How to claim maturity amt of lic
Nitin jain
(Querist) 06 April 2011
This query is : Resolved
Hello sir/mam,this is the situation that a person is Missing from 2 years and his family is paying the LIC premium from 2 years and they have paid the last installment for that policy...Basically i want to know that how his family can claim for maturity amount.??????..bec they are confused that they dnt have death certificate of that person.....whether nominee can claim and how..?????.....if anyone know the solution for this .... pls tell me...pls....i will be very greatful to you.........you can reply me on my mail-id----anshlove.jain@gmail.com.............
Nitin jain
(Querist) 06 April 2011
Hello sir/mam,this is the situation that a person is Missing from 2 years and his family is paying the LIC premium from 2 years and they have paid the last installment for that policy...Basically i want to know that how his family can claim for maturity amount.??????..bec they are confused that they dnt have death certificate of that person.....whether nominee can claim and how..?????.....if anyone know the solution for this .... pls tell me...pls....i will be very greatful to you.........you can reply me on my mail-id----anshlove.jain@gmail.com......
M V Gupta
(Expert) 07 April 2011
As per the terms of the policy the maturity amount can be claimed only by the policy holder, if he is alive; in the event of his death by the nominee. Nominee's right to claim comes into force only on proof of death. In the case sited by you it would not be possible for the family memebrs to calim the amount in the absenc of proof of death. Unless a period of seven years have expired no one who is missing can be presumed to be dead under law.
Nitin jain
(Querist) 08 April 2011
Dear sir ..u mean to say tha only after a period of 7 years ...the maturity amount can be claimed...but sir can u tell me that after 7 years how his family can claim...??????..if yes ,then how???...and also sir can u tell me where is this rule of 7 years has been stated...?????
Nitin jain
(Querist) 13 April 2011
Dear sir ..u mean to say tha only after a period of 7 years ...the maturity amount can be claimed...but sir can u tell me that after 7 years how his family can claim...??????..if yes ,then how???...and also sir can u tell me where is this rule of 7 years has been stated...?????
