December 31, 2011 3:48 pm
I have lost my LIC policy whose SA was >INR 50,000
What should i do ? What are the formalities for obtaining a Duplicate policy ?
According to LIC
A duplicate policy confers on its owner the same rights and privileges as the original policy. The following are the requirements for issuing a duplicate policy:
1. Insertion of an advertisement at the policyholder’s cost in one English daily newspaper having wide circulation in the State where the loss is reported to have occurred. A copy of the Newspaper in which the advertisement appeared should be sent to the servicing office one month after its appearance. If no objection has been lodged with LIC regarding the policy in question, a duplicate policy will be issued after complying further requirements, i.e., Indemnity Bond and payment of charges for preparing duplicate policy and stamp fee.
2. However, the requirement of advertisement and Indemnity Bond may be dispensed with or modified in certain circumstances as given below :
loss of policy by theft
destruction of policy by fire
loss of policy while in custody of an office of government
mutilated or damaged policy
policy in torn and a part of it is missing
policy partially destroyed by white ants
Dear Vinay, please visit either the original lic office from where the policy was issued or the nearest lic office. Inform about your loss of policy documents. Based upon your info –
Name, address, D.o. B., policy name, prem. AMOUNT, last prem. date, LIC officials can fetch you, your policy details. Once the policy details are there with you, you may start procedure to obtain a duplicate policy bond from LIC as instructed to you by LIC offficials.
Visit the nearest LIC Branch and talk to Development Officer..Share with him if you have any policy related documents.
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