There can be many reasons for unclaimed amount, such as litigation, rival claims, p ...Read more

New Delhi. Insurance company, Life Insurance Corporation of India (LIC) had a total maturity amount of Rs 880.93 crore lying unclaimed in the financial year 2023-24. A total of 3,72,282 policyholders took insurance policies, paid their premiums but did not withdraw the money on maturity. If the policyholder does not receive any benefit from LIC for three years or more, then that amount is considered unclaimed. If the money remains unclaimed for more than 10 years, then the entire amount is transferred to the government's Senior Citizen Welfare Fund. If you also think that any of your LIC policies may be lying unclaimed, then you can find out about it online.

There can be many reasons behind the unclaimed amount, such as litigation, rival claims, policyholders not being in contact, residing abroad or delay in pension or annuity claims. LIC is constantly making efforts to reach out to its policyholders and settle the unclaimed amounts. For this, it is resorting to awareness campaigns and digital mediums.

Check policy status like this

• Go to LIC website https://licindia.in/home .
• On the homepage, click on Customer Service.
• Choose the option of Unclaimed Amounts of Policyholders.
• Enter the required details like policy number, name, date of birth and PAN card number.
• Submit the information.
• Complete information about the policy will come in front of you.

Claim like this

• Get Claim Form: Get the claim form from any LIC office or download it from the official website.
• Gather the required documents: such as policy documents, premium receipts, and, if applicable, death certificate.
• Submit the form: Submit the filled form and documents to the LIC office.
• Amount will be received after review: LIC will review your claim and if approved, the amount will be released to you without any claim.

Keep checking the status from time to time
If you have taken a LIC policy, then make sure that you keep checking the status of your policy from time to time. This will not only help you keep your hard-earned money safe, but will also help you use it when needed.