This feature will be completely online and hence, eliminates the need for policyholders from visiting the bank or the life insurer. This offering will also be convenient for senior citizens by eliminating multiple processes for them.
For the Annuity and corporate policyholders, HDFC Life has recently come up with Video Life Certificate, wherein life certificates can be submitted via video recording. This offering, experts believe, will not only simplify life insurance, but also make the journey of customers easier.
This feature will be completely online and hence, eliminates the need for policyholders from visiting the bank or the life insurer. This offering will also be convenient for senior citizens by eliminating multiple processes for them. Srinivasan Parthasarathy, Chief Actuary, and Appointed Actuary, HDFC Life, said, “The Video Life Certificate offers an easy and hassle-free experience. It simplifies the existing process. Submitting the ‘video life certificate’ is convenient and can be done within a matter of a few minutes.”
Role of a life certificate
Annuitants wanting to continue receiving their Annuity, without interruption, need to submit a life certificate document. There are specified time intervals within which the life certificate needs to be submitted. Note that, before submitting, the document needs to be verified from either a bank or a medical practitioner. This process becomes problematic, especially for senior citizens.
For pensioners, similarly, 30th November is the last day to submit the Jeevan Pramaan Patra (life certificate) with their banks or post offices. Failing to do so can put a stop to their pension payments. However, the government has now enabled the submission of the certificate online, to help pensioners, through the Jeevan Pramaan portal, which eliminates the whole process of physically visiting the bank or post office.
What’s the new offering?
With the new service brought in by HDFC Life, policyholders, in the form of a video, can submit their life certificate online. A lot of people, especially senior citizens, will benefit from this development.
Here is how to do it:
- 90 days before the due date of their life certificate, annuity customers will receive a message. The message will have a link along with it.
- Next, you need to click on that link, then record a video of yourself and submit it.
- This video, in this case, becomes the document and serves as the life certificate.
- The process is entirely online and therefore the visit to banks or any office relating the same is totally eliminated