Can the LIC policy maturity amount be credited to an NRO account?

Claims/maturity proceeds/surrender value in respect of rupee life insurance policies issued to non-resident Indians for which premia have been collected in non-repatriable rupees may be paid only in rupees by credit to NRO account of the beneficiary.

How can I withdraw my LIC maturity amount online?

Maturity Claims:

1. It is our endeavour to settle your maturity claim on or before the due date.
2. Please submit your Discharged Receipt in Form No.3825 with original policy document atleast one month before the due date so that the payment is received before the due date of maturity claim.

How can I save tax on my LIC policy?

1. Tax exemption offered under section 80C on life insurance policies from LIC: If you have purchased a life insurance policy on or before 31st March 2012 in your own name or in the name of spouse or child, then up to 20\% of tax deduction can be availed on the premium paid towards life insurance policy.

How can I claim amount from LIC of India after maturity?

Claiming amount from LIC of India after maturity is very simple. My clients are all over the world. They just call me and send the required documents. Their maturity amount would transferred as soon as possible by LIC of India.

How to claim LIC policy bond in India?

Attach the original Policy Bond and send all the papers directly to the Branch Manager. If your original policy Bond is in India, request someone to hand over the bond to the Branch Manager. This should solve the problem. LIC paying maturity claim in India in Indian rupees only, he/she must provide NRI account detail to LIC.

What is money back policy in LIC India?

2- Money Back Plans: In LIC India’s Money Back Policies give periodical amount to the policyholders. In these cases, where amount payable is less than up to Rs.60,000/-, cheques are released without calling for the Discharge Receipt or Policy Document.

Is the maturity amount of an LIC policy exempt from tax?

Yes, Exemption under section 10 (10D) on Maturity amount received –When the premium paid on the policy does not exceed 10\% of the sum assured – any amount received on maturity of a life insurance policy or amount received as bonus is fully exempt from Income Tax. Be Peaceful !!! How do I claim an LIC maturity policy?