Why Should You Check Your Life Insurance Policy Details?
After purchasing a life or term insurance policy for your family, here is why you should check your life insurance policy details:
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Prevent Losses: In case you have bought a life insurance policy with an investment component, keeping an eye on the fund's performance can save you from undergoing loss. For example, if you have purchased a ULIP plan and the funds you had invested in are in loss, you can redirect the units into other better-performing funds to gain the returns as per your needs.
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Update Details: If you have updated the nominee, address, or any other personal information, you can check your life insurance policy details to ensure that the details are updated on your policy document.
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Check Policy Status: You can check the status of your life insurance to see if the policy is still ‘in force’, ‘lapsed’, or ‘surrendered’.
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Track Claims: In case you have intimated a claim with the insurer, you can track the status of the claim using your life insurance policy details.
All of this requires checking life insurance policy status, and only then the necessary changes can be made. Your life insurance policy status can be checked by getting in touch with the insurer and informing them about your policy number.
How do I Check my Policy Status of Life Insurance Policy?
There are many ways through which you can check policy status:
Online: This is the most convenient method of checking your life insurance policy details. Most insurers offer the option of online registration. You need to register online only once, and you can visit the insurer’s website and check your life insurance policy status as per your needs. You can even pay the premium online through net banking, credit card, etc. You can also check the policy status of your life insurance online through Policybazaar’s website or app. Just visit Policybazaar’s official website, log into your account, and all the policies you have purchased will be listed. Check the life insurance policy details of the desired plan.
Customer Care: Most life insurance companies in India offer the option of getting your queries on call by contacting customer support on the dedicated customer care number. You can call the customer care of the insurance company, mention the policy number to the executive and know about your current life insurance policy status.
Branch: You can visit the insurer's branch. Quote your policy number, and all the details regarding the policy will be provided.
Mobile Phones: You have to send an SMS from your registered mobile number to the insurer, and policy details will be sent to your mobile. However, it is important to note that the SMS code for specific policy details like premium payment receipts and detail updates might be different for different insurers.
Points to Remember While Checking Life Insurance Policy Details
Here is a list of points to remember while checking life insurance policy details:
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You should frequently check your life insurance policy details to stay informed and up-to-date about important information like premium due dates.
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Make sure you are a registered user and are entering the right credentials to log in to your account. This can help you avoid account block due to failed attempts.
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In case you are checking your life insurance policy details online, make sure you are connected through a safe network connection.
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When checking life insurance policy details online, make sure you never share your OTP, password, or any other details with anyone.
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Always carry proof of identity, like an Aadhaar card, Voter ID card, or Passport, when visiting the company office to check life insurance policy details offline.
Wrapping it Up!
Various insurers offer the feature of checking your life insurance policy details online or offline for the convenience of the customers. Checking your life insurance policy status online can not only save time and energy but also ensure you are up-to-date with important information. All you need to do is provide your policy number along with the applicable OTP or password and easily check the policy status of your life insurance from the comfort of your home.