On the occurrence of the event insured against, life insurance is a contract that promises payment of an amount to the person guaranteed (or his nominee).The contract is valid for the payment of the insured amount throughout the following time periods:

» The maturity date, or

« Predetermined dates at regular intervals, or

« Unexpected death, if it occurs sooner.

The policyholder is required to pay premiums to the Corporation on a regular basis, according to the contract. Life insurance is commonly recognised as an institution that removes “risk” replacing uncertainty with certainty, and comes to the family’s help in the tragic event of the breadwinner’s death.

How can you check the status of LIC policy?

By simply going on to the official website of LIC India using your login credentials, you may check your LIC policy data, including data of premium payments, accumulated bonuses, group programmes, and so on. If you have registered for your own LIC insurance, follow the procedures below to track its status:

Step 1: The first step is to go to the LIC’s e-Service Portal. You will see two alternatives on the screen, namely, new user and registered user. Select the appropriate option.

Step 2: Enter your login details, which are your User Name and Password.

Step 3: Once you’ve entered into your LIC Services Account, you’ll notice a number of options linked to the account or your insurance policy. You must now click on  ‘policy status’ tab.

Step 4: You’ll get a list of all your policies that are linked to the appropriate account. If you have more than one policy and it is not shown in the list, you can utilise the ‘Enrol Policy’ option in the LIC’s e-Services Tools section to add your LIC policies.

Step 5: You can now follow the specifics of your insurance by simply clicking on the policy number in the  list The policy information, including the policy name, term, table number, and next premium due date. The sum promised and other information will be provided.

How to register on LIC for a new user?

Step 1:  The insured must go to the company’s official website. The Online Services tab may be found on the left side of the Home Page.

Step 2:  Following, click the LIC e-Services link, which will take you to the next page, where you’ll notice the ‘New User’ tab is where you may create a new user.

Step 3: Click the ‘New User’ button, which will take you to a page where you must fill up your information that is your policy’s specifics.

• Number of Policy: It has to be a current LIC insurance in your name.
• Premium for Instalments: This is the amount of premiums paid, less any service tax that must be recorded.
• Year of Birth: The date of birth must be in the format DD/MM/YYYY
• Mobile number: To get premium alert , like payment reminders, insurance maturity reminders, and premium reminders, among other things the insured must provide a valid phone number.
• Email address: The insured must provide a current email address.

Step 4: After you’ve entered all of the essential information, check the radio button and go on to the next screen.

Step 5: After selecting your preferred User ID and password, click the Submit button. You will be logged into your account when the registration is complete.

How can you check the status of my LIC policy without registering?

LIC policyholders may check the status of their insurance via a simple SMS approach. Without needing to register, the Life Insurance Corporation of India provides an SMS number that may be used to check the status of a policy. From the phone number you provided, send the letter SM to the number 56767877. Another option is to use the policy number to verify the status of a LIC insurance. Simply text the word  ‘ASKLIC’ to 56767877. The methods to register and get various types of updates and information to your registered phone number and email address are outlined below.

1. Go to the official website’s homepage and select the online service tab. Go to the official e-service website after that. This will open a new user registration tab for you.
2. When you click the new user tab, you’ll be sent to a new page where you’ll be asked to fill out some information. Check all of the information again, and if everything is accurate, click the next button. Within five working days, the system will automatically erase any incorrect data.
3. The policy number must be in your name, and it must be valid for LIC insurance. Following that, all instalment premiums and monthly payments must be current, and your date of birth must be in the format DD/MM/YYYY
4. You need also have a registered email address and a registered cellphone number in order to receive policy changes such as payments and policy maturity dates.
5. After selecting the user id and verifying the password, click the submit button. The new client will use the information to log into the policy account and check the status of the policy as well as execute other insurance-related duties.

Conclusion

LIC perception is at the top of the trust business. Every investment is assumed to be backed by the government. Since its inception, India has been a government-dominated economy, with public institutions such as PSU banks and the Life Insurance Corporation of India (LIC) enjoying widespread confidence. This is in a country where the private sector is seen as a model of crony capitalism. I don’t hold it against anyone. Prior to the IT and e-commerce boom a decade ago, it was rare to identify an Indian businessman who had made a fortune without the help of the government. In such a situation, the only reliable institution was anything with government support.

Frequently Asked Questions:-

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