LIC Policy Registration Online : Detailed Guide (Updated)

Life Insurance Corporation of India, popularly known as LIC is one of the oldest and largest insurance companies operating in India. Backed by the Government of India, LIC has the largest agent network, widespread branch network and huge customer base. LIC is one of the most trusted brands in India that offers a wide array of insurance products to cater to every need of people in the country.

When it comes to insurance or investment, it is not only important to buy the right one but also important to keep tabs on these financial investments regularly. It’s crucial to be updated on payments and status of the investments. LIC is one such brand that not only offers a variety of products but also provides excellent e-services to its customers.

Overview of LIC online registration

Be it for customers or for its agents, LIC offers convenience on its online platform with its registration facility. The process of LIC online registration is effortlessly easy and simple. If you are a customer of LIC holding their investment plans or if you are an agent, you can register yourself on LIC’s online portal to access details related to your existing investments/policy or on new investment opportunities or access your business information online.

Benefits of online registration on LIC’s portal:

LIC’s online portal offers various facilities on LIC policy registration. Following are the benefits that you can avail by using LIC’s online services:

  1. Pay your LIC premium online:

    Be it your policy premium due or loan repayment/interest due, you can easily make payment in no time from anywhere using a debit card/credit card/net banking/UPI for BHIM payment methods

  1. Check your policy status:

    Access the basic details of your policy like the sum assured, policy term, unpaid premium or premium paid etc. from anywhere anytime

  1. Complete information about the accrued bonus:

    You can know how much bonus is accumulating each year for your policy

  1. Details of your claim status:

    You can check your policies maturity date and benefits due. In case of any claims placed, status can be checked here

  1. Check your loan status:

    If you have availed loan against your LIC policy, you can check the details relating to the loan outstanding and loan interest details etc.

  1. Check premiums due:

    You can check premiums due for the year under premium-due calendar facility

  1. Premium paid certificate:

    You can get premium paid certificate for an individual policy as well as for all policies on a consolidated basis for the current or previous years

  1. Policy Bond:

    You can download copies of the policy bond and proposal form image

  1. Complaints:

    You can register your grievances and complaints

  1. Nominees:

    You can add or change nominees

  1. Revival:

    You can get a revival quotation for all your lapsed policies

  1. Benefit Illustration:

    You can also get benefit illustration for any LIC products

    Wide range of services offered online for registered customers saves the time and effort of enquiry. This makes the information access easy for you and thus makes you have better policy knowledge. You will be updated with the status of your policy, bonus and claims etc. there is no way you will miss out on premium payments with the prompt online facilities offered on LIC’s online portal.

The step-by-step process of LIC online registration

LIC online registration process varies depending on the purpose of registration. You can register as an individual LIC agent or as an existing LIC policyholder. Let’s take a look at the step-by-step process flow for both types of registration.

  1. Register as an insurance agent

    If you want to be a LIC agent and manage your business online without visiting the LIC office on a daily basis, you can do so by registering yourself as an agent on the LIC agent portal. In order to become an agent, you need to pass the pre-licensing test conducted by IRDAI (Insurance Regulatory and Development Authority of India). Anyone who is 18 years and above with 10th grade completed from the registered board can appear for this test. LIC will even train you for appearing for the test. Once you obtain minimum marks in the pre-licensing test, LIC will issue your agent code to start working as LIC insurance agent. However, you will have to submit some documents like identity proof and address proof etc to get the agent code. With the agent code, you can register yourself as an agent on the LIC online portal. Following is the simple process to follow for online registration.

