LIC policyholder services

The Public Sector Life Insurance company The Life Insurance Corporation of India has been performing exemplarily, over the years, fulfilling the objectives of Nationalisation and won the trust of the country people. With more than 40 Crore Policyholders including regular and Group Insurance plans, LIC of India is the biggest Life Insurance Country in the World. The performance of LIC is phenomenal. LIC of India has paid the Government a whopping Rs. 28,000 Crores as dividend so far since inception. LIC pays 5% of the surplus generated through its operations as a dividend to the Government and distributes the remaining 95% to the policyholders as bonus. 

Source: Business Standard

LIC has invested more than Rs. 32 lakh crore for the Nation Building activities like construction of roads, housing, irrigation, electricity and for providing basic infrastructure to the people especially to the rural population. Today, LIC owns assets with Rs. 38 Lakhs crores (around 550 billion US dollars), which is more than the GDP of 75% of countries in the World. Claim settlement is the parameter that should define the efficiency of any life insurance company. With 99.86% claim settlement (2.29 Crore claims) in FY 2020-2021, LIC once again became World #1 in claim settlement. LIC has the lowest operating costs in the entire life Insurance Industry in India.

LIC of India has won so many National and International Awards for excelling in Corporate Governance, LIC had received “Golden Peacock” “Most Trusted Brand” ” Excellence in Corporate Governance etc. Awards from MARG and various reputed organizations. As per international reports of the UK, LIC was rated as the Most Valuable Branch throughout the globe. On the basis of Branch strength, LIC occupies the third position. The Brand value of LIC is immeasurable. 

LIC Policyholder services – www.licindia.in

LIC policyholder services can be accessed directly from LIC Online Portal. The website helps a lot to the Policyholders from registration, change of address, PAN status check, PAN updation, LIC premium payment, LIC loan payments, claim settlement process and documents required, updating contact details of their respective LIC Life Insurance policy from sitting at home. 

The online services include:  

LIC Premium pay online

Online PAN updation

LIC Policy Loan

Claim settlement process and documents

Update contact details online

LIC unclaimed Amount