LIC Policy Claim: Good news for LIC policyholders .. Opportunity till March 31 .. Here are the full details .. – LIC eases process to claim policy maturity benefits

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LIC Policy Claim: Life Insurance Corporation of India (LIC), the largest public sector insurer, has good news for its policyholders. The policyholders are facing in case of claim due to Kovid ..

Lic Policy

LIC Policy Claim: Life Insurance Corporation of India (LIC), the largest public sector insurer, has good news for its policyholders. Kovid has taken a step towards resolving the difficulties faced by the policyholders in the case of claim due. Maturity policies can be claimed at their nearest LIC offices. However, it clarified that this opportunity is only available till March 31. The policyholders are required to visit their nearest LIC office and submit the appropriate documents for the policy claim. The policyholder can make a maturity claim from any nearby branch irrespective of his servicing branch. LIC currently has 112 divisional offices, 2,048 branches, 1,526 satellite offices and 741 customer zones across the country.

However, wherever the policyholder has applied, the claim payment will be processed only by the relevant servicing branch. First the documents submitted by the policyholder are transferred online to the concerned servicing branch. LIC said the relevant authorities would have special powers to facilitate the process in relation to this claim. The policyholder is advised that the servicing branch can stay in one city and apply for the policy claim at the nearest branch.

New policy in the name of Bachat Plus Plan

LIC, which has been bringing in new policies from time to time, has recently launched a new policy under the name Bachat Plus. It is designed for savings as well as insurance protection for the policyholder. If the policyholder dies suddenly, his family will be compensated in two ways if he joins the plan, which comes with a maturity of five years. In case of death within five years of the policy being in force, the policy value will be paid at once as per the rules. If he dies after that his family will be compensated along with loyalty. The policyholder who joins this plan can pay the premium amount in one lump sum. Or have the option of paying in installments over a period of five years. The policyholder will also be eligible for tax deduction under 80C. The policy can be availed through the LIC official website or through the LIC agent, LIC said. At present, LIC offers over 29 crore policies across the country. LIC currently offers over 29 crore policies across the country.

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