LIC encourages customers to link their PAN with policies

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Insurance behemoth Life Insurance Corporation of India has encouraged its customers to link their PAN (permanent account numbers) online with their policies. “Link your PAN to your LIC policies now!” LIC tweeted with the URL link for doing so.

Link your PAN to your LIC policies now! Log on to https://t.co/fA1vgvFfeK pic.twitter.com/cM7i8WI4xw

— LIC India Forever (@LICIndiaForever) September 23, 2021

Customers who wish to link their updated PAN to their LIC policy policies can do so in four simple steps.

Steps

– Keep your PAN number and LIC policies ready; ensure that the registered mobile number is in working condition since an OTP will be sent on the registered number as part of verification

– Users will then have to log on tohttps://licindia.in/Home/Online-PAN-Registrationand fill up a form with details of their policies along with their PAN card details, date of birth, gender, e-mail id, etc.

– Upon entering these details on LIC’s website, you’ll check the declaration box, enter the captcha code and click on ‘Get OTP’’; meanwhile you will get an option to verify your details

– After receiving the OTP, enter the same and submit the form

– If the registration process is successful, you will get a message stating that your PAN card details have now been registered with the LIC.

A crucial part of KYC norms, PAN is a 10-digit alpha-numeric number every individual taxpayer is assigned by the Income-tax Department.

The Insurance Regulatory and Development Authority of India (IRDAI) had made it mandatory to link all life, general and standalone health insurance companies to link the policies with PAN or Form 60.

Interestingly, the policyholders complained on the micro-blogging site that the LIC website was not opening. The URL given on Twitter directed users to linkpan.licindia.in which was not functioning at the time of filing this report.

LIC has been running several awareness drives ahead of its scheduled mega IPO which is scheduled for later this year. One of them is a massive door-to-door high-decibel awareness campaign about investing in stock markets, in which the insurer is likely to press its force of 22.8 lakh agents.