LIC Maturity Claims Form in PDF Format for Hassle-Free Claims Settlement : Everything you need to know
Download LIC Maturity Claims Form in PDF Format for Hassle-Free Claims Settlement
Life Insurance Corporation of India (LIC) offers various life insurance policies to individuals to help them secure their future financially. One such policy is the maturity claim policy, which allows policyholders to receive the sum assured along with any bonuses on completion of the policy term. In this article, we will discuss the process of LIC maturity claims settlement in detail.
Submission of maturity claim
On maturity of the policy, the policyholder is required by LIC to submit the original policy bond, discharge form and other relevant documents to the nearest LIC branch office. The policyholder can also choose to submit the documents online through the LIC website. The documents required may vary depending on the terms and conditions of the policy.
Claim processing
After receiving the documents, LIC will process the claim and verify the documents submitted. LIC may also require additional documents or information for verification purposes. After verification of the documents, LIC will pay the maturity claim amount to the policyholder through electronic transfer or by issuing a cheque.
Factors Affecting Maturity Claim Settlement
The maturity claim settlement process can be affected by various factors, such as the accuracy of the documents submitted, any outstanding premium or loan, and personal details of the policyholder. To avoid any delay in the claim settlement process it is necessary to ensure that all the required documents are submitted correctly and completely.
Benefits of LIC Maturity Claim Settlement
The maturity claim settlement process offers several benefits to the policyholders including the following:
- Financial Security: The maturity claim settlement process ensures that the policyholder receives the sum assured along with any bonuses, while providing financial security and stability.
- Hassle-free process: The maturity claim settlement process is relatively simple and hassle-free, requiring only a few documents and minimal effort from the policyholder.
- Tax Benefit: The maturity claim amount is tax-free under section 10(10D) of the Income Tax Act, which provides additional benefits to the policyholder.
LIC maturity claim settlement is a straightforward and hassle-free process that offers multiple benefits to the policyholders. By ensuring the correct submission of documents and timely submission of claims, policyholders can secure their financial future and avail maturity claim benefits.
Download LIC Maturity Claims Form in PDF Format Form No. 3825
Discharge Voucher for Pollicy Maturity Form No. 3825
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