How to Change Nominee in LIC

Online Process, Documents Required and Things One Should Know

A nominee is the person who receives the benefit of a policy in case of the unfortunate death of the policyholder. In this post, we will read if we can change the nominee details in a LIC policy online.

The Process to Change nominee in LIC

If you are wondering how to change the nominee in LIC policy, it is an easy process, which can be done several times during a policy term.

Steps to change nominee details in your LIC policy:

1. You can file form 3750 to notify the     LIC of India

2. You have to endorse the nomination      process

Documents Required for Changing Nominee

Here are the documents needed to change nominee under a LIC policy:

1. You need form 3750

2. You must provide the proof of relationship      between the policyholder and the nominee

3. You also need policy contract (for     endorsement),

4. You need the photocopy of LIC policy

Is it Possible to Change the Nominee in LIC Policy Online?

The e-services of LIC allows the policyholder to go through the details of their LIC policy online. The LIC’s official portal can be used for this purpose to view the claim and policy status. Besides, the portal can also be used to pay premiums of the plan online. However, the online facility doesn’t allow the policyholder to change the nominee details in a LIC policy. So, at present LIC nominee change online option is not available.

Reasons to Change Nominee

Some Personal Reasons Could Be:

1. The ill-fated demise of your nominee

2. Family feud because of which you may      like to change the nominee details as you      no longer want to be associated with the      nominee anymore

3. You are not happy with your instant 

4. You want to nominate a special person to      replace the earlier nominee

Some Other Reasons Could Be:

1. Nominee’s name or the spelling is     incorrect and you would like to change it

2.  The relationship details of the      policyholder and the nominee has not      been mentioned correctly and you want      to correct it

3. Details of the nominee like date of      birth/month/year is incorrect and require      changes

Things to Consider While Changing Nominee Details in LIC Policy

Policy seekers of money-back plan are required to meet certain eligibility criteria as listed below:

1. Nominee’s name or the spelling is      incorrect and you would like to change it

2. The minimum and maximum entry age       varies depending on policy

3. Policyholder must make the premium      payment as guided by the policy term

Consider the Below Things While Changing Nominee Details

Before changing the nominee details, remember the following things:

– During the lifetime of the policyholder, the     nominee cannot make any changes or     modify the LIC policy or take charge of it

– In case of death of the nominee after the     demise of the policyholder but before     collecting the death benefit by the insurer,     the concerned amount would be paid to     nominee’s legal representatives

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