How to change address in an LIC Policy?

How to cancel the LIC policy within grace period?How to cancel the LIC policy within grace period?


How to change address in an LIC Policy?

Importance of Updated Contact Information in your LIC Policy:

How to change address in an LIC Policy? When the original LIC Policy Document is issued, the address of the policyholder is pre-printed on the same and all future communication happens to this mentioned address only.

Updation of contact address and phone number as well as email id is of utmost importance in today’s day and age so that the communication process is smooth and all important communication can be provided at the correct address. Even if the address changes, it is extremely important to keep the company updated about the change of address so that any communication sent to you, like premium notices, discharge vouchers for maturity and survival benefits etc., is not delayed.

LIC provides for change of addresses, inclusion of telephone numbers, mobile numbers and email addresses in your contact addresses information. Kindly inform your servicing branch to incorporate the same in your policy records.

How to change address in an LIC Policy?

Steps to Change Address and other contact information in an LIC Policy:

  • The Address and other Contact information can only be changed at the home branch, i.e. in the branch where the policy had been initially taken and services the policy. Thus, to make any changes, one needs to visit the home branch only or send a representative with an authorization letter.
  • The change of communication address or any other contact information like phone number, email address etc. needs to be changed via writing ONLY.
  • Change of address needs to be supported by KYC(Know your customer) documents:
    • Identity Proof:
      • PAN Card
      • Passport
      • Voter Identity Card
      • Driving License
    • Address proof like:
      • Bank Account Statement updated within the last 3 months
      • Utility bill of last 3 months
      • Passport
      • Voter Identity Card
      • Driving License
      • Aadhar Card
    • The change in address of an LIC policy happens as an endorsement to the original policy bond which needs to be attached to the original policy bond and kept securely
    • An endorsement is a notification to the Life Insurance Corporation of India, LIC which is registered in its records and duly stamped, without which the change in nomination is not applicable.

The address change can be done with a letter, duly signed as per the signature of the policy along with KYC documents submitted at the home branch and the new address will be updated as per LIC’s records within 7-10 working days.

Introduction of eIA

IRDA(Insurance Regulatory and Development Authority of India) has come up with the new concept of eIA (Electronic Insurance Account) where all policies are rematerialized and kept in an electronic form across all insurance companies including LIC and other private players.

As of now, only Life Insurance policies can be rematerialized but going ahead, non life and general insurance policies can also be rematerialized and kept in an electronic format. The advantage would be that once the contact information, i.e. address, phone number, etc. is updated in eIA it need not be separately updated with each insurance company.

How to change address in an LIC Policy?

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