What a policy actually pays and what it quietly does not — premiums, exclusions and the comparisons the brochure leaves out.
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About one claim in twelve is refused, and the regulator doesn’t record why. What the Ombudsman’s own figures show, why “disallowed” money outweighs outright rejections, and the clauses insurers rely on, with a worked room-rent deduction.
Answers inside
The nominee collects the money. In most cases they don’t get to keep it. How bank deposits, lockers, mutual funds, insurance, EPF, loans and tax are handled after a death, under the 2025 RBI and SEBI rules, with a worked example for one family.
A repudiation letter is written to sound final. It isn’t. The written complaint that starts the clock, what Bima Bharosa can and can’t do, and the free Ombudsman route whose award binds the insurer.
One line on your payslip funds a savings pot, a pension and a life insurance policy you pay nothing for. The rules, the formulas and the arithmetic: including the ₹7 lakh death benefit most families never claim.
Figures come from the organisation that published them — the regulator, the bank’s own rate card, the filing, the Act. Where a number could not be verified, the guide says so instead of estimating.
Worked examples are calculated, not illustrated, and every table states the assumptions behind it so you can redo the sum with your own numbers.
Each guide carries the date it was last checked rather than the date it first appeared, and corrections are published on the guide itself.
