The Life Insurance Corporation of India (LIC) had a total unclaimed maturity amount of Rs 880.93 crore in the financial year 2023-24. According to government information, a total of 372,282 policyholders did not claim their benefits on maturity. This means that even after 3 years of maturity, no one has claimed the contract.
In such a situation, if you feel that your family member has taken an LIC insurance policy, which has expired but the money has not been received. In such a situation, you can claim the amount from this policy. Let us know how to find out the unclaimed maturity in LIC
Process to find out the unclaimed due date
Go to LIC website, click Customer Service on the home page. Go to this option and select the Unclaimed Amount from Policyholders option. Enter the required details like policy number, name, date of birth and PAN card number. information about the policy with an unclaimed maturity will go.
According to the rules, policies whose maturity amount has not been claimed by anyone are deposited in the unclaimed account. If the amount is not claimed for 10 years, it is returned to the Protection Fund for the Elderly. This money is spent on elderly care.
How to claim an unclaimed deposit? Obtain the complaint form from any LIC office or download it from the official website. After filling the form, attach the necessary documents like policy document, premium receipts and death certificate, if applicable. Submit the completed form along with documents to the LIC office. LIC will review your request and, if approved, release the unclaimed amount.
More than 25 million people benefited from an LIC insurance policy. Till 1956, 154 Indian insurance companies, 16 foreign companies and 75 provident societies operated in India. On September 1, 1956, the government nationalized these 245 companies and established the Life Insurance Corporation of India, i.e. LIC. Currently, more than 25 million people benefit from an LIC insurance policy.