1. REQUIREMENT

2. Types Of Requirements:
Sr No
Requirement Types 1
PAN CARD FOR OWNER/PAYER 24
KYC ADD address not valid 2
Joint Declaration Form 25
KYC Address Proof 3
ECS Mandate form 26
KYC Address Proof For Payer 4
Confirmation of Owner 27
KYC Identification Proof 5
Credit Card Authorization Form 28
KYC Identification Proof For Payer 6
Credit Card Copy 29
KYC INCM name in proof mismatches 7
NEFT client consent and proof 30
KYC INCM submitted doc old then 6 month 8
Employee ID Card 31
KYC INCM submitted proof not valid 9
Employers Undertaking 32
KYC Income Proof 10
Fresh Illustration required 33
KYC Income Proof For Payer 11
Illustration not submitted 34
Letter confirming Base Plan Face Amount 12
Illustration required - Benefit period 35
Letter confirming Base Plan Type 13
Illustration required - Decl not signed 36
Letter confirming Rider type 14
Illustration required - DOB mismatch 37
Letter confirming Benefit Period 15
Illustration required - Fund details 38
Letter confirming Mode of premium 16
Illustration required - Gender details 39
Letter confirming Payment Period 17
Illustration required - not submitted 40
Letter confirming Waiver of premium 18
Illustration required - Paying period 41
No Fund Details on Application 19
Illustration required – Plan 42
Original cancelled cheque required 20
Illustration required – SA 43
Customer/advisor cont. details required 21
Key person details-Company-Partnership-HUF 44
Photograph 22
KYC ID Identification not valid 45
Salary Deduction Form 23
KYC ADD address in Proof Mismatches

3. Initial Requirement Verification Process/Filtration Process
1.1 Background:
Requirement filtration is pre-issuance process where all CS requirements raised need to be verified for the before it is raised.
1.2 Purpose:
Filtration activity is very crucial as only those requirements need to be called for/ordered where the application is incompletely logged in. So each & every requirements needed to be thoroughly verified and decision needed be taken accordingly.

4. Requirement
The requirement is generated when the address is incompletely filled in the application form.
Verify the detailed address on the application form.
Verify whether the details such as State, City and Pin code is available on application.
If available then don’t raise the requirement
The requirement is generated if payment method is selected as Credit Card and Credit Card Authorization Form is not submitted.
Verify if the method ticked as ‘Credit Card’ and whether credit card authorization form has been submitted or not.
If available, then verify the following details with Authorization form
Payment made for – Initial , Renewal or Initial & Renewal
Card expiry Date
Policy holders signature
If all the details are matching then update the banking details, don’t raise the requirement
The requirement is generated when the Proposer Relationship is blank, incomplete or details are strikeout without counter signing.
Verify the Proposer Details section of the application form.
If it is strikeout and countersigned then cancel the requirement.
Verify the Relationship with the life insured, if valid relationship is mentioned then don’t raise the requirement
The requirement is generated when the payment method selected as ECS and Mandate Form is not submitted
Verify if the Mandate Form is submitted.
If available, then verify the following details with Cancelled Cheque
Bank Number
Branch Number
Account ID
Account Holder Name
Account Type
Cheque from account is MICR encoded
If all the details are matching then update the banking details then don’t raise the requirement
The requirement is created where there is no PAN card submitted for
Annual Premium INR or Above.
Check to see the annual premium in the illustration for the amount.
If Pan Details are provided then check the NSDL website to validate PAN number.
If the PAN Matches with the customer details update the same and close Requirement created.
Requirement raised for –PAN CARD FOR OWNER/PAYER
Requirement raised for -‘Confirmation of Owner’
Requirement raised for – ‘Complete Mailing Address’
Requirement raised for – ‘ECS Mandate Form’
The verification is done from NSDL website. Automation is not built in.
Requirement raised for – ‘Credit Card Authorization Form’

