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LIC new rules for life certificates, annuities, claim settlements: All you need to know

LIC new rules for life certificates, annuities, claim settlements: All you need to know
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LIC new rules for life certificates, annuities, claim settlements: All you need to know

LIC new rules for life certificates, annuities, claim settlements: All you need to know

Listed below are the main points concerning the comfort made by LIC for their clients on alternate demise proofs.

Image Credit score: Life Insurance coverage Company of India

HIGHLIGHTS

  • the comfort made by LIC for their clients on alternate demise proofs

India’s largest insurance coverage firm, Life Insurance coverage Company of India (LIC) has provide you with a leisure program for policyholders to make their claim settlement simpler and hassle-free. The claim got here into impact within the second wave of the novel coronavirus pandemic. Maintaining in view the security of its clients, LIC has given the next relaxations in varied claim settlement necessities.

Steps to facilitate the speedy settlement of claims

  • If a demise has occurred in a hospital, in lieu of the municipal demise certificates, LIC has allowed alternate demise proofs.
  • The policyholders can submit a discharge abstract/ demise abstract containing a transparent date and time of demise.
  • The demise abstract must be issued by Govt/ESI/Armed Forces/Company Hospitals.
  • Additional counter-signed by LIC class I officers or Improvement Officers of 10 years standing.
  • Together with this, the Cremation/Burial certificates or genuine figuring out receipt issued by the related authority, wants to be hooked up.
  • It talked about that in different circumstances, a municipal demise certificates will probably be required earlier.
  • It has additionally enabled on-line NEFT file creation and submission for its clients via the client portal for speedy settlement.
  • For annuities with the return of capital choices, manufacturing of life certificates is waived for annuities due up to 31.10.2021.
  • LIC has launched Life certificates procurement via a video name course of for the present pandemic state of affairs. In addition to accepting life certificates despatched via electronic mail in different circumstances.
  • The net amenities will assist in addressing the difficulties skilled by policyholders in submitting paperwork for claim settlement within the servicing department.
  • Moreover, the submission of paperwork is allowed in any close by LIC workplace for due Maturity/Survival Profit claims.
  • Additional, all LIC workplaces will work from Monday to Friday between 10 AM to 5:30 PM from tenth Could 2021 onwards, with each Saturday as a public vacation for LIC.
  • For availing On-line companies like Buying Insurance coverage Insurance policies, Cost of renewal premium, making use of for a mortgage, compensation of mortgage and mortgage curiosity, change of handle, NEFT mandate registration, updating particulars of PAN, and many others., policyholders can go browsing to www.licindia.in.

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