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After submission of proposal of a life insurance policy, it generally takes about 15 days for the insurance company to send the policy bond.
There is no option to apply online, one has to visit the LIC branch to get a duplicate LIC policy bond.
After submission of proposal of a life insurance policy, it generally takes about 15 days for the insurance company to send the policy bond.
First keep in mind that as of now Surrendering LIC policy is not possible ONLINE. Also, you have to surrender the LIC policy at your servicing LIC branch ONLY. Servicing branch may be the branch where you purchased the policy.
Documents Required For Policy Surrender Original policy bond documents. Request for surrender value payment. LIC Surrender form- form 5074. LIC NEFT form. Bank account details. Original ID proof like Aadhar card, pan card or driving license. A cancelled cheque. Hand-written letter to LIC stating the reason to discontinue.

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a. Click on e-Services, login with your user-id and password. Register your policies for availing the e-services by filling up the form provided. Print the form, sign it and upload the scanned image of the form. Upload the scanned image of PAN Card or Aadhaar Card or Passport.
Legal Ramifications If you don't pay the agreed-upon fee, the bond agent has every right to relinquish responsibility for you. That means they don't have to pay your bail. If bail isn't paid, you go to jail. If you were released before the bond payment occurs, you can go back to jail.
Once you have ensured that the policy has been lost, you need to follow the below procedure to initiate the application for a duplicate policy: Placement of advertisement. ... Submit the Indemnity Bond. ... Fill the loss of policy bond questionnaire. ... Submission of Bond, Questionnaire, and Documents. ... Issue of duplicate bond.
The policy bond is the document that is given to you after we accept your proposal for insurance. The risk coverage commences after acceptance of your proposal and the conditions and privileges of your policy are mentioned in the policy bond.
When you lose your original life insurance policy bond, you must inform your insurer at the earliest. Visit the nearest branch of your insurer and talk to concerned authorities regarding the loss. You need to submit an application mentioning the following details: Your name in full.

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