5. Requirement raised for – ‘Credit Card Copy’
The requirement is raised when the Gender detail mismatch with application and illustration.
Verify the gender specified in application and illustration.
Verify the correct gender reviewing the supporting documents.
If the gender details matches with age proof and is correctly specified then don’t raise the requirement.
The requirement is generated if payment method is selected as Salary Deduction and the Salary Deduction form is not submitted.
Verify if the method ticked as ‘Direct Bill-Monthly mode’ and whether Salary deduction form is submitted or not. If not submitted raise requirement.
If available, then verify the following details.
Employee signature.
Employee code. If not available, then ‘NA’ should be mentioned on the SD form with counter signed by the client.
Employer name.
If all the details are matching then don’t raise the requirement
Please note that Salary deduction scheme is not available for BSLI employees.
The requirement is generated if payment Method is selected as Salary Deduction and the Employer Undertaking Form is not submitted
Verify if the method ticked as ‘Direct Bill-Monthly mode’ and whether original employer undertaking submitted or not. Please note that the undertaking to be verified in original/physical at Branch / Vendor front office level at their end.
If available, then verify the following details.
Employer’s signature with company’s stamp.
Three id’s with contact no.
Note Salary deduction scheme is not available for BSLI employees.
The requirement is raised when the DOB mismatch with application/Age proof and illustration.
Verify the DOB specified in the application, on age proof and age mentioned on the illustration.
If the age matches then don’t raise the requirement
The requirement is generated if payment method is selected as Credit card and the copy of credit card is not submitted.
Verify if the method ticked as ‘Credit Card’ & whether credit card copy submitted or not.
If available, then verify the following details of credit card with Authorization form
Card expiry Date
Policy holders signature
Account Holders name
If all the details are matching then update the banking details then don’t raise the requirement.
Requirement raised for – Employers Undertaking’
Requirement raised for – Salary Deduction Form’
Requirement raised for – Illustration required - DOB Mismatch
Requirement raised for – Illustration required - Gender Details

6. Requirement raised for – Illustration required – Benefit Period /Paying Period
The requirement is raised when the illustration is not signed.
Verify the illustration and the signature available on the illustration.
If the signature on illustration & application form is matched, then cancel/don’t raise the requirement.
If the illustration declaration is not signed / mismatches with application then requirement of “illustration required – decl not signed” is raised
The requirement is raised when the plan details mentioned on application and illustration mismatches.
Verify the Plan details mentioned in application and illustration.
The requirement is raised when the Sum Assured mismatch with application and illustration.
Verify the Sum Assured mentioned in the application and illustration.
The requirement to be raised if Premium paying period mentioned on the application is different as specified in illustration.
Verify the paying period detail mentioned in the application and illustration.
Verify if the mentioned Premium paying period is applicable to the plan.
Requirement raised for – Illustration required - Plan
Requirement raised for – Illustration required – SA
Requirement raised for – Illustration required - Decl not signed

7. Requirement raised for – Illustration required - Fund details
The requirement is raised if the Identification proof of the policy owner is not submitted.
Verify if the identification proof of the policy owner is submitted along with the Application -If available then don’t raise the requirement.
Once the Insurer’s Employee Certificate is submitted it will be valid for the policy in which it is submitted and also for the subsequent policies of the same client.
The document must be self-attested by policy owner, If not raise the requirement.
The requirement is raised when the submitted proof is not listed in the AML list.
Verify the KYC identification proof document submitted along with the application.
Verify that the submitted documents are available in the AML approved document list.
If valid then don’t raise the requirement.
The document must be self-attested by policy owner.
The requirement is raised when the Illustration is not submitted.
Verify if the illustration is submitted or not.
If illustration is available then don’t raise the requirement.
The requirement is raised If Fund details mismatch with application and illustration.
Verify the funds mentioned in the application and illustration.
Requirement raised for – Illustration required - not submitted
Requirement raised for – KYC ID Identification Not of proposer
Requirement raised for – – KYC ID Identification Proof not Valid/ KYC ID name in Proof Mismatches

