LIC Maturity Claim Form

To understand its importance, let’s look at what exactly the LIC maturity claim form is and why it’s required.

What is LIC Maturity Claim Form?

A LIC maturity claim form is an official document used by policyholders to claim the maturity proceeds of their insurance policy once it reaches the end of its term. This form is essential for initiating the maturity settlement process and must be submitted along with other supporting documents of your LIC policy.

The official name of the form is LIC form no 3825. It is also commonly referred to as the LIC discharge form on maturity. Once duly filled and submitted, it enables LIC to verify the claim and disburse the maturity amount directly to the policyholder.

How To Fill and Submit the LIC Maturity Claim Form?

Here's a step-by-step process:

Step 1: Get the LIC Maturity Claim Form (Form No. 3825)

You can get the LIC maturity form in one of the following ways:

• Visit your nearest LIC branch and ask for Form No. 3825 (also called the LIC discharge form on maturity).

• Download it from the official LIC website under the 'Claim Forms' section.

• You may also request the form through your LIC agent, if you have one.

Step 2: Collect Required Supporting Documents

Before filling the form, keep these documents ready:

• Original LIC policy bond

• Photo ID proof (Aadhaar, PAN, Passport, etc.)

• Address proof

• Cancelled cheque or copy of bank passbook

• Recent passport-size photograph

• NOC from bank/assignee, if the policy was assigned or mortgaged

• Form 15G/15H, if applicable (to avoid TDS on interest)

Step 3: Fill in Policy Details

Start by entering the key information related to your policy, including your policy number, plan and term, sum assured, and the date of commencement and maturity. These details are typically available on your original policy bond.

Step 4: Provide Personal Information

Enter your full name, date of birth, address, and contact details as per LIC records. Make sure all information is accurate and matches what's on file to avoid processing delays.

Step 5: Enter Your Bank Account Details

Provide your bank account details such as the account holder’s name, bank name and branch, account number, and IFSC code to enable direct credit of the maturity amount. To verify these details, attach a cancelled cheque or a copy of the first page of your bank passbook.

Step 6: Sign the Declaration Section

Carefully read the declaration printed on the form and sign in the space provided.

Step 7: Get the Witness Signature

The form also requires the signature of one witness, along with their full name, address, and the date. This adds legal validity and credibility.

Step 8: Submit the Form and Documents to LIC

Once the form is completely filled and all required documents are attached, submit them to your nearest LIC branch.

Step 9: Acknowledge Receipt and Track Status

After submission, request an acknowledgment receipt from the LIC officer for your records. You can also track the status of your maturity claim through the LIC online portal or by contacting the branch where the form was submitted.

Policy Details Required in the LIC Maturity Claim Form

Filling out the LIC form for maturity claim accurately is crucial to avoid delays in the claim settlement process. Here’s a breakdown of the key details that need to be filled in:

• Policy Number: The unique identification number of your insurance policy.

• Name of the Policyholder: Ensure it matches the name on the policy documents.

• Date of Maturity: As mentioned in your policy bond.

• Bank Account Details: For direct credit of the maturity amount.

• Signature of the Policyholder: Must be matched with the one in LIC's records.

• Witness Signature: Usually required to validate the policyholder’s signature.

You will also need to attach the following documents along with LIC form no 3825:

• Original Policy Document

• ID Proof (like Aadhar, PAN, Passport)

• Cancelled Cheque or Bank Passbook Copy

• Address Proof

• Recent Passport-Sized Photograph

• If the policy is under any assignment (e.g., to a bank), a letter of assignment or NOC from the assignee is also required.

Note: These documents are also required in the LIC Death Claim Process. 

Importance of LIC Maturity Claim Form

The LIC maturity form is more than just a piece of paperwork, it acts as a formal declaration that the policy has reached its end, and that the rightful policyholder is ready to receive the proceeds. Without this form, LIC cannot begin processing the claim, regardless of how long the policy has been active or how much the maturity amount is. The 3825 LIC form is important because it:

1. Legally initiates the payout: 

   Submitting the LIC maturity claim form officially notifies LIC that you're requesting the maturity amount. Without this form, LIC cannot begin the claim process, even after the policy term ends.

2. Verifies your identity and bank details:

   The form includes personal and banking information to confirm the claimant's identity. This step helps prevent fraud and ensures the funds are transferred to the correct account.

3. Ensures compliance with regulations: 

   LIC, being a government-regulated entity, must follow strict documentation protocols.The maturity form serves as a legal record.

4. Speeds up claim settlement: 

   A correctly filled form with all required documents allows quicker verification. This reduces back-and-forth communication and results in faster disbursement of funds.

5. Acts as a formal discharge of contract

   By signing the LIC discharge form on maturity, you formally acknowledge receipt of policy benefits. This completes the contractual obligation between you and LIC, closing the policy legally.

Summing Up

Filing the LIC maturity claim form is a simple but crucial step to receive your returns at the end of your policy term. Use the correct form (LIC form no 3825), fill it accurately, and attach all required documents. If your policy is approaching maturity, now is the right time to prepare your documents and submit your LIC form for maturity claim in advance to ensure timely processing. Your maturity benefits are the result of years of disciplined saving, claim them properly to receive the assured value.

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