Last year, Mr. Rajiv Verma bought a Child LIC policy to provide financial security for his kid's future. However, due to time constraints or negligence, he forgot to pay its premium and missed the grace period too. When almost after a month he came to the LIC of India office to renew his expired policy, he was appalled to know that now he had to pay extra charges along with interest to renew his policy. Had he checked the LIC policy status he would have been saved from the wastage of his hard-earned money and also the unnecessary running around.Read more
#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply
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There are various methods to check everything about any LIC policy, including the premium due date, bonus, maturity, etc. and sometimes, people forget to check LIC policy status details of their life insurance policies and end up paying extra charges.
A lot of online services are offered by Life Insurance Corporation (LIC) to make the transactions easy and to attend to the concerns of the customers quickly. E-services of LIC bring almost every range of capabilities that were once accessible only by visiting branches. Below mentioned are the ways to check the status/details of your LIC policy without having to visit the LIC branch office:
You can check details of your LIC policy including details of the LIC premium payment online, accrued bonuses, group schemes, etc. by simply logging on to the official website of LIC India with your LIC login credentials. The steps below will explain how to track your LIC policy status if you have registered yourself on the LIC website:
Step 1: Go to the official website of Life Insurance Corporation of India (LIC)
Step 2: Click on the "Customer Services" tab on the homepage.
Step 3: Select "Policy Status" under the "Customer Services" tab.
Step 4: You will be redirected to a new page where you have to log in using your username and password.
Step 5: Once you are logged in, you can see your policy details and the current status of your policy. If you have more than one policy and it is not listed in the list, then you have the option to add your LIC of India policy by making use of the 'Enroll Policy' option in the LIC's e-Services Tools section.
Step 6: Now, you can check LIC policy status details by policy number simply by clicking on the policy number in the list. The policy details namely policy name, policy term, table number, next premium due date, sum assured, etc. will be displayed.
*Note: If you do not have an account, you can register for one on the website.
You will find the option to register yourself for e-services on the home page of LIC. If you are doing this for the first time, then here is how to check LIC policy status without registration. You have to fill in the online registration form and pick LIC login credentials for yourself. Once you are done with the registration process successfully, you will receive a mail confirming your registration on your entered email address.
Next is, you will be required to click on the URL that will be provided in the mail you receive. You will be redirected to a page where you will be able to link or enroll your policy with your user account. You will be required to enter your LIC policy details like policy number, date of birth, premium amount, etc., and click on submit button. If the information provided by you is not correct, then you will see an error message followed by a reminder mail on your registered email id.
NOTE: Make sure to check LIC policy status details as the incorrect policy details will get automatically deleted after 5 days.
Your term insurance premium is decided on age at which you buy the policy and remains same, throughout your life
Premiums can increase between 4-8% each year after your Birthday
Your policy application could be rejected or premiums increase by 50-100%, if you develop a lifestyle disease
Here is how to check LIC policy status without registration for a new/unregistered user:
Step 1: You need to visit the official website of LIC of India to register. On the left side of the Home Page, you will see the Online Services tab.
Step 2: After that click on the LIC e-Services link, it'll redirect you to the next page where you'll see the 'New User' Tab.
Step 3: Hit the ‘New User’ button, it will redirect you to a form where you will be required to enter the LIC policy details by policy number.
Step 4: After you enter the required inputs as aforementioned, click to check the radio button and hit the proceed tab.
Step 5: After choosing the User ID and password of your preference hit the Submit button. The registration will be successful and you'll be logged into your account.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Policy Number: There must be a valid LIC policy in your name
Installment Premium: This is the paid premiums without any service tax that is required to be entered.
Date of Birth: The DOB must be in DD/MM/YYYY format
Mobile Number: The insured must enter a valid mobile number to get alerts like LIC premium payment alert, policy maturity alert, premium due, etc.
Email ID: The insured must enter an active email ID.
Follow the below-mentioned steps to enroll your LIC policy:
After clicking the ‘Submit’ button to complete the ‘Registration’ process if you click the “yes” tab for “Do you have any LIC policy?” you will get an online LIC policy enrolment form.
In this form, you will have to enter the prerequisite details like the name of the Life Assured (in case of a different name from the Proposer like in Children's Plan), premium, and the policy number for every policy.
You can take a printout of the form right after you are finished with the enrolment of your policy or at any other appropriate time simply by logging into your account using your LIC of India login credentials.
If you do not want to download your policy number immediately after you complete the ‘Registration’ process, you can do it any time later. You can do this number of times simply by logging into your account. Do not forget, if you are either Life Assured or the Proposer you can enroll in these policies.
You will have to take a printout of the form, sign it, and submit the form to the nearest branch of LIC, where at least one policy is being serviced, that is mentioned in the form. The LIC branch will provide you with an acknowledgment letter on your user id. You can get a printout of that letter for future use and reference.
Here is a list of points to remember about the LIC policy status check:
The validation of all the policies will be completed after the completion of necessary checks with the agenda of your policy.
The enrolment process is necessary to assist authorized access to specific functionalities provided by the LIC like a request to change the address.
All policies in ordinary life are based on annual premium payments in advance. However, installment premiums may be made monthly, quarterly, or half-annually at a slight additional charge.