8. Requirement raised for – KYC ID name in Proof Mismatches
The requirement is raised if the address proof is not valid
Verify the premium of the client considering the policy of client with BSLI, if the premium exceeds Rs.10,000 then only the requirement of KYC Address proof is required.
Verify the KYC address proof submitted is valid as per the AML approved document list and it should be readable.
If the address matches then don’t raise the requirement.
The document must be self-attested by policy owner.
KYC ADD address Proof not of proposer
KYC ADD address in Proof Mismatches
KYC ADD address not translated- The requirement is to be raised if the submitted proof is in vernacular language (Other than English or Hindi) and the docs are not attested by the BSLI authorized personnel.
KYC ADD address not valid (The requirement is raised if the submitted address proof is not legible.)
KYC ADD name in Proof Mismatches (The requirement is raised when the name mismatch with application and submitted address proof )
KYC Address Proof (The requirement is raised when the policy owner address proof is not submitted and the Premium is more than Rs )
Verify the annualized premium of the client considering all the policy of client with BSLI, if the premium exceeds Rs.10,000 then only the requirement of KYC Address proof is required.
Verify the KYC Address Proof document submitted is of policy owner or not.
If document submitted is of policy owner then verify if the submitted documents are available in the AML approved document list.
If valid then don’t raise the requirement.
The document must be self-attested by policy owner
The requirement is raised if the address proof is submitted as rent receipt.
Verify the annualized premium of the client considering all the policy of client with BSLI, if the premium exceeds 10,000 then only the requirement of KYC Address proof is required.
The requirement is raised if identification Proof of the proposer is not submitted.
Verify if the KYC identification proof document is submitted or not along with the application.
If submitted then verify if the submitted documents are available in the AML approved document list.
If valid then don’t raise the requirement.
The document must be self-attested by policy owner.
The requirement is raised if name mention on the application form is not same as the name mentioned on the identification proof.
Verify the KYC identification proof document submitted along with the application.
Verify the submitted documents are available in the AML approved document list.
If valid then don’t raise the requirement.
The document must be self-attested by policy owner.
Requirement raised for – KYC Identification Proof
Requirement raised for-
Requirement is raised for – KYC ADD rent receipt Required
Requirement raised for – KYC ADD address not valid

9. Requirement raised for- KYC INCM bank statement not Authorized
The requirement is raised when the income proof submitted is bank statement and Salary slip.
Verify the annualized premium of the client considering all the policy of client with BSLI, if the premium exceeds Rs.1,00,000 then only the requirement of KYC Income proof is required.
Verify the bank statement submitted and it should be on the letter head of the bank of signed and stamped by the bank.
Verify the Salary slip submitted and it should self-attested by client, be signed and stamped by authority.
Bank statement can be considered as valid proof only if the transaction details of the bank statement is not more than 6 Months older.
After verification of the bank statement and if still the requirement cannot be cleared then income proof needs to be checked with previous policy, if submitted.
The document must be self-attested by policy owner.
The requirement is raised when the details mentioned on the KYC INCM does not match with Income mentioned on the application.
Verify the annualized premium of the client considering all the policy of client with BSLI, if the premium exceeds Rs.1,00,000 then only the requirement of KYC INCM proof is required.
Verify the KYC Income proof submitted is valid as per valid list and compare the Income proof with the application.
If the name matches then don’t raise the requirement.
The document must be self-attested by policy owner.
The requirement is raised when the submitted income proof is not listed in the AML guidelines.
Verify the annualized premium of the client considering all the policy of client with BSLI, if the premium exceeds Rs.1, 00,000 then only the requirement of KYC Income proof is required.
Verify the document submitted is approved as per the AML guidelines.
If the document is approved and self-attested, then verify all the validity of document. If all checks are cleared and the document is valid then don’t raise the requirement.
After verification of the submitted documents if still the requirement cannot be cleared then income proof needs to be checked with previous policy, if submitted.
The document must be self-attested by policy owner.
The requirement is raised when the income proof is not submitted of the policy owner.
Verify the annualized premium of the client considering all the policy of client with BSLI, if the premium exceeds Rs.1,00,000 then only the requirement of KYC Income proof is required.
Verify the submitted document is in the name of the policy owner and it is acceptable as the document criteria.
After verification of the submitted document if the requirement cannot be cleared then income proof needs to be checked with previous policy, if submitted.
The document must be self-attested by policy owner.
The requirement is raised when the income proof submitted is bank statement and it is not signed or sealed by bank stamp.
Verify the premium of the client with BSLI, if the premium exceeds Rs.1,00,000 then only the requirement of KYC Income proof is required.
Verify the bank statement submitted and it should be on the letter head of the bank of signed and stamped by the bank.
Bank statement can be considered as valid proof only if the transaction details of the bank statement is not more than six months older.
After verification of the bank statement and if still the requirement cannot be cleared then income proof needs to be checked with previous policy, if submitted.
The document must be self-attested by policy owner.
Requirement raised for – KYC INCM submitted proof not of proposer
Requirement raised for- KYC Income Proof
Requirement raised for- KYC INCM submitted doc old then 6 month
Requirement raised for - KYC INCM name in proof mismatches

