How to Claim LIC Maturity Amount
Your LIC policy has matured — congratulations! Here's a simple step-by-step guide to claim your maturity amount quickly and without hassle.
Step 1: LIC Sends Reminder
About 1-2 months before maturity, LIC sends a maturity intimation letter (also email/SMS if registered). This contains the estimated maturity amount and list of documents required.
Step 2: Documents Required
- Original policy bond/document
- Identity proof (Aadhaar/PAN)
- Bank account details (passbook or cancelled cheque)
- NEFT form (for direct bank transfer)
- Discharge voucher (sent by LIC with intimation)
Step 3: Submit at LIC Branch
Visit your home branch (the branch that issued the policy). Submit all documents. Request direct NEFT transfer to your bank account — much faster than cheque.
Processing Time
- NEFT transfer: 3-5 working days after document submission
- Cheque: 7-10 working days
No Original Bond?
Apply for duplicate policy bond at LIC branch with indemnity bond and newspaper publication of lost policy. Allow 30-45 days extra.
Tax on Maturity
Under 10(10D): If SA ≥ 10× annual premium, maturity is tax-free. This applies to most standard LIC policies. You don't need to show it in ITR as income.
Tip: Verify Maturity Amount First
Use our LIC Maturity Calculator to estimate your maturity amount before visiting the branch — helps you verify LIC's calculation is correct.
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