You can check LIC policy status details without registration through any of the following steps
You can avail of all the LIC policy details simply by sending an SMS to 56767877.
|Types of Enquiry||Description||SMS Code|
|To Know About Installment Premium||All the policies in life are dependent on advance annual premium payments. But installment premiums can be half-yearly, quarterly, or monthly.||Type ASKLIC<Policy Number>PREMIUM and send it to 56767877|
|To Know About the Bonus Amount||The sum accumulated out of the bonus as of today.||Type ASKLIC<Policy Number> BONUS and send to 56767877|
|To Enquire About Revival Amount||Revival means to bring it back to life. If your policy lapses, you can revive your policy at any time within a duration of 5 years.||Type ASKLIC<Policy Number>REVIVAL and sent it to 56767877|
|To Check the Amount of Loan Available||The sum that you can avail from your policy in the form of a loan||Type ASKLIC<Policy Number>LOAN and send to 56767877|
|To Check the Status of Nomination Details||You can know about the details of the nominations||Type ASKLIC<Policy Number>NOM and send it to 56767877|
You can check the status of your LIC Pension Policy via SMS.
|Types of Enquiry||Description||SMS Code|
|To Know About IPP Policy Status||IPP Policy Status is the Individual Policy Plan Status.||Type ASKLIC<Policy Number>STAT and send it to 56767877|
|To Check the Existence Certificate Due||An existence Certificate is a document that certifies the existence of an individual.||Type ASKLIC<Policy Number>ECDUE and send to 56767877|
|To Get to the Last Annuity Released Date||The date when the annuitant releases the payments from an annuity.||Type ASKLIC<Policy Number>ANNPD and send it to 56767877|
|To Enquire About the Annuity Amount||The annuity amount is the sum that is paid in series at equal intervals.||Type ASKLIC<Policy Number>AMOUNT and send to 56767877|
|To Avail of the Cheque Return Information||Cheque return in case of insufficient funds in the drawer’s account.||Type ASKLIC<Policy Number>CHQRET and send to 56767877|
You can compute the surrender value of your LIC policy by making use of the simple formula:
Basic Sum Assured (Total number of payable premiums/Number of paid premiums) + Total bonus you receive x Surrender Value Factor.
Let us consider the case of LIC Jeevan Anand Policy to understand the guidelines involved in it. In this example, LIC's surrender value is appropriate after three functioning years of the LIC policy and is equal to 30 percent of all the premiums except the paid premiums for the policy's first year together with a vested bonus. Accident benefit will not be included to compute the surrender value. Bonuses are the additional cash value that is paid at the time of death or the end of the tenure of the policy.
Now let us consider a case that the LIC policy that began in the year 2010 with 15 years of the policy term. The basic sum assured of this policy is Rs. 4 lakhs with an annual premium amount of Rs. 30,192. The bonuses collected until now will be around Rs. 70, 000. Now, if you have paid just 5 premiums so far, the policy’s surrender value will be 30 percent (5 x 30, 192) + the Final Bonus in today’s term.
You can check the LIC policy status via the call center by using the company’s IVRS system. The Integrated Voice Response System, i.e. IVRS is made available 24x7, in almost all cities. Any buyer can get hold of LIC India IVRS by simply dialing UAN, i.e. Universal Access Number 1251. To make local calls from a BSNL or MTNL number, you just have to dial 1251, and users making calls using other than MTNL or BSNL numbers can get access to IVRS by calling the IVRS center number of the respective city followed by 1251. You can also get hold of the regional or zonal offices of LIC to check LIC policy status details of all kinds of policies. The regional offices are classified into eight zones viz, Northern Zone, Southern Zone, Western Zone, Eastern Zone, Central Zone, North Central Zone, South Central Zone, West Central Zone, East Central Zone, and West Central Zone.
You can also check your policy details/status by calling the toll free customer care number of LIC - 1800 33 4433.
You can know about the LIC customer care contact numbers for all the voice support centers that come under the aforementioned LIC zones.
People often forget to check their LIC policy status as most often don't even know how to check LIC policy status. A LIC policy is a shield against contingencies, but it is paramount to keep a regular tab on the status of your policy to ensure that it provides optimum returns. After all, a lapsed policy is futile. You must find some time and check the LIC policy status today.
Timely checking of LIC policy details/status is recommended for the following reasons:
To know the policy details: Checking the policy status will help you know the details of your policy such as the premium due date, policy maturity date, policy term, and sum assured. This information will help you plan your finances accordingly and ensure that you do not miss any premium payments.
To avoid policy lapse: If you miss paying your premium on time, your policy can lapse, which means you will lose all the benefits associated with it. Checking your policy status will help you stay informed about the premium due date and ensure that you do not miss any payments.
To make changes to the policy: If you want to make any changes to your policy, such as increasing the sum assured or changing the policy term, you need to be aware of the current policy status. Checking the policy status will help you understand the current status of your policy and make informed decisions regarding any changes you want to make.
To stay updated on policy performance: Checking the policy status will help you track the performance of your policy, such as the returns generated by the policy and the bonuses earned. This information will help you assess the effectiveness of your investment and take appropriate action if required.
Therefore, timely checking of LIC policy details/status is essential to ensure that no premiums are missed, avoid policy lapse, make informed decisions regarding any changes you want to make to your policy, and stay updated on the policy's performance.
It is pivotal to get a complete understanding of different methods through which you can check your LIC policy status.
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