Full Form Of LIC

What is the full form of LIC?

Life Insurance Corporation is the full name of the company.

The Life Insurance Company of India is an Indian statutory organization overseen by the Indian government’s Ministry of Finance. The Life Insurance of India Act merged over 245 insurance companies and provident societies to form the nationalized state-owned Life Insurance Corporation of India.

From the beginning, the Life Insurance Corporation of India, which had a monopoly on the solicitation and sale of life insurance in India, produced significant surpluses. The corporation had grown from 300 offices, 5.7 million policies, and a capital of 45.9 crores to 25,000 offices, 350 million policies, and a corpus of over 800,000 crores by the end of the twentieth century. Life Insurance Corporation accounted for roughly 7% of India’s GDP in 2006.

Furthermore, they play a critical role in raising LIC awareness in rural areas and among people from economically and socially disadvantaged families.

How do new users check the details of their Life Insurance Corporation policy online?

  • New users should fill out the registration form on the LIC’s website. (http://licindia.in)
  • For the initial registration procedure, specific information is necessary, such as the policy number, date of birth (D.O.B), email address, and premium amount.
  • After the process has been completed successfully, a verification email will be issued to the registered email account.
  • Anyone can readily view any policy-related information from their account using the verification link supplied in the email.

How to Check LIC Policy Details Online for Registered Users?

The ways to examine policy details online for registered customers are as follows:

  • After logging in successfully, select See Enrolled Policies.
  • The website will take you to another page where you can review all of the policies you’ve enrolled in.
  • The current status of the insurance, as well as any pertinent information, will be shown to you.

Who is eligible to use the LIC’s online services?

People in India with existing LIC policies can easily register for LICs online services without having to spend any money. Furthermore, LIC offers remarkable services that allow the insured person to register his or her spouse and children.

How does Life Insurance Corporation recognize the registered policy information?

  • At predetermined intervals, the bank/service provider sends these details to LIC for validation and confirmation of the registration data.
  • LIC validates the registration data and sends the registration status to the bank/service provider.
  • The confirmation of the registration data usually takes a week. As a result, the LIC database is completely decentralized.
  • LIC keeps track of all policies that have been registered. The database is updated on a regular basis after receiving updates from relevant operating branches.
  • LIC also sends enrolled policyholders auto-mailers informing them of their registration status.

Using an integrated voice response (IVR) system, how can you check the status of a policy?

In nearly every city in the country, LIC has made an interactive voice response system available 24 hours a day, seven days a week. The UAN-Universal Access Number “1251” can be used to contact the LIC’s customer care department. Lastly, people can also reach out to the LIC’s regional and zonal offices.

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