Policyholders can visit LIC’s website for services like premium payment, buying policy online and other services.
With the coronavirus outbreak disrupting lives of citizens, banks and financial insititutions have been forced to relax terms and conditions of their various financial products and agreements.
Life Insurance Corporation (LIC) too has announced a slew of measures aimed at providing customers a hassle-free experience in these difficult times.
Like every other organisation, LIC’s operations have also been hit and its offices are functioning with skeletal staff.
Here are some of the key announcements made by LIC:
– LIC policyholders will get ease until April 15 for premiums for the month of February for which the grace period was expiring after March 22.
– Policies that can be revived without any evidence of good health can be done online, LIC said.
– Without any service charge, premiums can be paid with digital options by LIC’s policyholders. By downloading mobile app ‘LIC Pay Direct’ premiums can be made. By giving basic information, policyholders can pay premiums directly and do not need to register on the website.
Policyholders can pay premiums at all IDBI Bank and Axis Bank branches in cash through Common Service Centres (CSC), operating at block level.
Pure protection plan Tech Term, Jeevan Shanti Annuity Plan, Cancer Cover, SIPP and Nivesh Plus. These are the five plans LIC has made for online purchase.Payment will be made on an urgent basis to the death claims arising due to coronavirus death and it will be treated as par with other causes of death, LIC assured shareholders. LIC has settled more than 7.5 lakh death claims with only 0.75 percent of the total death claims reported remaining outstanding during the previous financial year.