LIC further eases claims process in view of the pandemic

State-owned life insurance behemoth Life Insurance Corp of India has said that it has eased its claims settlement process in a bid to help customers with the process during the pandemic.

LIC will now allow policyholders to refurbish discharge or death summary issued by hospitals, government or armed forces in relevant cases, counter signed by any Class 1 officer at the insurer as a relevant proof. Earlier death certificates were mandatory for claims process.

For annuities with return of capital options, production of life certificates is waived for annuities due up to 31.10.2021, besides accepting life certificates sent through email in other cases, LIC said in a press release.

“To address the difficulties experienced by policyholders in submitting documents required for claim settlement in servicing branch, submission of documents has been allowed in any nearby LIC office for due Maturity/Survival Benefit claims,” the IPO-bound insurer added.

Further, all LIC offices will now follow a five-day working week schedule from Monday to Friday between 10 AM to 5:30 PM from 10th May, 2021 onwards every Saturday as a public Holiday for LIC.