Switching LIC Market Plus 1

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03-10-2010
jobyvjohn200

Switching LIC Market Plus 1

Hi,

I have a LIC market Plus 1 policy. I want to switch between funds. Is it possible? If so what I have to do? I am not in a position to visit any branch.

Regards,
Joby.
04-10-2010
koolz

LIC Market Plus 1 plan allows you to switch from one type of fund to another upto four times a year, free of charge. You can do it yourself by login to LIC website - licindia.in.
04-10-2010
CONFUSED

Just to add -
Switching Charge - This is the charge levied on switching of monies from one fund to another. Within a given policy year 4 switches will be allowed free of charge. Subsequent switches in that year shall be subject to a switching charge of Rs. 100 per switch.
04-10-2010
CONFUSED

Quote:

Originally Posted by jobyvjohn200

Hi,

I have a LIC market Plus 1 policy. I want to switch between funds. Is it possible? If so what I have to do? I am not in a position to visit any branch.

Regards,
Joby.

I am not sure about LIC, but in general following is the standard -
1. You will need to complete a Fund Switch form
2. Fill Policy No. and Exact details of fund switching details e.g. the fund you wanted to exit and the fund you wanted to enter.
3. Sign it and Send it back or submit to the insurer.
11-10-2010
jobyvjohn200

Quote:

Originally Posted by koolz

LIC Market Plus 1 plan allows you to switch from one type of fund to another upto four times a year, free of charge. You can do it yourself by login to LIC website - licindia.in.

Dear Koolz,

I didn't find any link for switching in licindia.in. Could you kindly re confirm that LIC is providing online switching facility?

Thanks and Regards,
Joby
11-10-2010
jobyvjohn200

Quote:

Originally Posted by CONFUSED

I am not sure about LIC, but in general following is the standard -
1. You will need to complete a Fund Switch form
2. Fill Policy No. and Exact details of fund switching details e.g. the fund you wanted to exit and the fund you wanted to enter.
3. Sign it and Send it back or submit to the insurer.

Dear Confused..,

Whether I have to get the form from LIC branch.. Or is it available on net

Thanks & Regards,
Joby
11-10-2010
koolz

Quote:

Originally Posted by jobyvjohn200

Dear Koolz,

I didn't find any link for switching in licindia.in. Could you kindly re confirm that LIC is providing online switching facility?

Thanks and Regards,
Joby

You need to register yourself on the licindia.in website and add your policies after registration. If face any issues call customer care of LIC.
19-10-2010
jobyvjohn200

Koolz...,

I am using LIC's online portal for all my policy premium payment and other services. But I didn't see any link for switching between the funds. Are you sure this facility is available with LIC website?

Regards,
Joby
19-10-2010
jobyvjohn200

Quote:

Originally Posted by koolz

You need to register yourself on the licindia.in website and add your policies after registration. If face any issues call customer care of LIC.

I am registered with LIC website and I am using it for paying my premiums. But I didn't find any switching facility there.

Regards,
Joby
20-10-2010
CONFUSED

Please contact LIC Customer care - they are the best person to solve your problem.
30-10-2010
jobyvjohn200

Hello,

It is very simple.. We have to write a request on plain white paper with all the details like policy number, policy holder name, desired fund etc and handover to nearest LIC office. Any one can give it to the office. So NRI can ask some one in India to hand over the request. So it become very simple.

Thanks for all reply..

Regards,
Joby