Through Online LIC official portal; SMS- helpline; Customer care. In case of accidental permanent disability arising due to accident (within 180 days of the date of accident) the amount equal to accident benefit sum assured will be paid in equal instalments spread over 10 years and future premiums for accident benefit sum assured as well as premium for the portion of basic sum assured shall be waived. If policy is closed before time that is before all the premium due are paid there are two situations: In the event of the policy holder finding any of the policy condition not according to what was explained by the agent or company representative or he finds certain conditions not suited to him he can return the policy within 15 days of its receipt to the office of the company. You can also contact email@example.com for LIC online inquiry or else visit your nearest LIC branch to solve quickly. On successful registration, you will be taken to a new page, where an option is displayed. 7th to 9th year 75% of surrender value 70% of surrender value This has made life easier for the innumerable LIC policy holders across the country. *All savings are provided by the insurer as per the IRDAI approved insurance plan. So unless your kid is currently 6-7 years old already, this figure is irrelevant for you. For sum assured of Rs.2,00000 and up to Rs.4,90000/- Rs.2/- per thousand sum assured and for sum assured 5,00000 and above Rs.3/- per thousand sum assured rebate is available. Loan facility can be availed by the policy holder on the policy acquiring surrender value, that it when three annual premiums are paid. 1. Then why it is the best policy for a 31 years old person?Â It is because a person of this age group is into his career and his income is stable. Accidental Death: In case of accidental death during the term of the policy additional sum assured equal to sum assured plus Sum Assured plus bonus and Final additional bonus will be paid. 4 lakh with an annual premium amount of Rs. If you need the status immediately to apply for some loan or something similar, you donât have to queue or wait a few days to get it. 1. In other words, it is a fit all policy for any person who wants return on his investment as well as a good risk cover on his life. The policy lapses if the premium is not paid with the days of grace of 30 days for quarterly, half yearly and yearly mode and 15 days for monthly mode of payment of premium, death claim is not payable subject to other conditions including the number of years the policy has run before it lapses due to non-payment of premium. It would be Sum Assured plus vested bonus accrued under the policy till the date of death plus final additional bonus. rajtechnews October 5, 2018 How To Check Your LIC Policy Status 2018-10-05T07:21:46+00:00 NEWS Checking your policy status from time to time is as important as buying the policy itself. Thus, the policy receives 60% of the sum assured as survival benefits. For example, a one lakh purchase price for a 30 years old person will fetch him a pension of 6750/- yearly, under option I. Unique selling proposition of this plan is that it has a lot of flexibilities that are available mostly under the unit linked insurance policies even when it is an endowment plan with the inherent benefits of such plans. LIC policy status can be checked free of cost. Accident benefit rider is available subject to these conditions: Premium paid under this plan is eligible for exemption under section 80 (c ) of the income tax act. Rs 67 lakhs! If you want to check your LIC policy status, there are many easy ways to check the status online or even offline. The plan is beneficial to those persons who want to receive periodical payments during the term of the policy as survival benefits. 2.1 Checking Your LIC Policy via Your Service Provider(At nearest LIC center), 2.1.1Â Advantages of Checking your LIC Policy Status in Person, 2.1.2 Â How to Check Your LIC Policy in Person at your nearest LIC Policy Center, 2.2Â Checking Your LIC Policy Status Online, 2.2.1Â Advantage of Checking LIC Policy Status Online, 2.2.2Â How to Check Your LIC Policy Status Online, 2.3Â How to Check Your LIC Policy Status via Phone or SMSÂ. There is only yearly mode of payment and no riders are available under the policy. Yrs. You will require these to login to your LIC Account for the 1st time. There will be no rebate on quarterly or monthly mode of paying the premium. Table 836, UIN-512N304V0I, is an endowment plan that gives a decent return as well as covers the Life risk and accidental risk of the life assured during the term of the policy. No medical is required under this plan. All you need to do is apply for a policy that you feel will fit your needs and budget best and pay the monthly premium. The sum that you can avail from your policy in the form of loan, To Check the Status of Nomination Details, You can know about the details of the nominations. Likewise, a person of 54 years of age can opt for a policy term of 21 years but will have to pay the premium for 10 years. Detail of the functionalities are mentioned below on the page. Go to the LIC website at the following address http://www.licindia.in/. LIC Jeevan Tarun policy is a children plan designed to provide for financial needs of the child for education, marriage or other financial needs that are anticipated when he grows up. For example, a person of 33 years age can take above plan for 25 years term and it will give him maturity amount at the age of 59 years. You will be covered for all risks enumerated in the policy from date of commencement of the policy. In other words, all death claim irrespective of the amount is completely exempted from income tax. At the time of buying the LIC policy, Ritvik also filled an Electronic Clearing Service (ECS) form through which his premium will be deducted automatically. Certified extract from death register. â¢ Convenience is the main reason for using this process of checking the status of your LIC policy. You will get a rebate on the mode selected only for yearly and half yearly mode. In case he opts for this benefit he will be paid additional accidental sum assured which will be in addition to the basic sum assured under the plan. *The information provided on this website/page is only for information sake. My friend Ritvik bought a policy from Life Insurance Company (LIC) last year for tax saving purposes during the tax declaration period. In the hustle and bustle of todayâs life, it is too likely to miss out on premium payments and sometimes, even the grace period goes unnoticed. In order to make local calls from a BSNL or MTNL number, you just have to dial 1251 and users making calls using other than MTNL or BSNL numbers can get access to IVRS by calling the IVRS centre number of the respective city followed by 1251.You can also get hold of the regional or zonal offices of LIC to enquire about all kinds of policy. Death benefits will include sum assured under the policy plus return of the premiums received till the date of death excluding extra or rider premium or first year premium, plus loyalty additions earned under the policy. 2. Send SMS to Check LIC Policy Status: Check your policy in two easy steps. Death claim: It provides a decent return at the time of maturity if the policy holder survives the term of the policy. Today there is plethora of career options to choose from, and we encourage parents to allow their kids to choose from and follow the career option most suited to the child. This plan has all the benefits of a conventional plan e.g. The special benefit under this plan is death cover even after maturity of the policy. You will have to take a print out of the form, sign and submit the form to the nearest branch of LIC, where at least one policy is being serviced, that is mentioned in the form. Some providers require you to make an appointment so make sure that you call first before stopping by. For the innumerable LIC policy status checking is a long and time-consuming process only and for! Of insufficient funds in variable returns plans so as maximize your investments to ensure sizeable savings for your kid s. 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