About LIC of India and Its Services

Life Insurance Corporation of India (LIC of India) is an Indian state-owned insurance and investment corporation that was established on September 1, 1956, when the Parliament of India passed the Life Insurance of India Act that nationalized the insurance industry in India.

Over 245 insurance companies and provident societies were merged to create the state-owned Life Insurance Corporation of India.

Contents

• Introduction
• Login
• Merchant Portal
• Agents Portal
• Online Payment
• Policy Status
• Filing For Claim
• Documents Required To Buy Policy
• Policies
  • Endowment Plans
  • Term Assurance Plans
  • Money-Back Plans
  • Rider Plans
  • Health Plans
  • Unit Linked Plans
  • Micro Insurance Plans
  • Whole Life Plan
  • Pension Plans
  • Unit Plans
  • Withdrawn Plans

1. Introduction

LIC of India is one of the largest insurance and investment corporations and is also rated as the most trusted insurance company in India. It is headquartered in Mumbai and has around 113 divisional offices, 8 zonal offices, 2048 branches, and 992 satellite offices and corporate offices.

A huge range of services is provided by LIC of India comprising Endowment Plans, Term Insurance Plans, Money Back Plans, Pension Plans, Unit Plans, and Health Insurance Plans.

2. Login

The login page of LIC of India is the same for all the customers, agents, merchants, and development officers. To log into the LIC of India you have to first register which will generate a username and password for you with which you can log in to the account and check your policy status or pay your premiums.

New Customer Login

Registered User

Follow step 1 and step 2 same as New User and at step 3 instead of New User, click on Registered User where you will be directed to a page where you need to fill in the details to log in to your account.

In case you forgot your Id or password, LIC of India provides you the service of setting up a new one by following a certain procedure.

• In case you forgot your password

Visit the registered user page and find the Forgot User Id/Password? an option that will redirect you to the following page where you can select the password option and fill in the details.

• In case you forgot your User Id

Visit the registered user page and find the Forgot User Id/Password? an option that will redirect you to the following page where you can select the User ID option and fill in the details.

3. Merchant Portal

LIC Merchants are the authorized person who can collect the insurance policy premium for LIC of India using login to LIC Merchant Portal.

To know more about LIC of India Merchant Portal and how to login to the merchant portal please visit: How to Login on LIC Merchant Portal

4. Agents Portal

Agents Portal is the login for all the registered agents with LIC of India where an agent can login with his/her user code and password.

Eligibility to be an agent for LIC of India

• Candidates need to qualify for the LIC Agents’ pre-licensing test conducted by the Insurance Regulatory and Development Authority of India (IRDA).
• To appear in the test, candidates must at least 18 years old and have passed 10th from a recognized board.

Benefits of LIC agent

There are basically two types of LIC agent benefits which are survival benefits and death benefits.

Survival Benefits include E.R.C (Eligibility for Renewal Commission), Gratuity, EMBG, and Samvardan pension scheme.

Death Benefits include H.R.C (Heriditory Renewal Commission), Gratuity, Term Insurance, and Group Insurance.

5. Online Payment

LIC premium amount was paid through Life Insurance Corporation of India (LIC) agent or by going to the nearest branch office. Now LIC of India has started online payment services to pay LIC monthly/Quarterly/Half yearly/Annually premium.

To know more about online payment for LIC of India please visit: How to Pay LIC Premium Online

6. Policy Status

There are multiple ways of checking your policy status of LIC of India.

LIC of India Login Portal

You can know your policy status by logging into your account on the official website of LIC of India and if you do not have an account already you can create a new account by registering your details in the following ways.

For New Users

• Log in to https://licindia.in
• On the left-hand side, you will find the option customer portal.
• After the customer portal click on the new user
• You will be directed to a form where you have to fill in all the details accurately.
• After filling the form click on proceed which will complete your registration process.

Or you can directly click on LIC of India e-service login page which will redirect you to the login page.

On completing the LIC of India registration process, you will be asked the question, “Do you have any LIC policies?”. On clicking yes, you will be presented with an enrolment form in which you will be required to enter your policy number, premium, and name of Life Assured.

