Claimant
Claimant: What is a Claimant (in an insurance context)? Meaning, Example and FAQs
What is a Claimant in insurance: The person or entity making a claim under an insurance policy.
Why is identifying the Claimant important in the claims process: Person or entity making a claim under a policy.
How does a Claimant file and follow up on a claim: Files claim, submits required documents.
Who can be considered a Claimant under an insurance policy: Policyholder or beneficiary, insurer.
Which types of insurance policies involve a Claimant making a claim: All insurance types.
When does a person become a Claimant in the context of insurance: When claim is made.
Case Study: Background: Mr. Sanjay Singh, a 47-year-old civil engineer from Lucknow, had a term life insurance policy with a sum assured of ₹75 lakh to protect his family’s financial future. Incident: Unfortunately, Sanjay passed away due to a sudden accident. After his death, his wife, Mrs. Anita Singh, approached the insurance company to receive the policy benefit. Outcome: Mrs. Anita Singh, being the nominee and legal heir, became the claimant — the person who formally filed the claim to receive the insurance payout. She submitted the death certificate, policy papers, identity proof, and completed the claim form. The insurance company processed her claim and paid the entire sum assured of ₹75 lakh to her bank account. Key Insight: A claimant is the person (or legal heir) who makes a formal request to an insurance company for payment of the benefit after an insured event occurs. In India, clear nomination and proper documentation make it easier for the rightful claimant to receive the insurance amount without delay.
