LIC ASKED YOU POLICY HOLDERS TO UPDATE BANK ACCOUNT DETAILS, KNOW THE REASON FOR THIS

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LIC, the largest insurance company in Korea, recently submitted a draft IPO document (LIC IPO DRHP) to SEBI. In the draft  IPO, the insurance institution stated that as of September 30, 2021, the outstanding amount was Rs 10 billion. This value is comparable to the finances of several ministries and the required capital of several companies. For this reason, the LIC is now asking coverholders to upgrade their financial institution account information for a less complex reporting process. 
  is your procedure. In any such situation, policyholders will should insure that they provide accurate financial institution information to the coverage organization.
in your account thru NEFT. 
 LIC stated this in its rearmost assertion 
 In its rearmost assertion, the coverage organization has requested its policyholders to modernize their financial institution account information in order that there is no hassle withinside the declare 
 us to settle the declare on time. Please relate in your coverage record for adulthood date or survival benefit. Then touch the department with the information. Provide your financial institution (OIL) with information about your account. The NEFTI order form must be available in all offices. 
 Coverage organizations have stated that OIL information can also  be submitted online. Submit your discharge application and your coverage record next to it. Also set up KYC and update your home address, smartphone/mobile number, caller ID and more. 
 Bank also has unclaimed money. Along with the 
 LIC, the bank also has Rs crore unclaimed. There are also billions of rupees involved in financing inventory requests without heirs.

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