If the policy information provided by the policyholder is error-free then the LIC policy status will be displayed online. 

For Registered Users

Follow step 1 and step 2 same as New User and at step 3 instead of New User, click on Registered User where you will be directed to a page where you need to fill in the details to log in to your account.

Or you can directly click on LIC of India e-service login page which will redirect you to the login page.

You will then be asked the question, “Do you have any LIC policies?”. On clicking yes, you will be presented with an enrolment form in which you will be required to enter your policy number, premium, and name of Life Assured.

If the policy information provided by the policyholder is error-free then the LIC policy status will be displayed online. 

LIC of India SMS Service

To check the status of your policy with LIC of India , you can send an SMS to 56767877

• Type of Enquiry SMS code
  • For installment premium: ASKLIC PREMIUM
  • For revival amount: ASKLIC REVIVAL
  • To know bonus additions: ASKLIC BONUS
  • To know the amount of loan available: ASKLIC LOAN
  • For nomination details: ASKLIC NOM

LIC of India Customer Care

LIC of India provides 24*7 customer care facility with the help of which you can know the status of your policy with just one call.

Helpline number for MTNL and BSNL users is 12151

For calls from all other landline and mobile, Dial city code followed by 12151

7. Filing For Claim

As per IRDAI the claim settlement ratio of LIC of India for the year 2019-2020 is 96.69%.

• Maturity Claim:
  • Duly filled maturity claim form
  • Original policy document from LIC of India or Indemnity Bond as a substitute
  • Canceled cheque/copy of the Passbook of the bank where you prefer receiving the maturity claim.
  • KYC (In case of any change in address)
  • In case the documents are submitted by an individual other than the policyholder, his/her Proof of Identity along with an authorization letter.

• Death Claim:
  • Certificate of Death
  • Proof of Age of the life assured
  • Policy Document
  • Deeds of assignment/reassignments (if required)

Any document as per the requirement of the insurer For early Death Claim, i.e. claim for death that has occurred within three years from the purchase of the policy, the required documents are:

• Certificate of the medical attendant of the deceased giving details of his/her last illness
• Certificate of cremation or burial is to be submitted by an individual who is known to the deceased and was present at the cremation of the body of the deceased
• Statement from the hospital in case the deceased policyholder had been admitted to a hospital

Click to Download LIC Forms

8. Documents Required To Buy a LIC Policy

• Proof of Age: Aadhaar Card, PAN Card, Passport, Driving License, School Certificate, etc.
• Proof of Residence: Passport, PAN Card, Aadhaar Card, Voter ID, Driving License, Electricity Bill, Water Bill, Telephone Bill, Credit Card Bill, bank Passbook, rent agreement, etc.)
• Photo ID Proof: Documents with applicant’s photographs like Aadhaar Card, PAN Card, Passport, Driving License, Voter ID, Bank Passbook and Ration Card, etc.
• Proof of Income (when total premium exceeds Rs. 1 lakh): Salary slip, Form 16, Income Tax Returns (ITR), Pension Passbook, etc.
• Self-attested photograph

9. Best LIC Policies

LIC of India is a proud association of more than 245 insurance companies and provident societies that offers numerous plans for your security and well-being.

Endowment Plans

New Endowment Plan

It is a participating non-linked plan which offers an attractive combination of protection and saving features.

The combination provides financial support for the family of the deceased policyholder any time before maturity and good lump sum amount at the time of maturity for the surviving policyholders.

Single Premium Endowment Plan

A participating non-linked savings cum protection plan, where the premium is paid in a lump sum at the outset of the policy.

The combination provides financial protection against death during the policy term with the provision of payment of lumpsum at the end of the selected policy term in case of his/her survival.

New Bima Bachat

A participating non-linked savings cum protection plan, where premium is paid in lump sum at the outset of the policy.

It is a money-back plan which provides financial protection against death during the policy term with the provision of payment of survival benefits at specified durations during the policy term.

In addition, on maturity, the single premium shall be returned along with Loyalty Addition, if any.

Jeevan Lakshya

A participating non-linked plan which offers a combination of protection and savings.

