Can I claim LIC maturity amount at any branch?

Life Insurance Corporation of India (LIC) has permitted its policyholders to submit their maturity claim at any of their nearest LIC offices anywhere in the country till the end of this month. The documents will be digitally transferred through ‘LIC’s All India Network’,” it added.

How can I change my bank details in LIC?

1. Step 1: Log in to LIC portal.
2. Step 2: Select Service request to Register NEFT online.
3. Step 3: Policy Selection for NEFT Registration.
4. Step 4: OTP validation for varification.
5. Step 5: Fill your bank details.
6. Step 6: Generate the NEFT form.
7. Step 7: Upload NEFT form to register NEFT details.

How do I know my LIC policy is mature?

How to Check LIC Policy Details Online?

1. Step 1: Go to the official LIC website, fill in your credentials like username and password.
2. Step 2: Login to your account and select the option ‘View Enrolled Policies’.
3. Step 3: You will be directed to a page where you can see all the listed enrolled policies.

Can I withdraw my LIC policy from any branch?

The LIC policy can only be surrendered at the branch, where it’s currently being served (i.e. Servicing Branch). So you need to change the policy servicing branch first, before surrendering it.

Can I link my bank account number to LIC policy online?

LIC started to accepting NEFT mandate form on their online portal. Now LIC add an option to add Bank account with the policies for their customers. So policy holders can add their bank accounts against their policies online so that they can received the policy amount from LIC.

What is nach account?

NACH Credit is an electronic payment service used by an institution for affording credits to a large number of beneficiaries in their bank accounts for the payment of dividend, interest, salary, pension etc. by raising a single debit to the bank account of the user institution.

What happens to my policy when it matures?

Your policy reaches maturity at the date stated on your policy bond – this is the date on which the cash value of your policy is equal to your death benefit. To close your policy before this date, go through the process of surrendering it to LIC. The amount of money you’ll get for your policy depends on how long you’ve been paying premiums.

How do I Close my LIC policy before maturity?

To close your policy before this date, go through the process of surrendering it to LIC. The amount of money you’ll get for your policy depends on how long you’ve been paying premiums. However, be aware that you will lose money if you surrender your policy before it reaches maturity.

How to transfer LIC policy to another policyholder?

1 Original LIC Policy Document 2 Identity Proof 3 Age Proof (if not submitted previously) 4 Cancelled Cheque leaf or a copy of the Policy holder’s Bank Passbook 5 NEFT Mandate Form (to transfer the maturity proceeds directly to the policyholder’s account) 6 Assignment/ Reassignment (if any)

How to withdraw the insurance policy amount post maturity in LIC?

After the maturity of a life insurance policy, one has to withdraw it by following the set rules and regulations as laid down by the respective insurance firm. Lets understand the procedure through which one can withdraw the insurance policy amount post maturity in LIC.