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Wednesday, October 27, 2021

LIC makes claim settlement easy, big relief in rules due to Corona

LIC offices will be open five days a week from 10 am to 05:30 pm Monday-Friday.

The second wave of corona in the country is proving more dangerous. Due to this, the country’s largest insurance company Life Insurance Corporation of India (LIC) has given a big relief in the documents required for claim settlement on Friday 7 May, due to which the process has become very easy. In the present era, for the earliest settlement of death claim, where the policyholder has died in the hospital, the nominee has been approved to present another certificate in lieu of the Municipal Death Certificate. According to the release issued by LIC, it will be necessary to present the Municipal Death Certificate for death claims in other cases.

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These certificates will be valid in lieu of Municipal Death Certificate

Other certificates of death as per the release issued by LIC include Death Certificate, Discharge Summary / Death Summary clearly indicating the date and date of death and issued by Government / ESI (Employees State Insurance) / Armed Forces / Corporate Hospitals Have been done. However, the counter sign of LIC’s class 1 officers or development officer with experience of more than 10 years is required on this document. It has to be submitted along with the funeral or burial certificate. According to the release issued by LIC, it will be necessary to present the Municipal Death Certificate for death claims in other cases.

LIC office will open only 5 days a week from May 10

Due to the Corona epidemic, LIC has decided that from 10 May its offices will be open only five days a week from 10am to 05:30 pm Monday-Friday. LIC has also given a big relief to submit documents in Maturity / Survival Benefit Claims. Now it can be deposited in any nearest LIC office. Apart from this, those who have purchased the annuity of the option of return of capital, do not have to submit the life certificate in the case of due annuity till 31 October 2021. Apart from this, LIC has also said to accept life certificate through e-mail in other cases. Apart from this, LIC has also introduced life certificate through video call process.

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Nisha Chawlahttps://www.businesskhabar.com/
She is an expert in Banking, Finance and working with an international bank. She sharing her ideas and knowledge with Business Khabar.
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