Life Insurance

If you have an issue with the Life Insurance, you could be entitled to a refund. Use our free tool to raise an issue with the service provider.

Life insurance is the most generally adopted insurance coverage in India, owing to its appealing posthumous payouts and tax-saving benefits. The policyholder pays a positive amount of money as 'premium' to the insurer and is promised to be paid back upon the prevalence of the stipulated event. 


The Insurance Development Regulatory Authority of India (IRDAI) is the regulator of insurance coverage rules in India. The IRDA, in general, protects the rights of policyholders against exploitation at the hands of the insurer. In case you have got a grievance with your life insurance insurer, you need to follow the guide to know your rights and resolve it free via resolver!

How to submit my issue with the Insurance Company?

  • Approach the Grievance Redressal cell of the insurance company via resolver. Write a complaint, explaining your situation with detailed facts and circumstances. Once the complaint is filed, keep the receipt or acknowledgement slip with you. The insurance company is expected to resolve your issue within 15 working days. 
  • If the situation is not resolved or you are not satisfied with the response, you can escalate your issue via resolver to IRDAI, which is the regulator of insurance business in India. It will re-examine your complaint. You can either send them an online e-mail or post your complaint or register it via an online portal called IGMS (IRDAI online portal to register the complaint) or call them on their toll-free number. 
  • If you are still dissatisfied with the response, you can escalate your issue to insurance ombudsman via resolver. The ombudsman has to resolve the dispute within 3 months from receipt of the complaint.


What happens when you purchase an insurance policy/product from a bank?

  • Reserve Bank of India has taken steps to safeguard the rights of customers, in case of third party products like insurance, mutual funds from the bank. 
  • You can file a complaint to the concerned bank’s grievance redressal cell, both offline or online with the detailed facts and circumstances of your case, the relief sought and carry necessary documents and proofs along with your complaint. For a hassle-free, quick process, you can easily file a complaint with your bank via resolver. Wait for 30 days. 
  • If the bank hasn't replied to your complaint or you are not satisfied with the response, you can escalate your issue via resolver to banking ombudsman created by RBI to resolve banking issues.


How will Resolver help you?

If you have a complaint, first make sure that is reasonable. If you believe that it is, you can use Resolver to submit your issue. Any complaint from Resolver is an official complaint, and the bank is therefore obliged to act upon it. If it’s not resolved, you can take your case to the IRDAI and subsequently to Insurance and Banking Ombudsman. Resolver plays the role of the bridge between you and the company you’re complaining to,  making it easier for you to get your complaint to the right place at the right time. Resolver is free. No adverts, no hidden costs. Start by telling us the name of the company or organisation you have an issue with, raise a case and leave feedback afterwards.


Common instances where you might be the victim of miss-selling of insurance products -

  • If you are applying for a loan or interested in opening a bank locker, you don't have to agree to buy insurance products along with it.
  • Do not invest in single premium insurance products while investing in fixed deposits. If you want to, calculate the risk and expenses of insurance product.
  • If you are unsure about the insurance product, don't unnecessarily buy it. Refrain from buying any insurance policy/product if you are not interested. Don't fall for lucrative schemes and promises offered by the bank.


Things you must ask your life insurance agent to avoid legal battles  -

  • Whether he is trained/licenced to deal with life insurance policies.
  • To understand the type of insurance policy and the risk involved, ask the agent you give you full financial analysis. Ask for any alternatives
  • Be certain about your life insurance coverage/amount
  • Ask your agent to explain to you the benefits attached to the insurance policy
  • Are there any guaranteed returns?


My insurance claim is rejected, what have I done wrong?

We advise you to contact your insurer and know why your insurance claim is rejected. Your insurer will give you the right insights about your insurance claim. However, for future references, follow the steps to ensure that your claim is not rejected by the insurance company -


  • Make sure to thoroughly proof-read your insurance application form. 
  • Disclose your health conditions, family medical history etc. to avoid concealment of facts
  • If the insurer insists for medical tests, don't ignore the request, as it will reduce the chances of a claim being rejected on account of pre-existing disease(s).
  • If you find any errors in the insurance policy, communicate the inaccuracies to the insurer immediately. 
  • Submit valid documents along with the application form
  • Remember to pay monthly/quarterly/yearly premiums on mentioned due-dates to avoid lapse of the policy. 
  • Update nominee information


Is it possible to discontinue/cancel my life Insurance policy?


