Is a Photocopy of the Policy Accepted by LIC for a Death Claim? Clarifications and Requirements
LIC's Policy on Photocopies for Death Claims
When dealing with a death claim with LIC, it is important to understand the specific requirements regarding the submission of policy documents. Under no circumstances will a photocopy of the policy be accepted for the final settlement of any death claim. This article aims to demystify the process and clarify the requirements for submitting your claim.
Initial Submission and Photocopy Acceptance
When initially informing LIC of the death of the Life Assured, and while making an application on plain paper, a photocopy of the policy can be submitted as a supportive document. This initial step is crucial for initiating the claim process. However, it is essential to understand that a photocopy is only acceptable at this introductory stage and not for the final claim submission.
Claim Forms and Original Policy Bond
For submitting the Claim Forms, which is the next step in the process, the original Policy Bond must be submitted. This means that the policy document must be presented in its original form to proceed with the claim. The original Policy Bond is a critical document that holds all the necessary information required for the claim process.
What to Do if the Original Policy Bond is Not Available
If the original Policy Bond is not available, there are specific steps the claimant must take. Firstly, the claimant should inform LIC about the non-availability of the original document, along with the reason for its absence. It is important to follow all the formalities as suggested by the LIC authorized staff for a lost Policy Bond submission.
Steps to Submit the Claim Form and Document
Step 1: Informing the Claimant
The claimant must first approach LIC and inform them about the non-availability of the original Policy Bond. This should be done promptly to ensure that the claim process is not delayed.
Step 2: Completing the Non-Original Policy Bond Form
Once the claimant has informed LIC, they will be provided with a Non-Original Policy Bond Form. This form must be filled out in its entirety, providing all relevant details regarding the deceased and the circumstances of the loss. It is crucial to fill out this form accurately to avoid any issues in the claim process.
Step 3: Submitting Supporting Documents and Evidence
Along with the Non-Original Policy Bond Form, the claimant must submit other relevant supporting documents and evidence. This includes, but is not limited to, the Death Certificate, IDs, and other forms of documentation that are pertinent to the claim.
Frequently Asked Questions (FAQs)
Q: Can a photocopy of the policy be used in the final submission?
A: No, it cannot. A photocopy of the policy is only acceptable for initial submission as a supportive document. For the final submission, the original Policy Bond must be submitted.
Q: What should I do if the original policy bond is lost?
A: You should inform LIC immediately and follow the formalities specified by the LIC authorized staff to submit a claim for a lost Policy Bond.
Q: Are there other documents I need to submit along with the claim form?
A: Yes, you need to submit other relevant supporting documents and evidence. This includes, but is not limited to, the Death Certificate, ID proofs, and other documentation that are pertinent to the claim.
Remember, proper documentation is key in the claim process. Adhering to these guidelines will help ensure that your claim process is expedited and smoothly resolved. If you have any further questions or require assistance, contact your LIC authorized representative for guidance.