ensure that you get the best out of your policy, the following guidelines
will be very useful:
- Keep the policy bond safe. It will
be required at the time of maturity or Survival Benefit. You will
also require it if you are availing a loan or want to
assign your policy.
- Inform your spouse / Parents / Children
as to where the policy is kept.
- When you shift residence, please
inform the new address to the insurance office. Otherwise any communication
sent to you, like premium notices, discharge vouchers, etc., will
get delayed in reaching you.
- Ensure that the nominees name are
correctly incorporated in the policy bond.
- Remember to pay your premium in
time, even if notices do not reach you. There may be a postal delay.
The months in which premium are due are given in the policy bond.
- You may pay the premium by Cheque,
DD or Money Order. Remember to quote the policy number everytime
in your correspondence. The policy number is consisting of nine
digits and can be found
at the top left hand corner of the policy bond.
- Check your policy bond and see if
your date of birth is correctly given therein.
- In case you are handing over the
policy bond to any person or office, including the LIC office please
take a written acknowledgement.
- When your Survival Benefits (For
Money back policies) or maturity benefits are due, they will send
intimations to your three months in advance. If such intimations
have not come to your even within one month of the due date kindly
inform them so that they may take necessary action.
- When in doubt call your agent or
the Branch from where you took the policy.