lost policy bond

How to get a duplicate policy bond

Introduction

LIC lost policy can be a real nightmare not because it is difficult to get it reissued but a lost policy bond can be misused. If you have lost your original policy bond, don’t panic you can always get a duplicate policy bond issued without much hassle. The bond papers of the insurance policy are the policy certificate that are required to be presented to LIC in case there is an claim or a loan is to be taken on the bond. You need intimate the nearest LIC office or your agent about the lost policy bond document.


The policy holders may run into troubles if the policy bond papers are lost. LIC every year sees lakhs of policies getting unclaimed due to lost bond.

It could have been even pledged with LIC/any other financial institution for availing a loan by you. LIC retains the policy bond when you go in for a loan against the policy. Make sure that the document you are searching is not one that has already been assigned to LIC, or to another financial institution.

If the policy bond is partially destroyed due to natural causes like, fire, flood, etc, the remaining portion may be returned as evidence of loss of policy to LIC, while applying for a duplicate policy.

How to get duplicate bond online

First things first, there no NO method to get a LIC policy duplicate copy online. Having said that, it is very simple to get a duplicate policy issued. There re certain forms that need to be filled in and LIC of India will issue a duplicate bond to you.
The form to get a duplicate policy is available with all branches, lic agents and merchant offices. You can also download the form from the link below.

Why we need duplicate policy bond?

The policy bond is the agreement paper that’s he documentary proof of your policy buying. Every life insurance company would need the policy bond if you are looking for any surrender, taking a loan on the policy or want to get a claim.

What is the procedure to obtain duplicate Policy?


A. Duplicate Policy for Maturity Amount or Death claim


If there is a death claim in the policy. The family will have o get the following documents submitted with LIC of India. Though no new / duplicate policy will be issued but these documents are necessary to process the claim.

  1. Loss of Policy questionnaire (Form No. 311),
  2. Indemnity Letter in Form No. 3815 (unstamped) if the claim amount does not exceed Rs. 5,000 and a no Surety, must be submitted,
  3. Discharge Form,
  4. Form of Declaration of ‘No Assignment’,
  5. A declaration by Surety having sound financial status, acceptable to LIC in appropriate Form, if the claim amount exceeds Rs. 5,000.
  6. Submission of Photo ID
  7. Submission of Proof of Residence of Life Assured

B. Duplicate Policy in other cases


For any other case apart from a death claim the following process is followed to get a duplicate policy document.

  1. If the Policy is Assigned or Mortgaged, the duplicate policy shall bear the latest Assignment that is in force as on the date of issue,
  2. Where the Policy is due for maturity or survival benefit within 3 years and if the sum assured is more than Rs.25,000, an advertisement in a Local Daily newspaper having wide circulation is required,
  3. Indemnity Bond in Form No. 3756 duly stamped and executed by the policy holder on a stamp paper of appropriate value is to be submitted,
  4. If sum assured exceeds Rs. 50,000, declaration by a Surety having sound financial status acceptable to LIC in Form No. 3807 is required ,
  5. Duplicate Policy charges of Rs. 5,
  6. Stamp Duty charges at prevailing rates.

Forms

Bond lost form / lost policy form


3815 pdf / word
3756 pdf / word .

Documents

Sample request letter or application to inform about lost policy bond and request a duplicate bond. issue

Affidavit

Indemnity bond for lost lic policy format in pdf / word

To get a duplicate policy bond issued you would be required to apply for it at nearest LIC branch. The branch would gave you the forms required to submit which can include a identity proof, address proof, affidavit.

How to get a duplicate bond from local branch?

lic policy bond lost affidavit format
lic bond lost affidavit


Letter


Indemnity bond

What if my lic bond is lost

You can have duplicate policy bond issued. Please inform your nearest LIC branch and submit a written application for re-issuance of the bond.

Forgot my LIC policy no

Policy number is mentioned on all documents, receipts that you get from LIC of India still if you cannot find your policy number you get the the same from calling LIC helpline number 022-68276827 or by visiting LIC website www.licinfdia.in

How to get duplicate bond issued if original document is lost

You are required to submit a application letter along with a indemnity bond, affidavit and form.

Will I get claim if I have lost I lost my LIC policy bond

Yes. Even if you have lost your policy bond you will still receive all the benefits of your policy. There would be additional formalities involved in case of a claim.

LIC policy lost questionnaire format

How can I claim my LIC policy if I have lost my policy bond?

If you want to continue the policy you need to get a duplicate policy bond issued. If you do no wish to continue the policy. i.e. the policy has matured or if you want to surrender the policy. You do not need to get the duplicate bond issued.

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