LIC Policy Bond Download 2023: The Life Insurance Corporation of India (LIC) serves millions of policyholders across India, making it the country’s largest insurance provider. Term plans, endowment plans, ULIPs, money-back plans, pension plans, and more are just some of the insurance options available from LIC. The policy bond is a vital piece of paper for any LIC policyholder. This article will explain why you need a LIC insurance bond and where you may get one for free online.
Policyholders who have signed up for e-Services from the Life Insurance Corporation of India can access their LIC Policy Bond 2023 or LIC Policy Document 2023 on the lic.gov.in website.
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“LIC Policy Bond Download 2023| LIC Duplicate Policy Bond Paper Download PDF
An explanation of the LIC Policy Bond and its features.
Information about your insurance policy, including the policy number, sum assured, premium amount, maturity date, and other terms and conditions, may be found in the LIC policy bond. Proof of insurance coverage is provided by the policy bond, which is a legally binding agreement between the policyholder and the insurance company.
What makes a LIC Policy Bond so crucial?
Every LIC policyholder needs to have a copy of their policy bond. Some of the explanations are as follows.
- The policy bond is evidence that you have acquired an insurance policy from LIC and are protected by the terms of that policy. The insurance policy bond guarantees payment of any valid claims made under the policy.
- Your insurance policy’s most crucial terms and conditions are spelt out in the policy bond. It tells you all you need to know about the policy, including the premium, the money insured, the duration of the policy, and everything else.
- The policy bond is evidence of the policyholder’s insurance coverage and can be used in the event of a claim, like a policyholder’s death or the policy’s expiration. To file a claim with the insurance company, the policy bond must first be shown.
- Useful When Applying for a Loan: You can get a loan against your LIC policy if you have one. When requesting a loan against an insurance policy, you must submit the policy bond.
The LIC Policy Bond: What Is It?
Proof of insurance coverage under a specific LIC policy is provided by the LIC Policy Bond. It is a legally binding agreement between the policyholder and the insurance provider that spells out the terms of the policy. The policy bond details the policy’s terms and conditions, including the policy number, sum assured, premium amount, maturity date, and premium payment schedule.
Every LIC policyholder has to have this document on hand at all times because it is used in the claims process and as proof of insurance. To make an educated choice about insurance coverage, the policyholder must have a thorough grasp of the policy terms and conditions, which are provided by the policy bond.
Why Download a LIC Policy Bond Online?
There are several reasons why LIC policyholders should download their policy bond online:
- Convenience: The online facility of downloading the LIC policy bond is a convenient way for policyholders to access their policy documents from anywhere, at any time. They no longer need to visit the LIC office to get a physical copy of the policy bond.
- Easy Access to Policy Information: By downloading the policy bond online, policyholders can access all the important details of their policy, including the premium amount, policy term, sum assured, and other terms and conditions. This helps them keep track of their policy details and make informed decisions about their insurance coverage.
- Quick and Hassle-Free: The online facility of downloading the policy bond is a quick and hassle-free process. It saves time and effort that would otherwise be required for visiting the LIC office to obtain a physical copy of the policy bond.
- Secure: The LIC website is a secure platform for downloading the policy bond. The policy bond is password-protected and can only be accessed by the policyholder. This ensures the confidentiality and security of the policyholder’s personal and policy-related information.
- Helps in Claim Settlement: In case of any claim settlement, the policy bond serves as evidence of the policyholder’s insurance coverage. By downloading the policy bond online, policyholders can access the document quickly and submit it to the insurance company to initiate the claim settlement process.
LIC Policy Bond Download Pdf 2023 Overview
|Document Name||LIC Policy 2023|
|Title||LIC Policy Download|
|Subject||LIC Policy Document|
Policy Document for LIC
We receive a bond from LIC when we purchase insurance. The policy number, our name, and the beneficiary we specify are all contained in this LIC Policy Document or Bond.
This paper needs to be kept safe because we could need it in the future. But what if we misplace it or it is harmed? Not to fear, LIC can provide a replacement that functions identically to the original.
We must inform our LIC agent or visit the LIC branch to obtain a fresh bond. Also required are receipts demonstrating our payment for our insurance. After creating and paying for a particular document known as an indemnity bond, we must have it notarized.
Additionally, we must provide them with proof of our identity (such as a passport or driver’s license) and our address (such as a utility bill or ration card). After paying a fee at the LIC branch, we will receive a new bond. If our previous bond was incomplete, we might also be required to provide evidence of it when we request a replacement.
