Kolkata: In a press release by the Life Insurance Corporation (LIC), they have informed that in case of the death of an insured person, the company will be giving his insured money to his nominee within one month.
It has been seen that in 99.43 % cases, the monetary dues have been settled within one month of the insured person’s death. Till October this year, 96.40 % of such needs were settled.
In 2017-18 financial year, 11 thousand 817 crores rupees were settled due to the expiry of 32.8 lakh insurances. On the other hand, 5021 crores of rupees were settled till October this year as 12 lakh 3 thousand insurances expired.
In case of 92 thousand 848 death cases, 1178 crores 99 lakh rupees were settled. Now, for 50 thousand 886 death cases, 657 crore 58 lakh rupees were given.