The Life Insurance Corporation (LIC) has announced that its branches will remain open during the upcoming weekend and even on Monday, which is a holiday on account of Eid in many parts of the country. This decision is aimed at facilitating policyholders to deposit their premium on time. According to an official statement, LIC’s offices under the jurisdiction of zones and divisions will operate normally on March 29, March 30, and March 31, which are regular working days.
This move is in line with the advisory issued by the Insurance Regulatory and Development Authority of India (IRDAI) dated March 12, 2025. The IRDAI’s advisory is likely designed to ensure that policyholders do not face any difficulties in depositing their premiums, which is essential to maintain the continuity of their insurance coverage.
By keeping its branches open, LIC is providing an opportunity for policyholders to deposit their premiums in a timely manner, thereby ensuring that their insurance coverage remains uninterrupted. This decision is likely to be welcomed by policyholders who may have been facing difficulties in depositing their premiums due to the holiday on Monday.
In conclusion, LIC’s decision to keep its branches open during the weekend and on Monday is a customer-centric move aimed at ensuring that policyholders can deposit their premiums on time and maintain the continuity of their insurance coverage. This decision is in line with the IRDAI’s advisory and is likely to be beneficial for policyholders.