How to Change Nominee in LIC policy online: registration, benefits, and nominee change at https://licindia.in/
Insurance Companies offer a sire of relief for many people globally, especially Indian residents who purchase LIC policies. The Company has various insurance services without discrimination and based on users’ ability. LIC policies allow users to invest for future security, property, health, life, education, and all aspects of life.
The public insurance Company provides both online and offline services based on user’s preferences. It allows policyholders and new customers to access the LIC website portal for various services. The Company also has different branches in the country and authorized agents. This offers choices for users to make their premium payments.
During registration, users need to enter personal information for better tracking. However, the LIC Company requests one to enter a nominee if the beneficiary dies or gets permanent disability. This helps allocate the money to rightful heirs and family members. Mostly a nominee is a family member, wife, husband, brother, mother, etc. It’s the person you trust and feel should receive the policy funds and execute your plans for your family.
Before selecting a nominee, ensure the person has the best will for you and your family. They should not be self-center or with ill thoughts. It’s challenging to settle for any particular nominee, but eventually, you need to nominate one. The LIC Company is flexible on policy matters. They allow beneficiaries or policyholders to change nominees anytime. There are various reasons why one can change; the process is easy using offline and online steps.
How to Register Online for LIC policy
- Go to the LIC India website portal link https://licindia.in/
- On the homepage, click the option online services >customer portal > “LIC’s e-services.”
- There are two options “new user” and registered user.”
- Select the “new user” tab enter the request details such as:
- LIC policies
- Policy number
- Date of birth
- Email ID
- Mobile number
- Recheck the details and click proceed button.
- Next, create a username and password, reconfirm the password to continue.
- The system will send a confirmation and welcome email to verify your registration.
- Now you can log in using the login credentials and access the LIC policy services.
Note during the registration process; the user must nominate a LIC nominee or beneficiary. You need to select the best person and provide their contact details: the relationship either mother, father, son and more. However, you can change the nominee information anytime and enter your preferred beneficiary.
How to Change Nominee in LIC Policy
LIC offers a variety of online services, from LIC premium payments, status checks, and more. The user can log in to all details besides the LIC nominee changing process. The process requires the policyholder to visit the LIC branch offices for help. A nominee is a significant person in a policy; making changes require more guidance from your policy officer.
- The change process is fast and free, especially for policyholders with a sum assured of Rs. 75,000. The Company changes the nominee free for the first time and changes a fee for the second time.
- The policyholder should use form 3750 to send a change notification to the Company.
- They need to be endorsed and attach proof documents of the policyholder and the new nominee.
- Provide the policy bond and form 3750.
- Next, you need to provide a LIC policy photocopy.
- The first cancellation or change is always free for policyholders with a sum assured of Rs. 75,000.
- The processing fee is Rs.50 (electronic forms) and Rs. 100.
- The LIC policy officer will verify the details and make the changes immediately after approval.
LIC Nominee Change form
- Can I nominate my children as policy beneficiaries?
LIC policy allows users to promote their siblings as nominees. However, the nominees will receive the benefits after they attain the adult age or get guidance from the insurance company on how to handle the benefits. Another adult can help manage until the children of age to handle the policy benefits.
- How many times can I change a nominee?
The LIC Company doesn't limit the user from promoting and changing nominees; however, a processing fee is required to complete the process.