Can't invest in LIC IPO next year if PAN-LIC not linked --Here is how to do it online

New Delhi: The mega IPO of Life Insurance Corporation of India (LIC) is all set to be out by the end of the current fiscal, however for policyholders of LIC, it is very important to link it with their respective PAN Card. 

LIC had recently issued a public notice to all the policyholders of LIC of India regarding subscription of the company’s upcoming IPO stating that its upcoming IPO can be subscribed by the policyholders only if their PAN Card is updated in the company's records.

In the interests of our policyholders, LIC said that it has been running advertisements calling upon policyholders to update PAN in LIC records.

The insurance behemoth added that in order to participate in any such public offering, policyholders will need to ensure that their PAN details are updated in the Corporation's records. Further, subscribing to any public offering in India is only possible If you have a valid DEMAT account - accordingly, policyholders should ensure that they have an active DEMAT account in place.

If you have not yet provided this Information to the Corporation, LIC has urged policyholders to do it at the earliest because it is very important from from a KYC perspective, as well as your ability to participate in the proposed public offering by the LIC, as and when it takes place.

Here is the process for updating your PAN details with the LIC online

1. Visit the Corporation website www.licindia.in OR https://licindia.in/Home/Online-PAN-Registration

2. Keep ready your policy number, PAN, date of birth and e-mail ID, which needs to be filled in while updating your PAN.

3. You may update the records for all of your LIC policies using the above link.

4. You can also check whether your PAN Is registered in your policy or not by visiting the Corporation's website www.licindia.in OR https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus?

Alternatively, you may also contact your LIC Agent for assistance.

The LIC, a statutory Corporation constituted under the LIC Act 1956, is a leading life insurer of India wholly owned by the government.

It has three branches outside India - in the UK, Fiji and Mauritius, a wholly-owned subsidiary in Singapore and Joint Ventures in Bahrain, Kenya, Sri Lanka, Nepal, Saudi Arabia, and Bangladesh.

Its subsidiaries in India include LIC Pension Fund Ltd, and LIC Cards Services Ltd.

Its associates include the IDBI Bank Ltd, the LIC Mutual Fund and the LIC Housing Finance Ltd.