The country’s largest insurance company Life Insurance Corporation of India has sent a message to its lakhs of policyholders. In an SMS sent to customers, LIC said, “As per PMLA, PAN is required for cash payments above Rs 50,000.” Therefore, the policyholder should immediately add PAN to his LIC policy.
Simple Way
These days, many important documents are being linked to the PAN card in large numbers. In this episode, LIC has also asked its policyholders to link PAN. LIC says that there are many benefits of linking PAN with the policy. The process of linking PAN card with LIC policy is quite simple. You don’t need to do much in this.
This is how you will get OTP and linking will happen
To link PAN with your policy, you need to log on to www.licindia.in. Then you will be asked for mobile number. You will get OTP on this mobile number. On sharing that OTP, PAN and LIC account will be linked. After submitting the form, a message will appear in front of you. In this message information about the completion of registration will be given. LIC has given 3 steps for this, which will make it easy to link LIC policy with PAN.
PAN details are given along with the list of policies on LIC’s site. Enter your phone number here, on which an OTP will be sent by LIC. Share this sent OTP in the site. After submitting the form, you will get the message ‘Registration successful’. This message tells that your PAN is linked with LIC.
LIC now deposits money directly into the customer’s account. If your amount is more than Rs 50,000, it will be difficult to transfer money if the policy is not linked with the PAN card. So to avoid such trouble, add your policy to PAN today.
