HYDERABAD: For anyone wanting to claim insurance under Rythu Bima scheme, settlements for claims would be made within 24 hours, assured Life Insurance Corporation (LIC).
The scheme, that provides insurance cover of `5 lakh, had been launched on August 14 by the government of Telangana. On the same day, three persons lost lives and the claim amount has been credited to their savings bank accounts, Suseel Kumar, Zonal Manager, LIC, South Central Zone said in a press statement. A direct benefit transfer is initiated to the nominee’s account in case of the death of the insured person, he added.
LIC has made all arrangements to run the Scheme on electronic basis to process the claims within a turn-around time of 10 days.