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 grace period too.
There are various methods to check everything related to the policy, including premium due date, bonus, maturity, etc, people forget to check the status of their life insurance policies and pay extra charges.
How to Check LIC Policy Status
A myriad of online services is offered by Life Insurance Corporation to equate the transactions and to attend the affairs of its consumers promptly.
E-services of LIC bring almost every range of capabilities that were once accessible only via the branches. Keeping a track on LIC Merchant statement online.
Information related to policy is an option offered by the insurer, which intends to keep you updated about the payments made by you and other events.
Check LIC Policy Status Online (For Registered User) :
You can check your LIC policy details including details of the premium payments, accrued bonuses, group schemes etc.
By simply logging on to the official website of LIC India with your login credentials. The steps below will explain how to track your LIC policy status if you have registered yourself:
Step 1:You must visit the e-Service Portal of LIC. The screen will show you two options namely, New User and Registered User. Click on the relevant option.
Step 2:You will need to enter the login credentials namely, your User Name and Password.
Step 3:Once you’re logged in your Services Account of LIC, you will see various options related to the account or your policy. Now you have to click on ‘Policy Status’ tab.
Step 4:You will see all your policies that are enrolled to the respective account. If you have more than one policy and it is not listed in the list, then you have an option to add your LIC policies by making use of ‘Enrol Policy’ option in the LIC’s e-Services Tools section.
Step 5:Now, you can track the details of your policy 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.
LIC Policy Status - Procedure for a New User
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 you have to fill in the online registration form and pick 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 enrol 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: The incorrect LIC policy details will get deleted after 5 days automatically.
Steps for LIC Registration for a New User
Step 1:The insured requires visiting the official website. On the left side of the Home Page, you will see 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 ‘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 details of your policy.
- Policy Number: This must be a valid LIC policy in your name
- Instalment 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 premium payment alert, policy maturity alert, and premium due etc.
- Email ID: The insured must enter an active email ID.
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 User ID and password of your preference hit the Submit button. The registration will be successful and you’ll be logged into your account.
LIC Enroll Policy
If you click the “yes” tab for “Do you have any LIC policy?” you will get an online LIC policy enrolment form, after clicking on the submit button to complete the Registration.
In the form you will have to enter the prerequisite details like the name of the Life Assured (in case of different name from the Proposer like in Children’s Plan), premium and the policy number for every policy.
You can take a print out 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 the login credentials.
If you do not want to download your policy number immediately after you complete with the Registration process, you can do it any time later. You can key in any number of times simply by logging into your account.
Do not forget, if you are either Life Assured or the Proposer you can enroll these policies.
You will have to take a print out of the form, sign 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 acknowledgement letter on your user id. You can get a print this letter for future use and reference.
The validation of all the policies will be completed after completion of necessary checks with the agenda of your policy.
The enrolment process is necessary to assist authorised access to specific functionalities provided by the LIC like request to change the address.
All policies in ordinary life are based on annual premium payments in advance. However, instalment premiums may be made monthly, quarterly, or halfannually at a slight additional charge.