highlights
The amount which remains with the insurance company even after 10 years is called unclaimed amount.
Many policy holders forget to claim by investing in insurance plans.
Policy holders can easily know about the unclaimed amount by visiting LIC’s site.
New Delhi. RBI has announced to create a new centralized portal to identify the rightful owner of Rs 35,000 crore lying unclaimed in 12 public sector banks. At the same time, in the case of unclaimed amount, the government insurance company LIC is also not far behind. The Life Insurance Corporation of India itself had told that it has an amount of about 21,500 crores which has no claimant. When LIC had brought its IPO, then it had given this information.
LIC had an unclaimed fund of Rs 21,539 crore till September 2021. If you also want to know whether the amount of your own or any relative’s policy is unclaimed, then we are telling you the complete process to find out about it.
Read this too- No one is entitled to 35 thousand crores deposited in banks, money returned to RBI, have you forgotten to keep it somewhere?
What is unclaimed amount?
Before claiming for unclaimed amount, know what it is after all. Any amount which remains unclaimed with the insurance company even after a period of 10 years is called unclaimed amount. As per the rules of the Insurance Regulatory and Development Authority of India (IRDAI), insurance companies have to keep the information about the unclaimed amount of Rs 1,000 or more updated.
In fact, many people invest in various schemes of LIC, including banks, but due to some reasons, they stop in the middle or forget to withdraw money on maturity, then it is called unclaimed amount and remains safe with the company.
Process to find out LIC unclaimed amount
LIC has given a special tool on its portal to give information about the unclaimed amount of the policy holders. Here you can find out about the unclaimed amount by giving the necessary information including the policy number.
- First of all visit the site of LIC or directly through this link https://licindia.in/Bottom-Links/Unclaimed-Policy-Dues Go to
- As soon as you open this link, you will have to compulsorily give the policy number, name of the policy holder, date of birth and PAN card details.
- After giving this information, as soon as you click on the submit button, the information about the unclaimed amount related to the policy, if any, will appear in front of you.
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Tags: insurance policies, Life Insurance, RBI
FIRST PUBLISHED : April 09, 2023, 12:51 PM
