How To Know My LIC Policy Details?

As a customer, if you have any questions, such as “How can I check my LIC policy details online?” or “Can I get my LIC policy details by policy number only?”, this blog answers all of them.

What Are LIC Policy Details?

LIC policy details all the essential information associated with your LIC policy. These details record your policy's current status, benefits, and terms, and are crucial for managing the policy throughout its life cycle. They help policyholders stay informed, make timely decisions, and ensure that the policy serves its intended purpose, whether for protection, savings, or long-term financial planning.

Key LIC Policy Details You Should Know

1.  Policy Number and Identification

   Your policy number is the most important LIC policy detail. It's usually printed on your policy bond, premium receipts, or emails from LIC. If you misplace it, you can do an LIC policy number check at your nearest LIC branch or by calling the LIC customer care toll-free number.

   Why is it Important:

   Your LIC policy number is important because it’s needed for any policy check or enquiry. It helps LIC give you accurate details about your plan and makes it easier to manage if you have more than one policy. Keeping it handy saves time and avoids confusion.

   How to know LIC policy number:

   You can find your policy number on the bond, premium receipts, or through an LIC policy number check at your nearest LIC branch or via customer care.

2. Policy Status

   Your LIC policy status indicates whether your plan is active, lapsed, paid-up, matured or surrendered. Doing a quick LIC policy status check helps confirm you’re still covered.

   Why is it Important:

   Knowing your policy status helps you confirm that your insurance cover is active. It also lets you take quick action if your policy has lapsed, so you can revive it within the allowed time and continue your protection without worry.

   How to check LIC policy status:

   Individuals can visit the LIC website, mobile app, or branch. A quick LIC policy check online gives you your current status in seconds. If you want to know how to check LIC policy details by policy number, you can also check from platforms like Policybazaar.

3. Premium Details

   Paying premium is what keeps your LIC insurance policy active. The premium details of your LIC policy include the amount you pay, the frequency, and the due date of your next payment.

   Why is it Important:

   Understanding your premium details helps you pay on time and keep your policy active. It also prevents lapses and makes budgeting easier since you always know when your next payment is due.

   How to know LIC premium details:

   You can log in to your LIC account or use the LIC app to view premium information under your LIC plan details.

4. Bonuses and Maturity Amount

   Many LIC plans earn annual bonuses that add to your payout at the time of death oir maturity. Checking the LIC policy details about bonus, helps you estimate your maturity value.

   Why is it Important:

   Checking your bonus and maturity details shows how much your policy has grown over time. It helps you understand the real value of your investment and how much profit your policy has earned so far.

   How to know LIC bonus and maturity amount:

   On the LIC website or mobile app, sign in to your online LIC account and view your LIC policy details list, where bonuses and expected maturity amounts are clearly shown.

5. Loan Option

   After paying premiums for a few years, your LIC policy becomes eligible for a loan. Most LIC policies offer loans after 1 full year of premium payment to address the customers’ emergency needs.

   Why is it Important:

   Knowing your loan eligibility and limit can be very helpful during emergencies. It lets you borrow money easily without losing your insurance coverage or breaking your policy.

   How to know the details of Loan against LIC policy:

   Check your eligibility for a policy loan through your LIC login or contact your branch to get trusted advice.

6. Nominee Information

   One of the most important LIC Policy details, is information about the Nominee of your policy. Having the right nominee details and updated information attached in the policy ensures your loved ones receive policy benefits easily.

   Why is it Important:

   Having the correct nominee details ensures your policy benefits go to the right person. It also helps avoid delays or legal issues during claim settlement, giving peace of mind to you and your family. If you’re wondering how to change nominee in LIC policy, these details will come handy in the process.

   How to Check LIC Nominee Information:

   You can check or update your nominee's name in your LIC policy details list online through LIC customer portal or by visiting your LIC branch.

7. Grace Period

   A grace period is the extra time you get after your premium due date, to provide an extension for paying premiums and keeping your policy active.

   Why is it Important:
   Knowing your grace period helps you avoid losing your policy by making overdue payments. It gives you extra time to stay protected even if you miss the due date.

   How to know the grace period of your LIC policy:
   Your policy bond mentions the specific grace period for your plan.

8. Free-Look Period

   LIC of India also provides a free-look period usually 30 days to cancel the policy if you’re not satisfied with the policy you bought.

   Why is it Important:
   With the free-look period, you can cancel the policy if it doesn’t meet your expectations. It gives you enough time to review the plan and get most of your money back with only small deductions.

   How to know the free-look period of your LIC policy:
   Refer to your policy document or contact LIC support for the free-look period duration for your plan.

9. Revival

   LIC revival period is generally for 5 consecutive years from the date of first unpaid premiums.

   Why is it Important:
   Knowing the revival period helps you restore your lapsed policy and all its benefits. It lets you continue the same plan without buying a new one or paying extra charges, while also keeping the bonuses you had earned.

