LIC Timeline – New Citizen Charter on Insurance Policy Servicing

Presenting LIC New Timeline introduced through Citizen Charter for improving Insurance Policy servicing benchmarks announced by Life Insurance Corporation of India headquarters applicable on all India basis, Check each service and know the stipulated time frame allotted and complain if required…

As per the new LIC timeline all maturity claim, annuity, pension processing will be completed on or before due date, and you may check in how many days will LIC Death claim to be settled as per the norms and how many days to take for settlement of loan on LIC policy, just check the below table

LIC Citizen Charter with New Services

Type of LIC Service	Quality Benchmarks
Free look cancellation, Surrender, Withdrawal, Request for refund of proposal deposit, Refund of outstanding proposal deposit Above all will be processed subject to receipt of all documents	15 days
Maturity Claim Survival Benefit Annuity / Pension processing subject to receipt of all documents	On or before due date
Raising claim requirements after lodging the claim	15 days
Death claim settlement without investigation requirement	30 days
Death claim settlement / Repudiation with investigation report	120 days
Issuance of LIC policy document after acceptance of the proposal	5 days
Registration of nomination Assignment / Re-assignment and return  of policy document	3 days
Effecting revival Alteration / Issue of duplicate policy on receipt of all requirements	2 days
Loan settlement after receipt of all requirements	3 days
Intimation of status of SSS (Salary Savings Scheme) insurance policies	Once a year along with Bonus information
Effecting change of address/ transfer In-Out and other inquiries under the policies	Same day
Acknowledge a LIC Grievance	3 days
Resolving LIC Grievance	15 days

As per the new timeline of Life Insurance Corporation of India, you may find all the quality benchmarks, and may complain to the authority or higher if not resolved within time given as per LIC Citizen chart, So please know the quality guidelines before approaching the concerned.