  • If it is a term life insurance policy, the policy will lapse and there will be no risk cover if you stop paying periodic premiums. You can also surrender your policy but surrender amount might be lower than your principal amount.
  • If it is a traditional life policy (investment cum insurance policy) you have two options -


  1. You can convert the policy into a paid-up policy without exiting 
  2. You can surrender the policy and ask for surrender amount by exiting the policy


  • Before opting for any of the two options, make sure that your policy has a surrender value. If the tenure of the policy is 10 or more years, you should pay the premium for at least 3 years. If the tenure is less than 10 years, the premium should be paid for at least 2 years. 
  • In case you haven't paid the premium for even 2 or 3 years and want to discontinue the policy, the insurer will not covert your policy to paid-up policy and will not pay you anything either. 


I haven’t received my life insurance policy bond, what to do?

Contact your insurance company if you haven’t received your bond papers within a stipulated time period. 


My life insurance policy documents got stolen!

You have to file an application before the insurer for the issuance of a duplicate insurance policy document. The insurer will charge you a nominal fee to issue duplicate policy documents. 

  • A written application must be submitted to the insurer, intimating the loss of the policy. The reason for the loss, likely date of loss, policy details, such as policy number, cover, date of issuance, and whether or not the policy was assigned, need to be provided in the application. 
  • In case of loss, some insurers will insist you place an advertisement, at your own expense, in a newspaper in the state where the loss is reported to have occurred. This must be sent to the insurance agency a month after its appearance. 
  • Certain insurance agencies expect you to give a reimbursement bond on an appropriate stamp paper. The report goes for repaying the insurance agency for any hardship that might be caused because of abuse or misrepresentation through the original policy document, and the insured consents to return it, whenever found, to the insurance agency.


Is it possible to make alterations in my life insurance policy?

Yes, you can ask your insurance company to make the expected alterations in your life insurance policy. To initiate this process, you have to write an application to the branch manager. Discuss the alterations with your insurer and pay the quotation fee as charged. 


I didn’t pay the premiums and now my policy has lapsed. What can I do?

You can revive your insurance policy if it has lapsed due to non-payment of premiums. On the revival of the policy, you have to pay the outstanding premiums with interest.


What to do if I want to increase my insurance coverage?

  • Your life conditions and needs fluctuate after some time. Marriage, kids, new house etc. can influence your desire for the extra security you need. Contact your insurance specialist about expanding your insurance sum. Generally, an expense is charged for extra inclusion. 
  • On the off chance that your insurance coverage has a term change rider, you can expand the length of your insurance by changing over it into a permanent policy when you arrive at the finish of your term. 
  • This permanent inclusion will proceed for a lifetime.
  • The month to month premiums will be altogether more than what you were paying prior. 
  • You can likewise purchase another policy that offers an effectively expanded spread. You should submit that you officially possess a life insurance policy, however, this new policy will accompany extra inclusion for your family and requirements.


My insurance provider hasn’t paid the surrender value to me, what are my rights?

With an expanding number of premiums paid, the surrender value increments. In the event that you give up a insurance policy before the satisfaction of its term, you get back a bit of the cash you paid as a premium, after subtraction of surrender charges. This cash is known as surrender value. 


You will get a surrender value if you have paid for 2years (if premium paying term is constrained to 10 years), and 3 years (if premium paying term is more than 10 years). 

In any case, you didn't get surrender money in spite of paying premiums consistently: 

  • Keep your insurance policy documents and securities verified to comprehend the number of premiums paid so far.
  • Use Resolver to contact your Insurance supplier and ask explanations behind non-payment/incorrect surrender value.
  • In the event that you think that the operator abused or disguised information from you, contact and resolve the issue with them.

Helping you with Life Insurance services

You can raise issues with 61 companies in Life Insurance services
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