Organization : Life Insurance Corporation
Service Name : Policies Under Salary Savings Scheme
Applicable For : Policy Holders
Country: India
Website : https://licindia.in/Customer-Services/Policy-Guidelines.aspx
LIC India Policies Under Salary Savings Scheme
If you have taken your policy under salary Saving Scheme please read the following suggestions
Related : Life Insurance Corporation Policy Guideline & Helpline : www.statusin.in/35906.html
Suggestions
** For each Salary Savings Scheme Policy your employer deducts the premium from your salary and sends a consolidated cheque for all the policies of the employees to a designated Branch of LIC, where all the policy files are maintained.
** You can find out which Branch of LIC your policy file will be serviced either from your Agent or from the pay roll department of your employer.
** You will need to know which branch of LIC services your policy because you will require their help in getting your Maturity/Survival Benefits, for any alterations like change of address and for availing loans etc.
** In case you are in a transferable job please inform the designated Branch of LIC about your new place of posting.
** After you join your new place of posting please ask your employer the LIC Branch where the premiums are being remitted by your office there and inform the LIC Branch which was servicing you earlier so that your policy files can be transferred.
** This way your records will be at correct place and will receive the services from us like maturity, in time.
** In case you are leaving your employer for a new job or joining another firm, you have the facility to either continue the policy under the Salary Savings Scheme of your new firm or to convert the payment mode into quarterly, half yearly or yearly mode.
** Always ensure the continuity of premium payments to avoid frequent revivals of policy. This may become a cumbersome process for a person who is in a transferable job.
** Please do not send any installments directly to us. Your premium must come through your employer only. We do not have systems to adjust single installments received from our policy holders. Otherwise please convert the mode into quarterly, halfyearly, or yearly and pay directly. This way you also get a discount on the premium payable.
** Leave a permanent local address with us so that we can reach you wherever you are even after many years.
Disclaimer
** The information contained herein is only to guide you and does not purport to be binding on either party. The contractual implications of your policy will be subject to the terms and conditions of your proposal and the policy document issued to you.
** They may be also subject to the rules and regulations of the corporation notified from time to time which may be subject to revision and change. The contract will also be subject to the prevailing laws of the country.
Helpline
To ensure that you get the best out of your policy please read our guidelines carefully.
Instruction
** Keep the policy bond safe. It will be required at the time of maturity or Survival Benefit. You will also require it if you are availing a loan or want to assign ypur policy.
** Inform your spouse/Parents/Children as to where the policy is kept.
** When you shift residences, please inform the new address to us. Otherwise any communication we send to you, like premium notices, discharge vouchers, etc., will get delayed in reaching you.
** Ensure that the nominees name is correctly incorporated in the policy bond.
** Remember to pay your premium in time, even if our notices do not reach you. There may be a postal delay. The months in which premium are due are given in the Policy bond.
** You may pay the premium by Cheque, DD or Money Order. Remember to quote the policy number everytime in your correspondence. The policy number is consisting of nine digits and can be found at the top left hand corner of the policy bond.
** Check your policy bond and see if your date of birth is correctly given therein.
** In case you are handing over the policy bond to any person or office, including the LIC office please take a written acknowledgement.
** When your Survival Benefits (For Money back policies) or maturity benefits are due, we send intimations to your three months in advance. If such intimations have not come to your even within one month of the due date kindly inform us so that we may take necessary action.
** When in doubt call your agent or the Branch from where you took the policy.
** Our Branches are our Operating Units. Hence, for any servicing matter, contact the Servicing Branch of your policy. However, for obtaining general information, you can contact any of the Branches of LIC.