10. Verify if the KYC address proof is submitted or not.
Requirement raised for - KYC INCM submitted proof not valid
The requirement is raised when the Benefit Period is not specified in the application form or details mentioned in the application and illustration does not match.
Verify the application form and check if the benefit period is specified or not.
If benefit period is specified and applicable to plan then match the details between application and illustration.
If the Benefit Period details are not specified in the application, or not applicable to plan, or the details mentioned in the application and illustration does not match then requirement has to be raised.
The requirement is raised when the Rider Type Detail is not specified in Application form or if the Rider type details mismatch between application and illustration.
Verify the application form and check if the Rider details are specified or not.
If the rider details are specified and applicable to plan then match the details between application and illustration.
If the rider details are not specified in the application, or not applicable to plan, or the details mentioned in the application and illustration does not match then requirement has to be raised.
The requirement is raised when the Address Proof of “Payor” of the policy is not submitted.
Verify the annualized premium of the client considering all the policy of client with BSLI, if the premium exceeds Rs.10,000 then only the requirement of KYC Address proof is required.
Verify if the KYC address proof is submitted or not.
If the valid address proof with the name of the Payor of the policy is submitted then the requirement need not be raised.
Search previous policy (if submitted) then don’t raise the requirement.
The document must be self-attested by policy owner.
The requirement is raised when the Income Proof of “Payor” of the policy is not submitted.
Verify the premium of the client with BSLI, if the premium exceeds Rs.1,00,000 then only the requirement of KYC Income proof is required.
Verify if valid income proof in the name of Payor of the policy is submitted or not.
After verification of the submitted document if the requirement cannot be cleared then income proof needs to be checked with previous policy, if submitted.
Verify all the previous policy of the client and search for income proof, if available with the previous policy (if submitted) then don’t raise the requirement.
The document must be self-attested by policy owner.
The requirement is raised when the Face Amount/Plan Type is not mentioned in the application form.
Verify the application form and check if the Base Plan Face amount/ Plan Type is specified or not.
If the Face amount/ Plan Type is specified and applicable to plan then match the details between application and illustration.
If the Base Plan Face amount / Plan Type is not specified in the application, or not applicable to plan, or the details mentioned in the application and illustration does not match, raise the requirement.
The requirement is raised when the Identification Proof of “Payor” of the policy is not submitted.
Verify if the KYC identification proof document is submitted or not along with the application.
If submitted then verify if the submitted documents are available in the AML approved document list and in the name of the Payor of the policy.
Verify all the previous policy of the client, if submitted and search for policy owner identification proof, if available with the previous policy then don’t raise the requirement.
The document must be self-attested by policy owner.
The requirement is raised if the Income proof is not Valid.
Verify the annualized premium of the client considering all the policy of client with BSLI, if the premium exceeds Rs.10,0000 then only the requirement of KYC Income proof is required.
Verify the KYC Income proof submitted is valid and it should be readable.
If the Income proof matches then don’t raise the requirement.
Verify all the previous policy of the client and search for income proof, check validity as per (KYC annexure) income proof is valid from previous policy (if submitted) if the policy is logged within 1 year from the Branch receipt date, if available with the previous policy then don’t raise the requirement.
The document must be self-attested by policy owner.
Requirement raised for – KYC Identification Proof for Payor
Requirement raised for - KYC Address Proof For Payor
Requirement raised for – KYC Income Proof For Payor
Requirement raised for – Letter confirming - Base Plan Face Amount/ Plan Type
Requirement raised for – Letter confirming - Rider type
Requirement raised for – Letter confirming – Benefit Period

