How to Download a Duplicate LIC Policy Bond Paper in 5 Easy Steps


8 min read

Updated on Feb 22, 2024

Learn How to Get a Duplicate LIC Policy Bond Paper in Just 5 Simple Steps.

Your LIC policy bond is undoubtedly your most important and valuable asset meant to be preserved safely. For, it details all the various terms and conditions of your LIC insurance policy that you purchased from the company. This means that you are going to need this document numerous times in the course of your lifetime (we will discuss below where and how your LIC bond paper is going to come into use).

However safely you may be keeping it for record purposes or future use, there is always a minute possibility of loss of any document. How to get a duplicate LIC policy bond in that case? This is what we will be discussing in this blog.

What is a LIC Bond Paper?

When you purchase an insurance policy from LIC, the latter would issue you a document that states all the terms and conditions of your insurance with the company. Of course, this document is only issued after LIC is convinced that all the required documents you submitted are in order and authentic.

The LIC policy bond details all the necessary information pertaining to your insurance plan as well as the benefits entitled to the policyholder under the plan by the insurer. Once the policyholder accepts the terms and conditions laid out in the plan, the cover for the policy is activated.

Also Read: How to surrender lic policy online

Why is Policy Bond a Vital Document? 

A policy bond is an important document that contains information on all the services and benefits that a policyholder is entitled to.  It also includes the terms and conditions of the policy.  LIC also refers to the policy bond in many instances as and when required.  Hence, it is important to keep the policy bond safe. 

Besides, if the policyholder is willing to avail of a loan against the policy, as well as at the time of raising and settling claims, the policy bond is an important requirement.  Preserving a soft copy of the policy bond and informing your spouse or a close family member of the location of storing the bond is also a good idea.  

Why is it Important to Keep Your LIC Policy Bond Safely?

We already discussed above all what your LIC bond paper entails. Considering that it is critical information for the policyholder, it becomes imperative to preserve the LIC bond safely. This is because any loss or damage to the policy document would have a direct impact on the financial coverage provided by the insurer.

You need to furnish your LIC policy bond in a number of instances. These include filing a claim, seeking loan against insurance, and more. In all these cases, your insurer would require you to submit the LIC policy document. Only after submission of the same would you be allowed to avail any of the benefits covered under the plan.

Also Read: LIC plan – 5 years double money

What Happens if Your LIC Policy Bond Document is Lost?

Though it is highly recommended to store all your LIC documents safely, most importantly, the LIC policy bond (for reasons stated above), there is always the slightest chance of error. Any simple mistake made unintentionally may result in the loss of your insurance bond paper.

However, the good part here is that LIC does provide its policyholders the opportunity to obtain a duplicate LIC policy bond in such cases. The procedure however isn’t that simple; the same tedious application process would follow like the one after which you had been issued the LIC policy bond.

This means going through the entire process all over again; however, the relief to look forward to is that you would be able to obtain a duplicate copy for future references and use. It is also recommended to thoroughly check your house, office, or any other areas where you may have kept the LIC policy document in order to avoid going through the entire effort. But if your LIC bond missing, you are still unable to locate it, here we list out 5 easy steps in which you can get your duplicate LIC policy bond issued.

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How to Get Duplicate Copy of LIC Policy Bond in 5 Easy Steps?

In order to initiate the process of ordering a duplicate LIC policy bond, there are 5 simple steps to follow:

#Step:1 – Place an ad in the newspaper

This is the very first step in the LIC policy bond lost affidavit format. You would be required to place an advertisement in an English/Hindi/regional language newspaper of the particular state where your LIC bond paper lost. Make sure that the newspaper you choose enjoys a wide audience base in that state. The ad needs to run in that newspaper for a month, after which you would be required to submit a copy of the newspaper ad to LIC. LIC will begin the process to issue a duplicate policy bond if it is convinced that no objections were raised during the full month that the ad was run. Once LIC initiates the process, you would be required to prepare an indemnity bond. You can also file for an indemnity bond online.

#Step:2 – Submit the indemnity bond

An indemnity bond is required for the application process of a duplicate LIC policy bond because the latter is a legal document issued by the insurer to the insured. Its loss would necessitate submission of an indemnity bond which can be prepared by requesting for Form 3756 from LIC. Once the company gives the form, you need to print it on a non-judicial stamp paper. Make sure to check with LIC the stamp paper’s value as it may be different in different states. After printing the form on the stamp paper, you’d need to duly fill out all the details required, such as the name of the policyholder, the number of the insurance policy, and such. This form would then need the signature of two witnesses before submission to LIC.

#Step:3 – Fill out a questionnaire for loss of LIC policy bond

The next step after submitting the indemnity bond is to fill out a questionnaire which LIC would provide you with, citing reasons for the loss of your policy bond. The questionnaire would contain the following type of questions:

  • What circumstances triggered loss of the policy?
  • What efforts were made by the policyholder to locate the lost policy?
  • Did the policyholder submit/assign the policy bond to any other organization for any purpose? Please specify.

These are just a few examples of the type of questions that LIC may ask the policyholder in the questionnaire. Once you are done answering all the questions, you would need to attach the last receipt from LIC regarding your insurance with the questionnaire and sign it. No witnesses are required for this form.

Make sure to submit both the indemnity bond and the questionnaire to LIC for the latter to initiate the proceedings for issuance of duplicate policy bond.

