How To Check Accrued Bonus On LIC Policy Online

LIC Policy Online 

Life Insurance Corporation of India (LIC) is called a lender of the resort, which offers a wide variety of online insurance products and services to smooth transactions and to meet the customer’s diversified requirements.  Having a life insurance policy helps you to achieve long-term goals and also protects your loved ones in case of your absence. 

It is important to check the status of the policy from time to time when you purchase the LIC policy. In a daily struggle and routine of lives, it is very common to miss the premium payment date and, in some cases, the grace period also goes unobserved. To avoid this, the policyholder should always keep a check on his/her life insurance policy. Previously, a policyholder had to visit the nearest LIC home branch or contact the LIC agent to know the status of the LIC policy. Now LIC has launched e-services that work with the equal efficiency and functionality that was previously available only through the LIC home branches. You can check your policy’s status with just a click. Mobile services are also offered by LIC through which customers can check the status of premium payment. 

LIC has also introduced the SMS and the phone call facility for customers to track their policy status. It is quite an easy and convenient process where you are not required to login into the portal. So, if you are not registered with the LIC user portal, you can still check the policy status via call or SMS. Send SMS on 56767877 from your registered number. 

How To Check Accrued Bonus On LIC Policy? 

Insurance regulatory authorities have made mandatory provisions for opening an e-insurance account i.e., EIA, and also instructed insurers to provide the facility for opening the same account. LIC has also started facilitating customers with e-services for purchasing a new insurance product and service. E-services also help in keeping track of all the policies in one go and you can check all the details while sitting at home.  You can check accrued bonus on LIC policy online by logging into the LIC company portal via electronic mode. Here is a quick laydown of the steps to step guide: 

• Visit the official website of LIC and login into the LIC portal account. If you are registering for the first time, click on ‘New User’ for creating an account on the mobile application or the online portal of LIC. Select a user name and password and do not disclose this information to anyone. You are also required to fill in other details also such as an address, date of birth, etc. and if you had already an existing account, then click on the tab ‘Registered User’. 
• After logging in to your account, select the tab ‘Basic Service’. Then click on the ‘Proceed’ option. 
• A new page or window will open and the policy list and option are displayed on the left panel of the page. Click on the ‘Policy Status’ option from the provided list. 
• Now you can see all your policies on the left side of the page. Click on the policy number for which you want to check the status of accrued bonus. 
• When you click on the policy number, it shows you the name of the policyholder, plan name, installments of premium amount, due date and last date of the premiums, etc. 
• Click on the ‘Basic Information’ tab to check the accrued bonus in your policy. This option provides you details regarding the accumulation of bonuses and guaranteed addition to date. The monetary bonus that is accumulated till date will be mentioned with the detail that guaranteed addition/bonus accrued/loyalty addition is payable and is subjected to terms and conditions of the policy. You are allowed to visit this section every year to check how much bonus was added under the respective policy. 
• Then click on the ‘other information’ option that will show your age when the policy has started, starting and maturity date of the policy, details of branch and the agent, etc. 

Apart from the management of the policy and information can be easily viewed by entering the portal. Information about other facilities is also available in the LIC portal such as receipt of online premiums paid in PDF format, claim and loan status, schedule of policy, and revival quotations for the lapse cases. You can purchase new policies through the portal, and download claim and policy forms. 

Key Points To Remember While Checking Policy Details 

• The policy number must be valid in your name 
• In the installment premium section, add the paid premiums without any service tax. 
• Enter the date of birth in a proper format i.e, DD/MM/YYYY
• Add a registered mobile number so that you can get notifications about the premium payments, maturity of the policy, and due date of premiums, etc. 
• Enter an active and registered email ID 

How To Check The Schedule Of The Policy? 

Follow the below-mentioned steps to check the policy schedule: 

Step 1 – Login to the LIC customer portal by entering the user name and password. 

Step 2 - Click on the ‘’Basic Service’ option and then click on Proceed. 

Step 3- A new window will open that shows the policies list. Choose the ‘policy schedule’ tab. 

Step 4 - Then click on the download option on the left panel side. 

Step 5 - Now you can see the image of the policy on the screen. 

Wrapping It Up! 

LIC has launched an e-service platform that helps you checking the accrued bonus and the other details related to the policy. The online portal of LIC is a simple, easy, and new way of interacting with the insurance company. Now the customer doesn’t have to visit the LIC home branch to know the status of his/her policies. Every customer should register with the portal and add their policies and use the service to the fullest. Now you can check accrued bonus on LIC policy at one go.