Alert for LIC policyholder. Your payouts money may get stuck !
Here
is a critical update for all LIC policyholder. If you have an LIC policy(s) and
it is about to get mature, then you need to act fast and link your bank account
with the policy. Failing to this would lead to getting your money stuck. LIC was
perhaps the only Life Insurance Company that has not mandated e payment till
now. Most of the payouts had been happening through cheques. Many cheques would
then get undelivered and this will add to unclaimed money pool.
LIC will
be stopping payouts of consumers who haven’t linked their policies.
Digitization
of Services
Apart
from this step of linking bank account, LIC is going digital in a big way.
From
1st March 2019, every customer will get information related to
policy such as premium, policy maturity etc through automated SMS. LIC will
also alert its customers if the premium is not deposited by due date. It is
important that your mobile number be registered with LIC. If the number is not
registered then do it as soon as possible.
How
to link the bank account
In
order to link your policy to your bank account, you have to submit a copy of
the cancelled check or passbook's front page to the LIC branch along with NEFT
mandate form. The processing period will be 7-10 days. LIC will directly
transfer money to your account when the policy is matured/ surrendered.
How to
Register Mobile Number
Visit LIC's website by clicking on www.licindia.in/Customer-Services/Help-Us-To-Serve-You-Better or
by calling helpline number 022-68276827. You can also contact your agent and
submit filled form
About Us
We are a neo advisory firm that believes in Goal based investment. We offer advisory services in Mutual Funds and retirement/ Life insurance domain. For any clarification / investment needs call us on +91 9325295502.
No comments