WHY LIC IS WORST IN DEATH CLAIMS?

Maybe, you have been misinformed. LIC is the best among death claims. The service has improved very much. Try to get a death claim settled among the Private players, you will find it disgusting. They are more interested in the premia paid by you, and when it comes to parting of money by them, you are sometimes compelled to seek legal recourse, through the ombudsman to claim the amount.

LIC is having highest death claim settlement ratio. If someone have filled the form accurately there is a very little chance that claim get dishonored.

Contract is terminated with the death? Dead man will not come back to command the service of any body originally contracted to keep him insured and the claimant is at the mercy of the insurer. Claimant is a totally new man at our premises. The policy amount is not fully paid up for the whole amount or the agreed premium. When the policy amount is paid before the due date it it has to be ensured beyond doubt that the insured is no more. Even if there is a doubt the benefit of doubt will go to the accused.

All the Insurers follow suit.