FAQs

Life Insurance

01 Jul 2003

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tPara"> It is not necessary to have a duplicate policy made in case the policy that you wish to surrender is lost. However these requirements must be fulfilled:

  • No advertisement is needed for surrender values up to Rs.1000/-, inclusive of the vested bonus. LIC also holds the discretion to waive off the advertisement requirement depending on the merits of the case where the surrender value stands between Rs.1000/- and Rs.2000/-. However in cases where the surrender value exceeds Rs.2000/- or the sum assured exceeds Rs.25000/-, advertisement in one newspaper is insisted upon.
  • Declaration of surety is necessary as in the case of the issue of a duplicate policy.
  • An indemnity bond duly stamped and completed by the life assured along with a surety. The stamp duty on the indemnity bond will depend on the amount of the surrender value of the policy.
  • Discharge form and form of declaration of no assignment duly completed by the policyholder.

Risk Factors – Investments in Mutual Funds are subject to Market Risks. Read all scheme related documents carefully before investing. Mutual Fund Schemes do not assure or guarantee any returns. Past performances of any Mutual Fund Scheme may or may not be sustained in future. There is no guarantee that the investment objective of any suggested scheme shall be achieved. All existing and prospective investors are advised to check and evaluate the Exit loads and other cost structure (TER) applicable at the time of making the investment before finalizing on any investment decision for Mutual Funds schemes. We deal in Regular Plans only for Mutual Fund Schemes and earn a Trailing Commission on client investments. Disclosure For Commission earnings is made to clients at the time of investments. Option of Direct Plan for every Mutual Fund Scheme is available to investors offering advantage of lower expense ratio. We are not entitled to earn any commission on Direct plans. Hence we do not deal in Direct Plans.

AMFI Registered Mutual Funds Distributor | ARN-52619 |Validity: 20/08/2027