How can I check my LIC premium by SMS?

1. Original documents of the policy.
2. A canceled cheque.
3. Request to pay the surrender value.
4. LIC surrender form number 5074.
5. NEFT form of LIC.
6. Account details of your bank.
7. Your original identity proof such as your Aadhar card, driving license, or PAN card.

1. Original policy bond documents.
2. Request for surrender value payment.
3. LIC Surrender form- form 5074.
4. LIC NEFT form.
5. Bank account details.
6. Original ID proof like Aadhar card, pan card or driving license.
7. A cancelled cheque.
8. Hand-written letter to LIC stating the reason to discontinue.

How much money will I get if I surrender my LIC policy?

A policyholder can surrender his/her policy only after the completion of three years, i.e. the policy has to have been in force for a period of three years, at least. The surrender value provided by LIC is essentially 30% of the premiums that have been paid so far.

How can I check if I have a LIC policy?

Check your LIC Policy Status via Call Centre

An integrated voice response system (IVRS) is available 24X7 in almost every city. Customers can reach the LIC just by dialling 1251 from a BSNL or an MTNL number. They have to dial the city code before 1251 if calling from a number other than MTNL or BSNL.

Is there any app for LIC policy?

The services offered by My LIC App include viewing LIC products, LIC Premium, premium comparison, and other LIC features. However, consumers can download the My LIC App to their Apple iOS and Android mobile devices in order to access these services instantly.

How can I set my LIC premium reminder?

What is policy maturity amount?

It simply implies that if your insurance policy has a 15-year term, you, the insured, will get a payout at the end of those 15 years. Generally, the maturity amount meaning refers to the sum of the premiums paid upto that time and the additional benefits which the insurance company chooses to give to the policyholder.

What is the surrender value of LIC policy after 5 years?

Special Surrender Value

If in case, the insurance holder has paid premiums for more than 4 years and less than 5 years, then 90% of the complete maturity sum is provided. If the policyholder is paying premiums for more than 5 years, then he/she receives 100% of the sum assured (maturity amount).

What is the sum assured and maturity amount?

The amount payable on the death of the policyholder is called the sum assured on death or the death benefit. On the other hand, the amount payable to the policyholder on surviving till the end of the policy term is termed sum assured on maturity or maturity benefit.

Is there any app for LIC premium payment?

Payment of LIC premium can be made through Paytm, PhonePe, GooglePay, Amazon Pay, Mobikwik app.

How to write a check for LIC premium?

So from now on while paying your LIC premium through cheque, you have to write “LIC of India, Pol No. ___________”. If you are paying LIC premium through cheque for more than one policy through single cheque, write one number the on the front of the cheque and other numbers behind the cheque.

What is the app to pay LIC premium?

Moreover, LIC premium payment can be done using the official website, net banking, credit cards and UPI apps such as PayTM, PhonePe and Google Pay among others.

What is the name of LIC app?

A virtual Application for LIC Agent has been launched for New Business ,called 'ANANDA'.

How to download life insurance policy?

How do I pay my premium policy online?

Can I withdraw my LIC policy before maturity?

LIC only offers surrender value after you've been paying premiums for 3 years. If you've been paying premiums for less time than that, you can still surrender your policy, but you won't get any money for it. Find your original policy bond. You will need to send a copy of it with your request to surrender your policy.

Will I get my money back if I cancel my LIC policy?

Surrender Value

This is the value which is the amount payable to you should you decide to discontinue the policy and encash the same from LIC. Surrender value is payable only after three full years premiums are paid to LIC. More over if it is a participating policy the Bonus get attached to it as per prevalent rules.

How much money will I get if I surrender my LIC policy before 1 year?

LIC's Rules About Policy Surrender

You will not get any of the premium amounts paid in the first year in your surrender value. In general, the surrender value is returned to the policyholder at 30% of the premium amount.

Can I pay LIC monthly?

LIC Life Insurance Company offers flexibility in premium payment options. As per the Insurance Regulatory and Development Authority of India (IRDAI), insurance companies are allowed to collect premiums monthly, quarterly, half-yearly, and yearly methods.

What is sum assured in LIC policy?

What is the meaning of sum assured? A sum assured is a fixed amount that is paid to the nominee of the plan in the unfortunate event of the policyholder's demise. The insurance company pays this money as per the sum chosen by you at the time of purchasing the policy.

What is the maximum sum assured limit?

What is the maximum amount of sum assured that I can have? Generally there is no upper limit on the sum assured that you can take for your life insurance.

What is total maturity benefit?

Maturity benefits are the sum assured along with bonuses that your life insurance provider pays to you when you survive the policy tenure. Thus, maturity benefits turn regular life insurance products into saving instruments. However, term insurance offers pure protection without any maturity benefits.