What happens if my LIC agent dies?
In case of agent’s death while his agency subsists, after agency was in force for two years or over, renewal commission will continue to be payable to his heirs or nominee provided there was a business of not less than Rs. 1 lakh in force at the time of death.
Can we remove agent from LIC policy?
Originally Answered: How can we transfer LIC Policies from One agent to ourself? You can never do that. Agent code is sealed and marked for whole policy life. IRDA norms don’t allow change of code even from an agent to the insurer.
Can I change the registered agent of my LIC policy?
There is no need and no provision to change your LIC agent, as there is no contract between you and an LIC agent. As far as a policyholder is concerned, the contract is with insurance company. The agent is just a facilitator. You have to contact concerned LIC office or nearby LIC office for specific details.
How is LIC death claim calculated?
Where, Sum Assured on Death is defined as higher of 125\% of Basic Sum Assured or 10 times of annualised premium. This death benefit shall not be less than 105\% of all the premiums paid as on date of death.
How claim LIC policy online after death?
Online Forms The requirement for the claim are as given below: Claim Form ‘A’ in Form No.3783. If policy has run for 3 years or more from date or risk, claim form no.3783A may be used. Certified extract from death register.
Can we complaint against LIC agent?
Call Toll Free Number 155255 (or) 1800 4254 732 or. Send an e-mail to complaints@irdai.gov.in.
What are the documents required for LIC death claim?
Documents that are required to be submitted along with above-mentioned forms include original death certificate, original policy bond, nominee’s PAN card, copy of either nominee’s Aadhaar card, voter ID, driving license or passport, and any ID proof of the deceased policyholder (preferably Aadhaar card).