LIC Policy: How to Change Policyholder’s Name

Life insurance policy is nothing but a simple contract between an insurance provider and an insured. The policyholder pays a certain amount of money known as the premium which is predetermined. A life insurance policy insures the life of the insured by providing a lump sum amount of money to his/her family after his/her death.

It is basically a financial coverage that acts as a boon for the family members of the insured. Moreover, if the family has a sole breadwinner, it becomes even more important for him/her (the breadwinner) to invest in a life insurance policy. One must analyse the needs of one’s family carefully before choosing a life cover. The family should be able to reap maximum benefits from the cover and the maturity benefit must also be high.

Apart from insuring the insured and his family, life insurance policies can act as investment tools as well. If you have a financial debt that needs to be paid off at a certain point of time, your life insurance policy can help pay off the same.

Circumstances Under Which Name Change on LIC Policy is Allowed

  • If a woman wants to change her surname post marriage
  • If a couple has adopted a child and wants their surname after his/her name (legalise the adoption)
  • If the insured has his/her name legally changed for a specific reason
  • If the insured has his/her surname legally changed for a specific reason
  • If the name of the policyholder has some disparity (misspelling)

How to Change Name of the Insured on the Policy Document

Modifying or changing names on an existing life insurance policy is easy and convenient. The following steps can be referred to for the same:

  • Fetch the original copy of the policy document and visit the home LIC branch from where you had purchased the policy in the first place (any LIC branch will not be able to assist you with this problem).
  • Proof of identity in this regard is important, therefore, carry originals of your Voter’s ID or Aadhaar card (this is required to identify the correct spelling of your name).
  • Once you have submitted the required documents and have raised a request for your name change, LIC officials will do the needful at the earliest.

Documentary Proofs Required for Name Change

In order to successfully modify the name of the insured in LIC policy document, one needs to produce certain evidence to support the change. Presenting either one of these evidence at the time of name change will suffice:

  • Gazette Notification
  • Newspaper Advertisement
  • Affidavit
  • Marriage Certificate
  • Adoption Deed Document (in case of adoptions only)

Important Points to Keep in Mind:

  • Name change can only be done by LIC officials from the home branch
  • Documents such as passport and PAN card are typically required during a name change
  • Consulting a life insurance expert before commencing the name change process is advisable to avoid errors
  • Original copies of documents along with affidavit must be carried along at all times

Additionally, it is also important to read through the policy guidelines on the website before commencing the process.

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Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

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