In order to ensure faster credit of policy monies with greater security and privacy, from 1st October'2011, LIC of India
What is a Electronic funds transfer ?
Electronic funds transfer or EFT is the electronic exchange or transfer of money from one account to another, either within a single financial institution or across multiple institutions, through computer-based systems.
What is a Electronic funds transfer ?
All the LIC policyholders / Master Policy holders / Annuitants / claimants have to give the Bank Account details for EFT by downloading the Policy e-payments NEFT mandate form or P&GS mandate form.
Where do I get the above forms ?
You can download it from LIC website or from here - neft_format.pdf P&GS_Mandate_Form.pdf
Advantages of Electronic funds transfer ?
1- The policy holder / annuitant will get the credit in a bank on the same day irrespective of the location of his bank.
2- There will be no extra charges to the policy holders / annuitants.
3- SMS and E-mail alert facility may also be provided by our bank whenever the fund is transferred to the policy holder /annuitant’s account by the Electronic Mode
4- Each payment from LIC through Electronic Mode will create one UID(Unique Identity No). If there is any problem in credit to the account, Master policy holders / annu their bank by quoting this UID no.
Where can I submit above forms ? The completed mandate forms have to be handed over to any Branch office servicing at least one of the policy/policies listed in the mandate.
P&GS Master policyholders/beneficiaries/annuitants mandate form can be handed over to the servicing P&GS Unit.
What to do, if I would not recieve my payments via EFT ?
If within two days of the due date the amount is not credited to the policyholder's bank account, then they may contact respective servicing unit or email at (1) co_pgsfund_sch@licindia.com, (2)co_pgssss@licindia.com or (3) co_pgsanty@licindia.com or write to - P& GS Department, Central Office, 5th floor, ‘Yogakshema’, Jeevan Bima Marg, Mumbai – 400 021
What is a Electronic funds transfer ?
Electronic funds transfer or EFT is the electronic exchange or transfer of money from one account to another, either within a single financial institution or across multiple institutions, through computer-based systems.
What is a Electronic funds transfer ?
All the LIC policyholders / Master Policy holders / Annuitants / claimants have to give the Bank Account details for EFT by downloading the Policy e-payments NEFT mandate form or P&GS mandate form.
Where do I get the above forms ?
You can download it from LIC website or from here - neft_format.pdf P&GS_Mandate_Form.pdf
Advantages of Electronic funds transfer ?
1- The policy holder / annuitant will get the credit in a bank on the same day irrespective of the location of his bank.
2- There will be no extra charges to the policy holders / annuitants.
3- SMS and E-mail alert facility may also be provided by our bank whenever the fund is transferred to the policy holder /annuitant’s account by the Electronic Mode
4- Each payment from LIC through Electronic Mode will create one UID(Unique Identity No). If there is any problem in credit to the account, Master policy holders / annu their bank by quoting this UID no.
Where can I submit above forms ? The completed mandate forms have to be handed over to any Branch office servicing at least one of the policy/policies listed in the mandate.
P&GS Master policyholders/beneficiaries/annuitants mandate form can be handed over to the servicing P&GS Unit.
What to do, if I would not recieve my payments via EFT ?
If within two days of the due date the amount is not credited to the policyholder's bank account, then they may contact respective servicing unit or email at (1) co_pgsfund_sch@licindia.com, (2)co_pgssss@licindia.com or (3) co_pgsanty@licindia.com or write to - P& GS Department, Central Office, 5th floor, ‘Yogakshema’, Jeevan Bima Marg, Mumbai – 400 021
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