Question

As per the news published in various newspapers, Life Insurance policies may
become paperless in the near future. This means
1) LIC will not insure any person here after as it has already reached its peak
2) LIC will not ask for any documents from a person who wishes to purchase an Insurance policy
3) All policy related documents and policy certificates will henceforth be avail-
able in electronic form and not in their present physical form and not in their present physical form
4) LIC henceforth will not entertain any claim or complaint in written form or on paper. Things should be in electronic condition.
5) None of these

Answer 1

All policy related documents and policy certificates will henceforth be available in electronic form and not in their present physical.

With the increase in the digital era, now it is possible to simply make a transaction or even share documents online without any need of printed documents. Hence, LIC will become paperless since everything will be online only.