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COVID-19: LIC relaxes requirements for claim settlement

COVID-19: LIC relaxes requirements for claim settlement

Keeping in mind the safety of its customers amidst the pandemic, the Life Insurance Corporation of India (LIC) has relaxed various claim settlement requirements to make the process easier.

The state-run insurance company said that it has allowed alternate proofs of death such as death certificate, discharge summary or death summary containing date and time of death issued by the government, ESI, armed forces, corporate hospitals and countersigned by LIC Class 1 officers or Development Officers in cases where the death has occurred in a hospital, instead of municipal death certificates, to facilitate speedy settlement of death claims. If the death did not occur in a hospital, the municipal death certificate would be required as earlier.

For annuities with return of capital options, production of life certificates is waived for annuities due up to October 31, 2021, besides accepting life certificates sent through email in other cases. LIC has also introduced Life certificate procurement through video calls, said a company statement. Instead of the serving branch, policyholders can now submit documents at any nearby LIC office for due maturity or survival benefit claims.

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TAGS:LIC Insurance 
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