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4 min read
Updated on Jan 23, 2023
The maturity amount of a LIC policy is basically the final amount that a policyholder receives upon maturity of the policy. It can also be the amount or the death benefit that the beneficiary or the nominee receives upon the sudden demise of the policyholder. To calculate the maturity amount, you have to add the sum assured. This is something agreed upon by the company and the customer while buying a plan. This also includes any kind of profit that was received during the tenure of the plan and the additional bonuses that are mentioned by the company.
If you have been wondering about how to check your LIC maturity amount, then you need to know that there are quite many ways to do it. Here are some of them mentioned below:
For your LIC maturity amount check online, here are the steps that you need to follow:
If you are already a registered member, you have to follow the steps mentioned below:
Another option for you to check your LIC maturity amount is through SMS. And as you do it, there is absolutely no need of remembering the credentials each time you have to check your LIC maturity amount. To do this, you have to type ‘ASKLIC’ which has to be followed by your policy number, and send it to 56767877.
If you neither want to check the maturity amount online nor through SMS, you can do it through Customer Care. A dedicated team of LIC employees is always available on call to provide you with information regarding your LIC maturity amount. If you are a BSNL or MTNL user, you can make a call at 1251 from your mobile number. If your mobile number is from some other telecommunication company, you can get in touch with the Integrated Voice Response System (IVRS) and then follow it up with 1251.
No matter whether it is your maturity amount or any other LIC plan, you need to check it once in a while. Along with knowing the current status of the plan, you would also be able to know the recent updates that have come up.
You are likely to receive maturity claim intimations two months before your policy is matured from the nearest LIC branch. In case the policyholder passes away within the policy term, the nominee has to submit a discharged receipt in form number 3825. Along with it, policy documents also have to be submitted a month before the due date of the policy, so that there is no hindrance in getting the entire maturity amount. The documents that have to be submitted are identity proof of the policyholders, age proof, a canceled cheque, a copy of the bank passbook, an NEFT mandate form, and in cases of the death of the policyholder, the death certificate.
Conclusion
To avoid any problem or issue in the later stage, it is always a great idea to go through the policy while buying it. The maturity amount can be helpful for the family even if the policyholder is not there anymore.
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You can check your LIC maturity amount by visiting the nearest LIC branch, through SMS, or by contacting the Customer Care service. You can even check it online by login into the website of LIC.
The maturity amount is mostly credited within 15 days. In case, it does not happen, you can get interest from LIC.
Yes, you can claim the LIC maturity amount online by logging in to the portal.
A verification process will be conducted by the corporation. Once everything is alright, the maturity amount is credited to the bank account of the policyholder.
PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
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