How To Change The Address in LIC Policy?
Life Insurance Corporation of India is a state-owned life insurance company with its headquarter in Mumbai. It is the biggest life insurance company with an asset value of Rs.1,560,482 crore (US$230 billion). The Life Insurance Corporation of India was founded in 1956.
At that time the Parliament of India passed the Life Insurance of India Act that nationalized the private insurance industry in India. Around 245 insurance companies and provident societies were merged to create the state-owned Life Insurance Corporation. LIC offers a wide range of effective life insurance products and people are investing in the same on a big scale. Sometimes handling LIC’s policies and associated things looks complicated for a common man as there are many things involved in the same and one of such issues is about the change of address in LIC policies.
The normal question that people ask is how to change the address in LIC Policies? Many of you might own LIC policies. While purchasing the policy you might have provided the address which is now changed. To have proper and smooth communication between you and your LIC branch, it is always good to update your contact details on time that includes your address, your phone number and email with your policies. While updating new details you should make sure that you are not missing any important part. Moreover, if you don’t want to get miss by LIC related to any important update then it is advisable to update your data on time.
Important: LIC Customer Care Number
In this article, you would get to know the process of how to change the address in LIC policies.
Change the Address in LIC Policies
On searching the same on Google with the keyword ‘change the address in LIC policies’, you will get to know about various websites that claim to assist you in knowing about the concept of changing ONLINE. However, the fact is different, as of now the only process through which the address can get change is the offline mode.
Change The Address in LIC Policies – Online Process
As we discussed above as well, many websites claim to assist you in changing the address online, only if you log in. However, this is completely false. Refer to the below image for the same.
Although the option for editing addresses is present under the profile tab, you should refer to the notice as well. ‘The address added and displayed here are for information purposes. This address is not used for communication purposes. Please contact your servicing branch in case you want to change or update your address in policy records.’
Hence, there is no way of changing the address online using LIC’s online facility. The only option that you have to use is the offline mode.
Change The Address in LIC Policies – Offline Process
The entire process of changing the address in LIC policies using the offline process is a tedious task for many. As for the same, you have to visit the branch only. The steps are as below.
Visit your closest branch or servicing branch.
Write a letter to the LIC of India that should include your policy number to which you want to change the address. Also, you have to mention the reason for the change.
You have to submit the letter along with valid address proof and you should also attach a photocopy of the policy.
After that, firstly, they will verify the address proof and accept your letter.
Just wait for the updates. If they are done with updating process of the address on time, then ensure that it will be amended in your policy document also. This will clear all doubts.
If it is not an instant procedure, then you have to wait until they inform you.
Once they updated the same, you should cross-check the same just by login to your LIC portal and under profile.
Conclusion
Beware of all the frauds who claim to get it done online as for now there is no process of changing the address online. Visit your nearest branch and services to get it done and to know about all procedures related to updating.
Last Updated : December, 2019
Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.