   How to know LIC policy revival details:
   You can check this LIC policy detail in your policy bond or visit the branch to see if your plan is eligible for revival and how much is due.

10. Surrender

    LIC policy details about policy surrender is an important detail that policyholders should be aware of. Surrendering your LIC policy means ending it before maturity and receiving its surrender value.

    Why is it Important:
    Understanding surrender details helps you know how much money you’ll receive if you end the policy early. It also helps you compare the guaranteed and special surrender values so you can make an informed decision.

    How to know LIC policy surrender details:
    You can use the LIC Surrender Value Calculator to know how much your policy will payout in case of surrender.

How to Check Your LIC Policy Details?

There are several convenient ways to know your LIC policy details by policy number. In all the following methods, your LIC policy number is the most important detail required.

1. Through LIC Customer Portal

   One of the easiest ways to manage your policy is through the LIC e-services, under the LIC Customer Portal. Here’s how to use it:

   Step 1: Register or log in at the official LIC website.

   Step 2: Add your policy number to your profile.

   Step 3: Use the dashboard to check policy status, premium due dates, bonuses, maturity amount, and more.

   Your LIC customer portal login gives you 24/7 access to all policy details from anywhere.

2. Through LIC Digital App

   If you prefer checking LIC policy details on your mobile, download the LIC Digital App from the Play Store or App Store. After logging in with your registered mobile number and OTP:

   Step 1: Go to “Policy Status” for a list of your enrolled policies.

   Step 2: Tap any policy for full details like sum assured, bonus, premium schedule, and more.

3. Through SMS Facility

   LIC offers an SMS service to check LIC policy details by policy number directly by sending an SMS from your registered mobile number. Send a message in this format:

   ASKLIC <Policy Number> STATUS

   For example: ASKLIC 123456789 STATUS

   Send it to 56767877 or 9222492224.

   This method is handy if you’re wondering how to know LIC policy status quickly without logging in.

4. Through WhatsApp

   If you have already registered your policy on the LIC customer portal, you can know your LIC policy details on WhatsApp. To get started, simply send "HI" to 8976862090. Once you do this, a menu of options will appear on your screen. These options cover a range of LIC services, including checking policy details. To proceed, choose the appropriate option from the policy services menu. Follow the prompts to view your LIC policy details quickly and securely without the need to log in or navigate through the website.

5. Through LIC Customer Care and IVRS

   If you prefer speaking to someone directly, you can call LIC customer care on their toll-free number 1800-33-4433 or your local LIC office. You can also use LIC’s IVRS system by dialling 1251 (BSNL/MTNL) or city code + 1251 from other networks. An agent will provide you the desired LIC policy details by policy number asked in the starting of the call. This method is useful for detailed queries about LIC policy check, premium calculations, or to update your contact information.

6. Through LIC Branch Visit

   If you wish to get face-to-face assistance, visit your nearest LIC branch with your policy document or ID proof. The staff can help with LIC policy check, online registration, premium payments, and updating nominee details.

7. Through Policybazaar

   You can also find out some of the LIC policy details by policy number only, such as your due premium amount, sum assured, bonus amounts or maturity benefits, through Policybazaar. Here are the steps: 

   Step 1: Visit the LIC premium payment online page.

   Step 2: Fill the form with the LIC policy number and DOB. Click on “Continue”.

   The process is primarily for online premium payment; however, you can also get some LIC policy details from here. 

   The following are the customer care toll-free numbers: 1800-208-8787, 1800-258-5970, and 1800-258-5881. You can also connect to the customer care team for your LIC policy details via WhatsApp on +91 8506013131.

Why Is Knowing Your LIC Policy Details Important?

Knowing your LIC policy details ensures that your policy remains active and that you or your family can access its benefits without delays. Here are the key reasons why awareness is essential:

• Avoid Policy Lapse:
  Tracking premium due dates through LIC’s online services helps prevent policy lapses, ensuring continuous coverage for you and your family.

• Financial Planning:
  Knowing your bonuses, maturity value, and loan eligibility allows for better financial decisions and more effective long-term planning.

• Peace of Mind:
  Awareness of your policy status reassures you that your family's financial protection is intact and free from unexpected issues.

• Smooth Claims Process:
  Keeping nominee details updated ensures quick and hassle-free claims. Outdated information can lead to delays or disputes.

• Emergency Funds:
  Understanding your loan eligibility lets you access funds during emergencies without affecting other investments.

• Transparency:
  Regularly checking your policy through LIC's digital tools ensures your records are accurate and builds trust in your insurance provider.

Wrapping Up

When you buy a policy from LIC check policy details regularly, as it empowers you with information and awareness. Now, any time you wonder “how to know my LIC policy details", remember, there are many easy ways to do so. Whether you use the LIC customer portal, LIC Digital App, SMS facility, LIC customer care, or go for a branch visit, you can get all the information at your convenience, making your financial future secure and stress-free.

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