To change the nominee in your LIC (Life Insurance Corporation of India) policy, you will need to follow these steps..
Obtain the Appropriate Form :
Visit the official LIC website or the nearest LIC branch to obtain the “LIC Nomination Change Form” or “LIC Form 3750.”
Fill Out the Form :
Carefully fill out the form with the necessary details. This includes your policy number, name of the existing nominee, and the new nominee’s details (name, address, date of birth, and relationship with the policyholder).
Sign and Date the Form :
Ensure that you sign and date the form in the appropriate sections. If there is more than one policyholder, all policyholders need to sign the form.
Witness Signature :
The form may require the signature and details of a witness who can attest to the changes you are making. The witness should not be the nominee.
Attach Supporting Documents :
Depending on the circumstances, you may be required to provide supporting documents, such as the nominee’s ID proof, address proof, and a passport-sized photograph. Check the form and LIC guidelines for specific requirements.
Submit the Form :
Visit your nearest LIC branch and submit the completed form along with any supporting documents, if required. Alternatively, some LIC branches may accept these forms online or through postal services.
Acknowledgment Receipt :
After submitting the form, you should receive an acknowledgment receipt. Keep this receipt for your records, as it serves as proof that you have initiated the change in nominee.
Verification and Processing :
LIC will verify the details and process your request. This may take some time, so be patient.
Confirmation :
- Once the nominee change is processed, you will receive confirmation from LIC, either by mail or email, confirming the change in nominee details.
- It’s essential to keep your insurance policy documents and communications from LIC in a safe and easily accessible place. Additionally, inform your new nominee about their role and provide them with a copy of the updated nomination details.
Keep in mind that the specific process and requirements for changing a nominee in an LIC policy may vary depending on the type of policy and the rules and regulations in place at the time of your request. If you have any doubts or questions, it’s advisable to contact LIC directly or visit your nearest LIC branch for assistance.