With the safety of its customers in mind, LIC has relaxed various claims settlement requirements to make the processes easier and hassle-free.
To facilitate the speedy resolution of death claims in the current situation where the death occurred in a hospital, instead of municipal death certificates, LIC allowed other proof of death such as a death certificate, summary of discharge / death summary containing date and time of death. issued by government / ESI / armed forces / company hospitals and countersigned by LIC class I agents or development agents with 10 years of seniority, with cremation / burial
authentic identification certificate or receipt issued by the competent authority.
In other cases, a municipal death certificate will be required as above.
For annuities with capital repayment options, the production of life certificates is suppressed for annuities due until October 31, 2021, in addition to accepting life certificates sent by email in other cases. LIC also introduced the purchase of life certificates through a video appeal process.
To resolve the difficulties faced by policyholders in submitting the documents required for claims settlement at the service branch, the submission of documents has been permitted at any nearby LIC office for claims for benefits due / survival.
LIC has also enabled the creation and submission of NEFT records online for its clients through the client portal for prompt settlement.
All LIC offices will operate Monday to Friday 10 a.m. to 5.30 p.m. starting May 10, 2021 in accordance with a government notification from April 15, 2021 declaring each Saturday a statutory holiday for LIC.