LIC IPO : How to link PAN card for policy holders, how to apply for IPO, details of LIC IPO
Finance minister announced in the budget 2020 that the government is contemplating listing Life Insurance Corporation of India in the secondary markets by 2021. "Policyholder" is a new category added in the LIC IPO and this category will have up to 10% of the issue reserved for the customers who hold policies of LIC, to apply in "Policyholder" category, your PAN has to be updated in the LIC records corrosponding to your lic policy. Here is how you can check and update your PAN in LIC records if you are a policy holder.December 29th, 2021
Life Insurance Corporation of India(LIC)
LIC of India was incorporated on 1st September 1956 by amalgamating 243 Companies by the Act of Parliament called Insurance Act, 1956. LIC is the largest insurance company in India with about 28 crore policies in force equalling a sum assured of Rs. 45 lac crores. The annual premium receivable by LIC was Rs. 2 lac crores in the financial year 2018-19. LIC had investments valued at Rs. 30 lac crores as on March 31st, 2019.
The finance minister announced in the budget 2020 that the government is contemplating listing Life Insurance Corporation of India in the secondary markets by the second 2021. The Cabinet Committee on Economic Affairs approved the IPO in July 2021. The government is planning to raise funds up to Rs 1 lakh crore through this IPO. The listing of LIC is expected in the first or second quarter of 2022-2023.
Benefits for LIC policyholders on LIC IPO
A new category introduced for the LIC IPO called "Policyholder", this category will have up to 10% of the issue reserved for the customers who hold policies of LIC. To be eligible for making an application under the policyholder’s category, you must have;
- Your PAN has to be updated in the LIC records.
- The PAN used for LIC policies has to be the same as that registered with your brocker account.
How to check if PAN is linked with LIC Policy for LIC policy holders?
Ia you are a LIC placeholder, you can check whether PAN is already linked to your LIC policy by:
- Visit PAN availability status in LIC Policy
- Enter your Policy number, Date of Birth, PAN, and captcha in the respective fields and press submit to see your LIC policy and PAN link status.
If your LIC policy is not linked with your PAN, you can follow the below steps to link your PAN with lic policy
How to link PAN with LIC policy?
To update your PAN number in LIC records and link PAN with your LIC policy:
- Visit Link PAN To Your LIC Policies
- Keep your PAN card details, along with the list of policies you hold ready with you, then click on “Proceed” at the bottom of the page.
- Enter your Date of Birth, as per PAN, Gender, Email ID, PAN, Full name as per PAN, Mobile number, Policy Number (In case you hold multiple policies, click on “Add Policy” to enter another policy number)
- Check the declaration checkbox
- Enter the captcha as shown in image.
- Click on the “Get OTP” option.
Once you receive OTP on your registered mobile number, enter the OTP and click on “Submit”.
Once you PAN is linked with your LIC policy, you can apply for LIC ipo from your stock broker account under "Policyholder" category.
LIC IPO details - LIC IPO Notice
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