Checking your policy status from time to time is as important as buying the policy itself. In the hustle and bustle of today’s life, it is too likely to miss out on premium payments and sometimes, even the grace period goes unnoticed. So to avoid that, you should perform a timely check of your life insurance policy and stay updated about upcoming premium payments. Earlier, one had to visit the LIC branch office or get in touch with an agent to know the status of their LIC policy. Now with the online platform of the insurer providing a plethora of services, checking the status of your policy is just a click away. LIC also provides mobile services through which customers can know their policy or premium payment status. Make sure that you have your policy number ready while making calls to the customer care or while checking your status online.
How to Check your LIC Policy Status Online?
LIC allows a myriad of online services to smoothen transactions and to promptly attend the concerns of its diversified customers. LIC’s e-services bring to you almost every functionality that was once available only through the branches. Checking policy related information is one such option provided by the state run insurer, which aims to keep the user updated about his/her payments and other important events. There are different methods of checking your LIC policy status online. Going by the first method, you will have to register a user account and fill in details of your policy to view the status. How to register online and check the policy status is explained in the subtopic below.
Registration process for new users:
The option to register for e-services is available in the LIC home page. If you are a first time user, then you will be required to fill out the online registration form and choose your login credentials. Upon successful registration, a confirmation mail will be sent to your registered email address. Click on the URL provided in the confirmation mail which will redirect you to a page where you can link your policy with the user account. In this page, enter the details of your policy such as policy number, premium amount, date of birth, etc., and click submit. If the information entered is error-free, then the status of the policy will be displayed instantly. In case the information entered by you in incorrect, then you will receive an error message and subsequently a reminder on your email.
Note: The incorrect policy information entered by the user will be deleted automatically after 5 days.
Procedure to check policy status online (for registered users):
Users can check the details of premium payments, group schemes, accrued bonuses, etc., by simply logging in to the LIC India website with their username and password. The below steps explain how to check your LIC policy if you are a registered user:
- Open the LIC India website and click on Online Services option on the main page
- It will redirect to the login page where you should select the Registered User option
- Now to initiate the session, you should enter your username and password and click on Go
- This will open up a page listing out the policy tools for registered customers
- Now from the options listed, select the option View Enrolled Policies
- This will lead to a page which will display all the policies you have enrolled, along with enrollment date, premium amount, and vested bonuses
- Now you can view the status of your policy by clicking on the policy number
How to check the LIC policy without online registration:
LIC launched the SMS and Phone Call service as a quick and convenient medium for customers to check their policy details, without logging in to the web portal. So in case you are not registered with the user portal, you will still be able to know the status of your policy through the call and SMS facility provided by LIC. These services ensure that policyholders who are not connected to internet do not get sidelined with the latest updates.
Checking the LIC policy status through SMS:
LIC is one of the most renowned names in the insurance space and over these years, the company has earned a reputation for its customer-centered service offerings. The SMS facility offered by LIC is one such service which is aimed at bringing more clarity in all processes and to help customers stay updated throughout the policy term.
To know the status of your policy through SMS, type ASKLIC
|Type of Enquiry||SMS code|
|For installment premium||ASKLIC
|For revival amount||ASKLIC
|To know bonus additions||ASKLIC
|To know the amount of loan available||ASKLIC
|For nomination details||ASKLIC
Procedure to check LIC pension policy status through SMS:
The number to send your SMS for knowing the status of your pension policy status remains the same as discussed above. However, the SMS code differs completely.
|Type of Enquiry||SMS code|
|For IPP policy status||ASKLIC
|For existence certificate due||ASKLIC
|Last annuity release date||ASKLIC
|Cheque return information||ASKLIC
Procedure to check LIC policy status by calling customer care:
LIC also provides an 24x7 IVRS facility for customers to get instant updates on their insurance policies. The facility allows them seek all policy related information by simpling providing their policy number. To avail voice support, you can call on the LIC helpline numbers given below:
|Helpline number for MTNL and BSNL users||12151|
|For calls from all other landline and mobile||Dial city code followed by 12151|
Customers can also get in touch with the zonal or regional offices for all types of policy enquiries. These regional offices are divided into eight zones namely, Central Zone, Eastern Zone, East Central Zone, Northern Zone, North Central Zone, Southern Zone, South-Central Zone, and Western Zone. Find below the customer care numbers for all the voice support centers falling under the aforementioned zones of LIC.
Customer support number for Central Zone:
Customer support number for Eastern Zone:
Customer support number for North-Central Zone:
Customer support number for North Zone:
Customer support number for South-Central Zone:
Customer support number for Southern Zone:
|Kottayam||0481-2580121 / 0481-2580102|
Customer support number for Western Zone:
|Mumbai-1||022-22028225 / 022-66599066|
|Mumbai-2||022-24010375 / 022-30492020|
|Thane||022-25829702 / 022-25827728|
How to check the Surrender Value of your LIC Policy?
You can calculate the surrender value of your policy using this simple formula [Basic sum assured (Number of premiums paid/Total number of premiums payable) + Total bonus received] x Surrender Value Factor.
Let’s take an example of LIC Jeevan Anand policy to understand the parameters involved. In this case, the surrender value is applicable after three active years of the policy and it is equal to 30% of all premiums excluding the premiums paid for the first year of the policy term along with vested bonuses. Accident benefits will also be excluded for the purpose of calculating surrender value. Bonuses are additional cash values paid at the time of the end of the tenure or in case of death.
Now let’s suppose the LIC policy started in the year 2010 with a policy term of 15 years. The basic sum assured is Rs.4,00,000 with a yearly premium amount of Rs.30,192. The bonuses accumulated till now will amount to Rs.70,000. Now if the policyholder has paid only 5 premiums so, far the surrender value will be 30% (5 x 30,192) + Final Bonus in today’s term.
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GST of 18% is applicable on life insurance effective from the 1st of July, 2017