LIC latest news alert! Claim settlement requirements RELAXED further; life certificate procurement via video call

In a much-needed relief, India’s largest state insurer Life Insurance Corporation of India (LIC) has given some relaxations to the policy holders in view of the prevailing Coronavirus pandemic situation. The steps have been taken to ensure customer safety of the people, a government release said. LIC is giving relaxations in various claim settlement requirements to make the processes easier and hassle free.

To facilitate speedy settlement of death claims in the prevailing situation where death has occurred in a hospital, in lieu of Municipal death certificates, LIC has allowed alternate proofs of death such.

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List of alternate proofs:

Death certificate

 Discharge summary/Death summary containing 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, Municipal Death Certificate will be required as earlier.

For Annuities with 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.  
LIC has also introduced Life certificate procurement through video call process.

To address the difficulties 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.

LIC has also enabled online NEFT record creation and submission for its customers through a customer portal for speedy settlement.  

Further, all LIC offices will work from Monday to Friday between 10 am and 5:30 pm from 10 May 2021 (Monday) onwards. The Government of India issued notification on 15 April 2021 with respect to this declaring every Saturday as a public Holiday for LIC.  

For availing Online services like Purchasing Insurance Policies, Payment of renewal premium, applying for loan, repayment of loan and loan interest, change of address, NEFT mandate registration, updating details of PAN etc., policyholders can log on to www.licindia.in.