Which documents are required for LIC maturity claim?
Documents Required for Maturity Claim Discharge
- Original LIC Policy Document.
- Identity Proof.
- Age Proof (if not submitted previously)
- Cancelled Cheque leaf or a copy of the Policy holder’s Bank Passbook.
- NEFT Mandate Form (to transfer the maturity proceeds directly to the policyholder’s account)
Which form is used for LIC maturity?
Maturity Claims: The servicing Branch usually sends maturity claim intimations two months in advance. Please submit your Discharged Receipt in Form No. 3825 with original policy document atleast one month before the due date so that the payment is received before the due date of maturity claim.
How can I claim LIC policy after death?
To start death claim filing process, the nominee is required to visit the home branch of LIC from where the policy was issued and inform them about the death of the policyholder. The branch official will give Form 3783, Form 3801, and NEFT forms for the transfer of funds into the nominee’s bank account.
What is 3510 form in LIC?
This is an Application Form 5704/3510 for the LIC policyholder who wants to surrender his/her life insurance policy or make a partial withdrawal from the policy fund and this form can be download from the link given below free of cost.
Can I claim LIC maturity online?
Due to lockdown and policy restrictions, LIC allowed its policyholders to submit maturity claim related documents online. The required documents were required to be scanned and then submitted via email to the servicing branch.
What is the process after maturity LIC policy?
Once the documents are sent to the insurance company, upon verification, the insurance company will process the maturity claim and make the payment to the policyholder. The maturity proceeds will be credited directly to the bank account of the policyholder after the policy maturity date.
Can I submit LIC maturity claim online?
1. Can I claim LIC maturity amount online? Yes, Life Insurance Corporation of India has activated its online portal for claiming policy online. You can easily submit your LIC policy maturity claim online.
Is LIC maturity amount taxable?
Therefore, the insurance maturity proceeds are taxable, and not entitled to exemption under section 10(10D) of the Income Tax Act. Sandesh surrendered the policy on maturity on 16 September 2019. Since the maturity payment is above Rs 1 lakh, the insurance company is liable to deduct tax on the maturity proceeds.
How long does it take for LIC death claim?
As per the time limits set by the Insurance Regulatory and Development Authority (IRDA) of India, insurers should settle death claim within 30 days. This condition applies to all claims where the insurer does not see the need to investigate the cause of death.
Is postmortem compulsory to claim insurance?
Postmortem report: This is required in case of an unnatural death. The insurance terms and the payout sums change according to the nature of death – and a post-mortem report can provide the clarity that the insurance companies need to process the claim.
How do you fill LIC form No 3510?
How do you fill LIC form No 3510? The first consists of details like the name of the policyholder, policy number, date of submission of the form, maturity date, signature, and address of the policyholder. On the second page, you need to mention the details of the witness along with the signature.
When the maturity claim is payable?
Maturity claim is payable when the insured survives policy term. Maturity Claim is associated with the Maturity Benefit of the Policy i.e. the claim which arises when the policy matures.
What is an annexure-1(a)?
Annexure-1(A) ADDENDUM TO THE APPLICATION FOR INSURANCE UNDER SSS 119 the Scheme at the rate of 5% of the premium exclusi Annexure-1(A)
What are the different LIC annuity plans?
Pension/Annuity Plan Pradhan Mantri Vaya Vandana Yojana-842 Jeevan Akshay-VI–189 LIC’s New Jeevan Nidhi-818 Varishtha Pension Bima Yojana-828 Term Plan NEW Anmol Jeevan -822 NEW Amulya Jeevan -823 Health Plan LIC’s JEEVAN AROGYA-904 Latest News No plan to take LIC Nomura Mutual Fund public: LIC chairman
What are the different types of LIC plans?
-LIC’s Limited Premium Endowment Plan-830 -LIC’s Jeevan Sangam-831 -LIC’s Jeevan Lakshya-833 Money Back Plan -LIC’s Bima Diamond-841 -LIC’s Jeevan Tarun-834 -Lic’s New Money Back Plan – 20 Years-820 -Lic’s New Money Back Plan – 25 Years-821 -Lic’s New Bima Bachat-816 -LIC’s New Children’s Money Back Plan (Plan no. -832 ) Pension/Annuity Plan
How to get LIC policy help?
Help of a local agent/ development officer / branch office of LIC may be obtained. Addresses of our Offices can be obtained from the option: ‘locator’. Prescribed proposal form depending on the type of policy selected.