Most of us who belong to the middle class segment of the society live in rented homes. Hence, changing the address from time to time is inevitable. Also, working professionals across the country have to live in different places for the sake of their jobs. This is another reason why changing your address in your policy document may be necessary. It is always advisable to update your correct address in your policy documents since LIC uses it to communicate important details such as premium notices, survival benefits, etc., regarding your policy.
LIC allows alterations in a policy by notifying it through proper channels. Various alterations like change in contact information, reduction in sum assured, alteration in class or term, removal of extra premium, etc., are allowed for LIC policies. The best way to make alterations to your policy is by visiting an official branch of the company. Let’s see in detail on how to proceed with the change of address in your LIC Policy.
One of the key things to note here is that the application to change address can be submitted only in the home branch where you have taken the policy. Even if you have moved to a different state, you cannot simply give this application in the local branch office. The step-by-step process involved in changing the address can be given as follows:
It is worth noting that this entire process could take a while. In most cases, changing the address will not be an immediate process. After submitting the application, the policyholder may have to wait for a few days before the update is done.
Though there is an option for users to update the address in the portal on their own, there is not much use for this. The address updated here will not be used by the company for contacting the policyholder. However, if you feel like you need to update your address here for information purpose, you can simply go ahead and do so. Once you have registered your policy in the LIC website and created an account, updating the address is just a few clicks away. It can be done as follows:
As noted earlier, the address updated in this way can be used only for information purpose. The company will not use this for communication purposes. Any actual change in the policy address can be initiated only by visiting the home branch.
Updating the address is a crucial step to make sure that all the updates from the company are correctly followed. Without the latest address, the company may not be in a position to communicate any important information regarding a policy. If you have any doubts regarding this process, you may also contact LIC’s customer service department to enquire about the process involved in changing your address.
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