Friday, 22 July 2011

Sushil Oza's Comment On Insurance News Of Life Insurance Corporation Of India

We Are Proud To Be An Indian With LIC OF INDIA  :  By Sushil Oza

Life Insurance Corporation of India (LIC) is taking the responsibility of coming to the aid of itsLIC of India logopolicyholders. LIC Managing Director T S Vijayan, has issued a special circular for claims settlement of victims of Mumbai Blast 2011.

LIC will pay double accident benefit and disability claims to those injured or dead in the recent terror attacks which took place in the capital city. The circular also says that no investigations will be done on early claims. Normally in death claims, LIC carries out an investigation to verify the death of the person. By easing the norms for blast victims, they plan to cut short the time taken for disbursement of claims. LIC has already settled one claim so far.

The country’s largest insurer, has geared up to ensure a speedy claims process and will accept any of the following documents:

- Post-mortem report, panchnama or police inquest report
- Ex-gratia payment on account of such death made by Central / State government of any municipal authority
- In case of policies where the sum assured is up to Rs 40,000, the widow's statement duly endorsed by any person specified to attest LIC's Death Claim Discharge Form along with a suitable indemnity will be accepted as a waiver of the standard proof of death.

LIC has a formed a specially designated cell to assist policyholders and  if any clarification about any insurance policy or claime detail contact with Mr.Sushil Oza at