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what happens when life insurance policy mature?

procedure for Maturity Claims

procedure of maturity claim

It is a matter of great pleasure that your policy has matured.

It is a time to fulfill the goals that you had set years back.

For receiving maturity benefits,

please send a written request along with following documents

to your servicing State Life zonal office:

  1. Original policy document
  2. Copy of National Identity Card
  3. Maturity discharge voucher duly verified by your bank
  4. If your signature has changed over the years, please send us your three specimen signatures of old and new styles

Immediately on receipt of the above documents,

we will process the case further for payment  due if any,

against maturity claim under the above policy.

Loan:

state life may grant a loan to the policyholder on his/her written request, against the net surrender value of the policy. the amount of loan shall not exceed 80% of the said net surrender value. the rate of profit or return and the other terms and conditions will be determined by state life at the time of granting the loan.loans of less then RS will not be given.
the amount of loan together with accrued profit or return will be the first charge on the policy, prior to all other claims.

SURRENDER VALUE;
The policy will acquire a surrender value after it has been in force for at least two consecutive years provided no premiums are in default. The surrender value will be quoted by state life on request of the policyholder. the surrender value is guaranteed to be not less than 30% aggregate premiums.

procedure for Maturity Claims

State Life insurance policies provide a wide range of benefits in case of death of the persons covered against them. If your loved one covered under any of State Life has expired, you should lodge a death claim with us. All you have to do is to send a written intimation to the zonal office of State Life servicing the policy against which you are lodging a death claim.

Maturity:

It is a matter of great pleasure that your policy has matured. It is a time to fulfill the goals that you had set years back. For collecting maturity benefits, please send a written request alongwith following documents to your servicing State Life zonal office:

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