How to register LIC NEFT Mandate online? | New Provision
LIC had been issuing Cheques for settling insurance claims and also for making maturity/ other benefits payments until 2011.
Since 2012, LIC has made it mandatory for the policy holder to submit ‘NEFT Mandate form’ to receive any type of payments from the insurer.
Until recently, Customers or policy holders can submit the details of their bank accounts to LIC through NEFT Form offline mode only.
Good news! LIC has recently launched an online provision @ customer portal for submitting ‘LIC NEFT Mandate Form’ online.
In case, you are an LIC policy holder and not yet registered your NEFT mandate with LIC, you can now submit the form online. Kindly go through the below procedure..
To submit LIC NEFT Mandate form online, you should have login credentials to access ‘customer portal‘ of LIC. (Click on ‘new user’ to create USER ID. Else, click on Registered user to login.)
LIC Customer Portal
As soon as you login to the customer portal, you will now be prompted with the below message.
“Online NEFT Registration facility is now available to Customer Portal users. To avail the facility, click here.”
LIC Online NEFT Registration
In the next screen, you can select ‘NEFT Registration’ option under ‘Select Service Request’.
Online NEFT Registration @ LIC Customer Portal
Check (tick) the Terms & Conditions option and click on Proceed button.
In the next screen, kindly select the enrolled policy number and click on the proceed button.
The system will generate OTP (One time password) and send it on your registered mobile number and E-mail ID. You need to key-in the OTP and verify.
In the next page (Customer information), you need to enter IFSC Code, Bank Name, Branch Name & address, Account Type, and PAN number. Click on the Save button.
You will see a message – Data saved successfully. Click on Generate Form to download the NEFT form.
Once you generate filled NEFT Mandate form, download it and you now need to place the Cancelled Cheque leaf and copy of PAN in the designated positions.
You then need to scan the form and upload it. Once you upload the document, system will display the success / failure message.
The scanned copy of the document should be in pdf, jpeg, png, gif, bmp, tif or tiff format.
The file size should not exceed 200 KB and file name should not exceed 40 characters.
You can track the ‘NEFT mandate’ registration status at ‘Track Request Status’ link. You will also receive a Message on updation of NEFT Details.
The Bank details provided by you will be used by LIC for any further policy payments under your policy.
This post was last modified on July 12, 2023 5:55 pm
Sreekanth Reddy
Sreekanth is the Man behind ReLakhs.com. He is an Independent Certified Financial Planner (CFP), engaged in blogging & property consultancy for the last 14 years through his firm ReLakhs Financial Services . He is not associated with any Financial product / service provider. The main aim of his blog is to "help investors take informed financial decisions." "Please note that the views given in this Blog/Comments Section/Forum are clarifications meant for reference and guidance of the readers to explore further on the topics/queries raised and take informed decisions. The information provided, therefore, should not be viewed as financial, legal, accounting, tax or investment advice."
already registered NEFT online But upload another file so I want to cancel
Hello Sreekanth, I have submitted the NEFT form , still the request is showing as process initiated . Kindly let me how much time it takes to fulfill the request.
when i try to update the neft details in the new link, it not showing any policies to select to proceed.
I have already enabled the premium services also.
One update from my recent experience:
I already had the NEFT updated for my policies couple of years ago. Recently, i had to close the bank account linked to these policies. The online NEFT from LIC does not allow us to update.
This is for the LIC to provide as an additional online feature.
Hi Sreekanth,
I have given physical copies to the branch long back. Is there anyway I can see the linked bank details in the LIC site.?
I tried providing the details online now but my policy is not showing up in the list . P
Hi,
I have submitted online NEFT registration in August 2020, still the status is open. How long does it take? there is no response from LIC branch office.
Hi Srikanth, it’s been two months that I have submitted my NEFF request and no updates till now. I tried sending an email to home branch, no response.
I have LIC Policies for me and my family members. From the time I opened the policies (1999 onward) I have registered for ECS / Auto payment. Now form last 2 years do not know why some of my premiums are not getting auto paid. LIC portal so bad that because I have auto payment regd they do not allow manual payment. Also, the new online NACH facility is not available for all my polices. The stupid thing is that once penalty is levied on me they allow me online manual payment. Online complaint is not working! All my emails to branch and zonal office are waste of my time. They are not responding to my any communication. Seriously feeling so sad that once this LIC Team was so nice and now they are so worst and useless. If any one knows the way forward to make a fresh NACH or pay premiums remotely to avoid penalties then please help me. I am residing outside India so unable to visit the branch and make all paper works physically.
Dear Bhautik,
Did you take these policies through any intermediary (agent)?
If yes, are you in contact with him/her?
Thank you sreekanth.. i have one policy which is matured in march, will follow the above steps.
Thank you once again.. iam avid reader of your blog..
Dear prashanth..Thank you for your appreciation and being my loyal blog reader!
Hi Srikanth, with the current COVID situation I think your blog on Online NEFT Mandate is of great help. I will try to update the NEFT mandate by the same process;in case of any challenge will reach out to you.
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already registered NEFT online But upload another file so I want to cancel
Hello Sreekanth, I have submitted the NEFT form , still the request is showing as process initiated . Kindly let me how much time it takes to fulfill the request.
when i try to update the neft details in the new link, it not showing any policies to select to proceed.
I have already enabled the premium services also.
One update from my recent experience:
I already had the NEFT updated for my policies couple of years ago. Recently, i had to close the bank account linked to these policies. The online NEFT from LIC does not allow us to update.
This is for the LIC to provide as an additional online feature.
Hi Sreekanth,
I have given physical copies to the branch long back. Is there anyway I can see the linked bank details in the LIC site.?
I tried providing the details online now but my policy is not showing up in the list . P
Hi,
I have submitted online NEFT registration in August 2020, still the status is open. How long does it take? there is no response from LIC branch office.
Hi Srikanth, it’s been two months that I have submitted my NEFF request and no updates till now. I tried sending an email to home branch, no response.
I have LIC Policies for me and my family members. From the time I opened the policies (1999 onward) I have registered for ECS / Auto payment. Now form last 2 years do not know why some of my premiums are not getting auto paid. LIC portal so bad that because I have auto payment regd they do not allow manual payment. Also, the new online NACH facility is not available for all my polices. The stupid thing is that once penalty is levied on me they allow me online manual payment. Online complaint is not working! All my emails to branch and zonal office are waste of my time. They are not responding to my any communication. Seriously feeling so sad that once this LIC Team was so nice and now they are so worst and useless. If any one knows the way forward to make a fresh NACH or pay premiums remotely to avoid penalties then please help me. I am residing outside India so unable to visit the branch and make all paper works physically.
Dear Bhautik,
Did you take these policies through any intermediary (agent)?
If yes, are you in contact with him/her?
Thank you sreekanth.. i have one policy which is matured in march, will follow the above steps.
Thank you once again.. iam avid reader of your blog..
Dear prashanth..Thank you for your appreciation and being my loyal blog reader!
Hi Srikanth, with the current COVID situation I think your blog on Online NEFT Mandate is of great help. I will try to update the NEFT mandate by the same process;in case of any challenge will reach out to you.