LIC relaxes declare settlement necessities; places of work to work 5 days every week from Might 10

LIC has additionally launched Life certificates procurement by video name course of.

Retaining in view the protection of its prospects, LIC has given relaxations in varied declare settlement necessities to make the processes simpler and trouble free.

To facilitate speedy settlement of demise claims within the prevailing state of affairs the place demise has occurred in a hospital, in lieu of municipal demise certificates, LIC has allowed alternate proofs of demise equivalent to demise certificates, discharge abstract/demise abstract containing clear date and time of demise issued by govt/ESI/armed forces/company hospitals and counter-signed by LIC class I officers or growth officers of 10 years standing, together with cremation/burial
certificates or genuine figuring out receipt issued by the related authority.

In different instances, municipal demise certificates will probably be required as earlier.

For annuities with return of capital choices, manufacturing of life certificates is waived for annuities due as much as 31.10.2021, moreover accepting life certificates despatched by electronic mail in different instances. LIC has additionally launched Life certificates procurement by video name course of.

To deal with the difficulties skilled by policyholders in submitting paperwork required for declare settlement in servicing department, submission of paperwork has been allowed in any close by LIC workplace for due maturity/survival profit claims.

LIC has additionally enabled on-line NEFT document creation and submission for its prospects by buyer portal for fast settlement.

All LIC places of work will work from Monday to Friday between 10 am and 5:30 pm from Might 10, 2021 onwards pursuant to a authorities notification dated April 15, 2021, declaring each Saturday as a public vacation for LIC.

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