New Delhi: Life Insurance Corporation of India (LIC) has relaxed the claim settlement requirement. LIC has announced a number of relaxations in several claim settlement requirements to make the process easier and hassle-free citing Covid pandemic.
With an aim to facilitate speedy settlement of death claims during the ongoing pandemic situation in case where the death has occurred in a hospital, LIC has allowed alternate proofs of death for its customers. LIC customers can now submit a list of documents.
LIC Claim Settlement: With an aim to facilitate speedy settlement of death claims during the ongoing pandemic situation in the case where the death has occurred in a hospital, LIC Relaxes Claim Settlement Requirements, Customers Can These Documents Submit Now. LIC has allowed alternate proofs of death for its customers.
These documents are
1. Death Certificate
2. Discharge summary
3. Death summary containing clear date and time of death issued by Government or ESI or Armed Forces or Corporate hospitals and counters-signed by LIC class I officers or Development officers of 10 years standing along with cremation or burial certificate or authentic identifying receipt issued by the relevant authority.
4. In other cases, Municipal Death Certificates will be required as earlier.
5. For Annuities with return of capital options, production of life certificates is waved for annuities due up to 31.10.2021.
6. LIC has also introduced Life Certificate procurement through video call process.
7. LIC has also allowed its customers to submit documents required for claim settlement any nearby LIC office for due maturity or survival benefit claims instead of visiting the servicing branch.
8. LIC has also enabled online NEFT record creation and submission for its customers through customer portal for speedy settlement.