LIC issues new rules for life certificates and know more details

LIC issues new rules for life certificates and know more details

LIC is providing certain relaxations in various claim settlement requirements to make the processes easier and hassle-free for policyholders. 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 call process. In order to address the difficulties experienced by policyholders in submitting documents required for claim settlement in servicing branch, submission of documents has been allowed in any nearby LIC office for due Maturity/Survival Benefit claims.

To facilitate speedy settlement of death claims in the prevailing situation where death has occurred in a hospital, in lieu of Municipal death certificates, LIC has allowed alternate proofs of death such as 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 alongwith Cremation/Burial certificate or authentic identifying receipt issued by the relevant authority.

In other cases, Municipal Death Certificate will be required as earlier. LIC has also enabled online NEFT record creation and submission for its customers through customer portal for speedy settlement…Read more>>



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