How does LIC acknowledge the registered policy details?
• The bank/service provider sends these details to LIC for validation & confirmation of the registration data at pre-determined intervals. • LIC validates the registration data and informs the bank/service provider about the registration status. Since LIC’s database is de-centralized, generally it takes a week’s time for confirmation of registration data. • A consolidated database of registered policies is maintained by LIC. This database is updated at regular intervals on the basis of changes received from the original servicing branches. • LIC also sends auto-mailers to the registered policyholders informing the registration status.
• The bank/service provider sends these details to LIC for validation & confirmation of the registration data at pre-determined intervals. • LIC validates the registration data and informs the bank/service provider about the registration status. Since LIC’s database is de-centralized, generally it takes a week’s time for confirmation of registration data. • A consolidated database of registered policies is maintained by LIC. This database is updated at regular intervals on the basis of changes received from the original servicing branches. • LIC also sends auto-mailers to the registered policyholders informing the registration status.
