LIC customers: How to file maturity claim for LIC policy to get your money
LIC policy matures, you receive the final maturity amount from the insurer. To get the final payment, LIC customers have to make claims. You can submit a LIC maturity claim online. LIC customers have the option to electronically submit their documentation via the LIC site instead of physically submitting it.
LIC urges customers to do these things
Life Insurance Corporation of India or LIC is urging policyholders to update bank details and submit KYC to receive policy money, in a social media post on X.
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LIC claims settlement procedure
Claims settlement is a crucial component of providing service to policyholders. As a result, the LIC has placed a high priority on the timely settlement of both maturity and death claims. The method for settling maturity and death claims is described below, as per the website:
How to submit maturity claim for LIC policy
Endowment maturity claims
Endowment policies require payment at the end of the policy period. At least two months before the due date for payment, the branch office that serves the policy sends out a letter alerting the LIC policyholder of the date on which the insurance amounts are payable. On receipt of required papers, payment is handled in advance so that the maturity amount is credited to the policyholder's bank account on the due date.
LIC policyholder must send the completed discharge form, together with the policy document,
