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What is the meaning of Claim Amount?

Claim amount is the amount of money which is to be paid at the maturity of an insurance policy or in event of the death of the insured person. In latter case, the claim amount is given to the beneficiary or the nominee or even the legal heir of the insured person. The policyholder or […]

Who is a Beneficiary?

A beneficiary is a person who stands eligible for receiving benefits or distributions from a trust, will or insurance policies. He/she is either specifically named in these documents or are most eligible as per the speculations. The eligibility is determined either by the documents or the legal norms which will define a legal heir. The […]