How to Check LIC Policy Benefits Online and Offline?

What are LIC Policy Benefits?

Every LIC policy comes with distinct benefits, as they are designed to meet the diverse needs of policyholders from different backgrounds. Therefore, having a comprehensive understanding of the policy details and the advantages an individual gets by subscribing to a policy is essential.

The benefits of LIC life insurance and term insurance may depend on factors such as your age, health, lifestyle, chosen policy term, and sum assured. Different LIC policies offer different benefits, so it is important to prioritize your financial goals and choose a plan based on your needs and situation.

An LIC policy benefits check list can help you compare your options and select the right policy. Whether you are looking for comprehensive life insurance coverage, affordable term insurance, financial protection for your family, or long-term financial security, start by listing your requirements and financial plans. You can then compare the features and benefits of different LIC policies to identify the plan that best suits your needs.

Methods of Checking LIC Policy Benefits

An overview of a life insurance policy is not enough to purchase and invest in a certain type of plan. You need to get an inclusive idea about the plan and its benefits. There are various methods of checking the policy details and benefits of the desired plan. There are two main ways of checking the LIC policy benefits: the online method, which is more reliable and user-friendly, and the offline method, which shows the LIC policy details through branch visits.

Online Method

• Step 1: Visit the official website of the Life Insurance Corporation of India (LIC)

• Step 2: Then choose the “Products” option present at the top menu of the home page.

• Step 3: This section will now open a drop-down menu with different types of insurance, such as Insurance Plans, Pension Plans, ULIPs, Micro Insurance Plans, Withdrawal Plans, and Health Plans.

• Step 4: An individual must choose the type of plan they desire.

• Step 5: After selecting the type of plan, the page will automatically open to the insurances available under that plan.

• Step 6: Click on the desired policy plan.

• Step 7: Select “Sales Brochure”

• Step 8: The brochure will have policy benefits explained in detail.

• Step 9: An individual can verify the policy's benefits from the document.

• Step 10: The "Policy Document" can be downloaded from the same page as the sales brochure.

Offline Method

LIC Customer Zones are spread all over India. If an individual is willing to do the whole process offline, from checking LIC policy details to getting an idea of the policy benefits to purchasing the policy, they can walk into their nearest LIC Customer Zone and get the assistance of an insurance advisor.

The insurance advisor will help the policy-seeker in every possible way. The advisor will provide the individual with a brochure and policy documents, available online, and suggest plans according to the individual's requirements and demands. The advantage of offline checking the policy benefits is that the customer will get assistance and expertise from an advisor in choosing the right policy. Individuals can also connect to the LIC Call Center at 022 6827 6827.

How to Re-check the Benefits of a Purchased LIC Policy?

LIC Policy benefits are available to check under the policy details section on their customer portal, after purchasing the plan. There are two methods of checking the policy details after purchasing the policy, and they are as follows:

Through Online Account

For Registered Users:

Step1: Visit the customer portal.
Step 2: Click on “Registered User”
Step 3: Fill in the given credentials like user id, password and date of birth.
Step 4: Click “Proceed”
Step 5: Search for “Self” or “Policies”
Step 6: Customers must choose the policy they want to check the benefits of.
Step 7: Choose “Policy Details”
Step 8: This section will show the policy details including the policy benefits.

For New Users:

Step 1: Visit the LIC’s customer portal.
Step 2: Click on “New User”
Step 3: Fill in the required credentials such as name, policy number, gender, PAN ID, date of birth, premium payments, registered mail ID and phone number.
Step 4: Click Proceed.
Step 5: Create a password.
Step 6: Click “Submit”
Step 7: Then go to “Policy Details”
Step 8: Policy benefits will be available under this section.

Offline Method

LIC offers an offline mode to ensure that customers do not miss essential updates, even if they do not want to log in to their online accounts. If an individual wants to persist in the offline method throughout the insurance process and check their purchased policy benefits offline, there are four methods. The methods are:

• Through Calling Customer Care: Policyholders can access instant updates about their insurance or LIC premium payments via LIC IRVS services. Users can easily get the policy details and benefits by entering the policy number. Helpline numbers are listed below:

  • MTNL and BSNL Users: 1251Other users:

  • City code followed by 1251

• Through Customer Care (Zone Wise): Policyholders can also contact the regional offices in case of any policy details. The regional offices are divided among eight zones throughout the whole Indian Territory. Customers can get the service numbers of the regional offices and contact them by phone.

• Through SMS Services: An individual can know the policy details via SMS services. All they need to do is send an SMS from the registered mobile no. by typing “ASKLIC” followed by the policy number to 56767877 or 9222492224 to get the policy details. It will automatically show the policy details, including the policy benefits. If an individual wants to know more about the bonus and additional benefits, they may refer to the code “ASKLIC BONUS” for an inclusive idea.

• Through the branch office or by calling an agent: These are the traditional methods of getting insight into the policy details. Customers can walk into any nearest LIC branch office and get their policy details and benefits re-checked. An individual can also reach an agent via calling services and learn about their policy benefits. This process carries many drawbacks. The two most concerning factors are time-consumingness and reliability. Policyholders can choose either offline or online quick SMS services, which is the most reliable and time-saving method.

Common Benefits of LIC Policy

Every policy-seeker wants to maximize their money and get an inclusive idea about the benefits before making LIC premium payments and committing to the policy. There are some common benefits that every LIC policy offers and they are:

• Death Benefits

• Tax Benefits

• Investment Return

• Loan benefits

• Rider Benefits (Additional)

• Maturity Benefits (Dependable)

• Survival Benefits (Dependable)

How To Determine The Right LIC Policy According To Benefits?

There are many LIC policies to choose from, and it can be difficult to determine which one is best for you. To make an informed decision, consider the following aspects.

• Financial Goals: Set up your financial goals and type of coverage. Do you want to save, protect or both?

• Investment Capacity: Decide your investment amount with respect to the policy. This will help you narrow down on options that will fit in your budget.

• Coverage Needs: Check if the policy's coverage amount is adequate for your financial needs and objectives.

• Policy Benefits: Examine the advantages provided by the policy to make sure they fit your requirements and expectations.

• Additional Benefits: See if there are any extra benefits/ features that might be beneficial to you.

• Flexibility: Check for flexibility in withdrawals, loans or other changes made to the policy.

The answers to these questions will help you better understand your needs and select the type of LIC policy that will suit your financial objectives.

Summing It Up

Individuals can monitor their policies regularly to check LIC policy benefits and keep track of LIC premium payments. LIC has acknowledged its customers' convenience and introduced streamlined online services, which aid in checking the policy benefits quickly and efficiently in the hectic schedule of modern existence. The company has also improved its offline services so that customers who prefer offline processes can check their policy benefits readily through offline services.

Customers can check their LIC policy benefits by policy number so they must prepare their policy number beforehand for both online or offline ways. Using your policy number to check details is one of the most convenient ways. The above-mentioned procedure will help check the policy benefits before purchasing and making the LIC premium payments. It will also aid in re-checking the benefits of an already purchased plan.

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