Unclaimed LIC Policy? Get Your Money Back Easily!

• Many LIC policies remain unclaimed due to reasons like address changes, unupdated bank accounts, or unaware nominees, leading to crores of rupees lying with LIC.
• According to IRDAI rules, amounts not claimed within 12 months of maturity or policyholder's death are considered 'unclaimed' and accrue interest.
• Unclaimed amounts held for 10 consecutive years may be transferred to the Senior Citizens' Welfare Fund, making the claim process longer.
• Check for unclaimed policies on LIC's official website using policy number, policyholder's name, date of birth, and PAN.
• To claim, contact the nearest LIC branch with an application, Aadhaar, PAN, bank details, and the original policy bond or an indemnity bond if lost. Legal heirs can claim with a succession certificate if there's no nominee.

Why It Matters: Check for unclaimed LIC policy funds online and claim them promptly to avoid lengthy processes.