Many families are unaware that they may have money lying in unclaimed insurance policies. Over time, people forget to inform their heirs about life insurance, term plans, or maturity policies. According to reports, thousands of crores remain unclaimed with insurance companies in India. The good news is that the recovery of unclaimed insurance policies is possible if you follow the right steps.

Why Do Insurance Policies Go Unclaimed?

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  Policyholder did not inform nominees or heirs.

  
  


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  Change of address or contact details not updated.

  
  


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  Nominee details missing or incorrect.

  
  


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  Policyholder passed away and family was unaware of the policy.

  
  

How to Start the Recovery Process

1. 
   

   Check with Insurance Companies – Every insurer maintains a database of unclaimed amounts. Visit the company’s website or customer service desk.

   
   


2. 
   

   Use IRDAI’s Unclaimed Amount Portal – The Insurance Regulatory and Development Authority of India (IRDAI) provides an online facility to search for unclaimed insurance policies using basic details like name, PAN, or date of birth.

   
   


3. 
   

   Submit Claim Request – Once identified, file a claim with necessary documents such as:

   
   
   
   
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     Policy number (if available)

     
     
   
   
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     KYC documents of claimant

     
     
   
   
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     Death certificate (in case of life insurance)

     
     
   
   
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     Proof of relationship with policyholder

     
     
   
   
   
   


4. 
   

   Legal Support (If Needed) – In cases where nominee details are missing, legal documents like succession certificate or letters of administration may be required for recovery.

   
   

Quick Tips for Smooth Recovery

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  Always cross-check details on IRDAI’s website.

  
  


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  Keep original documents ready (policy papers, ID proof).

  
  


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  Seek legal help if multiple heirs are involved.

  
  


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  Update your own insurance nominations regularly to avoid future disputes.

  
  

Why You Should Act Now

The longer you delay, the more complicated the recovery of unclaimed insurance policies becomes. With digital portals, the process is simpler today, but incomplete documentation can still cause hurdles. Acting early ensures that your rightful money is recovered without unnecessary delays.