+91 8447496480

Industry News

Industry news may demonstrate you know what's going on in the world.

LIC pension policyholders can submit life certificate via email

13-May-2021

In the wake of the second wave of the coronavirus, the Life Insurance Corporation of India (LIC) has allowed annuity holders to submit their life certificate via email. "For Annuities with return of capital options, production of life certificates is waived for annuities due up to 31.10.2021, besides accepting life certificates sent through email in other cases. LIC has also introduced Life certificate procurement through video call process," stated an LIC press release issued on May 7, 2021.

Along with this, LIC has also has relaxed the death claim settlement process. To allow speedy settlement of death claims in the prevailing situation where death has occurred in a hospital, instead of municipal death certificates, LIC has allowed these alternate proofs of death:

  • 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.

Added to this, instead of submitting the documents required for claims settlement, policyholders can submit them in any nearby LIC office for due maturity/survival benefit claims, stated the release.

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

 

×

All Rights Reserved © 2020 www.moneycompound.com