| question,answer |
| How do I file a claim?,1. Gather all necessary documents. 2. Contact LIC branch or use the portal. 3. Fill the claim form. 4. Submit required documents. 5. Follow up for status. |
| What is the grace period for LIC policies?,LIC usually offers a grace period of 30 days for most policies. ULIPs may have a 15-day grace period. Check your policy document for specifics. |
| What documents are needed for KYC?,"KYC requires PAN card, Aadhaar card, passport-size photo, and a cancelled cheque or bank passbook copy." |
| What is the commission for a term insurance policy?,"Term plans offer lower first-year commission, typically around 10-20% of premium, with no or low renewal commission." |
| How can I become an LIC agent?,Visit the nearest LIC branch or apply online. Pass the IRDA exam and complete basic training to get your agent code. |
| What types of policies does LIC offer?,"LIC offers Term, Endowment, Money Back, ULIP, Whole Life, and Pension policies tailored for different customer needs." |
| How do I revive a lapsed policy?,You can revive a lapsed policy within 5 years by paying unpaid premiums with interest and submitting a health declaration. |
| What is the renewal process for a policy?,Policies can be renewed online or via LIC branch. Pay the due premium within the grace period to avoid penalties. |
| What is the minimum qualification to become an agent?,You must have passed at least Class 10 (SSC) and be at least 18 years old to qualify for LIC agency. |
| How do I check my commission statement?,"Login to LIC Agent Portal, navigate to the Commission Statement section, and download your report by month or year." |
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