How to Change Nominee in LIC Online

Changing your LIC policy nominee is important to ensure the financial security of your loved ones if something happens to you. This process ensures financial security for your chosen nominee, and proper steps are essential to complete the nomination change correctly.

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Who is a Nominee in LIC Policy?

A nominee receives the insured amount if the policyholder passes away. They're usually a family member or trusted relative. Without a nominee, your family may not get the insurance money, causing financial difficulties. Choosing a nominee carefully is crucial when buying a life insurance policy or other financial products like bank accounts and investments to prevent financial hardship for your loved ones.

Can I Change the Nominee in LIC Policy Online?

With LIC's e-services, you can go through your policy details online. Through the portal, you can view your claim status and policy status. You can even pay your premiums online. However, the option to online change the nominee in LIC policy is not yet available.

What is the Process of Changing nominee in LIC?

Changing the nominee in LIC policy is a simple process. Also, you can make this change multiple times during your policy term. All policies with a sum insured below Rs. 75,000 are eligible for free cancellations or nomination changes. From the second time, the minimal amount is charged.

Here is what you need to do to change the nominee in your LIC policy:

  • You need to notify the Life Insurance Corporation of India by filing form 3750. 

  • You must endorse the nomination. 

Documents required for nominee change:

The below-mentioned documents are a must when changing the nominee in a LIC policy:

  • Form 3750

  • The relationship proof between the policyholder and the person being nominated.

  • Policy contract (for endorsement).

  • The LIC policy photocopy

Note: Policies with a sum assured of Rupees 75,000 or more come with a charge of Rupees 50 for change of nomination, cancellation, or first nomination. This charge applies to all electronic policies. For non-electronically availed policies, this charge is Rupees 100.

What are the Reasons to Change Nominees?

From personal to situational, there can be several reasons why you may be required to change the nominee in your LIC policy. Mentioned below are some of the common ones:

  1. Personal Reasons:

    • The unfortunate demise of your nominee.

    • Family quarrel where the nominee is no longer a part of your family, and you do not want to be associated with him/her. 

    • You made the decision quickly and now think someone else should be the nominee.

    • You have met someone special and want to nominate them instead of the former nominee.

  2. Other reasons:

    • The nominee's name is incorrect, and you want to change it. 

    • You may have missed filling in the correct relationship details with the nominee, and now you want to correct it. 

    • The nominee's birth date/month/year is incorrect and needs to be changed. 

What to Remember When Changing Nominee in LIC Policy?

Changing the nominee in LIC policy must be done with utmost care. You need to keep in mind the below-mentioned things:

  • Please ensure you have provided the nominee's full name as mentioned in official documents like driving licenses and passports. Also, please ensure that the age and address are correctly mentioned. You must specify the relationship between the policyholder and the nominee correctly.

  • You must ensure that the appointee details are also specified for a minor nominee. The minor cannot get the claim and needs someone above 18. Appointee details like full name, address, age, relationship with the nominee, gender, and required documents must be submitted.

  • Once the application to change the nomination has been filed, the policyholder must receive a written acknowledgment from the insurance company.

  • You can also add Successive/Alternate nominations for the single or joint-life of the minor. 

Tips To Remember While Doing the Nominee Change

Before changing the nominee, do not forget these things:

  • The policyholder's lifetime does not give the nominee any right to modify or take control of the policy.

  • If the nominee declared by the policyholder dies after the policyholder's death but before the amount paid by the insurer, the said amount will be paid to the nominee's legal representatives.

Wrapping It Up

Changing the nominee in your LIC plan online is a simple process that ensures your loved ones are appropriately covered in unforeseen circumstances. Make sure you read and understand LIC Nominee Change Form 3750, which is where you will provide all the necessary details regarding the nominee change.

FAQ's

  • Q: How often can I change the nominee in my LIC policy?

    Ans: You can change the nominee in your LIC policy at any time during the policy term as long as the policy is in force. There are no specific limitations on the frequency of nominee changes.
  • Q: Can I change the nominee for all types of LIC policies online?

    Ans: In most cases, yes. However, the online services for specific policy changes may vary. It's advisable to check the official LIC website or contact customer support for guidance based on your policy type.
  • Q: What documents do I need to change the nominee in my LIC policy?

    Ans: Generally, you will need your policy document, identification documents, and the new nominee's details. However, the requirements may vary, so checking the specific documentation needed for your policy is advisable.
  • Q: How long does it take for the nominee change to be effective?

    Ans: The nominee change is usually processed promptly. However, the exact timeline may vary. For confirmation, checking with LIC or referring to the acknowledgment received during the online process is recommended.
  • Q: How do I add a nominee to my LIC policy online?

    Ans: You can add a nominee to your LIC policy online by following these steps:
    • Visit the official LIC website
    • Go to the 'Online Services' section.
    • Look for the option related to 'Nomination' or 'Update Nominee Details'.
    • Log in to your LIC account using your credentials.
    • Select the policy for which you want to add a nominee.
    • Enter the nominee's details, including name, relationship with the policyholder, date of birth, and address.
    • Save the changes and submit the nomination form online.
  • Q: Can I change the nominee of my LIC policy online?

    Ans: Yes, you can change the nominee for your LIC policy online. Here’s how:
    • Log in to your LIC account on the official website.
    • Navigate to the 'Online Services' section.
    • Look for the option to 'Update Nominee Details' or 'Nomination Change'.
    • Select the policy for which you want to change the nominee.
    • Enter the new nominee details and provide reasons for the change (if required).
    • Review the information entered and submit the changes online.
  • Q: Who can be a nominee in an LIC policy?

    Ans: The nominee in an LIC policy can be:
    • A family member (spouse, children, parents).
    • Any person who has a legitimate interest in the insured person's life.
    • If a minor policyholder is involved, the nominee should be an adult who can receive the benefits on behalf of the minor.
  • Q: How do I fill out an application for nominee change in my LIC policy?

    Ans: To fill out an application for nominee change in your LIC policy:
    • Obtain the 'Nomination Change Form' from the LIC website or your nearest LIC branch.
    • Fill in the policy, existing, and new nominee details accurately.
    • Provide reasons for the nominee change (if required).
    • Attach supporting documents such as identity and relationship proof with the new nominee (if applicable).
    • Sign the form and submit it to your nearest LIC branch office or online through the LIC website, per the procedure outlined earlier.

    These steps will help you manage nominees for your LIC policy conveniently and securely online or through the LIC branch network.


*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
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