LIC relaxes maturity claims norms

To mitigate hardships faced by its policyholders during the pandemic, the Life Insurance Corporation of India (LIC) has allowed them to deposit their maturity claim documents at their nearest LIC office anywhere in the country.

The insurer 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.

“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,” LIC said in a statement.