LIC Registration - LIC New Registration Process - 2021
Life Insurance Corporation of India (LIC of India) founded in 1956 has been continuously branding itself as the most trusted service brand of India. LIC of India works with the agenda of carrying what the customers lack and preserving what the customers already possess. LIC of India is the largest insurance company in the country. It has branched itself into every corner of the country to serve all the people of the country.
LIC of India has certainly become a known name of every household, and that is because it strives continuously to introduce new plans and policies with varied features into the market. Nowadays, the market is flooded with insurance policy firms as every individual wants to have a protected present, and nobody can predict what misfortune is waiting for him around the corner. Every person wants to be prepared and win against all the damages that can occur in his life.
Buying insurance offers strength to the individual and the family member to stand firm against every unfortunate thing. Critical situations come with mental as well as financial stress. Financial stress can lead to enormous instability in the lives of the people as every task in today's world needs fuel called money.
Critical illness, pre-existing diseases, car or house mishap, child education, the sudden demise of a family member are some of the life-shaking events that can turn the life of an individual upside down. Rising above all these events can be a tough task if there is no financial stability. LIC is one such power that could help a person to come out of that remorse situation.
During life, LIC offers protection to the insured individual by taking care of the financial needs. If the individual dies, then a few plans are specifically designed to take care of the family members of the policyholder by replacing the death benefit into the source of income.
LIC offers various benefits to the policyholder. Savings of the lump sum amount can be done easily in this way. Tax benefits are offered under section 80C and 10(10D). Affordable premiums are offered by many plans. Even after some unfortunate events, LIC helps in living the same quality of the life a person used to live before the event.
LIC of India has left no stones unturned to reach out to every community. They have shifted their whole setup to the online mode where busy people can pay their premiums, claim the benefits, or renew the process in a few minutes. Customer support provided by LIC is undoubtedly one of the best services offered by LIC. It is a safer platform where an individual can deposit his money and wait patiently to enjoy its benefits in his old age.
LIC insurances help a person decently build their life even after something strikes an individual. LIC is relied largely upon because of the benefits that come along with the plan. The policies of the LIC are not demanding in terms of premiums. Most of the plans are designed by keeping in mind the diversity in the economic condition of every individual. The growth rate of LIC is increasing every year, which means more and more people are calculating and measuring their future and confiding themselves in the insurance benefits. There is no doubt that insurance has proven to be that friend that comes in support of an individual whenever he is sinking.
LIC has been available in both online and offline mode. Offline is a traditional way of communicating with an insurance agent and then buying the policy, and the documents will be received by the policyholder. On the other hand, the online mode is where an individual wears his detective hat and surfs through the plans and selects the best-suited plan and pays the premium. Both are very convenient.
LIC has introduced a very simplified and easy process to encourage people more to opt for the online registration process. All policyholders of Life Insurance Corporation of India can register for the company's e-services, online services for free of cost.
A person does not have to go down to the insurance agent on a daily basis to understand the status of their respective policy. Moreover, knowledge of the policy could be better gained in the policy buyers' own time without any pressure from a third person. Insurance agents often try to set up a plan which is more favourable to the agent rather than thinking about the policy buyer.
However, an individual who has bought a policy in their name or in the name of their minor children can avail of the e-services. After the child has completed 18 years of age, a unique user ID will be created if they want to continue the services. Married couples are not allowed to register under a single account; they must register themselves separately.
Registering online helps a person to understand the process from start to finish, and it has been religiously guided by a set of instructions on the website. Every payment date, renewal date, all the information is mapped out and it is presented systematically to the policyholder.
LIC new registration process also offers the advantage of adding one more policy to the online portal. Most of the people still get caught in the dilemma about the safety standards of the online transactions, but LIC has made sure that no such risky business or fraudulent transaction takes place on e-portals and that has been backed up by many awards received by LIC which proves that they are the most trusted insurance company.
The capabilities offered by the LIC online registration on the e-portal are as follows:
A person, after buying the policy, must continuously keep an eye on the status of the policy. The features of LIC online services are:
Apart from the aforementioned salient features of LIC Online Registration, there is a wide array of core benefits. Some of the key benefits of LIC online registration are listed below:
For registering on the online portal, an individual need not have extreme skills of the computer, basic knowledge of computer and internet works fine. As the steps are very easy and simplified, any person having a LIC policy can register on the e-portal by following a few quick steps.
Step 1: First and important is to visit LIC's official website. Once an individual is on the website, he must click LIC's e-services.
Step 2: Click on customer portal under online services, which is on the left-hand side of the page.
Step 3: The user will be redirected to the LIC e-service page. There, an individual will find functionalities offered in which registration for e-services is present.
