The Life Insurance Corporation of India (LIC) has reported an increase in unclaimed maturity claims for fiscal year 2024, reaching a total of Rs 880.93 crore. This amount comprises around 3.72 lakh policyholders who have yet to claim their maturity benefits. The LIC, a government-controlled institution, has been trying to settle these claims, but the process has been slow due to various issues. The corporation has explained that about 10,000 policies are still awaiting settlement, and it is taking significant time to resolve these claims due to incomplete or incorrect information provided by the policyholders. The LIC has appealed to its policyholders to provide the required documents and complete their claims process to avoid any further delay. The corporation has also set up a dedicated helpline and email ID to assist policyholders in resolving their claims-related issues. It is crucial for policyholders to stay informed about their policies and ensure that they have the necessary information readily available to process their claims efficiently.
