While life insurance is meant exactly for such a case, one needs to follow certain steps to make hassle-free claims.

What is a death claim?

It is a formal request made by the beneficiary of a life insurance policy to an insurer, seeking payment of the life cover amount on the death of the insured. 

Intimate and submit documents

First of all, intimate the insurer about the death of the insured at the earliest. The insurer usually responds by asking for documentary evidence. Documents such as death certificates are a must for death claims. However, in these times some insurers like LIC are also allowing submission of hospital and cremation records of death, as documentary evidence, if it has occurred in a hospital. So, check with your insurer on this.

Following are the documents required by the insurer 

• Filled-up Death claim form
• Original Death certificate from the local municipal authority
• Original policy document
• Copy of claimant’s identity proof (photo and residential)
• Copy of bank account proofs (Cancelled cheque)

If the death has occurred due to non-accidental death, then additional documents will be required  

• Medico-legal cause of death certificate
• Medical records (Admission notes, discharge/death summary, test reports etc)
• Medical attendant’s/hospital certificate to be filled by the treating doctor
• Employer certificate (for salaried individuals)

And in case of accidental death, 

• FIR/panchnama/police inquest report and post-mortem report in case of accidental death or suicide 
• Copy of driving license, if the insured was driving the vehicle at the time of the accident

What’s the usual time frame for claim settlement?

Insurers classify claims into two types – early and non-early claims. Early claims are those triggered within three years of the policy commencement, while non-early claims happen after three years. All non-early claims are usually settled within 10 working days, while early claims may take 45 days or even more.

As per IRDA regulations, settlement or repudiation of claim should happen within 30 days of receiving all documentary evidence, unless the case requires an investigation. In case of an investigation, the settlement process could take up to a maximum of 120 days. 

Who can make a claim?

Nominee(s), guardian (in case of the minor nominee), assignee (person to whom the policy rights have been transferred) can make a claim. If there are no nominees or the nominee is dead, then the proof of legal title to the claim proceeds should be made by submission of proof of title/succession certificate (given by a competent Court). 

What if the policy document is lost?

In case of loss of policy document, the nominee has to submit an indemnity bond – that indemnifies the insurer against any loss on account of third-party claims. 

How is the rider claim processed?

If rider claims, like accidental death benefit is part of the policy, then it can be claimed by submitting FIR, post-mortem and related documents.

What types of deaths are not covered?

• Death due to natural calamities like earthquake or floods
• Death due to accident unless covered in a rider. However, if the policyholder was intoxicated or engaged in adventure sports activities at the time of the accident, the claim will be rejected. 
• Death due to suicide. Policyholder committing suicide within a year of buying the policy will result in rejection of the claim. However, the nominees are entitled to receiving at least 80% of premiums paid in such cases. 
• Death due to illness. Insurers can also reject claims if the insured did not disclose some critical health conditions or harmful habits like smoking. 
• Death due to pregnancy complications.

Can you change the payout option?

Usually, insurers don’t change the payout option chosen at the time of buying the policy. However, some allow the beneficiary to alter it – especially if it is from an income to a lumpsum payout option. It has to be specified in the claim form and sometimes the beneficiary also gets an option to seek one year’s income in advance to tide over the financial crisis. 

But if you’re a small business owner or decision-maker, don’t fall into this trap. At a time when hiring quality employees is more important to small businesses than winning new customers, your background check partner can make or break your hiring decisions since they are engaging with applicants and providing data to assist with finding the right talent for the job. The wrong decision can be costly. Knowing this, it’s crucial to look deeper—beyond cost, speed, or even product comparisons—to understand which background screening partner best aligns with the objectives and priorities of your small business.

To help identify a “best-fit” background screener for your small business, here are a few subtle yet sometimes overlooked areas to cover when searching for the right background check service for small businesses.

Key Questions to Ask Your Background Check Provider

How do others in your industry perceive the screening provider?

