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 Message Thank you! Oops! Related Content The Best of Both Worlds Here are a few reasons we’ve chosen to be independent. Variable Universal Life Insurance Variable Universal Life is permanent insurance in which the policyholder directs how premiums are invested. Protecting Those Who Matter Most The importance of life insurance, how it works, and how much coverage you need.