LIC to ease up the process of claim during pandemic

Life Insurance Corp of India, a state-owned life insurance giant, has announced that it has simplified the claims resolution process to assist consumers during the pandemic.  In relevant circumstances, LIC will now enable policyholders to refurbish discharge or death summaries provided by hospitals, the government, or the armed forces, and will be verified by every Class 1 officer at the insurer. Previously, death certificates were required for the claims process.

According to LIC, the existence of life certificates for annuities with return of capital options is waived for annuities due up to 31.10.2021, with life certificates provided by email approved in all instances.

To overcome policyholders’ difficulties in submitting documents needed for claim resolution in servicing branches, submission of documents for due Maturity/Survival Benefit claims has been permitted in any nearby LIC office,” the IPO-bound insurer added.

Furthermore, starting May 10, 2021, all LIC offices will operate on a five-day workweek, Monday to Friday, from 10 a.m. to 5:30 p.m., with Saturday becoming a LIC public holiday.

The deadline for filing April returns has been extended by one month by ESIC.

Employees’ State Insurance Corporation (ESIC) has relaxed the provision in Regulation 31 of the ESI (General) Regulations, 1950, allowing ESI contributions for the month of April 2021 to be filed up to 15th June 2021 instead of 15th May 2021, in accordance with the central government’s relief initiatives for businesses and employees. 

Due to the second wave of the COVID-19 Pandemic, the country is in a very difficult situation. Many businesses are temporarily suspended, and employees are unable to operate, according to the Ministry. Employers who are bound by the ESI Scheme will now file and pay ESI Contribution for the month of April 2021 up to the 15th of June 2021, rather than the 15th of May 2021. It further said that this would give 12.36 lakh workers a good time period to pay the ESI contribution.

About three crore people are covered by ESIC, for a total of over 12 crore beneficiaries. The scheme applies to companies with ten or more staff. The covered individual is entitled to prescription insurance, illness benefits, disability benefits, and other benefits under the scheme.

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