#Step:4 – Submit all the required documents to LIC

You would need to submit the indemnity bond and the filled out questionnaire along with the following documents to LIC:

  • A valid photo ID proof, such as PAN card, passport, Driving License, Voters’ ID card, etc.
  • A valid proof of address, such as electricity bill, last bank statement, ration card, etc.

Once you have submitted all the required documents along with the indemnity bond and the questionnaire to LIC, the latter would begin the process for issuing a duplicate copy of your policy bond. You would also need to pay some charges and fees towards issuance of duplicate policy, including charges for policy stamp and GST at the LIC branch office.

#Step:5 – Issuance of duplicate policy bond

LIC will now thoroughly go over all the submitted documents and start processing the application for duplicate policy. If the company finds everything in order and authentic, it would now issue a new (duplicate) policy bond to the policyholder in place of the original lost. The company would also seek your consent in the process before issuing you the duplicate one. If you are unable to go to the branch office to collect the policy, LIC would send it to your registered address.

Also Read: LIC surrender value calculator

How to apply for a duplicate policy bond from LIC 

LIC policy bond is the most significant document for a policyholder as it serves as the key evidence of the policy being issued. In case of an extreme situation where a policy bond gets misplaced due to any reason, the policyholder can seek a duplicate policy bond.  

The same can be done by following a process as per the steps mentioned below: 

  • The content of form 3756 is produced on an INR 100 non-judicial stamp paper
  • A notary authorizes the form which is then signed by the policyholder. The process also requires an additional questionnaire which the policyholder is required to fill
  • The questionnaire has certain questions regarding the misplaced policy bond and what steps are taken to recover the same as mandated by the LIC
  • LIC will also require ID and address proof of the policyholder 
  • The policyholder has to pay the charges of the stamp which varies from one LIC policy to another
  • After all the steps mentioned above are accomplished, LIC issues a duplicate policy bond

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Summing Up

Your LIC policy bond is your most important document which must always be kept safely. However, in case of loss/damage to the policy, LIC would be able to issue a duplicate one. With the procedure being tedious (as explained in this blog), it would be better to take good care of your policy document at all times.

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How to get duplicate LIC policy bond online?

No, LIC has no procedure to issue a duplicate policy online. You would physically need to visit the nearest LIC branch and request a duplicate policy bond.

How can I know my LIC bond number?

You can contact your LIC agent in order to seek details regarding the bond number. All you would need to tell the agent is your name and date of birth, as stated in LIC official records, and the agent would then be able to tell you your LIC bond number.

Is LIC bond mandatory?

The LIC policy bond is needed while raising a claim, seeking loan, or when the policyholder needs to assign the policy to another institution. 

What is the lic duplicate bond charges?

For duplicate LIC bonds, you must pay a fee of Rs. 75, as well as policy stamp charges of Rs. 0.20 per thousand Sum Assured. You must also pay 18% GST on duplicate policy charges. Only the fee and policy stamp charges must be deposited at the LIC branch cash counter.

Can we get LIC claim without a bond?

No, You cannot get a LIC claim without the LIC bond. You or your nominee must present the original or duplicate LIC policy bond during the claim settlement.

Can I still claim an LIC policy if I don’t have the policy bond?

You possibly cannot claim your LIC policy without your policy bond. A policy bond is mandatory to claim LIC.

I lost my original LIC policy document. What can I do now to get it back?

If you have lost your LIC policy document, you can apply for issuing a duplicate policy paper by writing an LIC bond missing application. For this, you have to submit a copy of the FIR lodged about the missing document to the insurer. Also, you need to submit a copy of a newspaper advertisement published in a popular newspaper and submit your indemnity bond to the insurer.

What happens if I lost my LIC bond paper?

If you have lost your LIC bond paper, you should take the following steps to address the situation:

1. Contact LIC: Immediately get in touch with your nearest LIC branch office or contact LIC's customer service helpline. Inform them about the loss of your bond paper and provide details such as the policy number, your name, and other relevant information.

2. File a FIR: In some cases, LIC may require you to file a First Information Report (FIR) with the police regarding the loss of the bond paper. This step is important for documenting the loss and preventing any potential misuse of the lost document.

3. Request Duplicate Bond Paper: After reporting the loss and completing any necessary documentation, request a duplicate bond paper from LIC. They will guide you through the process of obtaining a duplicate and may require you to fill out a specific form or provide certain documents.

4. Verification and Processing: LIC will verify the details of your policy and the loss of the bond paper before processing your request for a duplicate. This may involve some time for verification, so be patient during this process.

5. Pay Processing Fees: Depending on LIC's policies, you may need to pay a nominal fee for processing the request for a duplicate bond paper. Ensure you inquire about any applicable fees during your communication with LIC.

6. Receive Duplicate Bond Paper: Once the request is processed and verified, LIC will issue a duplicate bond paper to you. This document will serve as a replacement for the lost original bond paper.

7. Take Preventive Measures: After receiving the duplicate bond paper, take preventive measures to ensure its safety. Consider storing it in a secure location, such as a safe deposit box or a fireproof safe, to avoid any future loss or damage.

It's crucial to act promptly when you realize that you have lost your LIC bond paper to prevent any potential misuse or unauthorized access to your policy details. By following these steps and cooperating with LIC's procedures, you can obtain a duplicate bond paper and continue to enjoy the benefits of your LIC policy.

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Nov 23, 2022
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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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