Common questions

No. You pay LIC directly through its official channels, such as an LIC branch, the LIC customer portal, Pay Direct or auto-debit. Your premium never goes into my account.

Most policies give a grace period after the due date: 15 days for monthly premiums and 30 days for quarterly, half-yearly and yearly premiums. The policy stays in force during it. There is none for single-premium policies, and some plans differ, so check your policy document.

If the premium is not paid by the end of the grace period, the cover and the benefits stop. You may be able to revive the policy by paying the unpaid premiums with interest or a late fee, if LIC approves. How long you have to do this depends on your plan, so check your policy document or ask the branch.

You can surrender a policy, but that ends it, it involves a penalty, and LIC advises against it. Whether there is a surrender value, and how much, depends on your plan and the years of premium paid. The rules differ by plan, and LIC's policy document governs. Ask before you decide.

For a policy with a term of one year or more, you have 30 days from receiving the policy document to return it, whatever the reason. The refund is the premium less the proportionate risk premium for the cover period, the medical-exam cost and stamp duty.

Apply to the servicing LIC branch for a duplicate policy document. LIC charges for preparing it, plus stamp charges and taxes, and asks for an indemnity bond. The branch gives you the forms and the exact charges.

The nominee is the person who receives the money if the policyholder dies. You can change the nomination at any time during the policy term, at the servicing LIC branch. For a minor nominee, a person must be appointed to receive the money.

LIC's Benefit Illustration for your plan. It is the only official figure. The calculators on this site are for planning only.

After three years from the date a policy was issued, started or revived (whichever is latest), it cannot be challenged for wrong information in the proposal. That does not mean a claim can never be rejected, and LIC can still ask for proof of age. This is general information, not legal advice.

No. LIC alone assesses, decides and pays a claim. I can help you with the forms, explain the steps, check the papers with the branch and remind you of dates. I cannot approve, speed up or guarantee a claim, and I never receive claim money.

IRDAI's rule for LIC is 15 days from the claim being reported for a death claim that needs no investigation, and 45 days where one is needed. Maturity and survival benefits are due on the due date. This is the regulator's rule for LIC, not a promise from me or this site.

Start with the LIC branch or LIC's Grievance Redressal Officers. If you are still not satisfied, you can go to IRDAI's Bima Bharosa portal or the free Insurance Ombudsman. The complaints page on this site lists the contact details.

I use them to contact you about LIC products, as you agreed when you ticked the box. The privacy notice explains what is kept, for how long, and how to opt out.