What Takes Place If You Lose Your LIC Policy Bond Document?
There is always the tiniest potential of error, even though it is highly advised to store all of your LIC paperwork safely, most particularly the LIC policy bond (for the reasons described above). Any accidental, small error could lead to the loss of your insurance bond paper.
The good news in this situation is that LIC does offer its policyholders the chance to acquire a duplicate LIC policy bond in such circumstances. But the process isn’t that easy; you’d have to go through the same arduous application process that you did to get your LIC insurance bond.
While going through the entire process all over again, there is some solace in knowing that you can have a duplicate copy for usage and future references. To save yourself the trouble of having to go through the full process, it is also advised that you thoroughly search your home, business, or any other locations where you may have stored the LIC policy document. However, if your LIC bond is missing and you are still unable to find it, here are 5 simple actions you can follow to get a duplicate LIC policy bond created.
How to Download LIC Policy Bond Online?
LIC policyholders can easily download their policy bonds online. Here are the steps to download the LIC policy bond online:
Step 1: Visit the LIC website: www.licindia.in
Step 2: Click on the ‘Customer Services’ tab on the home page and select ‘Policy Status’ from the dropdown menu.
Step 3: Enter your policy number, premium payment term, and date of birth in the required fields. Click on the ‘Submit’ button.
Step 4: Once you submit the details, you will be redirected to a new page. On this page, you can see the details of your policy, including the policy number, sum assured, premium amount, and policy term.
Step 5: To download the policy bond, click on the ‘Download Policy Bond’ option.
Step 6: The policy bond will be downloaded in PDF format. You can save the file on your computer or mobile device.
Note: The policy bond is password-protected. The password for opening the policy bond is the combination of the first four letters of your name in capital letters and your date of birth in the format DD/MM/YYYY.
In case you face any issues while downloading the policy bond, you can contact LIC customer care for assistance.
The Indian government introduced Digilocker, an online cloud storage system. The platform gives users access to a safe online location where they can easily store and share documents. Several advantages are offered to Indian people as part of this program’s Digital India project.
Since the launch of Digilocker, LIC policyholders have had digital access to and download their policy bonds.
Digilocker’s advantages for LIC policyholders:
A digital platform called Digilocker gives people a safe and practical way to keep and retrieve their critical papers, such as driver’s licenses, diplomas, and insurance policies that have been issued by the government. Digilocker provides various advantages to LIC policyholders, including:
- Access to Policy Documents Anytime, Anywhere: As long as they have an internet connection, LIC policyholders can view their policy documents at any time, anywhere, thanks to Digilocker. This implies that policyholders do not need to carry physical copies of their insurance documents and can view them even when travelling.
- Safe and Secure Storage: Important documents, such as LIC policy paperwork, can be stored safely and securely with Digilocker. The site is supported by the Indian government, and all of the documents that are kept there are password-protected. This protects the documents of policyholders from theft, loss, and damage.
- Easy Sharing: Policyholders can easily share their insurance documents with others thanks to Digilocker. For instance, rather than giving a physical copy of the policy to a third party in need of evidence of insurance coverage, the policyholder can simply share the document online through their Digilocker account.
- Reduced Paperwork: LIC policyholders can do away with the necessity for physical documentation for their policies thanks to Digilocker. This lessens clutter and eliminates the need to retain physical copies of policy documents, saving time and effort.
- Faster Claims Processing: Policyholders of LIC can submit the policy documents online through their Digilocker accounts in the event of any claims. This shortens the turnaround time for claim settlement and speeds up claim processing.
Conditions for LIC Policy Bond Downloading from Digilocker
To download the LIC policy bond from Digilocker, policyholders need to fulfil the following requirements:
- Register for a Digilocker Account: To view their policy paperwork, policyholders must create a Digilocker account. Policyholders can register for a free account using their Aadhaar number, and the process is simple.
- Link Aadhaar Number to LIC Policy: The Aadhaar number of the policyholder must be connected to their LIC insurance. You can do this by going to the LIC branch office that is closest to you or online at the LIC website.
- Verify the Aadhaar Number: Policyholders must confirm the Aadhaar number after it has been connected to their LIC policy by going to the UIDAI website or using the mAadhaar app.
- Download the LIC Policy Bond: Policyholders can download their LIC policy bond by logging into their Digilocker account after completing the aforementioned steps. The policy bond will be accessible on the Digilocker account’s ‘Issued Documents section.
