LOANS

 

LOANS

LIC Policy Loans

The Corporation can grant a loan to the policyholder against his policy as per the terms and conditions applicable to the policy. The requirements for granting a loan are as under :

a) Application for loan with an endorsement of terms and conditions of the loan being placed on the policy.

b) Policy to be assigned absolutely in favour of the Corporation.

c) A receipt for the loan amount.

The maximum loan amount available under the policy is 90% of the Surrender Value of the policy (85% in case of paid up policies) including cash value of bonus.

The rate of interest charged on loans is at 9% to be paid half-yearly. The minimum period for which a loan can be granted is six months from the date of its payment. If repayment of loan is desired within this period the interest for the minimum period of six months will have to be paid. In case the policy becomes a claim either by maturity or death within six months from the date of loan interest will be charged only upto the date of maturity/death.

203 Comments on "LOANS"

  1. M.RAMACHANDRA | August 9, 2015 at 6:10 am | Reply

    Dear.Sir
    Just I want to know my LIC Policy. against loan details. Which I want to pay the loan amount. If there is any facility. To pay through ON Line .

  2. vijay shankar ram | July 28, 2015 at 3:25 pm | Reply

    my policy no. 287468931,583912010 maximum loan granted

    • Loan Calculator

      Policy No 287468931
      DOC 19/07/2011
      Plan 75
      Term 20
      Paid Up Value 28,000.00
      Accrued Bonus 0.00
      Surrender Value 8,417.00
      Loan Amount 7,500.00

      Policy No 583912010
      DOC 12/03/2008
      Plan 75
      Term 20
      Paid Up Value 15,100.00
      Accrued Bonus 7,800.00
      Surrender Value 8,929.00
      Loan Amount

      Loan Amount displayed under your policy is the Gross Amount available.
      For exact amount please contact the servicing branch.

  3. GATTU PRAVEEN KUMAR | July 22, 2015 at 3:30 am | Reply

    i want loan on my lic policy what is the process give me information .
    contact no- 9704231205

  4. I have 02 Jeevan Anand policy Of Sum assured Rs 1 Lakh each commence from 28/04/2002. one more policy of one lakh sum assured jeevan anand commence from 28/03/2011. pl intimate max loan i can get

  5. Policy no. 535678725 please tell me due date of loan interest and lic break amount

    • LIC Surrender details under Policy

      Policy Number : 535678725
      Plan Number : 149
      Surrender Value : 40377.00

      Subject to deduction of previous Loan,interest,etc

      Kindly refer Policy Conditions.
      In case of any discrepancy please contact Servicing Branch or Customer Care Executives.

      LIC Bonus details under Policy

      Policy Number 535678725
      Plan 149 – Jeevan Anand
      Accrued Bonus 33800
      Interim Bonus 4400
      Final Addl. Bonus 0
      Loyalty Additions 0
      Guaranteed Additions/Bonus accrued till date is payable subject to policy conditions and after deduction of previous Loan, interest or any other deduction due under the policy.

      IMP
      In case of any discrepancy please contact Servicing Branch or Customer Care Executives.

  6. VULLAKULA SRINIVASA RAO | July 15, 2015 at 7:51 am | Reply

    please send the loan status.
    P.NO: 692476924
    V.SRINIVASA RAO

    • LIC Loan Calculator

      Policy No 692476924
      DOC 28/10/1998
      Plan 88
      Term 20
      Paid Up Value 20,938.00
      Accrued Bonus 15,525.00
      Surrender Value 28,197.00
      Loan Amount 25,250.00

      Loan Amount displayed under your policy is the Gross Amount available.
      For exact amount please contact the servicing branch.

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