Step 4: New user registration can be done by clicking the new user tab, in which a new user can register conveniently.
Step 5: Then, a set of information is to be filled by the new user-information like policy number, date of birth, premium amount, email ID, mobile number.
Step 6: After filling all the required information, the user can click on proceed to confirm all the details provided.
Step 7: Now to complete the online registration process, an individual must create a username and password of his own choice.
Step 8: Now an individual can start adding policies which are under basic services.
Step 9: The user can avail premier e-services by clicking on the registration form.
Step 10: Filling all the relevant details is a must. Later, the form is to be printed, signed by the user and scans it along with PAN card and passport.
Step 11: As soon as the LIC firm verifies the documents, a confirmation SMS or email will be sent to the user about the access availability.
Step 12: Once the policyholder receives the confirmation email or SMS, then he can start accessing the status of his policies or any other related information on the e-portal.
These are the few basic steps that need to be done by the user, which are easy, and an individual gets registered to the portal in a hassle-free manner. This process can be completed in a few minutes.
Step 1: An already registered user can use his user ID and password to login on the online portal and avail all the basic services.
Step 2: All the policies can be added to the account under the same login.
Step 3: A request form can be filled out to access all the e-services available on the portal.
Step 4: Fill the request form, print it out, sign and then provide a scanned copy of the form along with the scanned image of passport and PAN card.
Step 5: The LIC office verifies the documents provided and a confirmation email or SMS is sent to the user.
Step 6: Once the confirmation is received the registered user and access all the e-services.
If a person is a LIC agent and wants to shift his business entirely in an online mode then s/he can set up his/her business and services on the online portal. He can do that by registering himself on the e-portal. A person must clear certain tests to become an insurance agent. An individual who is 18 years of age and has completed his 10th grade can appear for these tests.
The tests are conducted by the Insurance Regulatory and Development Authority of India. The individual needs to pass these tests in order to become an insurance agent. LIC offers the benefits of training for these tests for the interested individual.
Once the person clears the test, he will be provided with an insurance code so that he can practice as an insurance agent. Documents like identity proof and address proof must be provided to get the insurance code. That code can help that person to register on the e-portal as an insurance agent.
Step 1: An individual has to login to LIC's official website.
Step 2: There is a tab of online services on the left-hand side of the page. Click on agent's helpline module tab under online services.
Step 3: An individual must click on new user registration.
Step 4: The user must fill all the necessary details. Details like agent code, branch code, email ID, mobile number.
Step 5: User can set a password of his choice.
Step 6: Click on Generate OTP. This process is for verification.
Step 7: A one-time password will be sent to the registered email ID or password of the user.
Step 8: Enter the OTP in the given space and submit the OTP.
Step 9: Then the registration of the agent on the e-portal is done successfully.
Once an individual is done with the online registration process, he can avail of all the online e-services in no time. Login to the website with the help of the username and the password set at the start of the process. An online form is to be filled by the user to avail of all the e-services on the online portal. Later, this form is to be printed out and signed.
The signed copy needs to be scanned along with the passport and PAN card. After uploading all the scanned images, the entire process is completed. After completing the process, the LIC office verifies all the documents and sends an email or SMS to notify the user about the confirmation. After the confirmation SMS or email, the user can get the benefit of the e-services and will be able to access all the online services.
The most crucial segment of buying a LIC policy from any insurance firm is claiming that policy. LIC has a claim settlement ratio high when compared to most of the insurance firms. People fixate themselves with the understanding that an insurance agent can quickly verify the documents, and a claim will be issued. But online portals also work very efficiently in case of a claim.
The process instantly and accelerate the claim process for the people who are already stressed out if any case of death claims. If any sudden accident takes place, then an individual cannot run hither thither for his claim process; only if he is registered on an online portal, he can quickly apply for a claim which is quick, easy, and stress-free.
Claim settlement can be in the form of maturity benefits or death claim.
The endowment type of insurance policy offers maturity benefits. The LIC is to pay the amount to the insured individual at the end of the policy period or regular intervals after the policy has been matured as per the intervals accepted while buying the policy. A claim under the maturity of the policy will be informed to the policyholder before the due date. Certain documents are supposed to be submitted by the policyholder.
It is the most stressful phase for the nominee to file a death claim for the insured individual. After submitting a few sets of documents, the lump sum amount will be provided to the family members of the insured individual along with tax benefits. There are different types of life insurance deaths like accidental death, early death, which is the death of the policyholder within 3 years of commencement of the policy, non-early deaths, natural death, etc.
A thorough investigation is done by the insurance office, and later with the help of the documents, the lump sum amount is paid to the family depending on the circumstances of the death and the policy that was bought by the policyholder.
