Tag Archives: Can I take maturity from other branch?

EDMS in LIC OF INDIA?
Posted by:V.K. sharma, August - 15 - 2012

LIC is the biggest life Insurance Company in India. Very few people know that LIC is the 2nd biggest PC user company in India, but how it is helpful for its policyholders. Policy holders used to worry about if they have taken policy from places far from their native places, how they will get services like mode change, reviving their lapse policies, taking loan on them, surrendering & death claim payments from other branches, etc?

Now there is good news for them or for all policy holders of LIC OF INDIA. Few year ago may be in 2007, EDMS (Enterprise Data Management System) started a project in LIC OF INDIA towards making LIC paperless.In this project LIC’s policies are to be scanned and uploaded in the form of pictures, which are to be accessible in all branches of LIC OF INDIA through intranet. But the question is How it is related to providing services like mode change, reviving their lapse policies, taking loan on them, surrendering & death claim payments from other branches, etc.

Almost all the policies are scanned and new policies issued are also scanned with in 2 months time from the date of their issue. In this process of scanning each and every thing proposal form, documents given and all reports are scanned.

In past the documents were not available in any branch regarding a particular policy so servicing was not possible.

Now all the above mentioned services will be possible in any branch of LIC once this project will be completed (May be in a year for old policies or may be completed). But as stated above that many policies are already scanned so if the image of your policy is available in any other branch of LIC through intranet then any kind of service is possible in any branch of LIC.

So for new policy holders, there is no point of concern regarding above mentioned services as the documents related to their fresh policies will definitely be scanned and all services will be possible in any branch of LIC.

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