Latest news with #LICIndiaForever
Time of India
a day ago
- Business
- Time of India
Air India plane crash: LIC eases procedure of policy settlements for victims' families
The Life Insurance Corporation of India (LIC) on Friday announced a range of concessions to help ease the financial hardships faced by the families of those killed in the Air India flight Al 171 plane crash in Ahmedabad on June 12, 2025. In a press release, LIC expressed grief over the deaths of passengers, crew members, and people on the ground who lost their lives in the tragedy. To provide financial relief to policyholders' nominees, LIC said it would expedite the processing of death claims and relax certain conditions normally required for settlements. — LICIndiaForever (@LICIndiaForever) As per the announcement, instead of a death certificate, LIC will accept any Government record confirming the policyholder's death due to the incident, or proof of compensation disbursed by the Central or state government or Air India authorities. Live Events The state-owned insurer assured that all efforts would be made to reach policyholders' families promptly and settle their dues at the earliest. Claimants in need of assistance can contact their nearest LIC branch, division, or Customer Zone. Additionally, a helpline, 022 68276827, has been set up to provide support and information. AI-171 crash: India's worst air disaster in nearly a decade The crash of Flight AI‑171, a Boeing 787‑8 Dreamliner, is one of India's worst aviation disasters in nearly a decade. The aircraft, heading from Ahmedabad to London's Gatwick, came down in a residential area just moments after takeoff, claiming 265 lives (230 passengers, 10 crew, 2 pilots, 5 doctors and others yet to be identified), with only one survivor confirmed. Eyewitnesses described the impact as sounding 'like an earthquake,' with thick black smoke engulfing the crash site and rescue teams struggling to reach the wreckage. The plane struck a hostel building near Sardar Vallabhbhai Patel International Airport, complicating rescue efforts amid intense heat, a large fuel blaze, and debris. Home Minister Amit Shah confirmed that soaring temperatures and around 125,000 litres of fuel onboard made the crash unsurvivable. This tragic incident marks the first fatal crash of a Boeing 787 Dreamliner since the model's inception and comes at a crucial time for Air India, which is undergoing a transformation under Tata Group's privatisation efforts.
Time of India
24-04-2025
- Business
- Time of India
Pahalgam tragedy: LIC announces special window for death claim settlements, how to file a death claim with LIC
— LICIndiaForever (@LICIndiaForever) Live Events Procedure for death claim settlement Life Insurance Corporation (LIC) of India has expressed deep sorrow over the tragic loss of innocent lives in Pahalgam. In a compassionate response, LIC has announced special window to expedite the settlement of death claims for the deceased individuals.A nominee should know that the process to file a death claim is completely offline. You should keep all the required documents to file the death claim handy before approaching the home branch from where the policy was to the LIC's official social media post, 'LIC of India expresses deep grief over the death of innocent citizens at Pahalgam and has announced special concessions to settle the Death Claim of the deceased, at the earliest. LIC of India stands firmly with the aggrieved family in their moments of grief, said Shri Siddhartha Mohanty, CEO & MD, LIC of India.'Also read: No cashless claim in Max Hospitals in Delhi NCR for policyholders of CARE Health Insurance The death claim is payable for policies where premiums are up to date or where death has occurred within the grace initiate the process of death claim settlement, the claimant must first notify the LIC servicing branch in writing, providing the policy number, date of death, and cause of death. Following this, the claimant is required to submit Claim Form A, which includes essential details about both the deceased and the claimant. A certified extract from the local death register must be provided as the official death certificate. The original policy document must also be submitted, along with proof of age for both the deceased and the claimant, such as an Aadhaar card or PAN card. In cases where the policy is not nominated or assigned, evidence establishing legal entitlement to the deceased's estate is required. Finally, for the disbursement of the claim, the claimant must submit their banking details, including a duly filled NEFT form, a cancelled cheque, or a copy of their bank receiving intimation of death, the servicing branch will request the following documents:Notify the LIC servicing branch in writing with the policy number, date, and cause of the claimant's statement providing details of the deceased and the claimant.: Certified extract from the local death Policy Document: Submit the original policy both the deceased and the claimant (e.g., Aadhaar card, PAN card).Nominee/Assignee Details: If the policy isn't assigned or nominated, submit proof of legal entitlement to the form along with a cancelled cheque or copy of the bank passbook for electronic transfer of claim amount.(If death occurs within 3 years of the policy's commencement, revival, or reinstatement)Medical Attendant's Certificate detailing the last if the deceased received hospital the medical attendant who treated the deceased prior to the last of Identity and Burial/Cremation, signed by a person of from the employer, if the deceased was copies of the First Information Report (FIR), Post-Mortem Report, and Police Investigation Report (in case of accidental or unnatural death).These documents help LIC ensure that the claim is genuine and that no material facts were misrepresented at the time of policy issuance. They also assist in facilitating internal investigations, where necessary.
