LIC policyholders can deposit maturity claim documents anywhere in India–business today

Clipped from: https://www.businesstoday.in/money/insurance/lic-policyholders-can-deposit-maturity-claim-documents-anywhere-in-india/story/434321.html

LIC policyholders can deposit maturity claims documents at any of its 113 divisional officials, 2,048 branches, 1,526 satellite offices, and 74 customer zones, notwithstanding the service branch of the policyThe national insurer made the announcement to ease the policy settlement process to mitigate the hardships faced by its customers due to the corona pandemic

Life Insurance Corporation of India (LIC) has permitted its policyholders to submit their maturity claim at any of their nearest LIC offices anywhere in the country till the end of this month.

The national insurer made the announcement to ease the policy settlement process to mitigate the hardships faced by its customers due to the corona pandemic.

However, the facility is available on trial with immediate effect till March 31 only, LIC said in a statement.

“LIC has allowed its 113 divisional offices, 2,048 branches, 1,526 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 national insurer said.

Nevertheless, the actual claim payment will only be processed by the servicing branch, it said, adding that this document transfer will be digitally managed by the branch where it has been submitted.

“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.

Also Read: 1600% jump in LIC’s ULIP premium in a year

All officers have been specifically authorised to facilitate this claim settlement process, the IPO-bound insurer said, adding that a policyholder can walk into any of the above offices and ask for the authorised officer for assistance.

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 currently services over 29 crore policies across the nation.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s