LIC policyholders can deposit maturity claim documents anywhere in India

Life Insurance Corporation of India (LIC) has permitted its policyholders to submit their maturity claim at any of their nearest LIC offices anywhere in the country till the end of this month.

The national insurer made the announcement to ease the policy settlement process to mitigate the hardships faced by its customers due to the corona pandemic.

However, the facility is available on trial with immediate effect till March 31 only, LIC said in a statement.

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"LIC has allowed its 113 divisional offices, 2,048 branches, 1,526 satellite offices, and 74 customer zones to receive maturity claims documents from policyholders whose maturity payments are due, irrespective of the servicing branch of the policy," the national insurer said.

Nevertheless, the actual claim payment will only be processed by the servicing branch, it said, adding that this document transfer will be digitally managed by the branch where it has been submitted.

"However, the actual claim payment will be processed by the servicing branch only. The documents will be digitally transferred through 'LIC's All India Network'," it added.

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All officers have been specifically authorised to facilitate this claim settlement process, the IPO-bound insurer said, adding that a policyholder can walk into any of the above offices and ask for the authorised officer for assistance.

If a policyholder is in one city and the policy document is in another city, then the documents can be deposited separately at two different places.

LIC currently services over 29 crore policies across the nation.