LIC's unclaimed maturity amounts at Rs 881 cr in FY24: Govt tells LS

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LIC's unclaimed maturity amounts at Rs 881 cr in FY24: Govt tells LS - Business Standard

Quick Summary:

In order to reduce the Unclaimed and Outstanding Claims, LIC has undertaken several measures, including print media and digital media advertisement apart from radio jingles for policyholders to claim their due amounts.

Life Insurance Corporation (LIC) has unclaimed maturity amounts of Rs 880.93 crore in 2023-24, Parliament was informed on Monday.

As many as 3,72,282 policyholders did not claim maturity benefits during FY2024, Minister of State for Finance Pankaj Chaudhary said in a written reply to the Lok Sabha.