOUNT EQUAL TO THE SUM ASSURED IN CASE
OF THE DEATH OF A POLICYHOLDER OWING TO AN ACCIDENT.
YOU CAN OPT FOR DOUBLE ACCIDENT BENEFIT BY PAYING AN ADDITIONAL
PREMIUM PAYMENT OF ONLY RE1 A YEAR AGAINST AN ASSURED SUM OF
RS1,000 (THIS CAN VARY WITH DIFFERENT INSURERS).
FURTHERMORE, THE DEATH OF THE INSURED MUST FOLLOW WITHIN A
SPECIFIED PERIOD OF INJURY, WHICH IS TYPICALLY 90-180 DAYS.
USUALLY, THE COMPENSATION IS SUBJECT TO AN UPPER LIMIT STATED IN THE
POLICY.

3. Understand better
DOUBLE ACCIDENT BENEFIT UNDER A LIFE INSURANCE POLICY
REFERS TO THE DOUBLE PAYMENT OF THE SUM ASSURED UNDER
THE POLICY, SHOULD THE INSURED DIE DUE TO AN ACCIDENT
DURING THE TENURE OF THE POLICY.
MANY LIFE INSURERS OFFER THIS POLICY BENEFIT ON PAYMENT OF
A NOMINAL ADDITIONAL PREMIUM.
THIS BENEFIT PAYS DOUBLE THE SUM ONLY IN CASE OF DEATH
DUE TO AN ACCIDENT, WHICH MEANS IF THE DEATH IS DUE TO
NATURAL CAUSES, THERE IS NO DOUBLE BENEFIT.

4. DOUBLE ACCIDENT BENEFIT
CLAIMS
DOUBLE ACCIDENT BENEFIT IS PROVIDED AS AN INJECT TO THE
LIFE INSURANCE COVER. FOR THIS PURPOSE AN EXTRA PREMIUM OF
RS.1/- PER RS.1000/- S.A IS CHARGED.
FOR CLAIMING THE BENEFITS UNDER THE ACCIDENT BENEFIT THE
CLAIMANT HAS TO PRODUCE THE PROOF TO THE SATISFACTION
OF THE CORPORATION THAT THE ACCIDENT IS DEFINED AS PER
THE POLICY CONDITIONS.
NORMALLY FOR CLAIMING THIS BENEFIT DOCUMENTS LIKE FIR,
POST-MORTEM REPORT ARE INSISTED UPON.

5. TYPES OF DEATH CLAIMS
1) EARLY
2) NON EARLY

6. IF THE DEATH OF INSURED PERSON TAKES PLACE
WITHIN 3 YEARS OF STARTING THE LIC POLICY, IT
WILL BE CALLED EARLY DEATH CLAIM
OTHERWISE NON EARLY DEATH CLAIM AND NON
EARLY DEATH CLAIMS ARE SETTLED WITHIN 30
DAYS FROM THE DATE OF RECEIPT OF ALL
REQUIREMENTS.
Early & non early
claim

7. REQUIREMENTS IN BOTH TYPE OF
DEATH CLAIMS ( EARLY OR NON
EARLY)
• A LETTER OF DEATH INTIMATION CONTAINING DATE, PLACE, NO OF LIC POLICY & REASON OF
DEATH FROM THE NOMINEE TO THE BRANCH MANAGER OF THE CONCERNED BRANCH.
• CLAIMANT’S PROOF OF RELATIONSHIP WITH THE DECEASED.
• POLICY BOND OR DOCUMENT.
• DISCHARGE FORM OR FORM NO 3801 DULY EXECUTED BY THE NOMINEE.
• DEATH CERTIFICATE.
• CLAIM FORM NO. 3783 A.
• NEFT FORM ( NATIONAL ELECTRONIC FUND TRANSFER FORM) FOR TRANSFERRING THE CLAIM
AMOUNT IN THE ACCOUNT OF NOMINEE AFTER SETTLEMENT OF THE DEATH CLAIM.

8. SOME MORE REQUIREMENTS
• IF THE DECEASED WAS AN EMPLOYEE, EMPLOYER’S CERTIFICATE ON FORM NO. 3787( REVISED )
• TREATMENT CERTIFICATE ISSUED BY THE HOSPITAL/ ATTENDING PHYSICIAN’S CERTIFICATE ON
CLAIM FROM B1 ( FORM NO. 3816) & B ( FORM NO. 3784 REVISED).
• IDENTITY/ BURIAL CERTIFICATE BY A PERSON WHO ATTENDED THE FUNERAL, EXCEPT THE RELATIVE
OF THE DECEASED ON CLAIM FORM “C”. (FORM NO. 3785 REVISED).
• NOTE: FOR DOUBLE ACCIDENT BENEFIT, FURTHER CERTAIN PROCEDURES ARE NEED TO BE
FOLLOWED.
• THE CLAIM MUST BE LODGED WITH LIC OF INDIA WITHIN 120DAYS FROM THE DATE OF DEATH.
• ATTESTED COPY OF F.I.R., POST MORTEM REPORT DULY ATTESTED BY THE COMPETENT COURT OR
CIVIL POLICE IS REQUIRED.
• SPOT PANCHNAMA & EYE WITNESS STATEMENT. CLAIM WILL BE ADMITTED AFTER ACCEPTANCE AND
VERIFICATION OF THE ABOVE MENTIONED DOCUMENTS BY LIC & CLEARANCE BY THE CONCERNED
SDM.

9. PROCEDURES FOR DOUBLE
ACCIDENT BENEFIT
• THE CLAIM MUST BE LODGED WITH LIC OF INDIA WITHIN 120DAYS
FROM THE DATE OF DEATH.
• ATTESTED COPY OF F.I.R., POST MORTEM REPORT DULY ATTESTED
BY THE COMPETENT COURT OR CIVIL POLICE IS REQUIRED.
• SPOT PANCHNAMA & EYE WITNESS STATEMENT.CLAIM WILL BE
ADMITTED AFTER ACCEPTANCE AND VERIFICATION OF THE ABOVE
MENTIONED DOCUMENTS BY LIC & CLEARANCE BY THE
CONCERNED SDM.

10. THANK YOU…