How to Check LIC Policy Status Online, by SMS & Customer Care?

Whenever the topic of “Insurance Policy” arises, the only trusted name that comes to the minds of most people is Life Insurance Corporation of India. LIC is one of the trusted names for millions of policyholders across the country. Once you have purchased the policy, it is equally important for you to know all the details regarding the policy. Some of the details of the policy include premium payments, policy status, bonus amounts, nominee information, and so on.

In this blog page, we will discuss in detail how to check everything related to your LIC policy. This can be done quickly, easily within the comforts of your home.

Why It Is Important to Check Your LIC Policy Regularly?

Several factors make it necessary to check your LIC Policy on a regular basis. It is a busy life these days with people juggling between various activities. Managing a healthy work-life balance has become a task in itself. Individuals need constant reminders on financial transactions so that they do not miss important payments. One such important payment is paying your life insurance premium.

Most individuals holding an insurance policy would like to make their premium payments yearly due to various feasible conditions. It is more evident that they miss this important date. So, one of the important reasons to check your Life Insurance Policy is that there needs to be a reminder on your premium payment date.

Life Insurance Corporation of India expects you to make regular payments of your premium amount, failing which can make things worse for the policyholder. There is a possibility that your policy might even lapse that will hinder you from availing yourself of the benefits attached with the policy. It is always a good practice to check on your policy regularly and keep yourself updated on the latest details on payment-related affairs.

What are the Benefits of Regular LIC Policy Status Check?

An LIC policy taken is of paramount importance in times of emergencies. You need to have a proper check on your policy to ensure that it gives you the maximum returns. The following is the list of benefits that comes along with a LIC Policy Status check. They are:

Staying Updated on Policy Details:

Checking the policy status on a regular basis will help you to know the details of the policy. This includes the policy term, policy maturity date, policy term, and the sum assured. This information will help you to manage your finances accordingly and not miss your payments schedule.

Avoid Policy Lapse:

If premium payments are missed by you at any point of time. Your policy will lapse and there is a chance that you will also lose the benefits that are associated with it. You can check your policy details with the help of your policy number and ensure you do not miss your payments.

Make Alterations to the Policy:

In case you want to make any changes to your policy like changing the amount of sum assured, the terms of the policy, you should keep yourself aware of the LIC Policy Status. You need to check the status of the policy in order to make changes.

Updated About the Policy Performance:

You can check the performance of your policy with the help of your policy number. You can check the returns generated and the bonus accrued. The effectiveness of the policy can be easily assessed, and this will also help you to make changes to it accordingly.

Check Loan Eligibility and Surrender Value:

Checking the LIC Policy Status helps you to find the loan eligibility for the policy and its current surrender value.

Download Premium Receipts and Statements:

When you do a LIC Policy Status Check with the policy number, you can download various premium receipts and statements that are associated with it.

Different Ways to Check Your LIC Policy Status

There used to be a time when you would visit the LIC branches or contact your LIC agent to find the details of the policy and the various benefits attached to it. But with the Internet swarming the world with information and the entire system being digitalized. LIC of India has also changed the way it works and how it deals with various customers. LIC also offers online and mobile services to most of its customers to give them the latest information that is attached to their policy.

The following are some of the various methods to check your LIC Policy status. They are:

Using the LIC Online Customer Portal

You need to fill in the registration form given on the LIC’s official website. On this page, you need to provide various details like your Date of Birth, Policy Number, Premium Amount, Email Address. Once you have registered your details, you will get an automated email on your registered email ID to complete the verification process. Once the verification is done, you can go ahead and check the status of your policy.

The details that you can check through the policy include your bonuses, premium payments, and any benefits attached with the policy. All you need to do is to log in to the LIC website and feed in the requisite details. The list of steps that needs to be followed while checking the LIC policy are:

Visit the LIC website and click the option “Online Services”.

• Visit the LIC of India website
• Choose Login
• Select the Customer Portal option.
• You will be routed to another page select the option “Don’t Have an Account? Sign Up” option.
• You will be asked to key in your Policy Number, Premium Amount, Date of Birth, Mobile Number, Email ID, PAN Number, Gender and click the Proceed button.
• You will be asked to key in the User ID and Password.
• Click the ‘Submit’ Button.
• A verification link is sent to your mail ID. Press the verification link and confirm your User ID and Password.
• Go to the main page of LIC of India and Click Login
• Select the Customer Portal option.
• Key in the User ID and Password option.
• Click Login.
• You will find the list of enrolled policies under your name.
• In case you have not enrolled in any of the policies, you can enroll in the same and all the details attached with the policy get updated.
• Once you click on the Policy Number, the detail of the entire policy gets updated.