    1. Login to LIC official website
    2. Click on ‘Agent’s Helpline Module’ tab under online services. This will navigate you to a new page for registration.
    3. Click on ‘new user registration’
    4. Provide all the relevant details such as agent code, branch code, your email ID and contact number and set the password of your choice
    5. Click on ‘Generate OTP’
    6. OTP (one-time-password) will be sent to your registered mobile number or email ID
    7. Enter the OTP and submit. That’s it! Your registration is done!
  1. Register on LIC e-portal as client or policyholder

    If you are an existing policyholder of LIC, you can register yourself on LIC’s online customer portal. You can only access policies bought in your own name or in the name of your minor child. Before you start with the LIC online registration process, keep the following information handy:

    1. Policy numbers
    2. Premium instalments for each policy (without GST or service tax)
    3. A scanned image or copy of PAN card or passport

    Following is the process flow for LIC policy registration on LIC’s customer portal

    1. Login to LIC official website
    2. Click on ‘customer portal’ tab under online services. This will navigate you to a new page for registration.
    3. For the first time registration, click on ‘new user’ tab
    4. Fill in all the relevant details such as your policy number, instalment premium without tax, date of birth, mobile number, email ID, passport number and PAN.
    5. Confirm all the details you have provided by ticking the box given below and proceed
    6. In the next screen choose the password of your preference and finish the registration

    To avail premier e-services, there are two ways

    1. If already registered on LIC portal
      1. You can log in with your user ID and password as a registered user and avail basic services
      2. Further, you can add all of your policies under the same login
      3. For availing all e-services, register your policies for availing e-services under the same login by filling out the request form provided
      4. Fill in relevant details, print the form, sign and upload it along with a scanned image of PAN card and Passport
      5. Once your documents are verified by LIC offices, email or SMS confirmation will be sent for you to access premier e-services
    2. If you still have not registered yourself on the portal of LIC, then you need to follow these steps:
      1. Login to LIC official website
      2. Click on ‘customer portal’ tab under online services. This will navigate you to a new page for registration
      3. For the first time registration, click on ‘new user’ tab
      4. Fill in all the relevant details such as your policy number, instalment premium without tax, date of birth, mobile number, email ID, passport number and PAN
      5. Confirm all the details you have provided by ticking the box given below and proceed
      6. Once you complete the process of initial registration with password selection, you can start adding all your policies under ‘add policy’ of ‘basic services’
      7. Click on the registration form for availing premier e-services under the same login
      8. Fill in relevant details, print the form, sign and upload it along with a scanned image of PAN card and Passport
      9. Once your documents are verified by LIC offices, email or SMS confirmation/acknowledgement will be sent to you to access premier e-services
      10. That’s it! This completes your LIC policy registration as LIC policyholder. You can start availing all the services offered on the online platform.

To sum it up, LIC online registration is the most convenient and easiest way to take control of your LIC investments. Have you already registered yourself on LIC online portal? If not, register yourself now with your existing LIC investments and get a hold of your further premium payments without any hassles/penalties, keep a check on your investment status, the bonus you are accumulating and get updated on newer LIC investment opportunities coming your way.

How to Transfer Ownership and Bike Insurance

My friend Raj wanted to sell off his existing bike to buy the new trendy model which everyone was talking about. He was a bike enthusiast and his promotion gave him the excuse to splurge on a new bike. Thanks to the online platform, he also found many interested buyers for his bike but what he was clueless about was how to transfer his bike’s ownership and what to do with the existing insurance policy.

Raj’s problem is not uncommon. Most of you who are looking to sell your bike second-hand don’t know how to transfer the ownership of the vehicle. Moreover, when it comes to the attached insurance policy, the confusion increases further. After all, transferring ownership and insurance are both legal steps which require you to follow specified procedures. Considering the procedures to be difficult most of you are ignorant about the process of transfer of ownership and bike insurance policy. So, let’s un complicate things for you –

Selling your bike second hand requires you to deal with two main aspects –

  1. Transferring ownership
  2. Transferring insurance

Both these aspects have a well-defined procedure. Let’s understand what the procedures state –