11. The requirement is raised if the Nominee is a Minor.
Requirement raised for – Letter confirming - Mode of premium
The requirement is raised if the Nominee is a Minor.
Verify the application form and check if the “Nominee details” is specified or not.
In case of Nominee is Minor, then Appointee details required. If appointee details are not mentioned, requirement has to be raised.
If the “Nominee details” is not specified in the application, if the details mentioned on application are incomplete then requirement has to be raised.
The requirement is raised when the Payor of policy is different than the owner of the policy and valid relationship cannot be established.
Verify the owner and payor of the policy.
Search for the valid relationship on basis of data filled in application and supporting documents submitted.
If valid relationship can be related, then don’t raise the requirement.
If unable to identify, raise a requirement.
The requirement is raised when the “Rider Face Amount” is not specified in the application. Or when the Rider Face Amount detail mismatch between application and illustration.
Verify the application form and check if the “Rider Face Amount” is specified or not.
If “Rider Face Amount” is specified and applicable to plan then match the details between application and illustration.
If the “Rider Face Amount” is not specified in the application, or not applicable to plan, or the details mentioned in the application and illustration does not match then requirement has to be raised.
The requirement is raised when “Mode of Payment” & “Payment Method” is not mentioned on the application or when the mode selected in the application form does not match with the submitted documents.
Verify the application form and check if the “Mode of Payment” and “Payment Method” is specified or not.
If the details are specified then verify the supporting documents submitted.
If the client have opted for “Direct Bill” and “ECS documents I,e ECS mandate form / cancelled cheque copy” are submitted then the requirement to be raised as we require the confirmation from client regarding the mode of payment needed.
After verification of above steps, if the client have submitted/mentioned the desired details then don’t raise the requirement.
If the details are not specified or supporting documents does not match with mode selected then raise a requirement.
If the client have opted for Direct bill or any option in payment mode (Except credit card) as payment method, and the Credit card documents are submitted with the application then requirement of ‘letter confirming mode of premium’ is to be raised.
credit card authorization forms with ticked as Initial premium is submitted only for initial premium and not for renewal hence don’t raise the requirement of ‘Letter confirming mode of premium’. But its needs to be checked that Method and Mode is properly opted and credit card authorization form is submitted only with the tick on initial premium.
The requirement is raised when the “Fund Option Details” are not specified in the application form.
Verify the application form and check if the “Fund detail along with allocation” is specified or not.
If Specified the following criteria should be taken care of:
If fund are specified in application then it should be applicable to the plan.
The allocation of the funds should be 100%, subjective that allocation is applicable which will be plan based.
Funds specified in the application should match the illustration and in case of multiple funds all the fund should match with the illustration as per allocation percentage.
Example supporting the above point:
In application following details are available - Enhancer - 50% / Maximiser- 50% & In illustration following are the details - Enhancer - 100%, In such scenarios requirement needs to be raised.
If the funds are not available, not applicable to plan, or details specified cannot be accepted then raise requirement
The requirement is raised when the Payment Period is not specified in the application form.
Verify the application form and check if the payment period is specified or not.
If payment period is specified and applicable to plan then match the details between application and illustration.
If the payment period is not specified in the application, or not applicable to plan, or the details mentioned in the application and illustration does not match then update then requirement has to be raised.
Requirement raised for – Letter confirming - Payment Period
Requirement raised for – Letter confirming – Rider Face amount
Requirement raised for – No Fund Details on Application
Requirement raised for –Owner and Payor different
Requirement raised for – Nominee is a minor

12. The requirement is raised if the Appointee relation not provided.
Requirement raised for – Appointee details not provided
The requirement is raised if the Appointee details not provided.
Verify the application form and check if the Nominee details provided are of a minor.
If so, Appointee details should be specified in application form.
If appointee details are not specified in application then raise a requirement.
If Appointee details are provided, then don’t raise the requirement.
If appointee DOB is not mentioned raise the requirement for appointee DOB.
The requirement is raised if the Appointee relation not provided.
Verify the application form and check if the “Appointee relation” is specified or not.
If appointee Relation is not specified in application then raise the requirement.
The requirement is raised if the Appointee sign not provided.
Verify the application form and check if the “Appointee Sign” is specified or not.
If Appointee Sign is not specified in application then requirement is raised
Requirement raised for– Appointee Relation with Proposer not provided
Requirement raised for - Appointee Signature not provided