As flood-hit Chennai sets out to regain normalcy, a part of this exercise will involve replacing lost belongings, which would include key financial documents that may have been destroyed.
Thanks to electronic modes of investing and buying policies, it is likely that many may not even need to get duplicate documents. However, those who have chosen the physical route will have to follow certain processes- applicable even in case loss due to any other cause too - to get all their documents back.
Mutual funds
The gradual digitization of the investment process over time has made the process of obtaining duplicates much simpler, particularly if you have mentioned your email ID in the application. You can visit the CAMS website and use mailback services option to get a consolidated statement of your holdings.
If not, you will have to call fund houses' toll-free numbers, cite your PAN and ask for the statement to be mailed to you. "Either way, there is no need to panic as their holdings are safe regardless of the possession of physical statements," says Srikanth Meenakshi, co-founder and COO, FundsIndia.com.
Life insurance
You will need to get in touch with your agent or insurer and submit a declaration on an indemnity bond, along with your photograph and identification proofs. The insurer will then re-issue the policy documents to you. However, most life insurers have eased this process for their Chennai customers, waiving off the declaration on indemnity bond.
"Only photo identity proof and a request letter from the customer, mentioning that he has lost or damaged her policy document during Chennai floods, will suffice," says Deepak Mittal, MD and CEO, Edelweiss Tokio Life Insurance.
Health insurance
If you know your policy number, you only have to contact the insurance company, quote this number and initiate the process for securing the policy document. Most insurers will, after authenticating your identity, mail across soft or physical copies of your policy documents to you.
"If the policy number is not available, the customer can share date of birth of any family member who is the policyholder or her registered mobile number or email ID to help us instantly retrieve the information," says Anika Agarwal, head, marketing at Max Bupa Health Insurance.
Home ownership and loan
The first step is to register a first information report (FIR) for the loss of title deeds as well as other property-related documents, put out public notices in newspapers and approach the registrar. "The registrar will always have copies of ownership documents. While the original documents cannot be replaced, they can always be recreated through this standard process," says Harshil Mehta, CEO of housing finance company DHFL. You will also have to seek your housing society's aid if you live in one.
"They should request a duplicate share certificate from the housing society by submitting the police FIR copy and a copy of the published notices along with a written undertaking as stipulated under the bye-laws of the society," says an HDFC spokesperson. You can then obtain certified or duplicate copies of registered title documents from the sub-registrar's office. Similarly , you have to intimate your lender about any loss of home loan agreement.
"It is a legal contract and will have to be drawn up again," adds Mehta.
Digitize for security
The easiest way of securing your documents and eliminating the hassles of obtaining duplicates is to take the electronic route wherever possible. "It is best to scan copies of all your documents and store them in your mailbox. You can easily access reference numbers to retrieve documents later. You can also store soft copies of your documents in the digital locker (digitallocker.gov.in) provided by the government," says Mehta of DHFL.
Thanks to electronic modes of investing and buying policies, it is likely that many may not even need to get duplicate documents. However, those who have chosen the physical route will have to follow certain processes- applicable even in case loss due to any other cause too - to get all their documents back.
Mutual funds
The gradual digitization of the investment process over time has made the process of obtaining duplicates much simpler, particularly if you have mentioned your email ID in the application. You can visit the CAMS website and use mailback services option to get a consolidated statement of your holdings.
If not, you will have to call fund houses' toll-free numbers, cite your PAN and ask for the statement to be mailed to you. "Either way, there is no need to panic as their holdings are safe regardless of the possession of physical statements," says Srikanth Meenakshi, co-founder and COO, FundsIndia.com.
Life insurance
You will need to get in touch with your agent or insurer and submit a declaration on an indemnity bond, along with your photograph and identification proofs. The insurer will then re-issue the policy documents to you. However, most life insurers have eased this process for their Chennai customers, waiving off the declaration on indemnity bond.
"Only photo identity proof and a request letter from the customer, mentioning that he has lost or damaged her policy document during Chennai floods, will suffice," says Deepak Mittal, MD and CEO, Edelweiss Tokio Life Insurance.
Health insurance
If you know your policy number, you only have to contact the insurance company, quote this number and initiate the process for securing the policy document. Most insurers will, after authenticating your identity, mail across soft or physical copies of your policy documents to you.
"If the policy number is not available, the customer can share date of birth of any family member who is the policyholder or her registered mobile number or email ID to help us instantly retrieve the information," says Anika Agarwal, head, marketing at Max Bupa Health Insurance.
Home ownership and loan
The first step is to register a first information report (FIR) for the loss of title deeds as well as other property-related documents, put out public notices in newspapers and approach the registrar. "The registrar will always have copies of ownership documents. While the original documents cannot be replaced, they can always be recreated through this standard process," says Harshil Mehta, CEO of housing finance company DHFL. You will also have to seek your housing society's aid if you live in one.
"They should request a duplicate share certificate from the housing society by submitting the police FIR copy and a copy of the published notices along with a written undertaking as stipulated under the bye-laws of the society," says an HDFC spokesperson. You can then obtain certified or duplicate copies of registered title documents from the sub-registrar's office. Similarly , you have to intimate your lender about any loss of home loan agreement.
"It is a legal contract and will have to be drawn up again," adds Mehta.
Digitize for security
The easiest way of securing your documents and eliminating the hassles of obtaining duplicates is to take the electronic route wherever possible. "It is best to scan copies of all your documents and store them in your mailbox. You can easily access reference numbers to retrieve documents later. You can also store soft copies of your documents in the digital locker (digitallocker.gov.in) provided by the government," says Mehta of DHFL.
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