Documents Required for LIC Policy

Documents Required for LIC Policy:

• Self-Attested Photograph
• Age Proof: (school certificate, passport, PAN card, driving license)
• Residence proof (ration card, election card, electricity bill, water bill, telephone bill, credit card bill, bank passbook, driving license, rent agreement, passport etc.)
• Photo ID proof (PAN card, D/L. passport, election card, Ration card & bank pass book with the proposers photograph on it)
• Income proof (salary slip, form 16, Income tax returns, pension pass book etc.)(if total Premium Exceeds one lakh)

IRDA now has laid certain guidelines with concern to the documents required for the policy to be insured. The insurance companies have to follow all the requirements of the IRDA regarding the address proofs and identity proofs of the insurer. Unit-linked policies are more in demand because of certain advantages such as flexibility, transparency, simplicity, liquidity and efficiency in fund management. The ULIP markets saw a lot of changes recently which has made them better and more transparent to invest. The documents required are:

• For identity proof:
• Passport
• PAN Card
• Voters Identity Card
• Driving License
• Letter from a recognized public authority or public servant verifying the Identity and residence of the customer
• For address proof:
• Telephone bill
• Bank account statement
• Letter from any recognized public authority

Now days, Insurance Agents are asking for a photo, as most Insurance companies have option to add a photo to your application.

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