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What are Unclaimed Life Insurance Funds?

Unclaimed life insurance funds refer to the proceeds of life insurance policies - death benefits or survival benefits not claimed by the beneficiary or the policyholder. When a life insurance policy matures, or the insured meets with an unexpected death, the policyholder, or the beneficiaries are entitled to receive the applicable benefits stated in the policy.

However, if the benefits are left unclaimed for reasons such as the beneficiaries not being aware of the existence of the policy, missing or outdated information related to the policy, etc., the unclaimed funds will remain with the insurance provider until the rightful beneficiaries or policyholders come forward to initiate the claim. 

Why do Life Insurance Funds Go Unclaimed?

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    Lack of Awareness

    The policyholder may not have communicated the existence of the life insurance policy to the beneficiaries. Therefore, the beneficiaries who are unaware of the existence of the life insurance policy fail to take the necessary actions to claim the life insurance policy proceeds.

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    Missing or Outdated Information

    It is very important that policyholders keep their contact details (mobile number, email id and address) and bank details updated with the insurer, so that they are aware of the various events and latest updates in the policy and also receive any payments on time through direct credit to their accounts. If the policyholder has not updated the beneficiaries' contact details, the insurer will find it difficult to trace and identify the rightful beneficiaries. 

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    Forgotten Policies

    If a policyholder has purchased multiple life insurance policies, and they purchased a life insurance policy several years ago or with a relatively lesser sum assured, they might have forgotten about its existence, thus failing to claim the applicable benefits.

  • KYC Updations

    If the policyholder or the beneficiary fails to provide the KYC, required documents or bank details, the benefits remain unclaimed.

How Does an Amount Get Parked as Unclaimed Funds?

During all customer interactions and the process of releasing payments to customers, all attempts are made to reach out to them and collect their bank details so that the beneficiary receives the entitled sum assured. 

Wherever the bank details are unavailable, payments are made through cheques dispatched to their address registered with us.

If the cheques/payouts due are not cleared after 12 months from the liability creation date, such payouts move into the Unclaimed Fund. 

If a cheque reissued from Unclaimed Fund is not encashed, it is moved to Unclaimed Fund post 90 days. 

Also, cases wherein the payouts are not settled (for example, pension policies wherein the policyholder has not submitted the Discharge Voucher or confirmed the vesting and commutation amount), are moved to unclaimed funds post 6 months from the original liability date.


How To Check for Unclaimed Life Insurance Funds with Tata AIA?

Policyholders, beneficiaries, or any other related individuals who identify the probability that they are entitled to unclaimed life insurance funds from Tata AIA Life Insurance can take the following steps to check for unclaimed life insurance funds:

  • Contact Us Directly - Provide the necessary details to inquire about any unclaimed life insurance funds by contacting us directly over our customer service touchpoints.

  • Visit Us -  Visit any of our nearest branch offices and contact our customer support to retrieve the details of any unclaimed funds.

  • Consult Financial Advisors - Consult our financial advisors for assistance in finding and claiming the funds. 

How To Claim for Unclaimed Funds with Tata AIA Life Insurance?

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  • Navigate to our Tata AIA Life Insurance Unclaimed Funds page.
  • Choose between the Individual Policy and the Group Policy, whichever is applicable.
  • For the unclaimed amount search provide the required details such as Name of the policy holder & Date of birth which is mandatory and any one for the optional which is Permanent Account Number (PAN) or Policy Number.
  • To claim unclaimed life insurance funds, bank details have to be updated for the life insurance policy.

Policyholders or beneficiaries can initiate the claim process for the unclaimed funds offline by visiting our nearest branch or even over a call. They can update the bank details and claim the payout.

Touchpoints for Customers to Update NEFT and Claim the Payout

  • Visit the nearest branch and submit the documents required to update NEFT details.
  • Visit our official web portal for updating NEFT -
  • Share the required documents to update NEFT through the customer service Email ID -
  • Call the contact centre for assistance in updating NEFT details - 1-860-266-9966 (within India) and 022-6251-9966 (for NRIs)
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    For Indian Residents

    Mon - Sat | 10 am - 7 pm IST
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    022 6251 9966

    Dedicated NRI Helpdesk

    Mon - Sat | 10 am - 7 pm IST
    Call charges apply

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Documents Required for Claiming the Unclaimed Funds

Indian Residents Non-Resident Indians

For Indian residents, the following documents need to be submitted:

  • Self-Attested Bank Proof

  • Self-Attested KYC Document
    (ID and Address Proof)

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For Non-Resident Indians (NRIs), the following documents are required in addition to those mentioned above:

  • FATCA Form

  • Foreign Address Proof 
    (The same should match with the address updated in the FATCA form)

  • TIN Proof 
    (The same should match with the TIN No. in FATCA form)

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Tips For Preventing Unclaimed Life Insurance Funds

Inform the beneficiaries regarding the existence of the life insurance policies.

Share the life insurance policy details with the beneficiaries.

Keep the life insurance policy documents accessible.

Use electronic records to secure the life insurance policy details.

Update beneficiary details after major life events and keep them informed.

Share the life insurance policy details with a trusted family member.

Contact Us

  • whatsapp




    For application & policy-related queries

  • Call


    For Indian Residents

    Mon - Sat | 10 am - 7 pm IST
    Call charges apply

  • call


    022 6251 9966

    Dedicated NRI Helpdesk

    Mon - Sat | 10 am - 7 pm IST
    Call charges apply

  • mail

    For application & policy-related queries

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Frequently Asked Questions About Unclaimed Funds

Can I claim unclaimed funds on behalf of a deceased family member?

You can claim the unclaimed funds of a deceased family member if you are the rightful beneficiary by providing the necessary details.

What life insurance benefits qualify for unclaimed funds?

Unclaimed funds can include the death payout and other survival benefits such as guaranteed returns from a savings insurance policy, market-linked returns from a ULIP policy, return of premium benefit, etc., or any such similar funds payable to the rightful beneficiaries or policyholders and, however, left unclaimed for 12 months from the due date of settlement. 

Can I claim the unclaimed funds from another country?

NRIs can claim the unclaimed funds from their country of residence if they are the rightful beneficiaries by following the necessary process subject to the terms and conditions.

Is there a time limit to claim unclaimed funds in India?

The unclaimed funds will remain with the insurer for up to 10 years, and if it is still left unclaimed, it will be transferred to the Senior Citizen Welfare Fund. The rightful beneficiaries can claim the funds even if it is transferred to SCWF for up to 25 years. However, if it is left unclaimed after 25 years, it will be reverted to the Central Government.

Can unclaimed life insurance funds in India be claimed by creditors or debtors of the deceased policyholder?

Unclaimed life insurance funds can only be claimed by the policyholders or the rightful beneficiaries.


  • Insurance cover is available under the product.
  • The products are underwritten by Tata AIA Life Insurance Company Ltd.
  • The plans are not a guaranteed issuance plan, and it will be subject to Company’s underwriting and acceptance.
  • For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.
  • Every effort is made to ensure that all information contained in this document is accurate at the date of publication, however, the Tata AIA Life shall not have any liability for any damages of any kind (including but not limited to errors and omissions) whatsoever relating to this material.
  • L&C/Advt/2024/Jun/1759