Process of transferring ownership of the bike

  • You should first approach the RTO of the state in which your bike is registered. You are required to inform the RTO regarding the sale of your bike and the transfer of ownership. If you do not know your nearest RTO office, you may find the same by clicking on this link.
  • To inform the RTO, you are required to submit some forms and documents. These include the following –
    • Completed Form 28 which is for transfer of ownership
    • Completed Form 29 which is a No Objection Certificate. The form should be filled and it should contain your (the seller’s) signature
    • Completed Form 30 which is an application for intimation of transfer or report of transfer. This form should be filled and signed by both you (the seller) and the buyer of the bike. Moreover, you also have to attach a print of the chassis of your bike
    • Registration Certificate
    • Tax certificate
    • PUC Certificate
    • Copy of the bike’s insurance policy
    • Your address proof
    • Passport sized photographs
    • If the bike is registered at another state’s RTO and the sale is happening in another state, a NOC from the registered RTO would also be required
    • If the bike is on loan, NOC from the lender would also be required
  • If the actual owner of the bike dies and then the bike is being sold or acquired by anyone else, additional documents would be required. They would include the death certificate of the owner, Form 31, succession certificate and an affidavit from the successor.
  • A registration fee would also have to be paid when transferring ownership. The fee should be paid along with the submission of all relevant documents.

Once you follow these steps, the process of transfer of ownership would start and your bike would be legally transferred in the buyer’s name. The transfer process should start within 14 days from the date of sale of the bike. However, if the buyer resides in another state, the transfer should commence within 45 days of the sale of the bike.

Process of transfer of bike insurance policy

Once you are done with the transfer of ownership, you are required to transfer the insurance policy. In fact, it is the duty of the buyer of the bike to get the insurance policy transferred in his name within 14 days of buying the bike. If not, any claim made would not be paid. You should also help the buyer with the transfer process as you would be legally held liable for any claim faced by the buyer till the policy is transferred.

Bike insurance in India can be either third-party insurance or comprehensive insurance policy. These help you stay protected against any damages in case of an accident.

Browse comprehensive bike insurance plans in detail by clicking the following button.

Transferring insurance is quite a simple process actually. To do so all you have to do is follow the below-mentioned steps –

  • Inform the insurance company about the sale of your bike
  • Some documents need to be submitted to the insurer to transfer the insurance cover in the name of the buyer. These documents would be the following –
    • The new RC book of the bike containing the name of the buyer. If the new RC book is not yet available, the proof of transfer of ownership can be submitted for the time being. Later, when the RC book is available, it should be submitted to the company
    • Original policy bond
    • Address proof of the buyer
    • Passport sized photographs of the buyer
  • Once the documents and request for transfer is submitted, the insurance company would begin the transfer process
  • The bike might be inspected in some cases
  • A fee would also be required to be paid for transferring the policy
  • You should avail the no claim bonus certificate from the insurance company so that the accumulated bonus of the policy can be retained in your name
  • If the documents are in order and the transfer fee is paid, the insurance policy would be transferred in the name of the buyer

The whole process of insurance transfer should also be done within 14 days of selling the bike. The third-party cover would automatically operate in the name of the buyer from the date of sale for up to 14 days. It is assumed that during this process the transfer process would be completed. However, once 14 days are over and the policy has not been transferred, the third-party cover would also cease.

As stated earlier, though transferring the policy is the burden of the buyer, you, as a seller should be involved in the process. Here are the reasons why –

  • Retention of No Claim Bonus – any bonus you earn because of not making any claim in the previous policy years entitles you to a discount. It was your safe driving which caused no accidents and, thus, incurred no claims. Therefore, you are entitled to enjoy the benefits of the No Claim Bonus earned on your policy, especially when it allows premium discounts. If you do not transfer the policy, you cannot avail the No Claim Bonus Certificate and you lose the discounts earned by you. Would you want that?
  • Freedom from future liabilities – suppose the new buyer of your bike causes damage to any person or property while driving the bike. If a third party claim is raised on your policy and you are named as the policyholder, you would be legally liable. Though your insurance policy would pay off the financial claims, you would have to ensure such claim settlement. Transferring the policy, therefore, frees you from future liabilities.

Transferring the ownership and insurance policy of your bike is essential when you are selling it off to another person. It is legally required and is also beneficial. My friend Raj didn’t know about it and so he was given the complete lowdown on the transfer process. You have been informed too. So, the next time you sell your bike, remember what you have to do.

If you’re transferring your bike insurance in order to buy a new bike, we suggest you click on the button below to browse through the variety of attractive insurance plans for new bikes available at our portal.

Simply enter a few details and compare the most relevant plans as per your needs at the most competitive premiums and attractive insurance declared values!

Read more RTO forms for availing a driving license

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