Name Change In LIC Policy – Life Insurance Corporation also known as LIC is the the largest company that gives insurance to people, which helps them manage their lives. It provides people with life insurance, pensions, etc, and has become popular over the years. You can buy LIC policies very easily online as well as offline, and everybody needs to have a life insurance policy, as after your death, there should be someone who can take care of your family as after your death your family will be provided with monthly pensions will be sent to your family, because you never know when your life will come to an end. But there are sometimes that people want to change their name in the policy document due to various reasons, and hopefully, just like name change in various documents, you could also make changes in your policies and follow this article to get to know more about the name change in LIC policy.

Reasons For Change Name In LIC Policy

A person changes their name in LIC due to various reasons, and some of the reasons are mentioned below:-

When a woman gets married, they had to change their name in LIC as they undertook their husband’s last surname.
If you have adopted a child then also you had to change your name.
One of the reasons can also be that when a person has legally changed their name so now they have to make changes in the life insurance corporation of India.
There might be some error in the policyholder’s name, and they have to correct it.

The above are some of the common reasons why people change their name, there can be other reasons, but the above are mentioned to give you a glimpse of name change reasons in LIC policy.

Eligibility Criteria For Name Change In LIC Policy

There are different criteria that you have to follow to become eligible for name change in lic policy, and different policyholders have different situations which have to be come under the below criteria.

If you are holding individually the policy document then you can change your name by submitting your document to the life insurance people. You can start the process through the LIC portal.
If a minor holds a policy, then their parents or legal guardians can change their child’s name by submitting the appropriate documents.
If you have LIC policy in joint accounts then for name change, both the parties have to have consent in name changing and should have proper documents from both the parties.

Documents Required For Name Change In LIC Policy

You have to submit the following documents to change your name in the LIC policy:-

A photocopy of the gazette will be needed for name change in lic policy.
You will also require a photocopy of the advertisement that should be published in the newspaper.
A document of affidavit of name change will also be needed.
If you are a married person, then you have to submit a marriage certificate, and in case of divorce, you will also need a divorce certificate.
A passport-size photo will also be required
You will need identity proof as well as address proof by submitting legal documents like an AADHAR card, PAN card, passport, or any other government documents.
You have to submit a copy of the policy document.

Procedure For Name Change In LIC Policy

There are two ways in which you can change your name in LIC: Online or Offline. These two methods are made for people’s convenience. If you are busy, then you can easily sit at home and change your name, and those who are not that advanced can follow the offline procedure. Below, you will find the steps for both methods.

Offline Procedure

Follow all the steps to change your name in the LIC policy:-

Affidavit For Name Change

For lic policy name change, you have to make an affidavit of name change first from the notary office. Fill out the document and mention your old name, new name, and the reason for the name change, and submit it to the notary office make sure that your affidavit should have the stamp of the office.

Publication In Newspaper

When you have completed the above step, then you have to make two articles in two different languages, one in the regional language and the other in the English language. The information that has to be published in the newspaper is:-

Your old name and a new name
Date when the article has to be published
Address of the applicant
The parent’s name of the applicant
The name of the notary from whom you have submitted the affidavit

You should double-check all the information that has to be printed in the newspaper before submitting in the newspaper.

Publication In The Official Gazette Of India

After publishing your article to the newspaper, you have to publish a deed to the official Gazette of India, and below are the documents that have to be submitted to the Gazette of India.

Hard copy of the affidavit
If you are living outside India, then you will need a deed signed by the embassy for a name change.
Hard copy of the newspaper articles
Two passport-size photos

Online Procedure

This is the easiest and most convenient method, which can be done by sitting at home.

Step 1- Logging to the LIC portal: You have to visit the official website of LIC, make your account there and log in to change your name.

Step 2- Selecting services: When you have a login to the website, search the ‘Policy Service’ option and from there, search the ‘Name Change’ option by selecting change your name.

Step 3- Fill out the form: After this, a form will appear on your screen for name change which you have to fill very carefully, and don’t forget to mention the reason for your name change.

Step 4- Uploading documents: Then you have to submit the documents with the form which is already mentioned in the article.

Step 5- Making Payment: After you have submitted the form with the necessary documents then you have to proceed with the payment, and after that, your name change in the LIC policy procedure will start.

After following the above steps, you can change your name in the LIC policy skillfully and easily.

Apply for name change in LIC Policy

After you have legally changed your name, it is now time to change your name in the LIC policy. Follow the below instructions and make changes to your name in the LIC policy.

The first thing that you have to do is to visit the nearest branch of LIC with the documents that are mentioned above in the article.
Get in contact with the manager and request them for the form request letter or policy service form for a name change, and submit the documents with the form.
In the application form, don’t forget to sign it, mention your correct name, and check the form before submitting it to the manager.
After submitting everything, you will receive a confirmation through courier about the name change.

Important Points To Consider For The Name Change In LIC Policy

When you are changing your name in LIC policy and after making changes to your document, you have to remember the points below:-

You can change your name in the LIC policy from only that branch where you have issued the policy.
Don’t write false information, and make sure all the information is correctly mentioned.
Ensure to make copies of all your documents that you have submitted, and whatever form you submit make copies of it.
If you are having any questions regarding the process or anything, you can contact the customer care of LIC and ask them, as it is better to ask than to follow the wrong procedure.
If you cannot understand the procedure or find it difficult to execute it then it is better to take the guidance of a life insurance advisor.
After you have changed your name then don’t forget to update your KYC details.
The last thing that you have to remember is that pay for your insurance under your new name only and continue the responsibilities of the policyholder.

Changing your name in the LIC policy is an important task that everybody can do easily by following the proper procedure, and you should remember the above points while making changes to your LIC policy.

Fee Charges For Name Change In LIC Policy

First, you have to pay a different amount to the notary office, then to the newspapers, and then to the gazette. After that, you have to pay the LIC branch, which will vary from branch to branch and state to state, as well as the number of policies.

Conclusion

Life Insurance Corporation is the largest insurance company, and it is very important to keep it updated and ensure that all the information contained in your LIC document is correct to avoid any future fights.