(a) the present number of policy holders of Life insurance Corporation of India in
each State;
(b) whether several settlement claims of the policy holders are delayed for long time;
(c) if so, the reasons therefor and the number of such claims pending State-wise; and
(d) the steps likely to be taken by the LIC for early disposal of these cases?
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI BALASAHEB VIKHE PATIL):
(a) A statement showing State-wise number of policyholders of Life Insurance Corporation
of India as on 31.3.2000 is given in statement I.
(b) and (c) LIC has reported that they make all efforts to settle the maturity claims on
or before due date. Intimation is sent to be policyholders asking them to submit a valid
discharge form and policy documents and policyholders are subsequently reminded if the
requisite information is not received before due date. Claims fulfilling all required
documents are settled promptly. Other claims are settled at a iater stage for want of
certain documents viz. policy document, valid discharge form, indemnity bond, latest
address, death certificate and other relevant records from Hospital, employer and police
authorities etc. A statement showing state-wise number of outstanding claims as on 30.9.2001
is given in Statement II.
(d) In order to settle the claims promptly, LIC has initiated many steps including
involvement of field personnel to contact the climants for getting latest address and other
relevant documents. In addition, a scheme has been devised to settle the death claims in
favour of class I legal heirs without insisting upon succession certificate where the
deceased does not make nomination or assignment.