Top News

The Life Insurance Corporation issued a clarification on reports of offers from certain organizations to acquire policies held by existing policyholders of LIC as an alternative to surrendering policies to LIC. A circular has been issued by LIC in this regard. In this, they wrote that "in the interest of all our policyholders, we would like to make it clear that:

LIC is not associated with any such entity, nor the products and/or services offered by such entities and any statements made by ex-employees/officers of LIC are personal to such persons. We disclaim any responsibility or liability in connection with them.

View Post –

 

 

Life Insurance Corporation issued a clarification over reports of offerings by certain entities to acquire policies held by existing policyholders of LIC as an alternative to surrendering policies to the LIC.@LICIndiaForever | #LIC pic.twitter.com/CT7uS9oCcY

— All India Radio News (@airnewsalerts) June 24, 2024

Any sale/transfer or assignment of LIC policies must be made by Section 38 of the Insurance Act, 1938. Under applicable law, LIC may refuse to act on any sale/transfer or assignment of policies, where LIC There is sufficient reason to believe that such sale/transfer or assignment is not bona fide or not in the interest of the policyholder or the public interest or to trade the insurance policy,” the PSU insurance company said in a press release.

LIC has asked its policyholders to consult their officials before responding to any offer.