New Delhi: The country's largest insurance company Life Insurance Corporation of India (LIC) is all set to launch its Initial Public Offering (IPO). Prior to that, LIC has submitted the draft paper of the IPO with the Securities and Exchange Board of India (SEBI). The IPO is expected to hit the capital market in March. According to the draft Red Herring Prospects (DRHP), around Rs 21,539 crore was lying unclaimed with LIC at the end of September 2021.
This amount belongs to crores of policyholders across India, who could not or forgot to make a claim after completion of its policies. There are also many such cases in which after the death of the person who took the policy, the family members forgot to claim their policy. LIC had an unclaimed amount (which was not claimed) in FY19 at Rs 13843.70 crore. In FY20, the amount increased to Rs 16052.65 crore. At the same time, in fy 2021, the amount was Rs 18495.32 crore, which crossed the figure of Rs 21,000 crore by September 2021.
Let us know that the unclaimed fund includes the unclaimed amount as well as the interest associated on it during this time frame. If you are also or were a LIC policyholder, then you can easily find out if you have any money deposited with the company sitting at home. To find out the unclaimed amount in LIC, first of all, click on the https://licindia.in/Bottom-Links/Unclaimed-Policy-Dues. Fill in your LIC policy number, policyholder's name, date of birth and policyholder's PAN here. Then submit. After doing this, the unclaimed amount will come out.
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