ACESO, an organization that provides easy solutions to insurance policy holders, has launched ALIP. With the help of which policy holders who are considering surrendering their LIC policy or letting the policy lapse will get great relief.
New Delhi: There is a relief news for the people who have taken 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 who are considering policy surrender or policy lapse will get a big 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 coverage
Furthermore, ALIP provides year-wise life coverage benefits from the date of assignment to the date of maturity to the nominees of the policyholder in case of accidental death or lapse of premiums, irrespective of the surrender value only. 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 a significant 80 per cent of all its policies issued, which plays a vital role in the insurance landscape. However, 50 per cent of these policies are surrendered before maturity or lapse.
He further said that ALIP gives LIC insured people a simple option to surrender their policies prematurely, which will ensure that they can unlock their insurance policy value while also protecting their future life coverage.”
Payment will be made within 48 hours
With the help of ALIP, the policyholder receives his payment in a short time through a faster process. Under ALIP, payment is usually made within 48 hours after completion of all the required documentation. Apart from this, the documentation and KYC process is completed online as quickly as possible, so both the policyholder and his LIC agent do not have to face any hassle.
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