Knowing if the background screener has a proven track record of providing the services you need to other companies will ensure that it’s equally capable and qualified to assist you. Ask potential partners to provide references from at least two existing clients similar to your company and industry. Your aim in conducting reference checks is to get a feel for what it’s like to work with the partner, especially regarding dispute resolution, problem-solving, and responsiveness. Will they provide your small businesses with knowledgeable, personalized service, or are you signing up for a low-cost program that offers no support when you need it?

Does the background check have financial backing and stable leadership?

Consider how long the provider has served the background check industry and its affiliations with professional associations that help drive background screening legislation. Solid financial backing supports innovation and an ability to adapt to change, whether it occurs in your company, your industry, or through legislation. This is key to a provider’s capacity to stay ahead of change in the industry and seamlessly scale your screening program as your small business grows. Take the time to understand the pedigree of the provider’s leadership team and their history of delivering results. Working with respected industry leaders can do two things for your small business: First, having direct access to cutting-edge hiring and screening best practices and technologies. Second, partnering with recognized industry leaders helps instill trust in your small business from applicants, as well as other potential business partners.

How robust are the provider’s privacy and security policies?

It’s the digital age. Data is everywhere. A single data security breach, no matter how small, can derail your limited hiring resources and hurt your ability to attract top talent. Ensure your selected screening partner has sound data security practices to protect sensitive applicant data. Here are a few questions to ask:

• Does the provider ensure all its employees receive comprehensive privacy and data security training covering local and global requirements?
• Does the provider meet international standards like GDPR and ISO Standard 27001:2013?
• Do the provider’s privacy policies cover regulations in all areas where you operate?

These questions may seem over the top for small businesses with relatively low hiring volumes. Still a provider’s level of commitment to data privacy and security is a direct reflection of how well they understand the industry and how well they can support your business should any issues arise.

Does the provider have an in-house legal and compliance team?

Background screening is a highly regulated industry governed by the Fair Credit Reporting Act (FCRA) and various other state and local laws regarding the use of consumer data in hiring. You will want to make sure screening providers comply with all industry guidelines and regulations. When choosing a background check service for your small business, ensure they stay up to date with changes in legislation and have processes in place to help your small business comply with those same regulations. Ask about the relationships your provider holds with inside and outside counsel, as well as the in-house legal and compliance professionals it employs to review applicable laws and regulations. Inquire about how the provider stays up to date with local and regional legislative changes.

Choosing the right background check service partner

As a stakeholder, it’s well worth your time and effort to better understand potential background screening partners by asking qualitative questions about their qualifications. Don’t fall into the trap that can put your business at risk. Perform this due diligence to find a “best fit” background check partner—one that can help you create a best-in-class hiring process for your small business in minutes, not days.

First Advantage can help. Through a quick and easy small business background checks solution, you can save valuable time and build your team fast. You get the report data you need to make informed decisions, as well as a partner that understands what really matters to your small business—confidence in hiring. With our reasonable plans, you don’t have to break the bank for a dependable, comprehensive, and compliant background check service for your small business.

• Hospitalisation Policy: Only hospitalisation costs are covered; The individual bears other costs.
• Critical Illness Policy: A set of predetermined critical illnesses are specified in the policy. On the diagnosis of such illnesses, a lump sum amount is provided.
• Family floater Plan: Insured and the family members are covered under one policy. The insurer provides a fixed insured amount for all the members.

The Importance of Health Insurance

Due to daily stress and hectic lifestyles, health has truly become a wealth that people are looking to protect. At the same time, one of the sectors which are undergoing steady inflation is the health care sector. Instead of paying hefty bills once you are afflicted with a disease and hospitalised, you can pay a small premium to obtain an insured amount. This will also ensure that you lead a stress-free life.

Eligibility

In the case of adults, any individual between the age of 18 to 65 years is eligible to obtain a health insurance policy. In the case of children, eligibility is between 90 days to 18 years. Do note that the amount of premium increases significantly as the insured grows older. So, it is always recommended that the policy is purchased at the earliest.

