To get the Duplicate Policy Bond from LIC of India, follow below procedure –
Step 1- Advertisement in a Local Daily Newspaper
If the LIC Policy is due for maturity or survival benefit within 3 years and if the sum assured is more than Rs.25,000, an advertisement in a Local Daily Newspaper having wide circulation is required. But the requirement of advertisement and Indemnity Bond may be dispensed with or modified in certain circumstances as given below :
1- Loss of policy by theft
2- Destruction of policy by fire
3- Loss of policy while in custody of an office of government
4- Mutilated or damaged policy
5- Policy in torn and a part of it is missing
6- Policy partially destroyed by white ants
Step 2- Form 3756 on Stamp Paper
The Form No. 3756 matter should be printed on a non judiciary stamp paper of Rs. 100 (check appropriate value from the LIC branch) and get it notarized from notary and sign on each page.
Step 3- Surety
If the sum assured of your lost LIC policy exceeds Rs. 50,000, then you also need to submit Surety (Form No. 3807). The Surety declaration is only acceptable from the person of a sound financial status from the same area where you live.
Step 4 – Visit LIC Branch
You need to visit your LIC Branch (from where you had bought the policy) with photo id and address proof.
Step 5- Pay Duplicate Policy & Insurance Stamp Charges
Pay Duplicate Charges of Rs. 5 and Insurance Stamp Charges at prevailing rates.
New policy bond will be issued to you within few days time.
Note – If the policy bond is partially destroyed due to natural causes like, fire, flood, etc, the remaining portion may be returned as evidence of loss of policy to LIC, while applying for a duplicate policy.