Skip to main content

Does your Life Insurance policy are still Unclaimed?

By RJ Advisory

Recently I read one article in business magazine and inspired to write this article to help policy holders. According to IRDA circulars in India unclaimedmoney with life insurance firms rises 250%. As IRDA said, at the end of 2012-13, unclaimed money with life insurance companies was Rs. 4,866 crore compared to Rs 1,373 crore in 2009-10. The main reason behind rise in unclaimed amount is because of dependents not being aware
of existence of a life insurance policy. Among other reasons the IRDA said is to rising unclaimed amount delay in settlement of claim and change in address of the insured. It could be your money also lying with any Insurance Company got unclaimed!

What are some steps you must take to secure your existing policy?

  • Check the all policies you are holding in name of you and your family members.
  • Check your Contact details like Address, Mobile, e-mail etc are properly updated in Policy.
  • You must also update your Bank details (MICR, NEFT code) in your Insurance Policy.
  • You should check and note down your maturity date of your policy in your personal diary.
  • Check Nominee details (If nominee is minor, appoint guardian to receive any claim in future).

But Latest Good news is that From April 1, Policyholders will be able to get details of unclaimed insurance online. From April, Policy holder or nominee will be able to access information about the policy. IRDA has asked insurance companies to display details like policy holders name, address, maturity, death benefit and premium due for refund etc things, unclaimed for over six months, on their websites. Share your best comments on this articles.


  1. Any link or website which can help me to know unclaimed details.

  2. Sandip, You can check more details after 1st April on IRDA website (


Post a Comment

Leave a Comment

Popular posts from this blog

Equity markets all time high – What NEXT ???

Now days will be back very soon people asking Market Kya Lagta Hai ???This is common and tedious question which I would not like to comment more. But equity is all about investing and not for selling high and buying low, because give time to market rather than timing the market. It is more important how much time you have given to market. See if you invest in any business you check your business value every day like stock price you check everyday. Change your relationship with equity before you start investment in stock market, because your relationship can change your view of equity.

Wealth Creation- Best Example from Mutual Fund Investment

Equity mutual fund has immense potential to creating wealth, But how to create the wealth? It's also big question for investors to hold the investment for how many years? See every investors must have their own plan and you must stick it for creating better wealth over a time. Today I want to share one of the best example by one mutual fund scheme which have given tremendous return in the history of all mutual funds ever in India.

Golden times over for Gold ?

First of all I would like to share my personal objective ofwhy starting this Blog?  I want to share pure informative articles on personal finance and want to add Planning as whole process. Why planning is necessary in every individual's life? How can you start small and add big planning? This is the ideology to start and select the name like "My Planning"

Gold is ever attract to Indians are now in bear phase. so is it golden times over for the Gold? check the history every markets (Equity, Commodity, Real Estate etc.) has significantly passed through bulls and bear phase. here just want to share this fundamentals and technical idea so common man could understand this deeply.
Small and retail investor should clearly understand asset allocation because no one know which asset will give positive or negative return in coming times. we should make better planning through the help of financial advisor.
Coming to the my point every investor should not invest more than 10% of this …