Download LIC Death Claim Form in PDF Format for Hassle-Free Claims Processing
Download LIC Death Claim Form in PDF Format : Life insurance policies are an essential investment for anyone looking to secure their family’s future. The Life Insurance Corporation of India (LIC) offers a wide range of policies that cater to different needs and budgets. In this article, we will discuss the claims process under regular life insurance policies of LIC and provide some tips to ensure a smooth and hassle-free claim settlement.
LIC offers two types of life insurance policies
Term insurance and endowment policies. Term insurance policies are pure protection plans that offer a lump sum payment in case of the insured’s untimely demise. Endowment policies, on the other hand, provide both protection and savings. They offer a death benefit and a maturity benefit, which is paid out if the policyholder survives the policy term.
To make a claim under a regular life insurance policy of LIC, the nominee or legal heir of the insured should intimate the insurance company as soon as possible after the insured’s death. The nominee should provide the policy documents, death certificate, and other relevant documents as required by the insurer.
Once the insurer receives the claim documents, they will verify the details and process the claim. The settlement of the claim is usually done within 30 days of receiving all the required documents. However, in case of any discrepancies or issues, the settlement may take longer.
To ensure a hassle-free claim settlement, it is essential to provide accurate information while filling out the proposal form at the time of policy purchase. Any incorrect or incomplete information can lead to claim rejection or delay.
It is also important to keep the policy documents and other relevant documents safe and easily accessible to the nominee or legal heir in case of the insured’s untimely demise. The policy documents should be kept in a secure place, and the nominee should be informed of their location.
LIC (Life Insurance Corporation) of India offers various types of death claims, including:
- Death claim for a life insurance policy: This type of claim is payable in case the insured person dies during the term of the policy. The beneficiary of the policy can make the claim.
- Death claim for a pension plan: This type of claim is payable in case the annuitant or policyholder dies. The nominee or legal heir can make the claim.
The claim procedure for a death claim in LIC of India is as follows:
Intimate LIC: The nominee or beneficiary of the policy should intimate the LIC office as soon as possible after the death of the insured person.
Submit required documents: The claimant should submit the following documents to LIC:
- Original policy document
- Death certificate of the insured person
- Identity proof of the claimant
- Claim form
- Any other document as required by LIC
Verification and processing of claim: LIC will verify the claim documents and process the claim. Once the claim is processed, LIC will disburse the claim amount to the nominee or beneficiary.
