How Can I Get Loan From LIC?

Can I take LIC loan from any branch?

You can avail of the loan from LIC itself, or you can also borrow from other banks.

You do not need to cancel or surrender your existing policy, thus allowing you to keep your savings intact and at the same time, meet your personal expenses..

How can I prepay my LIC HFL loan?

The procedure for same is as given below:Login with user id and password on customer portal.Click on Pay Online.Select Loan Account and click on “Get Dues”.Amount due as on date will be shown for the selected loan account.Click on Pay.Select the mode of communication.More items…

How much money will I get if I surrender my LIC policy?

Guaranteed Surrender Value: The policy can be surrendered after it has been in force for at least 3 full years. The Guaranteed Surrender value will be equal to 30% of the total amount of premiums paid excluding the premiums for the first year and all the extra premiums and premiums for accident benefit / term rider.

How much loan can I get from LIC Jeevan Anand policy?

The loan can be availed only after you have paid premium for three years. The maximum loan amount is 90% of the Surrender Value (85% in case of paid up policies) of the policy at the time of making application. LIC New Jeevan Anand acquires Surrender Value only after 3 years.

How can I get loan against LIC policy?

Eligibility CriteriaThe applicant should be a resident of India and at least 18 years old.The applicant must have a valid LIC (or other life insurance) policy.The LIC policy used for obtaining loan has guaranteed surrender value (term plans not eligible)At least 3 years of LIC premium has to be paid in full.More items…•

How can I know my LIC loan status?

Check LIC Policy Status Online (For Registered User)Step 1:You must visit the e-Service Portal of LIC. … Step 2:You will need to enter the login credentials namely, your User Name and Password.Step 3:Once you’re logged in your Services Account of LIC, you will see various options related to the account or your policy.More items…

Does LIC give loan?

Life Insurance Corporation (LIC) is the largest insurance company in India and apart from various insurance products it also offers its policyholders the option to avail personal loans against their insurance policies.

How is LIC maturity amount calculated?

Sum Assured (A): = Rs. 5,00,000.Total Bonus Amount on Maturity (B): * = Rs. 1000.Maturity Amount (A+B): = Rs. 35,000.Period of Maturity = Dec, 2021.

How can I download LIC receipt?

To download the LIC premium payment receipt online, you need to be a registered user of LIC’s e-Services. Visit LIC Homepage and click on the link called LIC e-Services that is available on “Online Services”. Click on the tab “Registered User”. Because you are already a registered user.

How do policy loans work?

A policy loan is issued by an insurance company and uses the cash value of a person’s life insurance policy as collateral. Sometimes it is referred to as a “life insurance loan.” Traditionally, policy loans were issued at a very low-interest rate, but that is no longer universally true.

Is loan good for LIC policy?

Although the maximum amount of loan you can avail is around 85-90 percent of the surrender value of the policy, if you take a loan in the initial year, the loan amount availed will be significantly low as it takes years for a you to accumulate a significant surrender value under their life insurance policy.”

How can I download my LIC loan?

In order to generate your home loan statement, follow the steps below:Select the “Repay Certificate” link on the left hand side.Select the home loan account number.Select the relevant financial year.Click on “Go” to generate the statement.