- This topic has 11 replies, 3 voices, and was last updated 1 year, 3 months ago by
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LMy father had taken a home loan. Hello has died recently. So I checked for insurance in loan documents. He had opted for insurance. I contacted to bank regarding insurance but they are saying that it can’t be claimed as policy not issued yet. Loan for Insurance policy was sanctioned but not yet disbursed to the insurance company.
How can I claim insurance?
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RADVOCATE HERE. Firstly, fill the claim form along with necessary documents (even if you got just the policy number and no document). Preserve the application number/acknowledgement number etc. Meanwhile, copy that and file it with the Internal Insurance Ombudsman. If it gets rejected, approach for statutory Insurance Ombudsman or Consumer Commission, as per your discretion. My best wishes.
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LI don’t have policy number as It is not yet issued as per the bank. Bank only sanctioned additional loan along with the home loan for purchasing the insurance. My father had given consent the bank to purchase the insurance policy on behalf of him but bank not yet disbursed the loan amount to the insurance company for issuance of policy. I only have the insurance loan statement where it showing Rs.371700 sanctioned for mortgage insurance but not yet disbursed.
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LSanctioned Amount is also not a round figure amount. Rs 371,700 was sanctioned for the insurance, which shows that he had accepted the proposal.
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L[similar case](https://www.newindianexpress.com/cities/bengaluru/2022/Jul/20/sbi-told-to-waive-off-rs-5409-lakh-loan-to-bengaluru-woman-2478485.html)
I think policy not issued due to the negligence of the bank.
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