Dear Policyholder, Please submit Bank Account Details ( NEFT ) to LIC

The payment under your policy/ies will be to be credited, directly to your Bank account through electronic mode of payment only. For this purpose, we require your bank details for making the policy payment through NEFT (National Electronic Fund Transfer). The details of NEFT are described below.

You are requested to submit the NEFT mandate along with necessary enclosures to settle the payment under your policy through NEFT. Kindly note, it is not possible for us to settle the policy payment in any other mode of payment like cheque.

1. What is a NEFT ?

It is a nationwide system that facilitates to transfer a fund from one account of any bank branch to another account of any bank branch. This system is operated by Reserve Bank of India. For transfer of funds the participating banks have to be NEFT enabled. At present around 74000 Banks all over India are participating under NEFT system. For details please refer to RBI website on http://www.rbi.org.in/scripts/neft.aspx

2. Advantages of NEFT system for LIC Policy holders / Annuitants :

•  The policy holder / claimant will get the credit in his own account on the due date of payment irrespective of the location of his bank.

•  NEFT will ensure speedier and secure mode of payment.

• There will be no extra charges to the policy holders / claimant.

•  SMS and E-mail alerts may also be provided wherever the policy payment is made to the policyholder/ claimants’ account through NEFT.

•  Each payment from LIC through NEFT will create one UTR(Unique Transaction Reference) number. If there is any problem in credit to the account, policy holders / claimant can confirm from their bank by quoting this UTR no. In other words it is easy to track a transaction of NEFT, using UTR number.

3. important information to the Policy holder / claimants opting for NEFT :

•  All the items mentioned in the enclosed mandate form should be filled correctly. This mandate can be used for 6 different policy numbers of the same policyholder..

•  The completed mandate for NEFT should be sent to our Branch, servicing at least one of the policies, listed in the mandate.

•  The policy holder / claimant should also submit either a cancelled blank cheque leaf or the photo copy of the page of the passbook / cheque book where details of the Bank account are mentioned.

•  If within two days of the due date, the amount is not credited to your Bank Account, then you may contact the branch where you have submitted the NEFT mandate.

•  The account of the policy holder / annuitant should be operational at the time of receipt of policy payment.

•  Before submitting the mandate form, the policyholder/ claimant should confirm from his bank that it is NEFT enabled.

•  Policy holder’s/ claimants’ name under the policy should match with that of Bank A/c, else it is likely to be rejected.

•  NRI accounts are guided by FEMA regulations; LIC has decided not to include NRI accounts for fund transfer. So policy holders / annuitants are requested not to submit their NRI account details.

•  After submission of NEFT details, if there is any change in bank details then fresh mandate form will have to be submitted.

• If you are getting the annuity payments through ECS mode from our IPP cells, you may opt for payment by NEFT by submitting the mandate or continue to receive the annuity payment in the existing ECS mode. 

Join LIC

LIC Premium Calculator

LIC Recruitment Result of AAO

RECRUITMENT OF ASSISTANT ADMINISTRATIVE OFFICERS (CHARTERED ACCOUNTANT)

List of successful candidates displayed at respective Divisional Offices  

On the basis of the online test and interview held for recruitment to the post of Assistant Administrative Officer (Chartered Accountant), candidates with the following roll numbers have been shortlisted for pre recruitment medical examination.

The candidates are advised to contact the Divisional Offices noted against their name on any working day from 07th September 2015 to 12th September 2015 for pre recruitment medical examination.


After the medical examination, if they are found medically fit for appointment, they will be advised to report to training centre mentioned in their letter, on 04th October 2015. The training will commence on 05th October 2015. Individual communication has been sent through email.

Result

Anti Fraud Policy

Anti Fraud Policy

Life Insurance Corporation of India is the largest life insurer in India and has been playing a significant role in spreading the life insurance amongst the masses and in mobilization of people’s money for people’s welfare.

Life Insurance Corporation of India aims to be an honest and ethical Organization, seeking to conduct its business to the highest level of integrity and objectivity. Life Insurance Corporation of India follows a Zero tolerance policy in relation to frauds and encourages its employees and intermediaries to act with high level of sincerity and to safeguard its interests along with the Policyholders.

In order to protect its financial systems, resources, assets, the integrity of its employees and intermediaries and above all Policyholder’s welfare, the Corporation has established an Anti Fraud policy as a part of Fraud Monitoring Framework for the Corporation in accordance to Para C of IRDA Circular ref: IRDA/SDD/MISC/CIR/009/01/2013 dated Jan 21, 2013.


OBJECTIVES

a) The primary objective of this policy is to minimize the risk of any fraud occurring within the Organization and to optimize the likelihood of its detection as soon as possible leading to full investigation.

b) To Protect Life Insurance Corporation of India from the financial and reputational risks posed by Insurance frauds.

c) To setup a framework to detect, monitor and mitigate the occurrence of Insurance frauds within Life Insurance Corporation of India.

d) To develop and promote an organizational culture which encourages the prevention of fraud by raising awareness of the need for high standard of personal conduct.

ROLE OF INDIVIDUAL EMPLOYEE

•  Identify the potential areas of fraud in the operations of their responsibility.

•  Maintain high level of personal integrity.

•  Ensure that public funds are safeguarded while dealing with cash, receipts, stocks or dealing with contractors or suppliers etc.

• Whenever any fraud is suspected or has occurred, immediately the same should be brought to the notice of their immediate superior officer for further necessary action.

ROLE OF VARIOUS INTERMEDIARIES

•  The Corporation expects all Agents, Corporate Agents, Financial Service Executive, Direct Sales Executive, Chief Life Insurance Advisors, Brokers, Micro Insurance Agents etc. to abide by and co-operate with the Corporation’s Anti Fraud Policy.

• All the intermediaries shall be responsible for compliance with applicable Insurance Laws.

•  They should be familiar with the types of improprieties that might occur in their areas of responsibility and should be alert for any indication of irregularities.

ROLE OF POLICYHOLDERS, BENEFICIARIES

Life Insurance Corporation of India urges its Policyholders, beneficiaries & all concerned to act in a lawful & proper manner and to report allegations or irregularities in respect of Life Insurance Fraud to the Corporation.

In case of any incident of fraud/possible attempt of fraud regarding Life Insurance Corporation of India, kindly contact our nearest LIC Branch Office to report or e-mail to co_fraud@licindia.com or address to

Life Insurance Corporation of India

Personnel Department,

Central Office,

5th Floor West Wing,

Yogakshema,

Mumbai 400021

Apply Online For The Golden Jubilee Scholarship

LIC Golden Jubilee Foundation was established on 20.10.2006, and registered with Charity Commissioner under Bombay Public Trust Act 1950 with the objective of promoting education, health, relief of poverty or distress and advancement of other objects of general public utility.

To achieve these objectives, the foundation works with human and capital resources received from LIC.

Projects range from scholarships, health initiatives, rural education programmes and providing infrastructural support in fields of education and health.

CATEGORY	NUMBER	Amount sanctioned in र
ADVANCEMENT OF EDUCATION	150	22,16,30,562
MEDICAL RELIEF	140	22,55,40,817
OBJECTS OF GENERAL PUBLIC UTILITY	35	5,68,60,755
Total	325	50,40,32,134

Click Here to Apply

LIC Celebrating LIC Day

For More Information