LIC Maturity Amount Not Received, What to do now?

Do you know how much time it will take to get LIC maturity amount and what to do if not received in time, where to check the maturity amount, Can I claim my LIC maturity amount in online? Find all the solutions and the process to get if not received the claim within time…

LIC Maturity Amount Not Credited

As LIC is a large scale company holding data of lakhs of policy holder, it might be a case that few don’t get any information about their maturity amount, and Life insurance Corporation of India will send an advance maturity claim intimation letter to every customer who are about to meet their maturity period, just before two months.

The intimation will be an official confirmation letter to customer to provide their documents and verify them to attain the maturity amount from LIC, on this day of maturity, the internet paying on amount to policy holder by LIC which will be stopped and total gross amount be calculated and will be processed to credit in Customer provided bank account through NEFT.

If all documents are pre verified or submitted to LIC office, then maturity Claim amount will be automatically credited into policy holder account with in due date, and If in any case not received means, the documents are not proper or don’t hold roper justification about reaching the maturity, then one should manually get their documents submitted.

The period of maturity will be a date of completion of LIC policy, since after that customer will be able to review their amount collected through the gross period, and the customer of LIC can also increase their maturity period, if they wish not to disburse their amount by signing a new policy provided.

Reasons for Delay in Maturity Amount Credit

Wrong account number or not submitting of all documents released to maturity amount release, will be surely led LIC to stop disburse of maturity amount, as the final amount of maturity is large, LIC will not show any leaser in verifying the documents of policy holder, and the customer should also meet the points of maturity in all aspects to sensation the amount.

Documents provided to Office should have same Name and Personal details, that were submitted during starting of Life Insurance Policy, and also the account amount to be credit should belong to policy holder name else transaction of disburse will be put on hold.

Any miss match in documents provided need to clear or should be dual signed by policy holder in presence of head manager of serving branch, and It is also to be checked that your account residing bank should accept the amount that is to be disbursed by providing a form given by LIC of India.

Documents for Maturity Claim Discharge

The below are some valid proof which need to present to LIC serving department to confirm your maturity and known amount of maturity to be credited.

  • Original LIC policy Document
  • Identity proof
  • Age Proof
  • NEFT Mandate Form (form customer bank to get amount transferred directly)
  • Cancelled Cheque

If LIC policy holder has not got any information or intimation about their maturity amount due or not received, then they must reach to their nearest servicing Branch, and If your are sure about meeting your Maturity date, then you can even go through Life Insurance Corporation of India Online to claim your maturity amount, where the amount being released by LIC to policy holder account will be under Tax benefits and customer should not worry about any huge amount being laid in their bank account.

  1. What to do if LIC amount not received within time?

    First check, whether you have submitted final documents to LIC serving branch, If not just submit the required to authority to process the maturity claim, and even submitted but not received, approach the concerned and know the valid reason for delay.

  2. Can we submit my dependents bank account to credit my LIC maturity amount?

    No, only the policy holder's bank account and that too with the same name of policy holder will get the maturity claim benefits.

  3. All documents submitted, but not received LIC maturity amount, Why?

    Just check, if your bank account number and IFSC code has been properly entered in the database of LIC by approaching concerned department.

  4. Can we check the credit status of LIC maturity amount in online if not received?

    The final maturity claim credit status to bank doesn't available in online, you may approach concerned LIC service branch if your maturity amount not received.

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2 thoughts on “LIC Maturity Amount Not Received, What to do now?”

  1. My policy matured end of April 2020 I have completed all formalities and received message amount is registered for NEFT but after one month also I have not received the money I visited your 92 A branch but there they are saying we don’t have the staff to look into the matter I am really harassed by this I called on service desk they booked my complaint again I received the message we will call you within two working days and 5 days are over but nothing has happened please advice.

    Reply
  2. I had taken a LIC Policy no. 74273683 on 25.08.1985 for the sum of Rs. 40,000/- in plan & term – 14-30 with mode of Qly payment of Rs. 340.50. in Nagpur, I than transferred my business to Jabalpur in the end of 1988, I paid my last premium in Nagpur vide receipt no.1984 on 04.11.1988 after which transferred my LIC policy to Jabalpur, I paid my next premium at Jabalpur vide receipt no. 4720 on 26.12.1988, At that time the payment receiving clerk issued the receipt with change of Policy no. 74273683 to 74273883, I kept paying the premium on the new number. The maturity date was 28.08.2015, The last premium was paid on 19.08.2015, I have not yet received my maturity after doing all the required formalities.

    Reply

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