LIC Policy Loan Application Form

Download LIC Policy Loan Application Form

You can download the LIC Policy Loan Application Form in PDF Format for free by clicking the direct drive link below this page.

LIC Policy Loan Application Form

A life insurance policy (LIC) offers loan against their insurance policy, which individuals can use for their own personal or commercial needs. The LIC Insurance Policy acts as collateral for the loan taken. Any outstanding loan amount would be deducted from the maturity benefit if the policy matures and the loan is not repaid. A life insurance policy (LIC) is a financial product that provides a lump sum benefit to the beneficiary named in the policy.

The loan amount is given on the basis of the surrender value of the LIC policy. The maximum loan amount that can be availed will be up to 90% of the surrender value. The maximum loan amount is 85% of the surrender value for a paid-up policy.

If you are eligible to take a loan against your LIC policy, you will need to do as follows to borrow a loan: Visit the nearest branch of a bank. Fill-up the loan application form and submit to the lender’s representatives with the required documents. Existing customers of the bank will need to submit minimal documents.

LIC Policy Loan Application Form

LIC Policy Loan Application Form PDF Download Link

Source: licifiji.com

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