Business

Norms eased for LIC claims settlement

Life Insurance Corporation of India (LIC) has relaxed claims settlement norms on account of the pandemic. The insurer will accept alternative proofs in lieu of municipal certificates where death has occurred in a hospital.

For annuities with return of capital options, production of life certificates has been waived for annuities due up to October 31. Besides, life certificates sent via email, in other cases, will be accepted.

Life certificates can be procured via video calls. Also, documents can be submitted at any local LIC office for claims settlement at the servicing branch.

LIC also said from May 10, its offices will work from Monday to Friday between 10 A.M. and 5:30 P.M. as per a Government notification.


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Printable version | Jun 15, 2021 5:23:40 PM | https://www.thehindu.com/business/norms-eased-for-lic-claims-settlement/article34516672.ece

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