Life Insurance Corporation of India (LIC) has Rs 880.93 crore of unclaimed maturity amount. Minister of State for Finance Pankaj Chaudhary gave this information in the Lok Sabha on Monday. He said that during the financial year 2023–2024, 3,72,282 policy holders have failed to take maturity benefits. According to PTI, the government is trying to give information to the policy holders to claim these amounts.
If you also have an LIC policy and you have forgotten its maturity or a member of your family had taken an LIC policy and now he is no longer in this world or someone in your family has taken an LIC policy and its maturity has been completed and you want to check it, then here we will tell every method, by which you will not only be able to check whether there is a LIC policy or not, but can also claim it.
Which Documents will be Required?
If you want to check the unclaimed amount to see if your name is there, then you must have some documents. These include LIC policy number, policy holder’s name, date of birth and PAN card etc.
How to Check Unclaimed and Outstanding Amount
If any LIC policyholder or beneficiary wants to check if the money of LIC policy is unclaimed or outstanding in his name, then he can follow some steps given here.
- First of all go to LIC website- https://licindia.in/home.
- Now select Customer Service and ‘Unclaimed Accounts of Policy Holders’.
- After this, enter the policy number, name (mandatory), date of birth (mandatory) and PAN details.
- Now click on the Submit button and you can check the details.
How Can You Claim?
If you also have an unclaimed amount with LIC, then you can claim it through LIC agent or by visiting LIC office with necessary documents.
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What are the Rules Regarding Unclaimed Accounts?
If any amount remains unclaimed for more than 10 years, then the entire amount is transferred to the Senior Citizen Welfare Fund and as per the rules, such amount is used for the benefit of senior citizens. According to IRDAI’s circular on unclaimed amount, “unclaimed amount” will include any amount retained by insurers.
