The Life Insurance Corporation of India founded in 1956, is the biggest state-owned life insurance company in India. LIC is furthermore the country's biggest investor. It is completely belongs to the Government of India. It funds close to 24.6% of the Indian Government's expenses. It has assets approximated of 9.31 trillion (US$206.68 billion).
Its head office is located in Mumbai, the economic and financial capital of India. The Life Insurance Corporation of India actually has 8 zonal Offices and 101 divisional agencies established in distinct components of India, not less than 2048 parts established in distinct towns and villages of India along with satellite Offices adhered to about some 50 Branches, and has a mesh of round 1.2 million agencies for soliciting life protection enterprise from the public.
Your Policy Number
The policy number is consisting of nine digits and can be found at the top left hand corner of the schedule of your policy bond.
This is a unique identification number that differentiate your policies from other policies and will remain unchanged throughout the lifetime of the policy.
You should remember to quote the policy number every time in your correspondence, as it guides us to locate your records for reference.
Policy Conditions
Every policy is taken for different types of needs; therefore the conditions for your policy will vary according to the Plan and Term of the policy.
The policy schedule consists on the first page of your policy, as the ones mentioned above. Other information like nominee, your address etc are also given on your policy schedule. It also shows the date of commencement of your policy, date of birth, date of maturity, due dates and months in which the renewal premiums are to be paid etc.
The second page tells the various policy conditions like risk coverage, additional risks coverage if opted for, standard benefits that are available for all policies, accident benefit if opted for, exclusion of risks if any and other conditions that govern the contract of insurance.
Other than death benefits, various other standard benefits and benefits opted by the policyholder are mentioned, which you might want to familiarize yourself with.
Alterations In Policy
There are many option to make alterations in your policy like change of premium payment mode, reduction in premium paying term etc.
You may give your applications in writing to the branch that services your policy for our further action.
It is better for you to go: licindia.in for further assistance and help!
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