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new account cheque for insurance claim

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21 Dec, 2021 by  Reshma Udasi

i have submitted a cheque giving details of my account no for the transfer of my life insurance maturity amount, the cheque leaf which was submitted has 'new account' printed on it, will i not receive mny claim because of it

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Term Life Insurance

2 Answer

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Hi Reshma,

The NEFT will be registered and maturity claim will be paid.

There is no such clause that cheque with 'new account' can't be used to receive maturity proceeds.

Only pre-requisite is that the cheque should have a pre printed name or should be accompanied by latest bank statement/passbook copy.


Gurleen Kaur Tikku

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22 Dec, 2021
CEO, Insurance Samadhan

Dear Reshma

Your policy must have a bank account details and maturity proceed will bevsent to your registered account only .

If you do not want credit in your registered account or you have closed the account then you must apply for change of bank account by submitting a request letter alongwith cancelled cheque having your printed name or your pass book with an entry in last 90 days .

Once change of bank account is done , then your maturity proceeds will be transferred .

Hope this clarifies

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