Using LIC Mobile and SMS Services

Another alternative, policyholders have to check their policy information is through the SMS and Phone Call service. If you have not registered under the LIC of India website, you can use the mobile and SMS facility to enquire about the status of your policy. This is to ensure inclusivity for the policyholders who do not have internet access.

• The SMS facility that is offered by the LIC is one service that is aimed to bring clarity on the processes. This will help customers stay updated through the policy term. To LIC policy Status through SMS:
• Type ASKLIC followed by the specific code and send it to 9222492224. You can also message SMS LICHELP to 9222492224
• In order to know the status of your policy through SMS, type ASKLIC

Visiting the Nearest LIC Branch or Calling Customer Care

• Visit the nearest LIC Branch.
• Carry a valid Photo ID.
• Take your LIC Policy Number along with you.
• Go to the customer service desk and request for the policy details.
• The LIC representative will provide you:
• The Premium Due Dates
• The Policy status
• The total Bonus Accrued
• The Nominee Details
• The Maturity or Surrender Value
• Tip: It is a good idea to go during the weekdays in the morning to avoid long queues.

Call LIC Customer Care

You can get in touch with the Toll-Free number 1800-33-4433 between Monday to Friday from 8:00 AM to 8:00 PM. One thing that needs to be kept in mind is that you need to keep the policy number handy. You need to be ready with a few verifications' questions for security. You will get to know about the

• Policy status and Premium Dues
• Details about your next premium dates
• Policy maturity or loan information

Note: LIC might not reveal sensitive information over the phone unless the authenticity of the caller is established.

How to Check the Surrender Value of LIC Policy?

To check the surrender value of the LIC Policy, you can check the official LIC website and log into your account to check the policy details or calculate the surrender value with the help of the formula.

Surrender Value = [{(Number of Premiums Paid/Total No. Of Premiums) * Sum Assured} + Accrued Bonus]

The Surrender Value Factor is determined by LIC and will vary depending on the policy year of surrender. This Surrender Value is applicable after 3 continuous payments of LIC Premiums. Surrendering your policy will amount to a loss as this may result in a low payout compared to your maturity amount. Before surrendering the policy explore various options like taking a loan against the policy or making it as a paid-up policy.

What To Do If You Notice Errors in Your LIC Policy?

There are times when you want to make changes to your policy details. This might include the change in address, email, phone number, and so on. There are situations where certain details will be displayed on your document due to some typographical errors. In those cases, LIC of India gives you the option to affix these errors.

Name Change:

There might be times where you want to change the name of the policyholder. The circumstances where the name of the policyholder will be changed.

• If there is any spelling error in the name of the insured.
• If the insured has changed his surname due to various reasons.
• If a woman gets married and if she wants to change her sur name after marriage.
• If the insured has changed his/her name legally
• If the insured has his/her name legally changed for a specific reason.

Changing the Name of the Insured in the Policy Document:

Modifying or changing the name of the insured in the Life Insurance Policy document is an easy process. The steps that need to be followed for the name change includes:

• Gather the required documents.
• Get the original LIC document.
• A name change request letter.
• Proof of Name Change.
• Passport Sized Photograph
• Visit Nearest LIC Branch.
• Fill in the requisite forms provided to you for the name change request.
• Attach the necessary documents. Some of the documents that are accepted for the name change request includes:
• Newspaper advertisement
• Gazette Notification
• Affidavit
• Marriage Certificate
• Adoption deed document
• Submit the request.
• LIC will process your request and change the name in the document. Within a few weeks' time, you will receive the updated policy document.

The process is the same even with address change. But the only change is that you need to attach the Proof of residence documents along with the list of documents.

Modifying the Nominee in your LIC Policy:

If you want to change the nominee of the policy, you need to follow the series of steps as given below:

• Obtain the Nominee Change Form.
• Fill in the form and provide the accurate details for the new nominee.
• Attach the supporting documents. This includes proof of identity and relationship with the nominee along with their photographs.
• Submit the Form along with the supporting documents to the LIC branch.
• On submission of the form, you will receive a confirmation letter of the updated Nominee details.

Important Pointers

Name change can be done by the LIC officials in the Home Branch.

• Always carry the original copies of the document during the Name Change process.
• Verify all the data entered in the request form is true and corresponds with all the supporting documents.
• Go through the list of rules and regulations process in LIC of India before beginning the changes in the LIC document.
• It is always a good idea to change the name in case of any errors in the policy document. Though the process might take a little time, it will help you to avoid any issues during the claim settlement process.

Disclaimer: This page includes information that has been compiled from many sources and is only offered for informational purposes. Given this type of data might change over time, we cannot guarantee that the information supplied or included within it is accurate. It is anticipated that the user would confirm with the relevant source prior to taking any choices or actions.