Revival means To bring back to life. In case of LIC Revival is required when a policy gets lapsed if the premium is not paid within the grace period (minimum 1 month if mode of payment is Yearly/Half-yearly/Qly and 15days if the mode is monthly). If a policy gets lapsed, it can be revived any time within 5 years from the date of first unpaid premium (FUP) the lapsed policy can be revived under the following 5 different schemes. Pension payment modes are available : Monthly / Quarterly/Half-yearly /Yearly Pension will be paid at the end of each period as per payment mode chosen starts as early as next month if monthly mode is chosen. On the death of the pensioner at any time during the term of 10 years, the purchase price will be refunded to the legal heirs/nominees.
A maturity claim is one of the simplest claim procedures with minimal paperwork involved. In a life insurance policy with maturity benefits, the insured will be entitled to claim maturity benefits if he or she outlives the term of the policyThe procedure of paying Maturity Claim is the simplest among all claims, where the life insured needs to fill up a form called the policy discharge form and the maturity amount is paid out without much hassles.
Change In Nomination
Process of change the nomination in LIC Policy: A policy holder can change his nomination during the policy term and it can be changed any number of times. To change the nomination in LIC policy, the policyholder has to give a notice to LIC OF INDIA in a specified form (Form 3750) and nomination has to be endorsed Process of change the nomination in LIC Policy: A policy holder can change his nomination during the policy term and it can be changed any number of times. To change the nomination in LIC policy, the policyholder has to give a notice to LIC OF INDIA in a specified form (Form 3750) and nomination has to be endorsed.
Change In Address
You can change LIC policy address offline and online. ... Click ,Click to Enrol New policies and click Proceed. ... The LIC Branch will verify the detail and then enroll the policies under your user-id for your access to the policy details on the web site. ... Update your new address and submit. Money back plans protect your family's financial interests from circumstances such as death or critical illness of the policyholder. Periodic payouts create wealth for meeting financial commitments at key stages in life. Here at PolicyBazaar.com, you can carefully research, compare and choose a suitable money back life insurance plan for your needs.