How Does LIC Life Insurance Work In India?

How to Check Fund Value of LIC Life Insurance Policy Online?

To check the fund value of your LIC (Life Insurance Corporation of India) life insurance policy online, follow these steps:

• Go to the official website of LIC.
• If you have already registered on LIC’s portal, log in using your username and password. If you haven't registered yet, you may need to create an account.
• Once you are logged in, navigate to the section that provides your policy details.
• After accessing your policy details, there should be an option to view the fund value of your policy.
• Additionally, you might be able to see the allocation of funds across different investment options if your policy offers multiple investment choices.

How to Download LIC Life Insurance Statement?

To download a LIC life insurance policy statement, you typically need to follow the below steps.

• Visit the official website of LIC Life Insurance Company.
• Click on the “Customer Services” tab. Then click on “Download Policy Statement”.
• Log into your account by providing your policy number and date of birth.
• If you haven't registered for an online account, you may need to create an account.
• Once logged in, find the option to download or view your policy statement.
• Verify that the document includes details such as policy coverage, beneficiaries, premiums, and any other relevant information.
• Then click on the relevant button to download the policy statement.
• If you encounter any issues, consider reaching out to your insurance company's customer support. They may be able to assist you in obtaining the necessary statements.

Can I Cancel My LIC Life Insurance Policy within 15 Days?

LIC Life Insurance Company offers a free-look period during which the policyholder can cancel the policy if they are not satisfied with the terms and conditions and receive a refund of premiums paid. The free-look period is usually 15 days to 30 days from the date of receiving the policy document.

How to Know the Fund Value of LIC Life Insurance?

To determine the fund value of LIC life insurance, you'll need to follow the below steps.

• The first step is to review your life insurance policy documents. The fund value is typically mentioned in statements or reports provided by the insurance company.
• If you can't find the information in your policy documents, visit LIC Life Insurance Company's official website to know your fund value.
• Then click on the customer login portal under the Login button. Enter your details such as policy number, mobile number and date of birth to log in to your account.
• Once logged in, you will be directed to your account dashboard.  Within the policy details section, you may find the fund value, premium payments, and other details online.
• If you have any difficulties in locating the fund value online, you can reach out to the life insurer’s customer support. They will be able to assist you in retrieving the fund value.

How to Check LIC Life Insurance Policy Surrender Value?

To check the surrender value of a LIC life insurance policy, you can follow the below steps:

• Contact the Insurance Company: Reach out to the customer service department of LIC Life Insurance Company and provide your policy details, including the policy number, name, and any other information. Then customer service representative will tell you about the surrender value details.
• Check Policy Documents: Review your policy documents, as they may also contain information about the surrender value and the process for surrendering the policy. The surrender value is often explained in the policy terms and conditions.
• Online Account Access: If you have an online account with LIC Life Insurance Company, log in to the official website. Check if they provide access to policy-related information, including the surrender value.