How can I check the status of my LIC policy?
With the login portal, you must to registered account login at ebiz.licindia.in, and after login, the option LIC Claim status provides you the details of latest Claim due under a policy, but the option has a network dependency for display of relevant information.
How can I check my LIC policy without registration?
If not registered on LIC Portal: Visit www.licindia.in, click on the tab “new User”, select your own user-id and password and provide all the necessary information. Now you are a registered Portal user.
What happens to your insurance LIC policies when you give up the citizenship of India?
Since LIC policies provide coverage anywhere in the world, there is no reason to surrender your policy unless you plan on giving up Indian citizenship altogether. LIC also operates an NRI center to assist policyholders living in another country.
Can NRI become LIC agent?
Applicable if insurance is obtained during visit to India or through Mail Order Business when LIC Agents visit the country of residence of NRI for completing the necessary formalities. Maximum age at entry would be 50 years. This scheme is applicable to those NRIs who are residing in Group V countries only.
How much money will I get if I surrender my LIC policy?
On surrendering after two policy years, the insurance company will pay a guaranteed surrender value of minimum 30% of all premiums paid after deducting the first year’s premium. In case you opt for paid up option, the invested amount with return earned will be paid out on due maturity date.
How can I know my LIC policy surrender value?
The surrender value of the policy, only after 3 successful years of premium payments, can be calculated as: {Basic sum assured X (number of premium paid/ total number of premium payable) plus total bonus received}, X, the factor of surrender value.
How can I know my LIC policy status through SMS?
Track the LIC Policy Status via ‘SMS’ To know the status via SMS, type ‘ASKLIC’ followed by the function specific code and send it to the phone number 56767877.
Can foreigners take LIC policy?
Yes; Non-Resident Indians (NRIs), People of Indian Origin (PIOs) can buy a life insurance plan in India. Foreign Exchange Management Act (FEMA) allows NRIs to buy any plan that meets their requirements of protecting themselves and their family whether he is currently residing in India or not.
Can OCI have LIC policy?
Yes, NRIs and Persons of Indian Origin (PIOs) (as defined by FEMA) who are resident abroad are allowed to buy life insurance in India. Thus, all persons of Indian origin, whether citizens of India or not are allowed to take a life insurance policy in India.
What is the commission of LIC agent?
There isn’t any fix salary from the LIC for the agents. Though, Agents earn the commission for the policies they sale. LIC offers 25% to 35% commission on the policy premium for the first year, then 7.5% for 2nd & 3rd Year + 5% till the policy maturity.
Do LIC agents get pension?
Group pension Group pension is also available under Lic Agent Benefits.
How much will I get if I surrender my LIC policy after 5 years?
Moreover, if you have paid your premiums for more than four years, but less than five years, then you will receive 90% of the total maturity sum assured as a special surrender value. A 100% special surrender value is given out if the policyholder has regularly paid the premiums for five years.
What are the eligibility criteria for LIC Jeevan Saral?
LIC Jeevan Saral also offers loan facility to the policy holder. The eligibility criteria and restrictions of Jeevan Saral Plan by LIC are as under: The sum assured of the policy is at least 250 times of the monthly premiums. Minimum term of the policy is 10 years and the maximum is 35 years.
When to surrender LIC Jeevan Saral life insurance policy?
Additional Benefits: Certain benefits or features can be added to an insurance policy in order to enhance life cover or protection. Doing this requires an additional premium to be paid by the policyholder. Guaranteed Surrender: The policy can be surrendered only after it has crossed at least 3 years.
What are the benefits of a Jeevan Saral policy?
Jeevan Saral Benefits. Death Benefit: A lump sum amount is paid to the family of the policyholder as long as the policy term continues, which includes 250 times the premium paid on a monthly basis along with loyalty additions, whereas the premium return excludes the first year payments and rider premium.
What happens if LIC Jeevan Labh policy lapses?
The policy lapses if the premium is not paid with the days of grace of 30 days for quarterly, half yearly and yearly mode and 15 days for monthly mode of payment of premium, death claim is not payable subject to other conditions including the number of years the policy has run before it lapses due to non-payment of premium.