The Tax Benefits of Health Insurance

Section 80 of the Income Tax Act provides a host of tax benefits for a health insurance plan:

• In case of paying premium for self or family, a tax deduction of INR 25,000 can be made. Additionally, a premium paid in case of parents who are below 60 years of age is eligible for a deduction of INR 25,000. In the case of parents or family members above the age of 60 years, an amount of INR 50,000 is eligible for a tax deduction.
• Insurance policies in case of Hindu Undivided Family (HUFs) provide a tax deduction of INR 25,000, where, the premium is paid for the health insurance of one of the members of the HUF.
• If you incur any expenses towards a preventive health check-up, you are eligible for a tax deduction of INR 5,000, which is part of the overall limit of INR 25,000.

FAQs

1. In the event you already suffer from a medical condition, are you eligible to obtain a health insurance policy?
2. How soon are you allowed to file a claim under a health insurance policy?
3. Can you have multiple health insurance policies? How can you claim in case of multiple policies?

Many times the only reason why companies fail is that of fraudulent activities that are conducted within the organization by its employees. Hardly anyone starts a corrupt company with the mindset of looting people, but eventually, money begins driving the companies. Once money comes into play, people get off track and start devising fraud plans that would pool in the money from other people in their own pockets.

Fraud Investigation can be conducted within a company on its employees or with a competitor’s company. There are many ways to conduct a fraud investigation but we tend to focus on the best one that results in an end result for our clients.

What is a Fraud Investigation?

Fraud Investigation is the conduct of an investigation on a person or an organization to check if they are doing any fraud activities that could cause a potential damage or harm.

These investigations are common in corporate sectors where companies follow illicit protocols and ways to earn a profit and drive customers. Often these companies take their client’s money and run away.

In India, this is an extremely common scenario where some companies take advantage of the lack of education of people in the rural areas and take their money in the name of security and insurances. These companies make fake promises that they would double your money in 2 weeks or 2 months and then when you go to them after the specified duration, they are no where to be seen.

• Fraud investigation has saved hundreds of people and companies from facing severe loss.
• Major fraud activities including money are resolved through fraud investigations.
• All India Detective specializes in corporate investigations including fraud investigation.
• You can check your competitor’s business procedures with a fraud investigation.
• Run a fraud investigation on one of your suspected employees.

These are some of the things that a fraud investigation can help you with. An investigation conducted properly under the guidance of an experienced detective turns out to be fruitful for the victim.

Need of conducting a Fraud Investigation

A Fraud Investigation can be conducted on individuals as well as a complete organization.

If you are a company facing an unexpected loss in its sales, you need to conduct a fraud investigation. There can be two possible outcomes of this scenario:

First, either some of your internal employees are shifting data from your company to another and driving away the sales.

Second, a competitor company is spreading bad things about your company making your reputation weak.

If you are in the stage of hiring employees and want to run a check on whether or not your new recruits have given you the correct information about themselves, you can go for fraud investigation. Also, you could verify the data that they give you like previous job experiences, previous salary, college details, etc. These details are of extreme importance and will protect you from any fraud employees who later on tend to harm your company.

If you are an individual who wants to expose a company, you can opt for our services for fraud investigation where in we will give you the inside data of the suspected company. We can give you information about a company’s legal status, their employees, their previous works and sales, market value and if they are good or bad for you.

How Fraud Investigations are conducted?

Fraud investigations are conducted in a proper manner with the help of skilled detectives in this particular field. We at All India Detective have qualified and skilled investigators that plan and execute on multiple investigations. We focus on every single case that we get form our clients.

• Fraud investigations take time as it is not easy to discover the truth about a company or an individual within a day or two.
• A proper set up is made for the subject to believe that it is an actual business deal.
• Our undercover agents try and talk them out of how their company works.
• We even observe how the subject usually reacts to bribery.
• We record every data about the subject including videos and audios, both.
• The phone calls made to the subject are tapped and can be heard during the investigation and once the investigation is completed we provide our clients with all these proofs.
• Proper proofs and documentation are made which can help our clients in a legal suit case as well.

