LIC SIIP Plan Life Insurance User Reviews
|Claim Settlement Ratio||98.62%|
|Customer Care||8:00 AM to 8:00 PM|
|Death Benefit Paid For||73,3809 Policies|
|Total Death Benefit Paid||12797.85 Crore|
FAQ About Life Insurance Corporation of India (LIC of India)
Why should I choose the Life Insurance Corporation of India?
Life Insurance Corporation of India is the oldest and one the largest insurance providers in India. Life Insurance Corporation provides a wide range of Term Insurance, Endowment, Money Back and Whole Life Plans. Life Insurance Corporation has featured a high claim settlement ratio of 96.69% in the FY 2019-20.
What is the grace period of insurance plans offered by Life Insurance Corporation?
LIC offers 15 days of grace period for the policies with monthly premium payment mode and 30 days for policies with quarterly/half-yearly/yearly premium payment mode.
Who receives the claim benefit?
The claim benefit is payable to the nominee in case of an unfortunate demise of the life assured. In case the life assured has assigned the policy to someone, the assignee will be entitled to the benefits payable under the life insurance policy.
Can I file claims for LIC insurance plans online?
To file a claim for Life Insurance Corporation insurance plans you need to visit the LIC branch office for claim intimation and assessment.
What are the types of Insurance plans offered by Life Insurance Corporation?
Types of Life Insurance Corporation Insurance Plans are:
- Term Insurance Plans
- Endowment Plans
- Whole Life Plans
- Money Back Plans.
Claim Process at Life Insurance Corporation of India (LIC of India)
Claim IntimationIn the event of the death of the life assured, the insurance company should be intimated as early as possible.
Submission of DocumentsFor easy claim settlement, claim form, original policy document, death certificate and others documents should be submitted on time.
Claim EvaluationAfter successful submission of documents, the insurance company will thoroughly evaluate the claim filed.
Claim SettlementIf claim request is approved, claim is settled within 30 days. In case of additional investigation, claim process may take 120 days.
Life Insurance Corporation of India (LIC of India) Contact Details
Insurance Dekho755 1196 989Mon to Sun 10:00 AM to 7:00 PM
Life Insurance Corporation of India (LIC of India)022-6827-6827Mon to Sat 8:00 AM to 8:00 PM
Life Insurance News
- LIC Policy Tracker: How to Track LIC Policy Status
LIC Policy Tracker: Know the status of your LIC policy onlin...25 January 2023
- Steps To Revive LIC Lapsed Policy
The Life Insurance Corporation of India (LIC) offers a varie...10 January 2023
- In India, What Are The Finest Single Premium Insur...
A single insurance endowment plan is a one-time payment insu...04 April 2022
- The LIC policy For Girl Children In India Is Somet...
The Life Corporation of India (LIC) has devised a strategy f...26 March 2022
- Learn Everything About LIC 1 Crore Term Insurance ...
Learn all there is to know about the LIC 1 Crore Term Insura...06 March 2022