LIC allows policyholder to deposit maturity claim in any branch in the country



Quick Summary
Life Insurance Corporation (LIC) has introduced a new customer-centric initiative to help policyholders during the COVID-19 pandemic. Policyholders can now deposit their maturity claim documents at any LIC office across India, regardless of their policy's servicing branch. While documents can be submitted locally, the actual claim payment will still be processed by the policy's designated servicing branch. This trial facility is available until March 31, 2021.

LIC has taken another giant leap in Customer centric initiatives to mitigate the hardships faced by Policyholders due to current circumstances of Corona Pandemic. In view of restriction in movements posed by Corona, LIC has allowed its Policyholders to deposit their Maturity claim documents attheir
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FAQ :

Yes, LIC policyholders can now deposit their maturity claim documents at their nearest LIC office anywhere in the country, irrespective of their policy's servicing branch.

The actual claim payment will still be processed by the policyholder's designated servicing branch. Documents will be digitally transferred through LIC's network.

No, this facility is available on a trial basis and is effective immediately until March 31, 2021.

If you are in one city and your policy documents are in another, you can deposit the documents separately at two different places.

You can approach an authorised officer at any LIC office for assistance with depositing your maturity claim documents.




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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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