How can I surrender my LIC policy without original bond?
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How can I surrender my LIC policy without original bond?
When you lose your original life insurance policy bond, you must inform your insurer at the earliest. Visit the nearest branch of your insurer and talk to concerned authorities regarding the loss. You need to submit an application mentioning the following details: Your name in full.
What if my original LIC policy is lost?
If the policy is lost or destroyed, claim or sum assured will be paid to the claimant or policyholder after he/she furnishes an indemnity bond jointly with one surety. Similarly, a policy can be surrendered even if the original policy document is lost.
What are the documents required for surrendering LIC policy?
The following are the documents that are mandatory for surrendering LIC policy: The policy bond (original document) Physical copy of LIC Policy Surrender Form No. 5074.
Can we surrender our LIC policy online?
First keep in mind that as of now Surrendering LIC policy is not possible ONLINE. Also, you have to surrender the LIC policy at your servicing LIC branch ONLY. The reason for this is, your all policy documents like proposal forms, loan details and all other details will be available at servicing branch only.
What is the procedure to get duplicate LIC Bond?
How to apply for a LIC duplicate bond?
- Placement of advertisement.
- Submit the Indemnity Bond.
- Fill the loss of policy bond questionnaire.
- Submission of Bond, Questionnaire, and Documents.
- Issue of duplicate bond.
How can I download LIC policy?
To download the LIC premium payment receipt online, you need to be a registered user of LIC’s e-Services. Visit LIC Homepage and click on the link called LIC e-Services that is available on “Online Services”. Click on the tab “Registered User”.
Can I withdraw LIC policy?
A policyholder can surrender his/her policy only after the completion of 3 years, i.e. the policy has to have been in force for a period of 3 years, at least. The surrender value provided by LIC is essentially 30\% of the premiums that have been paid so far.
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