LIC Unclaimed Amount: Non-claimimg can occur under any conditions, for example, passing case, maturity claim, endurance benefit, reimbursement claim or premium discount. Subtleties expected to really look at unclaimed sum in LIC-
LIC Policy Number
Policy Holder Name
Date of Birth
PAN Card
The most effective method to know your unclaimed and exceptional sum
To realize whether any sum under his LIC policy is lying unclaimed with the back up plan or not, he can get the data by entering the data given below is.
Stage 1: Go to the link https://customer.onlinelic.in/LICEPS/portlets/guest/unclaimedPolicyDues/UnclaimedPolicyDuesController.jpf
Stage 2: Enter every one of the necessary subtleties and tap on submit. You can claim the sum, if any, after KYC and accommodation of reports. Note that all payments because of policyholders connecting with insurance policies will be made through the particular account balances through any electronic mode.LIC rules about unclaimed accounts
If any sum is left unclaimed for over 10 years, the whole sum is moved to the Senior Citizens Welfare Fund, according to rules, such cash is utilized to support senior residents. As indicated by an administration notice, “The Government has given notice F.No. 13/20/2014/NS-II, dated 11.04.2017 has altered the guidelines and informed Life, General and Standalone Health Insurance organizations in the rundown of elements which are unclaimed to SCWF following 10 years will be obligated to move the sum.
Appropriately, all guarantors will guarantee that the unclaimed measures of the policyholders are kept in guardianship and contributed by the Authority under this round for a time of a long time from the due date. Unclaimed sum, on finish of a decade, vide warning F.No. 13/20/2014/NS-II dated 18.03.
What is IRDAI’s Rule
On Unclaimed Amount according to IRDAI’s round on Unclaimed Amount, “Unclaimed Amount” would incorporate any sum held by safety net providers yet payable to policyholders or recipients, including pay acquired consequently, The case has not been made for over a half year from the due date or the date of settlement of such sum, whichever is prior. According to the IRDAI round, “Each guarantor will need to cover their individual sites about any unclaimed amount of Rs.1000/ – or more.
When is a policy supposed to be claimless?
The policyholder or the recipient can claim the remarkable sum under his policy for a time of a long time from the date of move to the back up plan’s Senior Citizens Welfare Fund (SCWF). As per the IRDAI ace round, area 126 of the Finance Act, 2015 states that assuming no case is made inside 25 years of move to SCWF, the cash will go to the central government.
