7th May, 2021
.The Public Sector Life Insurance Corporation (LIC) has announced a relaxation of various procedures to make the process related to claim settlement easier. LIC has said that this step has been taken keeping in mind the safety of the customers. The insurance company said that under the present circumstances, LIC has allowed some other documents to be used as alternative evidence in place of the death certificate issued by the Municipal Commissioner for the death claim in case someone dies in hospital. However, in other cases, a Municipal Death Certificate will be required like the former.
Decision on submitting life certificate too
The exemption for submission of life certificate for due annuities is waived by 31.10.21 in annuities with an option to get back the capital. In other cases, the insurance company will accept the life certificate submitted via email.
LIC has allowed policy holders to submit documents to any nearest LIC office for maturity / survival benefit claim settlement. The decision has been taken in view of the difficulty faced by policyholders in submitting documents to the service branch for claim settlement due to the coronavirus epidemic.
LIC has allowed customers to create and submit online NEFT records through its customer portal for the early settlement of claims.
From May 10, LIC will have only five days of work
Life Insurance Corporation has said that from May 10, LIC offices will be functioning from 10 am to 05:30 pm from Monday to Friday. These changes have been made in the working week of LIC in light of the notification issued by the government on 15 April 2021.
For these facilities visit LIC website
If you want to buy an insurance policy or you have to pay a renewal premium, apply for a loan, prepay the loan, change address, update PAN details, etc. you can log on to www.licindia.in.