Now making a change of address in the LIC policy is easier than ever before with an online procedure. It is important to keep the company updated about change in residence in order to maintain the chain of communication.
The procedure of purchasing life insurance policies has become convenient and hassle-free over the period of time. Where people had to visit the office of LIC in order to make a purchase, the same can be done online, thanks to advanced technology and the power of internet.
If you have moved to a different house, city, or country altogether, you will still be able to reap benefits from the existing life insurance policy, however, you will be required to change the address on the policy document. In order to foster effective communication between LIC and the insured, it is important that the policy document is updated with any necessary information such as mobile number, email ID, and so on.
This, in turn, ensures that any important instruction or detail made available by LIC is not missed out by the insured. There are two ways in which the address of an individual can be changed on the policy document. It can be done either online or offline.
The Online Process
The first step towards changing a residential address on LIC policy is creating an account on http://www.licindia.in/.
The policyholder will then be required to enrol the said policy on his/her account with the accurate information.
Once the enrollment of the policy has been done, the policyholder will be required to take out a physical copy of the Enrollment Form and visit any LIC branch to submit the same.
Verification of the enrollment form by officials of LIC will then be proceeded with. This step is important as without the required verification, the policyholder will not be allowed to access policy details on the main website.
Once the LIC officials have conducted the necessary verification process, the policies of the insured will be successfully enrolled, post which one can access his/her policy details on the main website.
Log in to http://www.licindia.in/ once the verification process is done with. Under the link for ‘Customer Services’, choose the option ‘Update Profile’.
Update the address section with the new address.
Click on ‘Submit’ once updation is done.
The Offline Process
As a first step, the policyholder will be required to draft a letter to LIC, which must encompass the exact policy number along with the reason for address change.
The policyholder will then be required to visit any LIC branch in his/her vicinity where the letter will be submitted. The policyholder will also be required to carry an identity proof, address proof, and the policy’s photocopy along with the letter.
Officials at LIC will then verify the proof of address and the letter will then be accepted.
Updation of the new address is then done by LIC officials. It is usually done instantly, however, to double-check whether the new address has been updated or not, the policyholder will have to go through the policy document.
The process usually takes very little time if not an instant. In case the procedure takes more time than anticipated, the policyholder gets an intimation letter from LIC.
Once the policyholder receives the update from LIC, he/she must cross-check by logging in to the portal.
Important Points to Note:
You can access the enrolled policies only after the LIC branch has verified the enrollment form.
You cannot update your address on the website if the above-mentioned step is not done accurately.
Registration of any grievance can also be done online through the website.
If your account has any misinformation or discrepancy, it can be brought to the notice of LIC via an email or letter.
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I have used for 12 years, i have used the MONEY BACK i have received the amount for 4 years once. The maturity period is for 12 years and it gives the policy coverage is for self. The sum assured given with the policy was good. The customer support is good.
Since its long time term policy. If anything happens the policy covers for life and family will get secured. Last 6 years before, I took this policy. LIC is a government company and they are trustable hence I have purchased the policy with them. I have been paying the premium amount of Rs. 26026 for every six months. Iâ??m satisfied with the sum assured amount.
I have term plan with HDFC life, I have chosen the sum assured of Rs. 75 lakhs it has the duration of 50 years, life cover is upto 75 years. I make the premium around Rs. 800 per month, it has tax cover, critical illness, waiver on premium at disability. Cancer and Heart attack cover is also there.
The reason for getting the policy is because it has provided with the good service. I am using the plan from last more than 20 years. The maturity period is for 30 years and the coverage is for self. The premium paying for yearly once as 12K with the policy.
I have got the policy along with the home loan taken the DHFL. The maturity period is for 15 years where 10 years i have to pay for yearly once of 25K. It is a TERM PLAN, the documentation process was done and i have received the hard copy too of the policy.
I am holding the JEEVAN ANAND plan with LIC where i am using from last 11 years, the reason for taking the policy is it is good. The maturity period of the policy is for 25 years, the premium paying for monthly once. The coverage is for self with the policy.
I have taken a life insurance in LIC on 10 years before. The policy is for 20 years. I am paying premium in the quarterly package. While getting a policy my agent has given an information about the policy details and provided hard copy documents on time. I use to do payment by providing a cheque to an agent.
I have taken a term insurance in SBI LIFE on 3 years before.The policy is money back for 10 years. I am paying premium in the yearly package. While getting a policy my agent has given an information about the policy details and delay to provide the documents. At an initial they have told to pay only for 3 times but later it for 7 years.
I have taken a life insurance in LIC before 4 years ago. The policy is for 20 years. I am paying premium in the yearly package. While getting a policy my agent has given an information about the policy details and provided hard copy documents on time. I use to pay the amount to an agent.
I have multiple policy with LIC and am just paying the policy, not availed the benefits. I pay online and never contacted the customer support. I am paying yearly 1.5L and the payment mode is easy. I took this policies for future savings and tax benefits.
I have taken a life insurance in LIC on 2 years before. The policy is for 15 years.I am paying premium in the quarterly package. While getting a policy my agent has given an information about the policy details and received a hard copy documents on time. Use to do payments by visiting directly to office.
I pay Rs. 50,000 per annum for multiple policies and it has different tenure period and all has tax saving coverage. Even the sum assured is get vary according to the payment which we pay. The agents are professional, I would like to recommended these policies to all.
At the time of my invest, LIC was a best company. I have chosen the policy 10 years back. I am paying the premium amount of Rs. 10,718 for the term period of 20 years. I select the annual payment mode. I will get a sum assured amount of Rs. 2 lakhs.
Life Insurance Corporation of India have given me a good amount money when it is paid back. I have invested a money of Rs. 1 lakhs and i have received Rs. 1.73 lakhs after 16 years with a maturity. I make the premium through my account as a Standing instructions.
I am using the accidental policy where using from last 8months with HDFC LIFE. The premium paying was monthly once with the insurance policy. The benefits with the policy is good but i have not received the hard copy, coverage is for 20L.
I am using the JEEVAN ANAND plan since from last 12 years with LIFE INSURANCE CORPORATION OF INDIA the maturity period is for 20 years with the insurance policy. The premium paying was yearly once, it gives the policy coverage for self.
I have taken a Pradan Mantri Plan from SBI Life when it was launched. I am paying 300 rupees annually for myself and my wife. I think, if accidental death is happened then the benefits can be claimed. I have enabled auto debit option for the payment.
I took a money back policy with Bajaj Allianz and the policy period is 16 years. It was recommended by one of my colleague. I have received the insurance copy and the payment mode is easy. It was taken for future savings because I am blessed with 2 daughters.
I have taken 3policies with LIC, all are endowment policies. LIC is a trusted company and they are reliable in India so have interested to take a policy. I am happy with the benefits. I need to pay the premium for 21 years. Previously I made cash payment and now its convenient to pay online.
No reason for choosing my insurance policy from HDFC. For income tax returns i bought the policy. I'm paying the premium upto 7 years and after 10 years i will get the returns to my account. I have been paying the premium amount of Rs. 12148 which is a annual payment. The premium is auto deducted from my account