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FAQs
Life Insurance
Sr. No. Topic
1. How can one arrive at the claim amount on the LIC policy?
2. Who should sign the Discharge Voucher of LIC under varying circumstances?
3. How can you stay protected with LIC policies if the key person important to your business dies?
4. What procedure should one follow to obtain a duplicate copy if the original LIC policy is lost?
5. How should one notify LIC in the change in address?
6. How to maintain all the premium receipts of LIC?
7. What are the requirements to settle the death claims of LIC policies?
8. How to ensure that the Form of Discharge of LIC is signed properly?
9. How to prevent my LIC policy from lapsing?
10. How can one revive a lapsed policy?
11. How to arrive at the claim amount on my LIC policy?
12. When can a nomination be done?
13. How do I revive my policy that has lapsed?
14. How do I surrender my policy?
15. What is nomination of the policy?
16. Can I change my nomination?
17. How do I notify my change in address?
18. What if I forget to make payment?
19. What If I lose my policy?
20. Can I assign a policy?
21. How do I make a maturity claim?
22. To whom is my death claim amount paid ?
23. How does the nominee/legal heir make a death claim ?
24. What additional requirements are there for an accident claim?
25. What additional requirements are there for a disability claim?
26. What conditions apply to a policy loan?
27. How do I surrender my policy?
28. Do I need to obtain a duplicate copy of my lost policy in case I wish to surrender my LIC policy?
29. What are the additional requirements to be fulfilled to settle death claims on LIC policies?
30. What are the requirements to be fulfilled for settling maturity claims of LIC?
31. What is the procedure for applying for a housing loan against my LIC policy?
32. What is Assignment of an LIC policy?
33. What do you mean by a paid-up LIC policy?
34. How is the Paid-up value of an LIC policy calculated?
35. What benefits are not accrued to a Paid-up LIC policy?
36. Should I allow my LIC policy to become a paid-up one?
37. What is the Free Disability Benefit on LIC policies?
38. What is the date of commencement of risk for LIC policies?
39. Who can attest the discharge vouchers of LIC policies?
40. Who should sign the Form of Discharge in case of LIC policies?
41. How can an NRI pay the premium on his LIC policy?
42. Can NRIs take Foreign-Currency policies of LIC?
43. What are the types of schemes offered by LIC to NRIs ?
44. When do you receive Annuity payments on LIC policies?
45. What is Nomination ?
46. What is an Annuity?
47. What is the Unit-Linked Insurance Plan (ULIP)?
48. Who are Insurance Brokers?
49. Which policy qualifies for Bonus eligibility?
50. What is the Double Accident Benefit (DAB) on LIC policies?
51. What are Loyalty Additions on LIC policies?
52. What is Surrender Value?
53. What are the conditions under which my LIC policy may lapse?
54. Is there a difference between an Agent and a Broker?
55. Is there any other benefit of buying insurance other than the risk cover?
56. What do you mean by Guaranteed Additions on LIC policies?