An investigation should be conducted properly, once the raw data has been taken in from the client, we chalk out a rough blueprint about how we want to conduct a specific investigation. After having a plan in place, we select the undercover agents who will be working under a case, and then set up our technical gadgets like lapel mics, video recorders, and cameras.

The case journey of a Fraud Investigation

When we deal with companies we know how to make them believe in our undercover agents. Corporate people are smart and not everyone can fool them, they work in a diverse environment with hundreds and thousands of people because of which they gain a lot of experience.

This experience can be used wisely as well as viciously, and some people tend to choose the latter. Our detectives come from various backgrounds like business management jobs and legal firms which makes them an expert in dealing with such investigations.

Before approaching the subject, we make sure we have a fake but a real looking company from our end so that we can gain the subject’s trust. We make sure our papers are in place and our social media platforms are active.

Our private detectives create an end to end business deal to lure the targeted company, after that we fix a meeting and let them know how much we want to work with them considering they have such a good reputation. A little push in the beginning helps us make them believe that we come from a corporate background.

This is how we plan for a fraud investigation and expose the target. It can be an individual as well as a company. If you think that you could be a victim of a fraud company or a person, you can book a case with us right away and we would come to your rescue.

#Importance of Identity background check:-

In the present digital scenario ID proofs have become crucial for accessing services be it private or government. Using the details of Id, forgers and hackers can assume someone else’s identity and ruin the life and career of the concerned person. This clearly shows the importance of identity checks in the background verification process.

#Process to verify someone’s identity:-

Identity checks of the person can be carried out by validating the govt provided IDs like Aadhaar card, PAN card, Ration card, Passport, etc. Details like Name, address, and age are available on the govt record which can be cross verified from these records. This process immensely helps the hiring team of companies to verify the identity of aspiring candidates for jobs. Some processes for the verification of the ID are described below:-
1. Online verification:-
This method involves determining government-issued IDs belonging to the person who is applying for the job. This method is performed by users by providing their picture holding a govt ID.

2. Credit Bureau based method:-
This method involves retrieving information on the credit score of the person from the credit bureau as these bureaus have large databases of consumers including their names, addresses, and ID information like Aadhaar cards and PAN cards.

3. Database methods:-
This method involves retrieving data from various sources like social media as well as offline databases. This method however may not be effective sometimes because many false online profiles can easily be created by the individual

4. Two-factor authentication:-
This method requires users to provide a token in addition to a username and password. This token must be memorized by the candidate. It helps in creating a strong deterrence for fraudulent activity. This two-factor authentication is particularly useful while creating accounts and resetting passwords.

5. Knowledge-based authentication:-
This method requires that a person must know the answer to his security question which is known only to him. One additional safeguard that can be added to this verification is the requirement of providing an answer within the specified time frame. The main disadvantage of this method is the easy retrieval of answers via social media networking and another social engineering process.
#Case studies related to the ID fraud:-

#1 Case study:-. Recently the Nagaon police arrested a person with possession of several fake Aadhaar cards, PAN cards, SIM cards along with several electronic items. The person is accused of having fake IDs and informed the police that he created many online accounts on TATA Neu and received a credit limit of up to Rs 1.5 lakh per Aadhaar card and SIM number. From this money, he ordered various electronic items and received them via parcel. This news clearly demonstrates that easy forging of identity and its misuse can take place if not reported or checked by authorities. News source – ‘Northeast now’ Dated – April 24, 2022

#2 Case study:- Chandigarh police recently arrested two people impersonating police officers having fake IDs and all relevant documents. They were impersonating the police officers of UP Police. One of them was a woman aged 25 years and another was a man aged 24 years. When police asked for their ID they showed the relevant document but they were found to be fake. News source – ‘Tribune news service’ Dated- April 22, 2022

Over 90 countries now require businesses to do a background verification and keep the record for several years with them. Looking at the increasing forgery of the IDs it should be the organization’s top priority before hiring them