The LIA Statement of Life Insurance Practice provides for interest to be payable when the payment of a claim is made more than two months from the date of receipt of written notification of the death; in respect of endowment policy, interest is also payable if payment is made more than two months from the date of maturity. 

Such interest will be calculated using the LIA Claims Interest Rate from the said date of notification until the actual date of payment. The interest rate is updated every three months.