If you have lost your insurance policy documents, then there is nothing to panic. Application can be made for making duplicate policy document.
If the policy bond is damaged due to fire, flood or any other reason, then the remaining portion can be deposited in the insurance office.
Life Insurance : Be it investment or insurance or bank account, it is necessary to register the name of the nominee in all these. In the absence of a nominee, the insured or the account holder, the family dependent on him has to face a lot of difficulties.
Many times such cases also come to the fore that a person had bought a policy long back, now he wants to get the name of the nominee registered in it, but the policy papers are not available.
A person living in Delhi’s Karol Bagh says that he had bought a single premium term insurance policy 15 years ago. Now he wants to update the name of the nominee in it, but the policy documents are not available.
No policy details. He can’t even remember the name of the insurer. The problem is what should I do now?
Study of Income Tax Return
Here experts say that in such a situation, a person should study his old income tax return. It is likely that you have claimed income tax deduction for the premium of life insurance.
In this case, you will get to know the amount and year of the insurance premium. Can scan the bank account details for the actual amount of premium paid and the name of the insurer.
Apart from this, you can contact the insurer to find out the policy number on the basis of your identity proof. Here the insurer may ask you to file a police complaint and share the indemnity bond.
The insurer may also ask you to issue an advertisement in the newspaper declaring that your original policy bond has been lost.
Duplicate LIC policy documents
If you have lost your insurance policy documents, then there is nothing to panic. Application can be made for making duplicate policy document.
If the policy bond is damaged due to fire, flood or any other reason, then the remaining portion can be deposited in the insurance office.
This will be considered as a certificate for the new policy. If you have a copy of the policy, the insurance company will have full confidence that you are the person who wants to get a duplicate policy.
If you do not have any document related to the policy, then you will have to apply for a new copy at your branch. For a duplicate insurance policy, you have to pay some amount to the insurance company.
You have to publish an advertisement regarding the policy in the news paper. Before getting printed, check the guidelines of the insurance company, because this whole process depends on the rules of the insurance company.
Duplicate copy of the
policy Wait for at least one month from the date of publication of advertisement regarding loss of policy. If your policy is not received even after about a month of advertising, the insurance company considers you eligible to pay the bond.
You need a stamp paper to get a duplicate copy of the insurance policy. For this you also have to deposit a fee. This fee is called the duplicate policy fee.
In the indemnity bond, it is necessary to mention all the important information such as the name of the policy holder, policy number. The bond is signed by the policyholder and witnesses as per the requirement.
The insurance company investigates all the information given by you. If they are correct then the process of duplicate policy is started.
