Not received LIC Maturity Amount. What To Do Now

By | January 15, 2022

Not received LIC Maturity Amount. What To Do Now

If you haven’t received the LIC maturity amount even after time completion You can check and claim the maturity amount LIC online? Check out the process to receive the claim amount within time

Not Credited the LIC Maturity Amount

In some cases, policyholders may not receive the maturity amount as LIC is a large scale company holding the data of hundreds of policyholders To meet the maturity period just before two months customers are given an advance maturity claim intimation letter

To verify the customer documents and receive the maturity amount intimation letter is referred to as an official confirmation letter by the customer. The amount being paid to the LIC policyholder will be stopped on the maturity day and the total gross amount is calculated. Through NEFT this amount will be credited to the customer provided bank account

The maturity claim amount will be credited automatically to LIC Policyholders account if all the documents are submitted and verified previously to LIC Office Customer should manually submit the document in case of any improper document or any justification needed

The date of completion of LIC policy is referred to as the maturity date Now customers can access and calculate the amount being accumulated in the gross period. By signing a new policy provided LIC customers can increase the maturity period

Reasons For Maturity Amount Credit Delay

LIC will not disburse the maturity amount in case of submission of the wrong account number or incomplete documents. LIC properly verifies the policyholder details as maturity amount is a large amount If a policyholder wants to receive the maturity amount he should definitely keep all the points in mind

Same name and personal details should be given on documents submitted at beginning of LIC policy and the documents being submitted at maturity period. The transaction would be put o hold if the account number provided will not belong to the policyholder

In the presence of the Head manager of the service branch, all documents should be properly signed and miss-match documents should be cleared by getting a form provided by LIC India you should ask your bank to accept the amount

Maturity Claim Discharge Documents Required

LIC serving department should be provided with valid proofs to confirm your maturity and credit the maturity amount

  • LIC Policy Original documents
  • Identity proof
  • Age proof
  • NEFT Mandate Form
  • Canceled Cheque

The policyholder must rush to the nearest serving branch in case the details are provided and the maturity amount is not received. To claim your maturity amount you can visit the LIC serving branch if you have confirmation that the maturity period is completed. Under the tax benefits, the amount will be released to the policyholder’s account and the customer need not worry about a huge amount laid in his bank account

What will be the process if the LIC amount is not received in time?

If you have submitted the final document to the serving branch The documents are extremely important to release maturity claim Approach the concerned authorities if you have completed all the requirements already

Can I submit my dependant bank account to receive my maturity amount?

No, Only the policyholder having his own bank account attached can claim the amount

I have submitted all required documents but the amount is not been released. Why?

In the database of LIC check if your bank account number and IFSC codes are entered properly or you will have to approach concerned authorities

Is it possible to check the status of LIC maturity if not received?

The final maturity amount claim status is not available to be checked online You will have to approach the concerned LIC service branch in that case

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