For Quick Alerts
For Daily Alerts

LIC Policyholders Get 30 More Days To Pay March, April Premiums

By Staff

The Life Insurance Corp of India (LIC) said that in the wake of "unforeseen difficulties" faced by people due to the COVID-19 outbreak, it will give a month-long extension to all its policyholders whose premium payments fall due in March and April. A small extension was also announced for policy premiums due in February.

LIC Policyholders Get 30 More Days To Pay March, April Premiums

"To mitigate the hardships being faced by policyholders in payment of premium, LIC has announced that for all policies, where premium is due in the month of March and April 2020, grace period has been extended by one month," LIC said in its statement on Saturday.

"For February premiums where grace period was expiring after 22nd March, relaxation is allowed upto 15th April."

Further, LIC said that all COVID-19 related deaths would come under the scope of existing and new policy covers and would be treated at par with other deaths and payments would be made on an urgent basis. It said that it has already processed 16 death claims related COVID-19 as on Saturday.

COVID-19 fatalities have surpassed 200 in India.

"Corona virus has already claimed many lives and efforts are being made by LIC officials to locate Covid-19 victims on the basis of lists provided by government authorities to help the families," LIC said.

Read more about: lic
Story first published: Saturday, April 11, 2020, 16:42 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more