₹25,000 Crore Unclaimed Insurance: How to Check and Claim Your Money

Finance influencer Monica Malik sheds light on a shocking fact, over ₹25,000 crore lies unclaimed in insurance policies across India. This massive amount belongs to policyholders who either forgot about their investments or whose nominees are unaware of the benefits. Could a part of this sum be yours?

Why Does This Happen?

Many individuals purchase life insurance or investment-linked policies but fail to inform their family members. In some cases, policyholders themselves lose track of old policies due to job changes, relocations, or lack of documentation. As a result, when the insured passes away, the money remains with the insurance companies, unclaimed for years.

How to Check If You Have Unclaimed Funds:

The Insurance Regulatory and Development Authority of India (IRDAI) has made it easier to track unclaimed amounts. Here's the process:

Visit the IRDAI Website: Navigate to the “Unclaimed Amounts” section.
Enter Basic Details: Provide your name, date of birth, and PAN or policy number.
Check Across Insurers: The portal scans multiple insurance companies to identify any pending claims linked to your details.
Claim the Amount: If a match is found, you can initiate the claim process by submitting KYC documents and proof of policy ownership.

Why You Should Act Now:

Leaving these funds unclaimed means losing money that rightfully belongs to you or your family. With rising inflation and financial uncertainty, every rupee counts. Taking a few minutes to check could uncover forgotten wealth that strengthens your financial security.

Monica Malik emphasizes that financial awareness is key. Inform your nominees about your policies and keep records updated. And if you suspect you might have an old policy, don't wait, visit the IRDAI portal today. That ₹25,000 crore pool might just have your name on it!

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