How to Apply for Duplicate LIC Copy?

Before applying for duplicate copy make a thorough search within your residence, among your investment papers, locker.

After checking all the probabilities and one should also consider whether it could have been even pledged with LIC/any other financial institution for availing a loan by you.

LIC retains the policy bond when you go in for a loan against the policy. Make sure that the document you are searching is not one that has already been assigned to LIC, or to another financial institution.

In case you are sure that the policy bond is untraceable due to unknown causes, there is a simple procedure to comply with while applying for the duplicate policy at the branch that services your policy.

A duplicate policy confers on its owner the same rights and privileges as the original policy.

The following are the requirements for issuing a duplicate policy:

1 An advertisement in one English daily newspaper having wide circulation in the State where the loss is reported to have occurred.

2) A copy of the newspaper should be sent to the servicing office one month after its appearance.

3) If no objection has been lodged with LIC regarding the policy in question, a duplicate policy will be issued after complying further requirements, i.e., Indemnity Bond and payment of charges for preparing duplicate policy and stamp fee.

4) However, the requirement of advertisement and Indemnity Bond may be dispensed with or modified in certain circumstances as given below :

• Loss of policy by theft
• Destruction of policy by fire
• Loss of policy while in custody of an office of government
• Mutilated or damaged policy
• Policy in torn and a part of it is missing
• Policy partially destroyed by white ants

If the policy bond is partially destroyed due to natural causes like, fire, flood, etc, the remaining portion may be returned as evidence of loss of policy to LIC, while applying for a duplicate policy.

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