Calculate the loan you shall avail on your LIC policy. The loan on LIC policies will be charged with an interest rate of 9.5% per annum compounded halfyearly. Loan Against LIC Policies. It may make sense to borrow against your LIC policy. Loans against LIC plans can be a good alternative to. The loan request form. Who is eligible? Only the policyholder, who is holding LIC India policy for more than three years is eligible to avail loan. How much loan could I take? Please download “My LIC” through google playstore or visit: for further details.” 'Notice - regarding linking of Aadhaar Number through SMS' Beware of Spurious Phone Call and Fictitious/Fraudulent Offers Intimation to policyholders regarding changes in tax structure due to implementation of Goods and ServicesTax (GST) - Click Here “ Special Revival Campaign launched from to.

Menu • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • “ Special Revival Campaign launched from to. The Aristocrats Culture Clash Torrent Download here. Golden opportunity to revive your lapsed policies with Concession in health requirements and late fee (Conditions apply). Contact nearest LIC branch for further details ”. 'SMS 'LICHELP ' and send it to or 56767877 for Policy Enquiry/Product Query/Registering of complaint under your policy ' Know your policy details through SMS to 'ASKLIC' (ASKLIC PREMIUM/LOAN/BONUS/REVIVAL/NOMINATION) and send it to ' Dear Policyholder,Please submit Bank Account Details ( NEFT ) to LIC - Click here to Download NEFT form.

One-day approval. And low interest rates! How much can be Borrowed on your LIC Policy?

The Cash Value is the term that needs to be noted, which is also known as the Surrender Value of the policy as well. Prior to applying for the loan it is essential to know the exact cash value of your policy as, in the case that it is very less it is useless applying for the personal finance option unless it is a huge amount. The Surrender or Cash Value The cash or surrender value is basically the amount payable to the policyholder in the case he or she decides to discontinue the policy and encash the same from LIC. This amount is only payable after three full years premiums have been paid to their LIC policy. Also, in case it is a participating policy, the Bonus amount is automatically attached to the amount as per rules of LIC. The surrendering of an LIC is not a good idea considering that the value is always considerably low. However, it means that the loans that you can avail against this amount from LIC will also always be comparatively low.

Eligibility Criteria for Availing the Loan against your LIC Policy Here are some of the main eligibility criteria’s, if you wish to avail a loan against LIC policy: • He or she must be an Indian citizen or residing in India. • He or she should own an LIC policy. • The applicant also must have paid three years of complete premiums before applying for the loan. • He or she should be at least 18 years of age. • The maximum loan amount available under the policy is 90% of the Surrender Value of the policy. In Case of paid up policies 85% of the surrender value and cash value of bonus is the maximum that can be loaned in.

The rate of the interest applicable on the loan is 9% and the minimum period loan is given if for 6 months. Features and Benefits of Loan on LIC Policy The following are the features, including the benefits of availing a loan against your LIC policy: • The loan against your LIC policy is an advance made against the cash value or surrender value of the policy. • The advance is always less than the case value. • Most of the insurers approve 90% of the cash value of the policy. • In case a loan is given, the policy is absolutely assigned and held by Life Insurance Corporation of India as security for repayment of the loan. • You have to pay the interest specified in the loan, which in the case of an LIC policy is generally 9%. • If the individual fails to pay the interest by the due date, the amount will be added to the principle and the interest will be calculated again.