How can I claim LIC policy after maturity?

Maturity Claims: The servicing Branch usually sends maturity claim intimations two months in advance. 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.

Can we claim LIC policy online after maturity?

The documents will be digitally transferred through LIC’s All India Network.” Due to lockdown and policy restrictions, LIC allowed its policyholders to submit maturity claim related documents online. The required documents were required to be scanned and then submitted via email to the servicing branch.

What happens when your LIC policy matures?

Once the documents are sent to the insurance company, upon verification, the insurance company will process the maturity claim and make the payment to the policyholder. The maturity proceeds will be credited directly to the bank account of the policyholder after the policy maturity date.

What does matured policy mean?

A maturity benefit is a lump-sum amount the insurance company pays you after the maturity of insurance policy. This essentially means that if your insurance policy is for a term of 15 years, you, the insured, will get a pay-out after these 15 years.

What is the maturity claim process for LIC policy?

This maturity claim process applies only to policies that have maturity benefits and bonuses. This does not apply to term insurance covers. If the policyholder does not receive the policy discharge form on time, it is better to check with LIC’s customer service or enquire directly with the branch.

How can I claim my LIC policy online?

The receiver branch will enter the claim in system and payment will be made by parent branch. Normally it Will take 3–4 days. No you can not claim LIC policy online. You have to visit the LIC branch with bond, then submit your bank details. Later they will transfer your maturity amount by NEFT transaction.

What is a policy discharge form from LIC?

When a policy is approaching its maturity date, LIC sends out a policy discharge form to the insured. This is typically done at least a month before the date of 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)