Keeping in thoughts the protection of its clients amid the second wave of the COVID-19 pandemic, state-run Life Insurance Corporation of India (LIC) Friday introduced a slew of relaxations in declare settlement requirements, making the method simpler and hassle-free.
In order to facilitate speedy settlement of demise claims within the present scenario the place demise has occurred in a hospital, in lieu of municipal demise certificates, the insurer has allowed alternate proofs of demise, a launch stated.
The different proofs of demise embody a demise certificates, discharge abstract/demise abstract containing clear date and time of demise issued by authorities/ESI (workers’ state insurance coverage) /armed forces/company hospitals and counter-signed by LIC class I officers or growth officers of 10 years standing.
This must be submitted together with a cremation/burial certificates or genuine figuring out receipt issued by the related authority, the discharge stated.
In different circumstances, the municipal demise certificates shall be required as earlier, it stated.
To tackle the difficulties skilled by policyholders in submitting paperwork required for declare settlement within the servicing department, the insurer has allowed submission of paperwork in any close by LIC workplace for due maturity/survival profit claims.
For annuities with a return of capital choices, manufacturing of life certificates is waived for annuities due as much as October 31, 2021, in addition to accepting life certificates despatched by way of electronic mail in different circumstances, the discharge stated.
LIC has additionally launched life certificates procurement by way of a video name course of.
The life insurer has additionally enabled on-line NEFT file creation and submission for its clients by way of a buyer portal for speedy settlement.
It stated policyholders can even go browsing to its web site – www.licindia.in for shopping for insurance coverage insurance policies, cost of renewal premium, making use of for loans, compensation of mortgage and mortgage curiosity and alter of tackle, amongst others providers.
The insurer stated all its workplaces shall be open from Monday to Friday between 10 AM to five:30 PM from May 10, 2021, onwards.
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