LIC announces concessions for Cyclone Biparjoy victims

BusinessLIC announces concessions for Cyclone Biparjoy victims

Date:

After the IRDAI directive was released, the insurance regulator LIC (Life Insurance Corporation of India) announced some relaxations to mitigate the difficulties of the insurance policy claimants. It will also involve the policy claimants of Pradhan Mantri Jeevan Jyoti Bima Yojana who were affected by Cyclone Biparjoy.

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In a statement, LIC shared how it has been reaching out to the people affected by Cyclone Biparjoy to give them assistance. This is despite the loss of lives has been less. Nodal officers have been nominated at the Divisional level to liaison with the Chief/Secretary/Officer involved in the State Government in this matter. 

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The company has also started a portal link for the submission of claims online for cyclone victims. 

About the Biparjoy Cyclone:

‘Bijarjoy’ made landfall on the coast of Kutch recently with a windspeed of 115-125 km/hour leading to the loss of property and infrastructure in States affected by the cyclone. There were no deaths reported till now. Biparjoy means disaster in the Bengali language. Its effects have been reduced from a very severe category to severe after the storm came to Gujarat recently. As per the IMD i.e. India Meteorological Department, the cyclone will weaken into a depression from a ‘deep depression’ in the coming 12 hours. In an effort to save people’s lives in Gujarat, 99 trains were canceled on 18 June. 

There has been good coordination between the state and central government to reduce the effects of the cyclone. Also, the state of Gujarat undertook an evacuation process of more than one lakh people to shelter homes within a span of 3 days before Cyclone Biparjoy made landfall in the state. Trees and electric poles had fallen on Thursday evening and some houses were also damaged without loss of any people’s lives. Flood-like situations also occurred in different states like Gujarat and Rajasthan due to heavy rainfall. 

The cyclone is presently in the middle of southern Rajasthan. Heavy rainfalls are predicted in Rajasthan today and tomorrow, they are predicted in Madhya Pradesh. In the next 2-3 days Uttar Pradesh’s southern part is expected to witness rainfall. Monsoon will hit the East of India in 2-3 days.

In total, the cyclone has killed 5 lives as of 16 June 2023. In the wake of the cyclone, medicines and necessary facilities were made available by state officials to the common public in all affected states. 

About LIC:

Recently, LIC has also announced a new policy called the LIC Aadhaar Shila plan, which is a savings and insurance benefits package. It helps to save money over a period of time and use it during periods of emergency. The plan provides maturity benefits if the person insured has completed the maturity timeline. It also comes to aid during crisis times by getting a lending facility and the option of motor insurance. People who are between 8 and 55 are eligible for the new LIC policy. It has maturity periods of 10 and 20 years. The maturity age of the LIC plan is 70 years.

(Image/News Nation)

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