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LIC Policy holders: Important news! Know about your unclaimed amount in LIC in 2 steps in 2 minutes

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LIC policy Holders: Good news! Now pay LIC premium like this sitting at home through UPI, know process here

If you have any unclaimed LIC amount or any outstanding policy balance, you can check it online by simply sharing your policy details with the policy provider.


Non-claiming can happen under any circumstances, such as death claim, maturity claim, survival benefit, indemnity claim or premium refund. Details required to check unclaimed amount in LIC-
> LIC Policy Number
> Policy Holder Name
> Date of Birth
> PAN Card

How to know your unclaimed and outstanding amount

  • If any LIC policyholder or beneficiary wants to know whether any amount under his LIC policy is lying unclaimed with the insurer or not, he can get the information by entering the information given below Is.
  • Step 1: Go to the link https://customer.onlinelic.in/LICEPS/portlets/visitor/unclaimedPolicyDues/UnclaimedPolicyDuesController.jpf
  • Step 2: Enter all the required details and click on submit. You can claim the amount, if any, after KYC and submission of documents. Note that all payments due to policyholders relating to insurance policies shall be made through the respective bank accounts through any electronic mode.

What do the rules say about unclaimed accounts
If any amount is left unclaimed for more than 10 years, the entire amount is transferred to the Senior Citizens Welfare Fund, as per rules, such money is used for the benefit of senior citizens. According to a government notification, “The Government has issued notification F.No. 13/20/2014/NS-II, dated 11.04.2017 has amended the rules and notified Life, General and Standalone Health Insurance companies in the list of entities which are unclaimed to SCWF after 10 years shall be liable to transfer the amount. Accordingly, all insurers shall ensure that the unclaimed amounts of the policyholders are kept in custody and invested by the Authority under this circular for a period of 10 years from the due date. Unclaimed amount, on completion of ten years, vide notification F.No. 13/20/2014/NS-II dated 18.03.

What is IRDAI’s Rule
on Unclaimed Amount As per IRDAI’s circular on Unclaimed Amount, “Unclaimed Amount” would include any amount held by insurers but payable to policyholders or beneficiaries, including income earned thereon, The claim has not been made for more than six months from the due date or the date of settlement of such amount, whichever is earlier. As per the IRDAI circular, “Every insurer shall have to report on their respective websites about any unclaimed amount of Rs.1000/- or more. Will continue as well.

When is a policy said to be claimless?
The policyholder or the beneficiary can claim the outstanding amount under his policy for a period of 25 years from the date of transfer to the insurer’s Senior Citizens Welfare Fund (SCWF). According to the IRDAI master circular, section 126 of the Finance Act, 2015 states that if no claim is made within 25 years of transfer to SCWF, the money will go to the central government.

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