LIC Claims Review Committee
The Life Insurance Corporation of India settles a large number of Death Claims every year. Only in case of fraudulent suppression of material information is the liability repudiated. This is to ensure that claims are not paid to fraudulent persons at the cost of honest policyholders.
The number of Death Claims repudiated is, however, very small. Even in these cases, an opportunity is given to the claimant to make a representation for consideration by the Review Committees of the Zonal office and the Central Office. As a result of such review, depending on the merits of each case, appropriate decisions are taken.
The Claims Review Committees of the Central and Zonal Offices have among their Members, a retired High Court/ District Court Judge.
This has helped provide transparency and confidence in Corporation operations and has resulted in greater satisfaction among claimants, policyholders, and the public.
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