Why to have a Life Insurance?

While serving in the Indian Air Force for 39 years, I never realized to have a life insurance policy for myself or my family members. I was getting my salary every month on time and almost all the basic requirement of my family was met with the petty amount I used to get and send home through Indian Post. During intial times of the Indian Air Force Service, there were a lot of responsibilities on a small boy of 18 years because I had to look after the expenditure of my parents and my uncle, who was a tuberculosis patient, surviving on regular medicines. My younger brothers were studying in primary school at my native village and their schooling expenditure was too borne by me. A lower middle class family of six members was totally dependant on a young air warrior who was the sole cash earning person in the family. I was feeling great to serve my family members and could provide all possible assistance to them. Then I was a cheerful person having all around satisfaction.

I had retired from Indian Air Force in Apr 2016 with a lot of applause and laurrel, having Presidential awards of Honourary Commission of Flight Lieutenant Rank. In the very next month I went to attend a marriage of my cousin sister’s daughter. my neice by relation in my native village area (Distt- Rohtas). There I met a widow whom I knew from my childhood. She recognized me and called me by my name. Unfortunately I could not recognize her till she revealed her identity. She commented adversely that I have become a big person so I could not recognise her. However it was not the actual reason. She had become very weak and sick having lost all the charms of her face. I had seen her when she was about 18 years old. She was almost ten years younger to me but in the personal appearance she was looking much elder to me. I suddenly questioned, what happened?. She started crying and narrated story of her husband’s death in train accident.

After conclusion of marriage functions I went to her village where I used to go a number of times from my childhood. She was having two young children (a son and a daughter) of about 12 and 15 years. There was no source of income except a small landed property which her inlaws gave her as her share. A small old ancestral kacha khaprail house of one room and a kitchen which were in the very bad condition, surely they were going to collaps in next rainy season. I asked her how can I help you? She cried and told me Bhaiya he (her husband) had taken an Insurance policy of Two Lakhs, just two years ago before his death. She gave me the bond paper. I was not having any idea what to do with the bond paper. I took it to my home at Gola Road, Danapur (Patna). Next day I went to LIC Office at Exhibition Road, Patna. At the enquiry counter I came to know that two yearly premiums of Rs. 6,250/- has been paid. If nominee of the policy wish to claim the Insurance as death claim it will be “an early claim” and some of the specific documents like death certificate, reason for death, affidavit, claim form with signature of two witnesses etc will be required. I decided myself to complete all these required formalities and help the poor lady.

Next day I went back to Sasaram by Intercity train and then to the ladies village with all the required forms. I filled up all the forms taking verbal information, voter ID and Adhar Card. Next day I went to LIC branch Sasaram with a local LIC agent and submitted the claim. I had a discussion with LIC branch manager of Sasaram and he assured me to provide all possible help within the existing regulations. He also asued me that since death claim has been submitted late (after two years of death), it will take some time in payment. I took mobile number of the branch manager to have regular feed back for early processing of that death claim. I came back to my home and waited for 15 days. Thereafter I called LIC branch manager at Sasaram and he informed me that the Claim has been sent by post to LIC Patna- 2 branch for approval. Nextday I went to LIC Patna- 2 brach for enquiry. There I was informed that “an early death laim” has been submmited after two years so it has become timebarred. Hence it will require approval of higher LIC officials. I then asked what to do now. A LIC staff suggested me to meet Zonal Manager, if you want settlement of the claim at the earliest. I did that and LIC higher officials were kind anough to consider the claim. After verification and carrying out an independant survey of the death case, the claim was approved within three months. The brieved lady (nominee of the insurer) got a cheque of Rs. 4,07,850 (Rupees four Lakhs eight hundred fifty) from LIC of India on 28 Jul 2016 as an ac cidental death cover. However the amount was not sufficient to meet her all requirement but with the amount she was able to built two small Rooms, a kitchen and boundary wall for the house. She purchased a sewing machine for her professional work for which she was trained. She also got admission of her children in a primary school. Now she is living happily at her home with her children. LIC of India and me got a lot of blessing from the lady.

LIC of India could not make her rich but provided her a better life above poverty level. It stopped her to remain poor. Her children got admitted to better school and she had her own house for life time. On payment of Rs. 6,250/- by her husband in two instalments, LIC of india paid her Rs. 4,07,850/-. How Great? I salute LIC of India.


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