You are in a difficult position, where you parent/relative passed away unexpectedly and you were unable to locate his LIC India life insurance policy. Despite an exhaustive search at home, you couldn’t find any LIC Receipt, policy bond, paper work or detailed information.
In India, Rs 6,700 crore is lying unclaimed with Indian private and public insurance companies at the end of March 31, 2014. Among life insurers, Life Insurance Corporation of India (LIC) has the maximum unclaimed amount of policy holders at Rs 1,548 crore at the end of March 31,2014.
Now IRDA has asked insurers to update unclaimed policy records, so you could find the LIC policy details online with keying in few basic details (Policyholder’s Name, Date Of Birth etc.) online (If you don’t know the policy number, still you can check the details).
Details you need:
To know whether any amount under your LIC policy is lying unclaimed, you need:
1- LIC Policy Number
2- Policyholder’s Name*
3- Date Of Birth* (dd/mm/yyyy)
4- PAN Card
* Mandatory Fields
Please note that above information/record is updated by LIC India on half-yearly basis.
Steps to follow:
1- Log into LIC India
2- Please key-in the following madatory details (Policyholder’s Name, Date Of Birth)
3- Click “Submit”
Things you should do to find old LIC Policy:
1- Remember that an insurance policy bought many years ago may not have been in your current married name (old sir name/family name for married women).
2- Life insurance policy bought by parents/grandparents on your behalf may be jointly in their names and, where relevant, they may also be in your maiden name.
3- Check the LIC India premium debited entry in the old saving account passbook.
4- A change of address is one of the most common reasons people lose track of their policies over the years. So check old address for past letters or LIC Receipt etc.
5- Even if the policy is many years old it could be in the above LIC database.