Top News

Unclaimed Money in LIC LIC also has crores of rupees lying as unclaimed amount. When the amount is not claimed for a long time, then that amount is considered as unclaimed amount. However, LIC told how we can claim this amount and how we can check by visiting the official website whether we have any unclaimed amount or not.
 

Highlights

1. You can check the unclaimed amount by visiting LIC's website.
2. To claim the unclaimed amount, you will have to go to the LIC office.

Business Desk, New Delhi. Just like crores of rupees are lying unclaimed in the bank for a long time, similarly crores of rupees of many schemes of Life Insurance Corporation ( LIC ) are also lying unclaimed. In such a situation, the question arises that why crores of rupees are lying unclaimed in LIC. The answer to this is that many schemes of LIC are long term. For these schemes, the customer has to pay monthly, quarterly, half-yearly and yearly premium.

Many times customers do not surrender the policy due to some problem or high premium. In such a situation, their money remains with LIC . Due to no claim on that money for a long time, it is declared as unclaimed amount. Apart from this, if the policy holder dies and the nominee does not claim it for a long time, then also that amount is considered as unclaimed amount.

LIC said that it has crores of rupees as unclaimed amount. No one is claiming this amount. If you also had LIC schemes in which money is pending, then today we will tell you how you can check the unclaimed amount online. Apart from this, what is the process to claim this amount?

LIC provides this facility to its policyholders that they can easily check death claim, maturity claim, premium refund or unclaimed amount online.

How to check unclaimed amount

• Visit the official website of LIC.
• Now select the option of Unclaimed Amounts of Policyholders.
• After this, provide information like policy number, name of the policyholder, date of birth, PAN card etc.
• After providing all the details, click on submit and the unclaimed amount will be displayed on the screen.

How to make a claim

To claim the unclaimed amount, you will have to contact the LIC office. Here you will have to apply and then submit the necessary documents for KYC. After submitting the documents, the process of payment of the outstanding amount will start from LIC.

IRDAI directive

IRDAI has clearly said that insurance companies will have to provide information about unclaimed amount and unclaimed account on their portal. Information about claims of amount more than Rs 100 should also be available on the portal.