As per the release, “LIC has allowed its 113 divisional offices, 2048 branches, 1526 satellite offices and 74 customer zones to receive maturity claim documents from policyholders whose maturity payments are due, irrespective of the servicing branch of the policy. However, the actual claim will be processed by the servicing branch only. The documents will be digitally transferred through LIC’s All India Network.”
As per this facility, if a policyholder is in one city and his/her policy documents are in another city, then such documents can be deposited separately at the two different locations. Officers have been authorised to facilitate this job in the above-mentioned offices by the LIC. A LIC policyholder can walk into any of these offices of the LIC and ask for an authorised officer for assistance in this regard.
The facility is available on trial basis with immediate effect till March 31, 2021. The decision has been taken to mitigate the hardships faced by policyholders due to the ongoing circumstances of the novel coronavirus pandemic.
Since last year at the start of the pandemic, LIC has offered relaxations to the customers for maturity claim settlement. Due to lockdown and policy restrictions, LIC allowed its policyholders to submit maturity claim related documents online. The required documents were required to be scanned and then submitted via email to the servicing branch. This facility was available till June 30, 2020.
Similarly, the Insurance Regulatory and Development Authority of India (Irdai) extended the timeline for making life insurance premium payments.
