How does LIC pays maturity amount?

POSTED BY Mr.Nilesh ON December 12, 2013 1:36 pm COMMENTS (4)

I want to ask which mode is used by LIC to pay the maturity amount when policies matures ?

1. Is the amount credited directly to registered bank account

OR

2. It hands over the account payee cheque in hand ?

 

4 replies on this article “How does LIC pays maturity amount?”

  1. ashalanshu says:
    December 14, 2013 at 8:06 am

    Dear Nilesh, please inform your LIC branch office for the same and ask to enroll new bank account for your future payments. As simple as that.

    Thanks

    Ashal

    Reply
  2. Mr.Nilesh says:
    December 13, 2013 at 12:31 pm

    The account number & cancelled cheque which i have given at the time of starting the policy,that account has been closed.then how can i get money?

    Reply
  3. rockingguy says:
    December 12, 2013 at 2:41 pm

    It’s credited direct to your bank account. You have to fill in form with bank IFSC code, account number, etc and enclose cancelled cheque / original policy

    Reply
  4. Sumit says:
    December 12, 2013 at 2:11 pm

    These days they directly credit to your account.

    Reply

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