- Use OTP or Aadhaar-based eSign: Policyholders must enter a one-time password (OTP) or utilize Aadhaar-based eSign authentication to access the policy bond. The cellphone number associated with the Aadhaar number will receive the OTP.
What to do in 2023 to download LIC Policy Bond from Digilocker?
The process of downloading the LIC policy bond from Digilocker in 2023 is simple. Here are the steps to follow:
Step 1: Make a Digilocker account by registering. To view their policy paperwork, policyholders must create a Digilocker account. By going to the official Digilocker website at https://digilocker.gov.in/ and selecting the ‘Sign Up’ button, they can accomplish this. They must provide their name, mobile number, and other information throughout the registration procedure. After completing the registration process, policyholders will receive an OTP on the cellphone number provided, which they must enter to validate their account.
Step 2: Link the LIC Policy to the Aadhaar Number The next step is to connect the LIC policy and the Aadhaar number. Policyholders can do this by going to the LIC branch office that is closest to them or online at the LIC website. To finish the connection process, they must supply their Aadhaar number and policy information.
Step 3: Aadhaar Number Verification Policyholders must confirm the Aadhaar number after it has been linked to their LIC policy. You can do this by using the mAadhaar app or by going to the UIDAI website at https://uidai.gov.in/. To finish the verification procedure, they must supply their Aadhaar number and other necessary information.
Step 4: Activate your Digilocker account. Policyholders can log in to their Digilocker account using their registered mobile number and OTP when the Aadhaar number has been confirmed. They must select the ‘Issued Documents’ option after logging in.
Step 5: Obtain the LIC Policy Bond here. Policyholders can find their LIC policy bond under the ‘Issued Documents’ section. To download the document, they must click the ‘Download’ option. To access the policy bond, they can use OTP or Aadhaar-based eSign authentication. The policy bond can be downloaded and saved on a user’s computer or mobile device for later use.
How to Get a Duplicate Copy of a LIC Policy Bond in 5 Easy Steps?
If a policyholder misplaces or loses their LIC policy bond, they can easily obtain a replacement by following these five simple procedures.
First, report the loss of the policy bond to LIC.
Notifying LIC of the insurance bond’s disappearance is the initial step. The policyholder may do so by contacting the company directly, either by phone or online. Requests for replacement policy bonds must include full policy information and signatures from all insured parties.
Second, you can file a First Information Report (optional).
The policyholder can file a First Information Report (FIR) with the police if they have reason to believe their insurance bond has been stolen or lost. In these cases, LIC will insist that the FIR issue the replacement insurance bond.
Third, submit the completed application form.
The application form for a duplicate policy bond must be filled out by the policyholder once the request for a duplicate policy bond has been submitted to LIC. The LIC application form is available at all LIC branch offices and online.
Fourth: Make Your Payments
The bond’s duplicate issuance charge must be paid by the policyholder. Costs could change based on factors including the length of time the policy has been in effect and the type of coverage selected. You can pay the fees using any of the LIC-approved methods, whether online or in person.
Fifth, get the bond for the duplicate insurance policy.
After LIC receives the request and payment, it will issue the duplicate policy bond. A replacement policy bond can be picked up at any LIC location or mailed to the policyholder’s registered address.
Q: How long is the policy bond I got from Digilocker good for?
A: The digital copy of the insurance bond downloaded from Digilocker is just as valid as the physical copy. It can be used as proof that you have insurance and for anything else that needs the policy paperwork.
Q: If my policy is not linked to my Aadhaar, can I still download the insurance bond from Digilocker?
A: No, users can’t download the policy bond from Digilocker until they link their Aadhaar number to their LIC policy.
Q: If I don’t have a Digilocker account, can I still get the policy bond from Digilocker?
A: No, to download the insurance bond from Digilocker, policyholders need to sign up for a Digilocker account.
Q: Is downloading the policy bond from Digilocker a must?
A: No, policyholders can get a real copy of the bond by going to the nearest LIC branch office or downloading it from the LIC website.
Q: What should I do if Digilocker won’t let me download the policy bond?
A: If you can’t download the policy bond from Digilocker, you can call Digilocker’s customer service or go to the LIC branch office closest to you for help.
Q: If I lose the policy paperwork, can I get another copy of the policy bond?
A: Yes, policyholders can get a second copy of the insurance bond by sending a written request to LIC and paying the processing fees.