Loan On LIC Policy: LIC is a big name trusted by the people in India, it has lakhs and crores of policy holders, but no matter who the policy holder is, anyone can need money at any time. The country’s oldest and largest insurance company has also brought a loan scheme keeping in mind the needs of the customers. LIC offers many insurance policies to its investors. Let us know how you can take a loan against your LIC policy…

Many times in life there is a sudden need for money. The biggest advantage for you in such an emergency is that you can take a loan against your insurance policy very easily. This is a personal loan which can be used for hospital expenses, marriage, construction of a house etc.

This is how you will get loan on LIC policy

The money given to you as a loan on LIC policy is actually a secured loan. If a person is unable to pay the money, the loan amount is taken from him when the policy matures. In this the policy bond is kept as a guarantee.

Go to e-services and see (Loan On LIC Policy)

If you are also planning to take a loan against your policy, then let us tell you that you can go to LIC’s website and go to e-services to see how much loan you can get against the policy.

Loan up to 85 percent of the policy will be available

Talking about the rules of LIC, the investor can get a large part of the policy value as loan amount. You can take a loan up to 85 percent of your policy. But remember that it is very important to deposit premium on the policy for a minimum period of 3 years. If the premium is paid for less than 3 years then you will not get the loan.

Take it both online and offline

If you have made up your mind to take a loan against the policy, then you can avail it by applying both online and offline. If you want to apply online, then for this you will have to go to LIC’s e-services. Here you will have to login to your account.

After applying for your loan, you will have to upload KYC documents. These documents will also have to be sent to the LIC office. And the approval of your loan will come within a few days.