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LIC User Reviews

268 reviews Rate This
LIC
Highlights
Claim Settlement Ratio98.62%
Customer Care8:00 AM to 8:00 PM
Death Benefit Paid For73,3809 Policies
Inception1956
Presence2048 Branches
Total Death Benefit Paid12797.85 Crore
Rating of LIC
4.7
Based on
268 User reviews

The claim was settled on time


For the LIC of India- LIC Jeevan Labh , the claim was settled on time. I first contacted the team of InsuranceDekho who explained to me everything about the claim settlement process. Then, I bought the plan from InsuranceDekho. 

Sakshi Mahajan
On: Jul 07, 2023 | Views

Latest News on LIC Life Insurance

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    The LIC policy For Girl Children In India Is Something You Should Be Aware Of.

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Explore LIC Life Insurance

Latest News on LIC Life Insurance

  • LIC Life Insurance Premium Payment Online

    LIC Life Insurance Premium Payment Online

    Find out how to pay for LIC life insurance premiums in the section below. Read on to learn more.
    By Saumya Srivastava26 Apr 2023
  • LIC Policy Tracker: Track Your LIC Policy Status Online

    LIC Policy Tracker: Track Your LIC Policy Status Online

    Track your LIC policy status easily with the LIC Policy Tracker. Follow our step-by-step guide for new and registered users to check your policy status online.
    By Saumya Srivastava25 Jan 2023
  • Steps To Revive LIC Lapsed Policy

    Steps To Revive LIC Lapsed Policy

    The Life Insurance Corporation of India (LIC) offers a variety of revival schemes to help people renew their life insurance policies. Check out the process to renew a lapsed LIC policy in detail.
    By Saumya Srivastava10 Jan 2023
  • In India, What Are The Finest Single Premium Insurance Policies?

    In India, What Are The Finest Single Premium Insurance Policies?

    A single insurance endowment plan is a one-time payment insurance policy that has been created for customers who do not want to endure the hassle of keeping a tab on the plan and making regular periodic payments. Here, you make one large payment, become t
    By Shrida Gulati04 Apr 2022
  • The LIC policy For Girl Children In India Is Something You Should Be Aware Of.

    The LIC policy For Girl Children In India Is Something You Should Be Aware Of.

    The Life Corporation of India (LIC) has devised a strategy for children's savings. The LIC Kid plan is a participation plan that offers guaranteed payouts known as survival benefits over the life of the policy to help a growing kid fulfill scholastic, mar
    By Shrida Gulati26 Mar 2022
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Claim Process at LIC Life Insurance

  • 1

    Claim Intimation

    In the event of the death of the life assured, the insurance company should be intimated as early as possible.
  • 2

    Submission of Documents

    For easy claim settlement, claim form, original policy document, death certificate and others documents should be submitted on time.
  • 3

    Claim Evaluation

    After successful submission of documents, the insurance company will thoroughly evaluate the claim filed.
  • 4

    Claim Settlement

    If claim request is approved, claim is settled within 30 days. In case of additional investigation, claim process may take 120 days.

FAQs

  • 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.
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LIC Life Insurance Contact Details

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