Claiming Maturity Benefits from Your LIC Policy: A Comprehensive Guide

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Overview of Maturity Claims

Your LIC policy is maturing on 05/07/2020. If you are currently in Noida, or any other location in India, the process of claiming your maturity benefit is straightforward. Here's a step-by-step guide to help you through the process:

Step 1: Submit Your Claim Documents to Any LIC Branch

Starting from 05/07/2020, you can submit your maturity claim documents in any LIC Branch office across India. The receiving branch office will check your documents and, if everything is in order, they will upload them online. Your servicing branch will proceed with the maturity payment based on the scan copies of the uploaded documents. This process ensures that your account will be credited with the maturity amount on the due date of your policy.

Step 2: Download Necessary Forms

To facilitate your claim, you will need to download the NEFT form and the Maturity Claim form. These can be downloaded from the official LIC website or obtained from your nearest LIC branch. Additionally, you might need a cancel cheque for the payment process. Ensure you have all these forms ready before you proceed.

Step 3: Submit Your Documents to the Servicing Branch

Once you have your documents ready, you can either:

Send them via Speed Post: Fill out the Maturity Claim form, attach your policy bond and a photocopy of your identification, and send it to your servicing branch via registered post. Ensure you keep the acknowledgement slip for your records. Contact a Lic Agent: If you prefer, you can contact a licensed insurance agent near you. They can help you with the entire process, including completing the forms and sending the documents to the servicing branch for you.

Alternative Methods for Claiming Benefits

These days, you can also claim survival benefits and maturity benefits through email to the home branch. It's recommended to contact an agent for assistance with this process. If you prefer to visit the branch, ensure you have the following:

Your policy bond Your photo ID Proof of your bank account details (a photocopy of your passbook, if your account details are not linked to your policy)

In case your bank account details are not linked to your policy, bring a photocopy of your passbook to ensure the claim is settled and the money is directly transferred to your account.

Current Practices for Claiming Benefits

LIC is now settling all premium redemptions online. Simply scan and send the required documents to your respective branch. All claims under Rs. 5 lakh or less are settled online. For any other queries, feel free to send an email to pritisdhadge@.

In more straightforward cases, you can send your bank account details, identity proof, and present address to the branch where your policy is being serviced. They will send a discharge form, which you need to get duly stamped, signed, and witnessed. Send it back to the branch office along with your original policy bond via registered post. Keep the acknowledgment slip safely as evidence.

Your policy claim amount will be credited to your bank account once the claim has been processed.

Conclusion

By following these steps, you can easily claim your maturity benefits or survival benefits from your LIC policy. Ensure you have all the required documents and forms and manage your process with ease. If you face any issues or have any questions, feel free to reach out to a licensed agent or the nearest LIC branch.

Thank you for considering this guide, and I hope it helps you navigate the process of claiming your maturity benefits smoothly.