LIC: Efforts are on to trace the claimants of unclaimed money through the portal. The highest unclaimed amount is with SBI. But let us tell you that apart from banks, LIC also has unclaimed money.
LIC Unclaimed Money: Recently, quoting RBI, news came that 12 banks have unclaimed amount of Rs 35,000 crore. To find out about this money, RBI has decided to start a centralized portal system.
Efforts are being made to trace the claimants of unclaimed money through this portal. The highest unclaimed amount is with SBI. But let us tell you that apart from banks, LIC also has unclaimed money.
No claimant for Rs 21,500 crore
There is no claimant of about Rs 21,500 crore lying with LIC. Information about this was also given earlier by LIC. No specific information was given about the unclaimed money lying with LIC, but at the time of the launch of the IPO of the insurance company, it was informed in the documents that the insurance company has 21,539 crores till September 2021. Rupee is such that no one is claiming it.
If you also want to know whether your or any of your acquaintances’ unclaimed policy money is not there in the unclaimed money, then we are telling you the process of checking. LIC has given a special tool to know about the unclaimed amount. Through this you can find out the unclaimed amount.
How to know unclaimed amount
- First of all you have to go to the website of LIC.
- Here you have to go to the customer service section.
- Here you have to click on ‘Unclaimed Amount of Policyholders’.
- After clicking on this link, a separate window will open, here give the details of policy number, policy holder’s name, date of birth and PAN card etc.
- Now after clicking on submit, you will get the details of unclaimed amount.
Can claim by following KYC
You can claim the unclaimed amount by following KYC rules. For this, you have to get your proper KYC done, as well as the KYC of the policy holder should also be updated. Apart from this, you will also have to submit the documents related to the policy. If this amount is released from LIC, then it will be credited to the policy holder’s account.
What is unclaimed amount?
As per the rules of the Insurance Regulatory and Development Authority of India (IRDAI), insurance companies have to keep the information about the unclaimed amount of Rs 1,000 or more updated. If any amount remains unclaimed with the insurance company even after a period of 10 years without any change, then it is called unclaimed amount and is given away.