To claim the maturity or death benefit, the registered user has to log in on the official website of LIC. The claim status option on the website will give the user all the details about the claim that could be done under the policy bought, and all the previous claim information will also be available on the website. The claim can be applied, and then a set of documents will be asked to submit on the website.
In case of death benefits, the following documents will be asked to submit on the website:
Then the user can constantly keep on checking the status of the claim on the LIC online service portal. In case of death, there are several complications after the death of an individual, a nominee at such conditions can instantly apply for the claim and check the status of the claim in his own time. The online registration process helps people tackle the usage of time required to go to the insurance firm and helps in getting the claim process done as quickly as possible.
LIC loans applied online against the life insurance policy of LIC India tend to get approved immediately. Recently, LIC has offered to provide loan for the people who have a LIC insurance policy. People who have registered for the e-services on the LIC online portal are eligible to apply for the loan on the portal. Applying for the loan can be done as follows:
Step 1: A registered user has to login to the website with the help of the username and the password. An individual needs to login in LIC customer portal which is visible under online loan request.
Step 2: The user will be directed towards the login page where the user must provide the necessary information like email ID, mobile number, date of birth and password.
Step 3: After the user successfully logs in to the online portal, the screen will be displaying the home page of the portal. Options will be provided to the user on the screen where on the left side of the page there is a menu option.
Step 4: Click on the premier services which will give a series of options emerging from the tab of premier services.
Step 5: In those options, there is an online loan request. After clicking the tab of the online loan request, a set of instructions and conditions are visible which helps the user in applying for the loan online.
Step 6: The user must select ‘I agree’ checkbox after reading all the terms and conditions.
Step 7: Then after agreeing, the user must click on the ‘Proceed’ button, which will lead the user to another page and then for verification, an OTP will be sent to the registered mobile number.
Step 8: Submit the received OTP on the website.
Step 9: Click on the submit button. After the validation process, the user gets directed to the page where all the policies under his name are visible.
Step 10: User must select the policy against which he desires to apply for the loan.
Step 11: After selecting the policy, the loan amount is displayed on the screen which can be provided to the user from LIC against the desired policy.
Step 12: If any loan is taken prior to the current application of the loan, then all the details related to the past loan is visible on the screen.
Step 13: Submit confirmation.
Step 14: After clicking submit, the user will be directed towards the sanction page. This page will have all the details of the user like the amount of loan opted by the user, bank account details that are already submitted to the LIC, name, and address of the LIC office branch.
Step 15: User can edit the details that are already submitted on the website or else he can proceed with the process by clicking yes if he is okay with all the details.
Step 16: A service number will be generated after the confirmation.
Step 17: The user, after the whole process, should note the service number and take a print of the filled online loan form, sign on it and submit it to the nearest LIC branch. If failed to do within 4 days, then the application will be cancelled, and the process must be done by the user once again.
The benefit of applying for loans online after registration on the online portal is that the user can self-check the loan eligibility without any interference from any LIC agent.
There are many payments that can be done on the e-portal instantly without having to go to the insurance firm or without any help of the insurance agent. The payments can be done instantly and in a safe manner. The premium payments for all the plans can be done a month prior to the due date of the policy. Payments that can be done on the online portal are:
The payment modes that are available on the e-services website are:
LIC new registration process is making its way in the Indian market due to its instant and quick ways. LIC registration on the online portal has paved its way due to different reasons.
LIC of India has devised this new online registration process for the well-being of its customers. Online processes are safe and secure, quick, and instant and can be done from anywhere in the country without any stress. In today’s generation where people do not have an ample amount of time to do their daily chores tend to omit the fact that insuring their life is equally important as living their lives.
Living life to their fullest is possible only when they know that there is some protection for the stability that they will lose if something unfortunate happens. LIC has shifted its whole set up in online mode so that every person should experience the benefit of the insurance policies. LIC new registration process certainly is the attempt to help more and more people to have a protected and safe life.
Ans. Visit the LIC official website, click on the forms option. Click on the NEFT form and download it. Fill the form with all the required details, sign it and submit it to the nearest branch along with a bank statement.
Ans. Dial 022 6827 6827 for all policy-related queries.
Ans. HDFC Bank, ICICI Bank, Bank of Punjab, UTI Bank, Federal bank, corporation bank, Citibank are some of the authorised banks.
Ans. No, that is not a possible option. A cancelled bank cheque or bank statement can be provided
Ans. The user must log in to the portal with the help of the username and password. Select the year for which the statement is required and when it is available click on save and print the statement
Ans. There are chances that the policy is in lapsed condition. To resolve this, the policyholder must visit the nearest LIC branch.