Table of Contents
- 1 What happens if I pay LIC premium twice?
- 2 What is receipt type E or P?
- 3 How can I cancel LIC policy in one year?
- 4 How can I check my LIC premium or not?
- 5 Can I get refund of lapsed LIC policy?
- 6 What is an insurance premium refund?
- 7 What should I do if my LIC premium paid by online fails?
- 8 Where can I get my renewal premium receipt from LIC?
Duplicate payment made through Bill Pay will be refunded to our service provider to be credited back to Policyholder’s account. The refund process shall take 6 to 8 days.
What is receipt type E or P?
An electronic receipt, or e-receipt, is a proof of purchase issued instead of a paper receipt, usually via email, for any goods or services that have been paid for.
What happens if LIC ECS bounces?
When ECS bounces, the next ECS will not be deducted until you deposit the pending and next month ECS as via cash or Demand Draft. Once you made the pending premium and bouncing charges, your ECS will start again.
How can I check my LIC balance online?
Check LIC Policy Status Online (For Registered User) Step 1: You must visit the e-Service Portal of LIC. The screen will show you two options namely, New User and Registered User. Click on the relevant option. Step 2: You will need to enter the LIC of India login credentials namely, your User Name and Password.
How can I cancel LIC policy in one year?
How To Surrender LIC Policy
- Original policy bond documents.
- Request for surrender value payment.
- LIC Surrender form- form 5074.
- LIC NEFT form.
- Bank account details.
- Original ID proof like Aadhar card, pan card or driving license.
- A cancelled cheque.
- Hand-written letter to LIC stating the reason to discontinue.
How to Check LIC Policy Details Online?
- Step 1: Go to the official LIC website, fill in your credentials like username and password.
- Step 2: Login to your account and select the option ‘View Enrolled Policies’.
- Step 3: You will be directed to a page where you can see all the listed enrolled policies.
Can I pay LIC premium after due date?
The renewal date of a policy is exactly one year after the previous year’s premium payment date. However, in order to make the premium payments easier, an insurance company like LIC allows a grace period of 30 days for paying the renewal premium.
Can we give stop payment of ECS?
If you have initiated ECS it cant be cancelled but Payment can be stopped by your bank on your instruction. After giving him the legal notice of cancellation you can withdraw the money from bank so the ECS may fail due to insufficient fund.
Can I get refund of lapsed LIC policy?
The lapsed policy can only be revived if it has not expired for a period of fewer than 6 months or more than 3 years from the date of revival. Under the special revival scheme, the policyholder has to give a written request for reviving the policy.
An insurance premium refund is when all or part of an insurance payment is returned to the individual who made the payment. This type of refund can be given for a number of different types of insurance, including car insurance, health insurance, life insurance, or private mortgage insurance.
What happens if I paid LIC policy twice by mistake?
Please make a request to LIC to refund as you have paid twice by mistake. As LIC Policies are payable on maturity or happening of the event usually no money is returned unless it is a money back policy during currency of the policy. The double payment may be treated as advance payment. You may get refund if you contact nearest LIC office.
Can I get a refund for a double payment on LIC policy?
The double payment may be treated as advance payment. You may get refund if you contact nearest LIC office. You will have to contact LIC branch where the policy issued. if online than contact with customer care.
In case of failure of adjustment of your LIC premium paid by online, you need to contact your Agent who had sold the policy to you or visit the particular branch. I have surrendered my LIC policy 2 days back with all the papers. How much time would it take to receive the money in my account?
Since for old registered policies renewal premium receipts are dispatched to the postal address as per your policy records,please ensure that your policy records are updated with your current address. In case you have not received the renewal premium receipt, you may collect the premium paid certificate from any LIC branch or Customer zones.