Life insurance solutions that
protect your family’s future

Premium

• Branches will collect the applicable premium from the policy holders and it will be remitted to the respective LIC office. In case of Axis Max Life Insurance Limited and Bajaj Life Insurance Co. Ltd, premium will be debited directly from customer account and credited to Insurance Companies Account.
• No amount collected from the insured towards premium will be retained by branches. It will be forth with transferred to the Insurance Companies Account.
• In the solicitation of business, we will not unilaterally represent rates of premium different from those fixed or instructed by the Insurance Companies.

Policies

• We will follow up with the insurer for issuance of policies and hand them over to the Policyholders.
• Policy holders are advised to scrutinize the policies immediately on receipt by e-mail or WhatsApp or hard copy.
• We will also assist to identify any errors or discrepancies and will contact the Insurer immediately for necessary correction.
• No correction, alternation or modification will be made by our Bank in the policies issued by the Insurance Companies.

Claims

• Any intimation of claim received by us will be immediately forwarded to the respective insurance companies to facilitate commencement of claim process and handling.
• The Claims will be considered for settlement strictly in accordance with the terms and conditions of the policy.
• We will guide our policy holders, of claim procedures under a policy including prompt intimation of loss, submission of claim forms and documentations to establish the claim, disclosure of all material facts and compliance with requirements that may be raised by the insurer or Surveyors/investigators.
• We will not charge any fee or remuneration for providing assistance related to the settlement of claims to the Policy holders.

Grievances Redressal

• We accept complaints over phone or in writing or through electronic mail and/or other modes of valid communications, as the case may be from the Policy Holders.
• The policy holders can register their complaints either in the “compliant register” available with branch heads or drop their complaints in the “compliant drop box” available in branches.
• We will take necessary steps for redressal of grievances of the policy holders within 14 days of receipt of such complaint after providing acknowledgement of the same.

For more details regarding LIC products please logon to www.licindia.com