look news india
New Delhi: There is a relief news for the people taking insurance from Life Insurance Corporation of India. ACESO, an organization that provides easy solutions to insurance policy holders, has launched ALIP. This is an assignment of life insurance policies. With the help of which policy holders considering policy surrender or policy lapse will get great relief. Life insurance policy holders will be able to easily get their surrender value with the help of this platform. Let us tell you that ALIP operated by ACESO Endowment Services Private Limited is designed to provide maximum value and benefits to LIC policy holders.
Nominees will get life insurance
In addition, ALIP provides year-wise life coverage benefits to the nominees of the policyholder from the date of assignment to the date of maturity in case of accidental death or discontinuation of premiums, irrespective of the surrender value. All this is provided by an independent SPV trust, which is managed by a company registered with the Securities and Exchange Board of India.
ACESO said this
Ranjit Kulkarni, Head of Research and Strategic Acquisitions at ACESO, said, “LIC’s endowment policies contribute significantly to 80 per cent of all its issued policies, playing a vital role in the insurance landscape. However, 50 per cent of these policies are surrendered before maturity or expiry.
He further added, “ALIP gives LIC policyholders a simple option to surrender their policies prematurely, which will ensure that they can receive the value of their insurance policy as well as protect their future life coverage.”
Payment will be made within 48 hours
With the help of ALIP, the policyholder gets his payment in a short time through a faster process. Under ALIP, the payment is usually done within 48 hours after all the required documentation is completed. Moreover, the documentation and KYC process is completed online as quickly as possible, so both the policyholder and his LIC agent do not face any hassle.
