From July 2016, CBS - Post Office and Banks started issuing Kisan Vikas Patra (KVP) and National Savings Certificates (NSC) as passbooks. The pre-printed certificates are now discontinued. KVP is available in Rs.1,000 to Rs.50,000 denomination and NSC is available in Rs.100 to … [Read more...] about How to buy NSC & KVP in passbook mode or electronic form?
Policy holders must nominate a nominee/beneficiary (as stipulated under Section 39 in The Insurance Act, 1938) at the time of the insurance proposal. One can have single, multiple or successive nomination. Documents you Need: 1. Filled LIC - Change of Nomination Form or … [Read more...] about How to Change LIC Policy Nomination?
The SSA can be transferred anywhere in India and from or to Post Offices and from or to Banks and between post office and Bank. SSA Transfer Process Steps: 1. Visit the Post Office branch, where you have your SSA account, along with Original SSA passbook and KYC … [Read more...] about How to Transfer Sukanya Samriddhi Account from Post Office to Bank?
Sometime the policyholder finds the policy terms not suitable (eg. High Premium Amount, Change in Mode of Premium) to him and desires to change them. LIC India allows certain types of alterations during the lifetime of the policy. What all alterations are allowed to your LIC … [Read more...] about How to Alter LIC Policy?
Process Steps: The process steps of becoming a licensed insurance surveyor: 1. Registering on IRDAI BAP Portal To acquire a surveyor license, the first step is to register yourself on the IRDAI BAP portal. After successful registration, you can apply for a training request. … [Read more...] about How to become Insurance Surveyor and Loss Assessor (SLA) in India?
LIC India provide you 30 days (30 days if mode of payment is Yearly/Half-yearly/Quarterly and 15 days if the mode is monthly) grace period to make policy premium payment without paying any additional charges. But if you have crossed 30 days you need to pay policy revival late … [Read more...] about How to Calculate Late Payment Fee for delayed LIC Premium?
The life insurance policy purchased in India will cover death that occurs anywhere in the world. The life insurance policies taken as a resident in India can continue even after moving abroad and becoming an NRI. It is not necessary to submit below documents but helpful in case … [Read more...] about Going Abroad Permanently : (NRIs) How to update Your LIC Policy Record?
You can change the LIC Branch of your LIC Policy by three methods: 1. By Visiting Current Branch: You can go directly go to the nearest LIC branch with the application and photocopy of the LIC policy. This is a new facility by LIC India. 2. By Email: You can also send a mail … [Read more...] about How to Change LIC Branch for your LIC policies?
In case the life insurance policies assigned in favour of financial institution, the claim would be paid after 3 months of commencement, the claim would be admissible to the extent of the amount of the loan or actual sum assured, which ever is less, provided such notice of … [Read more...] about How Claim Paid in Assigned Life Insurance Policies?
The LIC policy can only be surrendered at the branch, where it's currently being served (i.e. Servicing Branch). So you need to change the policy servicing branch first, before surrendering it. This will add time for the surrender process. But you can now surrender LIC policy by … [Read more...] about How to Surrender LIC Policy by Post?