LIC settled a record 99.92% of death claims last fiscal
Life Insurance Corporation has pulled off a record claim performance by settling 99.92% of death claims in 2016-17, against the industry average of 95%. LIC is now looking to settle 99% claims on month-on-month basis in the future, a source stated. Further, prompt handling of queries by SMS-based helpline has brought down the number of complaints drastically, the source added.