The Life Insurance Corporation (LIC) disclosed that unclaimed maturity amounts totaled ₹880.93 crore for the fiscal year 2023-24, impacting 3,72,282 policyholders. This marks an increase from ₹815.04 crore in the prior year, during which 3,73,329 policyholders failed to claim their maturity benefits.
To address, this has introduced several initiatives, including advertisements in print and digital media, radio jingles, and customer service enhancements to assist policyholders in claiming their rightful amounts.
How to Check Unclaimed LIC Maturity Amounts
LIC policyholders or their beneficiaries can verify if an amount is unclaimed using these steps:
- Visit the LIC website
- Navigate to Customer Service: Click on ‘Unclaimed Amounts of Policy Holders’.
- Enter Required Details:
- Policy number (mandatory)
- Policyholder’s name (mandatory)
- Date of birth (mandatory)
- PAN card number (if available)
- Submit Information: Click ‘Submit’ to view any unclaimed amounts.
Steps to Claim LIC Maturity Amounts Online
LIC’s customers can file maturity claims electronically, eliminating the need for in-person documentation submission.
Key Steps for Online Claims Submission:
- Notification: LIC will notify the policyholder two months before the maturity date.
- Required Documentation: Submit the following:
- Completed discharge form
- Policy document
- NEFT mandate form (including bank account details and documentation)
- KYC documents
- Submission: Upload these documents online via the website.
- Payment Processing: The maturity amount will be credited to the policyholder’s bank account on the specified date.
Death Claims
If the LIC policyholder passes away, the death claim amount will be settled if:
- Premium payments are up-to-date, or
- Death occurs during the policy’s grace period.
Required Documents:
- LIC Claim Form A: Details of the deceased and the claimant
- Certified death certificate
- Proof of age (if not already verified)
- Original policy document
- Evidence of title to the estate (if there’s no nomination/assignment of policy)
Additional LIC Forms (if applicable):
- Form B: Medical Attendant’s Certificate
- Form B1: If hospitalized, treatment certificate
- Form B2: Medical history prior to last illness
- Form C: Identity and burial/cremation certificate
- Form E: Employer certificate for employed policyholders
Accidental/Unnatural Deaths:
Additional documents such as the First Information Report (FIR), Post-mortem report, and Police Investigation Report are necessary to verify the claim’s validity.
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Enhancing Claims Awareness and Timely Settlements
LIC’s ongoing focus is on reducing unclaimed and outstanding claims through effective communication and streamlined processes. By understanding and fulfilling claim requirements, policyholders and beneficiaries can ensure timely access to benefits.
For further assistance, policyholders are advised to visit the official LIC website or contact the nearest LIC branch.
