LIC Claim Settlement Ratio
*Approximate figures based on publicly available IRDAI data. LIC has one of the highest claim settlement ratios in India.
Death Claim — Step-by-Step Process
The nominee or family member should inform the servicing branch as soon as possible. Call the branch or visit in person. LIC's toll-free number: 1800-2579.
Get Form 3783 (Claimant's Statement) and Form 3816 (Certificate of Death — to be filled by attending physician/hospital).
Original policy bond, death certificate, nominee's ID, bank details, and any medical/hospital records. See complete list below.
Submit all forms and documents to the servicing branch. Get an acknowledgment receipt with the claim reference number.
Non-early claims (policy > 3 years): Minimal investigation, usually fast.
Early claims (death within 3 years): LIC investigates the cause of death and health declarations.
Amount credited directly to the nominee's bank account via NEFT/RTGS. Typically within 15-30 days of complete documentation.
Documents Required for Death Claim
Maturity Claim — How It Works
Maturity claims are much simpler — LIC often processes them automatically:
2-3 months before maturity, LIC sends a letter with the discharge voucher form. If KYC is updated, you may not even need to do anything.
Sign the discharge voucher, attach the original policy bond, and submit to the branch. Many branches now accept this online too.
Maturity amount (SA + Bonus + FAB) is credited directly to your registered bank account within 7-15 days.
💡 Pro Tip: Update your KYC (Aadhaar, PAN, bank details) on the LIC portal well before maturity. If your details are updated, LIC often credits the maturity amount automatically — you may not even need to visit the branch!
What If Your Claim Is Rejected?
If LIC rejects a claim, you have multiple levels of recourse:
LIC must provide detailed written reasons for rejection. Understand the exact grounds.
File a complaint with the LIC Grievance Redressal Officer at the divisional/zonal office.
Approach the Insurance Ombudsman — it's free, no lawyer needed, and the decision is binding on LIC. Find your Ombudsman at igms.irda.gov.in.
File an online complaint with IRDAI (Insurance Regulatory and Development Authority).
File a case in the Consumer Disputes Redressal Forum. For claims up to ₹1 Crore, the District Forum has jurisdiction.
⚠️ Common reasons for rejection: Non-disclosure of pre-existing health conditions (diabetes, heart disease, etc.), death within the first year (suicide clause), lapsed policy with no paid-up value, and incorrect information in the proposal form. Always disclose complete health information when buying a policy.
💡 Expert Tip (Haresh Hirapara): I always tell my clients three things: (1) Never hide health conditions when buying a policy — non-disclosure is the #1 reason for claim rejection. (2) Keep the original policy bond safe and tell your nominee where it is. (3) Update your KYC and nominee details regularly. If you do these three things, your claim will be settled smoothly. LIC's 98%+ settlement ratio proves that genuine claims are almost always paid. Consult your LIC branch or call 1800-2579 for any claim-related queries.
Frequently Asked Questions
This article is for educational and informational purposes only. LIC-Calculator.com is not affiliated with LIC of India. Claim settlement ratios and processing times are approximate based on publicly available data. Procedures may vary by branch and claim type. For official claim procedures, visit licindia.in or contact your branch.
This is not financial advice. Please consult a certified financial advisor or legal professional for claim-related guidance.