LIC settles 561 corona claims worth Rs. 27 cr

Life Insurance Corporation of India said that it has settled 561 Covid-19 death claims amounting to nearly Rs 27 crore. The insurer has also relaxed its norms amid the lockdown to process maturity claims based on email submissions of survival-benefit requirements and is settling such claims without the policy document if certain conditions are met. “Death claims arising due to Covid-19 are treated on a par with other causes of death and payments are being made on an urgent basis. LIC has also relaxed the procedure and is accepting requirements of death claim through email from their club agents and development officers,” the corporation said.