Big relief for LIC policy holders! Easy to surrender policy with this new app

New Delhi. There are crores of LIC policy holders within the nation and there’s a information of relief for all of them. Actually, ACESO, a corporation that gives simple resolution service to insurance coverage policy holders, has launched ALIP (Assignment of Life Insurance Policies).

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With its assist, policyholders who’re contemplating policy lapse or surrender will get nice relief. Because, life insurance coverage policy holders shall be ready to simply get the surrender worth of their policy with the assistance of this platform. ALIP will present different services aside from surrender worth. In which it’ll inform the policyholders about the advantages associated to life protection 12 months after 12 months from the beginning of the policy until the maturity date. At the identical time, in case of dying of the policyholder, all the knowledge and providers associated to the policy shall be supplied to the nominee.

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Payment in 48 hours, how?

What units ALIP aside from receiving surrender worth from the insurance coverage firm is its quicker and higher fee course of. Claim consideration is normally began inside 48 hours after all of the required paperwork for policy surrender are accomplished. Apart from this, efforts are made to do your complete documentation and KYC course of on-line, which reduces the trouble for each the policyholder and the LIC agent.

Ranjit Kulkarni, Head of Research at ACESO, mentioned, “LIC points about 80% endowment insurance policies. However, 50% of those insurance policies are surrendered earlier than maturity or lapse. He mentioned that ALIP provides LIC insured individuals a easy possibility to surrender their insurance policies earlier than time.

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