The insurance sector is one of the fastest growing industries in modern day India, with insurance providers constantly striving to outdo their rivals and LIC has been driven to ensure the level of services it offers its loyal customer base is second to none. LIC policy holders can get their queries and issues resolved quickly and hassle free, access their policy’s details without having to visit the company office. Want to check your LIC policy status, here’s how you can do it.

Check LIC Policy Status Online

LIC being one of the pioneers in the insurance industry has come up with so many options and made checking policy status very easy and smooth for the customers. They have an online solution where you have to register your details and you can get the LIC policy status. The details of how to go about it are follows: 

How LIC Policy Status Check Online by New User?

Step 1: Visit the LIC Company’s official website https://www.licindia[dot]in and click ‘Customer Portal’. This will direct you to the website’s e-services page.

Step 2: After click on “LIC e-Services” tab, It direct you on next page here click on “New User”.

Step 3: Now you have a form-fill it with required information

Information You’ll Require to fill the Form

Your Policy Number- You must have an active, valid LIC policy purchased in your name and enter the correct policy number.

Your LIC Policy’s Installment Premium- You’re required to input the amount paid as premium without adding in service tax.

Date of Birth- Enter the date of birth as mentioned in the documents you have provided to LIC as your Age proof. Make sure you input your date of birth in the format DD/MM/YYYY.

Contact Number- Provide your active mobile number. Once your mobile number has been updated with LIC, you will be able to receive alerts and notifications like your due premium amount, LIC policy maturity and premium payment alerts.

Email Address- You must enter an existing personal email address that you have full access to. This same email address will be used by the company to send you a confirmation message once you’ve successfully completed the online registration process. In future, your email id will be used to notify you of your LIC policy status as well as important alerts and notifications.

Step 4: After submitted the registration form, you will receive a confirmation email from LIC asking you to click on the link enclosed.

Step 5: Doing so will redirect you to the Sign-in page. Punching in your correct username and password will grant you access to your LIC policy status and details.

How LIC Policy Status Check Online by Registered User?

Users who are already registered on the LIC website can log in using their user id and password and have access to all the policy related details like premium due date, bonus, etc. Following are the steps to be followed:

Step 1: Log in to LIC website and on the mail page click on the Online Services.

Step 2: Once you are routed to the log in page select the option for registered users.

Step 3: Post this you will be asked to enter your credentials like user id and password.

Step 4: There will be policy listing listed out on this page from where you need to view enrolled policy.

Step 5: You will be taken to the page where all your linked policies will be visible and you can view the policy status by simply clicking on the policy number you wish to view.

How to Check Policy Details Through SMS:

LIC being one of the giants in the insurance industry has been coming up with so many user-friendly options to make tracking of policy easier. One such thing is the launch of SMS facility which allows the users to simply send out an SMS and they can get all the policy related details.

The details can be sought out by sending out an SMS keyword ASKLIC and then the specific code for the query to 56767877. You can only send this SMS through your registered email id.

Following are the Specific Service Codes:

Premium instalment ASKLIC PREMIUM
Revival Amount ASKLIC REVIVAL
Bonus Additions ASKLIC BONUS
Available LOAN ASKLIC LOAN
Nominee Details ASKLIC NOM

 

How to Check the Policy Status Through Customer Care?

There is a customer care service available for LIC customer which works round the clock and customers can get instant updates of their policy. These details can be availed by providing the policy number in IVR. Following are the helpline numbers you can reach out to for any policy status details:

  • From MTNL and BSNL: 12151
  • Any other landline or mobile phone: prefix city code to 12151

Apart from this you can also reach out to their zone offices which are divided into 8 zones or regions: Central, Eastern, East Central, North, North Central, South, South Central and West. The customer care number for each zone is available on the LIC website.

How Can You Check the Surrender Value?

The surrender value for any LIC policy can be checked with the help of this easy formula:

[Basic sum assured (Number of premiums paid/Total number of premiums payable) + Total bonus received] x Surrender Value Factor.

In order to understand this better let’s take the help of one example:

A policy is having a surrender value of 30% including bonus and premium paid, and is applicable after 3 active years. Here the premium paid in the first year and any accidental benefits will be excluded. Assuming the policy started in 2010 with a term of 15 years, the basis assure sum is INR.4,00,000 and the premium paid every year is INR.30192. Total bonus till date is INR.70000. Considering policy owner has paid only 5 premiums till now, the surrender value will be 30% +final bonus as on today.

Conclusion

Life Insurance Corporation of India (LIC) is the nation’s largest and perhaps the most trusted insurance company. With a customer base spread across demographics as diverse as the country itself, the company has kept with the times, constantly coming up with insurance solutions best suited to the changing lifestyles and, just as important, perpetually improving its service standard to maintain a good relationship with the consumers.

LIC is a wonderful insurance tool for people from all walks of life. But simply buying a policy isn’t enough. Strange as it might appear, there are a lot of consumers that end up paying extra and lose out on the full benefits of their policy simply because they forget to pay their insurance premium on time! While SMS and customer care services are a wonderful way to access your LIC policy details, going online and registering is still recommended—it’ll set you up to receive all the important reminders and notifications, keeping you updated on your LIC policy status no matter how busy your schedule!

Categories: Insurance

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