Across life, health, and general insurance companies in India, more than ₹25,000 crore remains unclaimed. In most cases, policyholders forget to file claims, or nominees do not know a policy exists. Many families also lose access due to outdated bank details or missing documents.
The regulator has now made it easier to track and claim these amounts through insurer websites and IRDAI’s Bima Bharosa portal.
Below is a simple explainer for policyholders, nominees, and NRIs.
What counts as an unclaimed insurance amount?
IRDAI classifies an amount as unclaimed if:
- It is payable by the insurer (death claim, maturity, survival benefit, surrender value, health claim, refund of excess premium, premium deposit, etc.).
- It remains unpaid for more than 12 months because the insurer could not reach the policyholder or nominee.
- Interest earned on this unpaid amount is also part of the unclaimed sum.
For general/health insurers, advance premiums are not considered unclaimed unless they remain unadjusted and unrefunded after the policy period.
How to check if you have unclaimed money
1. Check directly on insurer websites
Every insurer has an “Unclaimed Amounts” search section where you can enter:
- Name
- Date of birth
- PAN
- Policy number
2. Use IRDAI’s Bima Bharosa Portal
The centralised portal lets users check across all insurers in one place.
Search using:
- Name
- Date of birth
- PAN or Aadhaar
If a match appears, you can upload KYC and claim proofs and submit bank details. The insurer will verify and release the amount.
How to claim the amount: documents required
The claimant (policyholder/nominee/legal heir) must submit:
- Policy document or policy details
- Bank account details and cancelled cheque
- Valid ID and address proof
- Relationship proof (if nominee/legal heir)
- Completed claim form
- Succession certificate (if legal heir, where applicable)
- Documents supporting the claim (death certificate, hospital records, FIR/police report etc.)
If the original policy document is missing, the insurer may require an indemnity bond.
Additional checks apply to death claims and legal-heir claims.
Can NRIs claim unclaimed insurance money?
Yes.
NRIs can use the Bima Bharosa portal or insurer websites from anywhere.
Documents typically required:
- Self-attested passport, visa, overseas address proof
- NRE/NRO or foreign bank account details
- KYC documents as per insurer requirements
Most insurers accept digital submissions, so no physical visit is needed.
How to avoid unclaimed amounts in future
- Keep your contact details, bank account, and nominee details updated.
- Link policies to PAN/Aadhaar.
- Maintain a consolidated record of all policies.
- Use Digilocker or an e-Insurance Account to store policies.
- Enable SMS and email alerts for renewals and claims.
- Review annual intimation letters sent by insurers about unclaimed amounts.
FAQs
What happens after 10 years?
Unclaimed amounts older than 10 years are transferred to the Senior Citizens’ Welfare Fund (SCWF).
Where can I raise a grievance?
You can use:
- Insurer’s Grievance Redressal Officer (details on the insurer’s and IRDAI’s websites)
- IRDAI Bima Bharosa portal: https://bimabharosa.irdai.gov.in/
- IRDAI toll-free: 155255 / 1800 4254 732
Do insurers pay interest on unclaimed amounts?
Yes. Insurers must pay the unclaimed amount along with the investment income earned on it.