How can I redeem my LIC policy online?

Asked by: Gladyce Bechtelar  |  Last update: February 11, 2022
Score: 4.6/5 (4 votes)

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. Servicing branch may be the branch where you purchased the policy.

How can I withdraw my LIC policy online?

How To Surrender LIC Policy
  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.

Can we withdraw LIC maturity online?

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. This facility was available till June 30, 2020.

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

The policy can be surrendered after it has been in force for at least 3 full years. The Guaranteed Surrender value will be equal to 30% of the total amount of premiums paid excluding the premiums for the first year and all the extra premiums and premiums for accident benefit / term rider.

What happens if I stop paying LIC premium after 4 years?

Life Insurance

Term: If you stop paying premiums, your coverage lapses. Permanent: If you have this type of policy, you will have the following choices: Cash out the policy. This means that you can stop paying the premium and collect the available cash savings.

Lic Policy Surrender कैसे करें before Maturity | How to surrender LIC Policy | lic surrender process

39 related questions found

What happens if I stop paying LIC premium after 3 years?

So if you have already paid 3 years' premium, not paying any future premiums will convert the policy into a paid-up policy. You won't get any money back in the year you turn it into a paid-up policy but will have to wait till the policy's original maturity.

How can I claim my LIC policy?

The requirement for the claim are as given below:
  1. Claim Form 'A' in Form No.3783. If policy has run for 3 years or more from date or risk, claim form no.3783A may be used.
  2. Certified extract from death register.
  3. The original policy document with Deed/s of assignment/s, if any.

How can I check my LIC policy maturity amount?

To check the updates through SMS, one can type "ASKLIC" followed by the policy number and SMS it to the phone number 56767877 made available by the Corporation. "ASKLIC<Policy Number>AMOUNT." All of the queries mentioned above can be resolved by sending the SMS code to the same number, that is, 56767877.

How can I see my LIC policy details?

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.

Which app is best for LIC?

LIC most trusted Insurance Brand of India has launched Mobile Apps for android phone. This app is called as LICMobile. This app is developed for LIC's esteemed customers and Marketing personnel.

Can I get LIC premium receipt online?

Visit the LIC website ( and click on 'LIC's e-Services' under the option which says 'Online Services'. ... The receipt can then be downloaded in PDF form, and you can also print the receipt for your convenience and it can work as receipt duplicate in case you don't have access to your LIC account.

How can I check my LIC policy online without registration?

The Life Insurance Corporation of India provides an SMS number. It can be used to verify the status of a policy without having to register. You need to SMS ASKLIC<policy number>STAT to 56767877 from your registered phone number. Certain official and government procedures require proof of an individual's existence.

How can I know my LIC premium amount?

You can check details of your LIC policy including details of the LIC premium payment online, accrued bonuses, group schemes, etc. by simply logging on to the official website of LIC India with your LIC login credentials.

How can I know my LIC policy date?

# Contact your Agent

The best and easiest way is to contact your agent. Provide him your name and date of birth (as per LIC records). Using his business details or by login to agent portal, he will easily find out the policy number and can share you.

How can I get my money back from LIC policy?

The revival of LIC Insurance policy can be done in 5 ways:
  1. Ordinary Revival. The policyholder can revive their lapsed life insurance policy by paying all the unpaid premiums including the interests altogether. ...
  2. Special Revival. ...
  3. Installment Revival. ...
  4. Survival Benefits Cum-Revival Scheme. ...
  5. Loan Cum Revival Scheme.

What happens to LIC policy after death?

The death claim amount is payable in case of policies where premiums are paid up-to-date or where the death occurs within the days of grace. ... The following additional forms are called for if death occurs within three years from the date of risk or from date of revival/reinstatement.

Is LIC better than FD?

Fixed deposit is always a better option to invest as it is purely designed for your investment and savings related needs. ... Fixed deposits are best for both short- and medium-term investments whereas life insurance plans are designed for long term investments.

Do I get money back if I cancel my life insurance?

Do I get my money back if I cancel my life insurance policy? You don't get money back after canceling term life insurance unless you cancel during the free look period or mid-billing cycle. You may receive some money from your cash value if you cancel a whole life policy, but any gains are taxed as income.

How can I transfer my LIC policy from one branch to another online?

Simply write the mail or give a written request to your home LIC BRANCH mentioning the name of the new LIC BRANCH and your LIC POLICY will be shifted from your old LIC BRANCH to new LIC BRANCH which you demanded.

What is the due date of LIC premium?

When To Pay The Premiums

LIC usually sends premium notices one month in advance to the due month of the premium. The due months of the premium are given in front page of the Policy bond. The grace period for policies where the premium payment mode is monthly is 15 days from the due date.

How can I know my LIC policy number by SMS?

You just need to send SMS on 56677 to know status of your LIC policy. If you want to know premium of your LIC policy, you need to type 'ASKLIC PREMIUM' and send the SMS on 56677. If your policy has lapsed, you can type 'ASKLIC REVIVAL' and send it on 56677.

How can I register my mobile number in LIC?

How to update LIC contact details online:
  1. First of all, visit the official website of LIC
  2. Go to the customer services section on the home page and click on the Update Your Contact Details- online option at the bottom.
  3. Click on Update Your Contact Details link.

How can I download LIC certificate?

Follow steps given below to download LIC Premium Paid Certificate Online.
  1. Register Online for LIC e-Services. ...
  2. Login to e-Service Portal. ...
  3. Go to the Basic Services. ...
  4. Go to Policy Premium Paid Statement. ...
  5. Select Policy for Premium Paid Statement. ...
  6. Generate a premium paid certificate.

What is the name of LIC app?

Life Insurance Corporation of India (LIC) has launched Ananda mobile app.

Is there any app of LIC of India?

LICMobile - Android Apps on Google Play. "OFFICIAL MOBILE APPLICATION FROM LIFE INSURANCE CORPORATION OF INDIA" <br>Application developed for our Esteemed Customers and Marketing Personnel.