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:

    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

  2. Mr.Nilesh says:

    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?

  3. rockingguy says:

    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

  4. Sumit says:

    These days they directly credit to your account.

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