The Indian Maharatna company, Life Insurance Corporation of India (LIC) has issued a new directive for its field agents and Development Officers working in flood trodden state of Kerala. The new directive, that comes directly from the Chairman of the company, Mr. V K Sharma, tells agents to settle claims of the families who lost their loved ones in the natural disaster without them having to submit death certificate of the deceased.
Usually, in such cases, where the dead body is not found, authorities takes up to 7 years to issue death certificate for the missing person. The 7-year wait is required in order to ensure that the person who has been reported missing, is not alive and doesn’t comes back as his death is not confirmed.
LIC took liberal decision on its part to help the families of the victims who are insured with the company to settle claims without making them wait for 7 years. The corporation has issued an internal circulation asking its employees to oblige with the new orders.
Kerala death toll has touched 400 now and many more people are still reported as missing. In such a situation, where many private insurance companies don’t even agrees to settle claims stating that natural disaster comes under an ‘Act of God’, such a liberal decision that was taken voluntarily and unilaterally by LIC, will go out to set an example for other companies to follow.
Our sources revealed that this is not the first time LIC has taken such a decision. LIC has a long history of making its policies more and more flexible so that its customers get the true benefits that were promised to them when they purchased the policies. Even if other private companies don’t follow such a goodwill suit, this will help consumers to make a better-informed decision when they will be out in the market looking to buy their next life insurance policy. Such things also needs to be highlighted so that these good-hearted initiatives gets more and more recognition. It also shows that how true LIC really is to their motto of:
“Zindagi ke saath bhi, Zindagi ke baad bhi“
If you have a policy with LIC, and unfortunately lost a loved one in the devastating floods in Kerala, you can approach your nearest LIC office and ask for the settlement form. This needs to be signed by the field agent or Development Officer. Once you have the formalities done, submit it back to the office. You will not be asked to provide death certificate of the deceased and insured sum will be added to your account.