As per the new rules, beneficiaries can claim settlement by presenting a discharge/death summary that has a clear date and time of death
The Life Insurance Corporation of India (LIC) has come up with a new set of rules for claim settlement requirements. The step has been taken considering the COVID-19 pandemic and in order to make the process hassle-free for customers.
The announcement was made by LIC on Friday, 7 May to make the claim-settlement process easier.
LIC customers can avail of the services by visiting the official website — licindia.in — and apply for loans, request a change of address, update PAN details, etc.
As per the new rules, instead of municipal death certificates, beneficiaries can claim settlement by presenting a discharge/death summary that has a clear date and time of death. This death summary can be obtained from the government, corporate, armed forces, ESI hospitals.
The summary should be countersigned by a LIC Class I Officer/Developmental Officer of 10 years standing. Claimants should also produce a cremation or burial certificate issued by the relevant authority.
However, if the death has not occurred at a hospital then LIC would require a municipal death certificate as proof.
These new rules will be applicable from today, 10 May. All LIC offices will be functional between 10 am and 5:30 pm from Monday to Friday, reported The Hindu.
Life Certificate Procurement through video calls has also been allowed by the corporation. The submission of documents has been allowed at any sevicing branch of the LIC for claim settlement.
As per Zee News, the submission of Maturity/Survival Benefit claims can happen at any LIC office. In order to facilitate speedy settlement, the organisation is providing online NEFT record creation.
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