LIC Claims Process: Alternate Death Proof, Online Policies & Other Relaxations In Covid Second Wave

New Delhi: In order to offer relief to customers facing the brunt of the second wave of the covid-19, the Life Insurance Corporation of India (LIC) has allowed certain relaxation in its claim-settlement procedures while considering customers’ safety.

Policy buyers can visit its official website for procuring insurance policies, payment of renewal premium, applying for loans, repayment of loan and loan interest and change of address, among others services. Also Read: SBI Account Transfer Steps: Looking To Transfer Account To Different Branch? Here’s How To Do It Online

Here are relaxations for LIC claim -settlement procedure:

Alternative death proof: The life insurer has allowed the submission of alternative proof of death to facilitate speedy settlement of death claims in the prevailing situation where death has occurred in a hospital. For instance, in place of municipal death certificates, claimants can now submit documents “such as death certificate, discharge summary/death summary containing a clear date and time of death issued by govt/ESI/armed forces/corporate hospitals, and counter-signed by LIC class I officers or development officers of 10 years standing along with cremation/burial certificate or authentic identifying receipt issued by the relevant authority”.
In other cases, the municipal death certificate will be required as earlier.

Life certificates:  For Annuities with the return of capital options, production of life certificates is waived for annuities due up to 31 October 2021, besides accepting life certificates sent through email in other cases. The largest life insurer has also introduced life certificate procurement through a video call process.

With an aim to ensure speedy settlement, LIC also enabled online NEFT record creation and submission for its customers through its customer portal.

Claim Settlement documents: To tackle the problems experienced by policyholders in submitting documents required for claim settlement in the servicing branch, submission of documents has been allowed in any nearby LIC office for due maturity/ survival benefit claims, the statement said.

Moreover, it has also offered some relief to its employees and said LIC offices will work from Monday to Friday between 10 am and 5.30 pm from Monday onwards.  As per the notification, every Saturday has been declared a holiday for LIC.