Alert for LIC policyholders! Get your bank account details updated, the claim process will be easy

If you are a policyholder of Life Insurance Corporation of India (LIC), you should know that the claim settlement payment under your policy will be directly credited to your bank account. So, policyholders must ensure that their correct bank details are present with LIC.

Life Insurance Corporation of India (LIC)

If Life Insurance Corporation of India ,LIC, policyholder, you should know that the claim settlement under your policy (Claim Settlement) The payment will be directly credited to your bank account. So, policyholders (Policyholders) One has to ensure that their correct bank details are present with LIC. This is because LIC NEFT Your bank account information will be required to make policy payments through National Electronic Funds Transfer (National Electronic Funds Transfer). Keep in mind that LIC will not accept any other mode of payment for policy payment, such as cheque. This information has been given on the website of LIC.

As per the latest advertisement released by Life Insurance Corporation of India, the insurance company is asking its policyholders to update bank details to make the claim process easier.

Policyholders should keep these things in mind

The ad said these things:

  1. Kindly check your policy document for the date of maturity or the date of survival benefit, it is said in the advertisement.
  2. Contact any branch with details.
  3. Provide bank account details. The NEFT mandate form is available at all the offices or it can be downloaded from the LIC website under Download Forms.
  4. NEFT details can be downloaded online.
  5. Submit the claim discharge forms and policy documents.
  6. Submit the KYC and update your home address, phone or mobile number, email ID etc.

According to the LIC website, the benefits of NEFT are:

  1. Wherever your bank is located, the policyholder will get the amount in his/her account on the date of payment.
  2. With this NEFT is a faster and more secure mode of payment.
  3. There is no additional charge for the policyholders.
  4. Wherever policy payment is made to the policyholder through NEFT, SMS and email alerts will be sent.
  5. A unique UTR (Unique Transaction Reference) number will be generated for every LIC NEFT payment. If there is any problem with the credit in the account, the policyholder can contact his/her bank and ask for confirmation using this UTR number.
  6. In other words, with this number it becomes very easy to follow the NEFT transaction.

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