What is a Claim? Claim[kleym]noun1.An insurance Claim is a policyholder’s request to an insurance company for restitution based on the terms of the insurance Policy. The insurance company, through an Adjuster, investigates the validity of the Claim and pays the policyholder. Share | Have A Question About This Topic? Name Email Address Question Thank you! Oops! Related Contents Coaches Coaches have helped you your whole life, in ways big and small. We’d like to be one of them. Is Term Life Insurance for You? Term insurance is the simplest form of life insurance. Here's how it works. Assess Your Life Insurance Needs This calculator estimates how much life insurance you would need to meet your family's needs if you were to die prematurely.