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LIC offers new facility to policyholders to ease maturity claim process

In view of the coronavirus-related curbs, policyholders have been allowed to submit their maturity claim documents at the nearest LIC offices.

March 22, 2021 / 07:03 PM IST
Representative image

Representative image

Life Insurance Corporation (LIC) has eased the process for maturity claim payments with a new facility that allows policyholders to submit their documents at the nearest LIC offices across the country.

The rule on document submission was eased in view of the COVID-19-related restrictions, the state-run insurance service provider said in a press release.

"LIC has allowed its 113 divisional offices, 2048 branches, 1526 satellite offices and 74 customer zones to receive maturity claims documents from policyholders whose maturity payments are due, irrespective of the servicing branch of the policy," the statement read.

However, the actual claim payment will be processed by the servicing branch only. The documents will be digitally transferred through LIC’s All India Network, it added.

The facility to submit documents at any LIC office in the country is "available on trial basis" with immediate effect till March 31, 2021, only, the statement said.

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"In all the offices, officers have been especially authorized to facilitate this job. The policyholder can walk into any of the above offices of LIC and ask for authorized officer for assistance in this regard," it further added.

If a policyholder is in one city and the policy document is in another city then, the documents can be deposited separately at two different places, LIC clarified.

This is a partnered post.
Moneycontrol News
first published: Mar 22, 2021 06:57 pm

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