What is the impact of Cyclone Biparjoy on LIC policyholders

Understand the relaxations announced by LIC for people affected by Cyclone Biparjoy
Cyclone Biparjoy hit the eastern coast of India in November 2020, affecting millions of people in the states of Odisha and West Bengal. Life Insurance Corporation of India (LIC) announced some relaxations for its policyholders affected by the cyclone. Here are the key points:
  • LIC has extended the due date for premium payments for policyholders in the affected areas.
  • Grace period for premium payments has been extended from 15 to 30 days, without any late fee.
  • The corporation will waive off the late payment charges and interest for policyholders who were unable to pay their premiums due to the impact of the cyclone.
  • For claims related to death due to Cyclone Biparjoy, LIC has set up a dedicated team to expedite the process and provide quick and hassle-free claim settlements.
  • Policyholders can avail of the services of the nearest LIC branch for assistance and information related to the cyclone and its impact on their policies.
These measures aim to provide relief to the policyholders of LIC affected by the cyclone, enabling them to continue their insurance policies without any disruptions.
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