Life Insurance Corporation of India (LIC) has given several relaxations in various claim settlement requirements to make the processes easier and hassle-free, keeping in view the safety of its customers amid the pandemic. The state-run insurer said that to facilitate speedy settlement of death claims in the prevailing situation where death has occurred in a hospital, in lieu of municipal death certificates, it has allowed alternate proofs of death. 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, said a company statement. The LIC has also enabled online NEFT record creation and submission for its customers through the customer portal for speedy settlement.

Source: dna May 08, 2021 11:26 UTC