Whether you are unattached or married, it is important to get an LIC policy coverage. Having one of these will ensure that in the event of your death or disability, the people you love will not have to worry about the financial obligations that you left behind or to settle. Getting an LIC policy for yourself is easy. All you need to do is apply for a policy that you feel will fit your needs and budget best and pay the monthly premium. To ensure that you never miss a premium payment and that your policy continues to be in force, you have to check your LIC policy status regularly.
Why is checking your LIC policy status important?
There are plenty of reasons why you need to regularly check your LIC policy status. Here are some of the most common reasons:
- To check your LIC Payment Status – your payments should reflect in your records on time. Any delays in your payment can result to penalties and sometimes the forfeiture of your policy. You policy can lapse if your payments are not posted on your account for a number of months.
Tracking the payment records can help ensure that all your premium payments are applied to your policy. If you see that there are payments missing, you can easily contest the missing payment and have your records adjusted accordingly. Click Here for: Detailed process on How to Check LIC Policy Payment Status online
- To make sure that you do not miss your LIC policy payment due date – paying your premiums is a responsibility that you should not take for granted. When you forget to pay your premiums, your policy could lapse and you will lose the protection that you bought.
Your policy will not lapse immediately when you miss your payment due date. There’s usually a grace period within which you can still make your payments. Checking your policy regularly allows you to keep tabs on your premium payment due dates so you can make your payments on time. Click Here for: Detailed process on How to Pay LIC Policy Premium Online
- To find out what benefits you are entitled to in your LIC policy – you should know what benefits you are going to get from your plan before you even apply for it or make your first payment. Once your policy is in force, you could accumulate bonuses and cash value that you can loan against. You can find out what benefits you are already eligible for when you check the status of your LIC policy.
- To track changes in your LIC Policy account – there are certain parts of you policy that can change over time. There are some policies that have increasing or decreasing coverage amounts towards maturity or termination date. There are also some details that you can change such as your beneficiaries and your marital status. When you ask for an LIC policy status, you will find out if these changes have already been applied and are in effect.
How to Check Your LIC Policy?
Now that you know why it is important to check your LIC policy regularly, it’s time to learn how to check it. There are two ways through which you can check your LIC policy. To go to the service provider directly and talk to an agent who can help check the policy status for you or to go online and check the status yourself. Both processes of checking your policy should be fairly easy.
•Checking Your LIC Policy via Your Service Provider(At nearest LIC center)
This process is the traditional way of checking your LIC policy. If you have time on your hands to do this, this is one of the best ways to know about the status of your policy. This method is ideal for people who have questions about their LIC policy that require talking to an actual person or agent in order to find out the answers. People who go to the service provider of the LIC policy often need to see someone in person because they feel their queries are complex and could not be answered by looking at the company website and FAQs.
Advantages of Checking your LIC Policy Status in Person
• The advantage of using this method is that you get to have answers for your queries immediately whereas if you get your policy information online and there are no live chats available. You normally have to send an email or post on the website and wait until someone from the customer service gets your email.
• Another advantage is that you can ask anything about your policy that you don’t understand. Sometimes you get a policy status that you do not understand. Rather than having to read through the fine print, you can simply ask the agent to explain to you what it means.
How to Check Your LIC Policy in Person at your nearest LIC Policy Center
1. To check your LIC policy, you only need to drop by your service provider’s office and seek the assistance of a representative. Some providers require you to make an appointment so make sure that you call first before stopping by. Making an appointment also ensures that the customer representative who will be talking to you will be able to pull out all your records so you they can check it beforehand and not scramble through their files just as you are arriving. This lessens your waiting time.
2. You should bring with you a valid ID and your LIC policy number when you visit for our appointment. Some providers require that you bring more than one ID to prove your identity so make sure to bring more than one. You can also ask the customer representative what other things you need to bring. If you are disputing late fees for example, you should bring with you your proof of payment and other supporting documents.
•Checking Your LIC Policy Status Online
– Checking you LIC policy online is one of the easiest and most convenient ways to know the status of your policy. With almost every provider offering this kind of service, there’s no excuse not to check your policy.
Advantage of Checking LIC Policy Status Online
• Convenience is the main reason for using this process of checking the status of your LIC policy. Online facilities can be used 24/7. You don’t need to make an appointment or go see an agent during office hours only. You can do this anytime you want. You can check your policy while you are on a business trip in a different country halfway across the world and you’d still be able to get a status report.
• Another reason to use this method of checking the LIC policy is that you can find out immediately what your policy status is. In the earlier method, you need to make an appointment or wait for a representative to tell you the status of your policy. The online method gives you the status as fast as your internet provider allows. If you need the status immediately to apply for some loan or something similar, you don’t have to queue or wait a few days to get it. It’s right there on your computer. You only need to print out the status and present this document where it is needed.
How to Check Your LIC Policy Status Online
1. To check your policy online, you will need to enroll your policy for the online service. To enroll your policy for online checking, you need to go to the service provider’s website and register with your account number, name, and contact details.
2. You will also be required to create an account so you will need a username and a strong password. Make sure to create strong passwords to ensure that your account is kept secure.
3. Once you have enrolled your account, you will receive a confirmation that your registration was successful. This can either be a page confirmation online followed by an email confirmation sent to your contact email.
4. Access your account by typing in your username and password on the log-in page. You should be redirected to your personal page where you can check all the different things you need to check about your LIC policy. If you are unfamiliar with the site, you can check the FAQs and the how to guide on how to navigate your account.
Click Here for: Detailed process on How to Check LIC Policy Status Online
•How to Check Your LIC Policy Status via Phone or SMS
1. You can also try checking your account via phone check facility if your service provider has this kind of service available.
2. Phone checking can either be automated phone check or via customer service.
3. The automatic phone check uses generated messages to give you the status of your policy while customer service will lead you directly to a representative whom you can converse with about your policy.
4. Another method of checking is via SMS. Some service providers offer this service for people who are unable to check via phone call or internet. You will still need to enroll your LIC policy for this service in most cases.
Click Here for: Detailed process on How to Check LIC Policy Status Via SMS
You need to be updated about the status of your LIC policy at all times so that you can maximize its benefits. Remember too that paying your premiums is necessary to keep your policy in force. Checking your LIC policy status will assure you that your payments are being applied to your policy accordingly. With the many different ways through which policy status checking can be done, there is no excuse for not having updated information about your LIC policy.