The plan provides for Annual Income benefit that may help to fulfill the needs of the family, primarily for the benefit of children, in case of unfortunate death of Policyholder any time before maturity and a lump sum amount at the time of maturity irrespective of survival of the Policyholder.

New Jeevan Anand

A participating non-linked plan offers an attractive combination of protection and savings.

The combination provides financial protection against death throughout the lifetime of the policyholder with the provision of payment of lumpsum at the end of the selected policy term in case of his/her survival. Read more

Jeevan Labh

A limited premium paying, non-linked, with-profit endowment plan which offers a combination of protection and savings.

The plan provides financial support for the family in case of unfortunate death of the policyholder any time before maturity and a lump sum amount at the time of maturity for the surviving policyholder. 

• Aadhar Stambh
• Aadhar Shila

Whole Life Plan

Jeevan Umang

It offers a combination of income and protection to your family. This plan provides for annual survival benefits from the end of the premium paying term till maturity and a lump sum payment at the time of maturity or on death of the policyholder during the policy term. Read more

Money Back Plans

New Money Back Plan – 20 Years

A participating non-linked plan offers an attractive combination of protection against death throughout the term of the plan along with the periodic payment on survival at specified durations during the term.

The unique combination provides financial support for the family of the deceased policyholder any time before maturity and lump sum amount at the time of maturity for the surviving policyholders.

New Money Back Plan – 25 Years

A participating non-linked plan offers an attractive combination of protection against death throughout the term of the plan along with the periodic payment on survival at specified durations during the term.

The unique combination provides financial support for the family of the deceased policyholder any time before maturity and lump sum amount at the time of maturity for the surviving policyholders.

Jeevan Tarun

A participating non-linked limited premium payment plan offers an attractive combination of protection and saving features for children.

Specially designed to meet the educational and other needs of growing children through annual Survival Benefit payments from ages 20 to 24 years and Maturity Benefit at the age of 25 years.

Bima Shree

It is a non-linked, participating, individual, life assurance savings plan with a limited premium payment money back life insurance plan with minimum Basic Sum Assured of Rs. 10 lakhs especially designed for the targeted segment of High Net-worth Individuals.

Jeevan Shiromani

This plan is a non-linked, participating, individual, life assurance savings plan.

A limited premium payment money back life insurance plan with a minimum Basic Sum Assured of Rs. 1 crore especially designed for the targeted segment of High Net-worth Individuals.

• New Children’s Money Back Plan

Term Assurance Plans

Tech Term

It is a Non-Linked, Without Profit, Pure Protection “Online Term Assurance Policy” which provides financial protection to the insured’s family in case of his/her unfortunate demise.

Jeevan Amar

It is a Non-Linked, Without Profit, pure protection plan. The plan offers the flexibility to choose from two death benefit options viz: Level Sum Assured and increasing Sum Assured.

Rider Plans

• Linked Accidental Death Benefit Rider
• Accidental Death and Disability Benefit Rider
• Accident Benefit Rider
• Premium Waiver Benefit Rider
• New Critical Illness Benefit Rider
• New Term Assurance Rider

Pension Plans

• Pradhan Mantri Vaya Vandana Yojana
• Jeevan Akshay – VII
• New Jeevan Shanti

Unit Linked Plans

New Endowment Plus

IT is a unit-linked non-participating endowment assurance plan which offers investment cum insurance cover during the term of the policy.

Specially designed for you to provide a very good combination of protection and long-term savings and also provides you greater flexibility to build a better life and realize your dreams.

• Nivesh Plus
• SIIP

Micro Insurance Plans

New Jeevan Mangal

It is a protection plan with return of premiums on maturity, where you may pay the premiums either in lump sum or regularly over the term of the policy.

This plan has an in-built Accident Benefit which provides for double risk cover in case of accidental death.

• Micro Bachat Plan
• Bhagya Lakshmi

Health Plans

• Health Protection Plus
• Jeevan Aarogya
• Cancer Cover

Withdrawn Plans (2020-2021)

• Jeevan Shanti
• Jeevan Aarogya
• Cancer Cover
• New Critical Illness Benefit Rider

FAQs