Anirban KarAsked on 30 July, 2018
What action now LIC of India will take to disburse the unclaimed claim money?
As commanded by IRDAI, the insurer will identify the policyholders and will disburse the claims. The insurance companies will check whether any unclaimed amount due to policyholders is lying with their companies and will pay them back.
Senthil KumarAsked on 30 July, 2018
I have started a policy with LIC and paid only first Premium. Can I get back the amount which I paid?
You can surrender the policy any time you want. You will not get the full amount back as the insurance company will charge you for maintaining your policy till the time you terminated the contract. You will get only a portion of the premiums you paid.
Dharani G MAsked on 29 July, 2018
How much amount is under the lapsed policy in LIC?
The total amount under the Lapsed Policy has not been announced officially by LIC.