How to claim maturity amt of lic

Nitin jain (Querist) 13 April 2011 This query is : Resolved
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...?????

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Parveen Kr. Aggarwal (Expert) 13 April 2011
Section 108 of the Indian Evidence Act, 1872:

"108. Burden of proving that person is alive who has not been heard of for seven years:- Provided that when the question is whether a man is alive or dead, and it is proved that he has not been heard of for seven years by those who would naturally have heard of him if he had been alive, the burden of proving that he is alive is shifted to the person who affirms it."

Guest (Expert) 15 April 2011
Dear Parveen,

No doubt about the provision of Sec.108 of the IE Act, but one lacuna may come to the fore of which the LIC company can take advantage. In the absence of any intimation to the LIC company about the missing of the policy holder for all that long period of 7 years, the policy must have been treated as discontinued since long for want of payment of LIC premia. In that case what can be the logic to convince the court of law to establish the claim?

R.venkatesh Naidu (Expert) 15 April 2011
do'nt worry. you can claim your money fron lic. the maturity amount was going to original climant when he prove it.

Parveen Kr. Aggarwal (Expert) 18 April 2011
Dear Mr. Dhingra,

Where the querist has stated that he has not intimated the LIC about the insured being missing and who had stated that claim has to be lodged after expiry of seven years' period? The LIC has to be intimated about the insured being missing and claim has to be lodged. Only thereupon the LIC can ask the claimants to wait for seven years in terms of section 108 of the Indian Evidence Act, 1872. Once the claim has been lodged there arises no question of the policy lapsing for non-payment of premia.

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