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Incase the LIC policy bond is lost will there a duplicate be issued ?
Hi Krishnan, as per LIC website, the standard procedure to get a duplicate copy for LIC policy bond is highlighted below:
1. Place a newspaper adertisement in an English newspaper with wide coverage in the state where you report the loss. Send a copy of the newspaper with the advertisement to the LIC servicing office one month after it's release in the newspaper, alongwith indemnity bond, charges for preparation of duplicate copy and stamp duty. Placing an ad may not be needed if the policy was lost due to any of the following reasons:
a. Theft
b. Destruction by fire
c. While in custody of a government office
d. Mutilated or damaged
e. Partially damaged by white ants
f. Torn with a part of it being missing
2. Request for form 3756 from LIC branch and print it on a non-judicial stamp paper. Confirm about the value of stamp paper valid in your state, fill out the details requested in the form and get it signed by two witnesses. This is called the indemnity bond
3. Fill out the questionnaire provided by LIC regarding the reasons for loss of your policy bond. Attach the last receipt from LIC alongwith this form
4. Submit the following documents and fees at the LIC branch:
a. Newspaper with the advertisement (if applicable in your case)
b. Filled out Indemnity bond with witness signatures
c. Filled out Loss of Policy Bond questionnaire
d. Valid Identify proof: e.g., passport, voter ID, PAN card, driving license
e. Valid residence proof: e.g., Bank statement, telephone bill, ration card, electricity bill
f. Duplicate policy charges and stamp duty
g. Remaining portion of the policy if the policy was partially destroyed by fire, natural disasters etc.
LIC will then issue a duplicate policy bond after scrutinizing the application. If everything is in order, the policy will be received at your registered address or can be collected by you from the branch (if prior consent has been given for this).
For any modifications in requirement in your specific case, we suggest you visit an LIC branch or call LIC helpline for clarification.
