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Loan Against LIC Policy.

Loan against LIC policy

Loan Against LIC Policy

Secured loan against LIC policy

You can take a loan against LIC insurance policies, if you have any. Loan against LIC policy is a secured loan with low interest rates. Usually, the rate of interest will be 10% payable on a half yearly basis. The amount of loan you are eligible for depends on the surrender value of your policy. So, you may get fewer amounts if you apply for a loan in the initial years of your policy.

Your credit history doesn’t matter to get a loan against your LIC insurance policy. So, even if you have a bad credit history or a low credit score, you can still get the loan.

Process to apply for a loan against LIC policy:

You need to complete a loan request form to apply for a loan against your LIC policy. You can get this document either from LIC website or you can call the customer care to get the document.
Once you get the document, you need to fill it up and take your agent’s signature on it. Then,submit the duly filled form along with your original LIC policy bond document at your LIC policy branch office to process the loan .

Applying for a loan against your insurance policy will hardly take 20-30 minutes if there is no crowd in the office. Otherwise, it may take some time.

Once you apply for the loan, your loan amount will be credited to your bank account on the 3rd working day from the date of application.




Things to consider before applying for a loan against LIC policy:

  • You are eligible to get a loan against your LIC policy only after completion of 3 years, from the start date of your policy.
  • Maximum amount you can borrow against your LIC policy is 50-60% of the premium(s) amount you already paid.
  • Interest will be charged at the rate of 10% per annum (approximately) for the loan against your LIC policy.
  • You have to pay the interest amount for every 6 months
  • You need to surrender your original LIC policy bond
  • There is no strict rule to pay the principal amount. As long as you pay the interest amount on time, you don’t need to pay the principal amount till you claim the policy value.
  • In case of claiming the policy amount/end of maturity period, there is no need to worry. Life Insurance Corporation will deduct your loan amount and give the rest of the amount to you or your family.







Responses (602)

  1. vikash prajapati
    August 15, 2017 at 8:50 am · Reply

    if I will take loan from lic of rs 70,000/- and I will repayment in 1 months what will be the interest?

    • Pradeep Daram
      October 26, 2017 at 6:47 am · Reply

      You can just calculate based on the current interest rate in LIC for loan. As per 10% p.a interest rate, it will be around 600 rupees, i guess.

  2. Priya
    August 8, 2017 at 1:59 pm · Reply

    I have a Jeevan Anand and Jeevan Saral policy. premiums are being paid on time but I am not able to pay the Interest for the Loan taken again both the policies for the last 2 years..Kindly advice what will happen to my policies

    • Pradeep Daram
      October 26, 2017 at 6:51 am · Reply

      Hi Priya,nothing will happen to your insurance as long as you pay premiums on time. If you r not paying only interest amount for the loan taken on time, they will fine you with higher amount. As per the information i have, if you don’t pay interest amount on time, they will charge you same amount interest ( interest on interest ) on interest amount. Feel free to get back to me if you need more clarity on this.

  3. Venkatesh
    June 28, 2017 at 5:28 am · Reply

    Hello Sir I am taking Loan against LIC Endowment Plan -14 now I want to Close the Loan. Can I take a Loan Immediately ? My Loan amount given for same Or Extra Amount Given ?

    Ex : Last Time Take 13000 , Now the Company Given 20000?

  4. Rohita Fondekar
    June 15, 2017 at 11:24 am · Reply

    i want loan against money back policy? can i get?

    • Pradeep Daram
      October 26, 2017 at 7:00 am · Reply

      HI Rohita, u will not get loan against your money back policy

  5. Rupam
    June 6, 2017 at 6:59 am · Reply

    Can I get ‘Home Loan’ from LIC and ‘Personal Loan against Policy’ from LIC at the same time?

  6. Swapnil
    May 26, 2017 at 11:15 am · Reply

    I have taken a New Jeevan Anand policy on 23rd July 2014, paying it on Monthly Basis. 3 years of payment completes on 23rd June 2017, Can I apply for the loan immediately after April 23rd or Should I wait for May 23rd.

    I am paying Rs. 1235 monthly, could you please tell me how much will i get loan

    Please Clarify..

  7. jaiprakash
    May 25, 2017 at 5:35 am · Reply

    Hii I have Four policies for the amount 2376*3(Jeevan Saral) & 3264*1(New Bima Gold) and have completed three years, so please tell me what the amount i can get as load

  8. Swapnil
    May 20, 2017 at 11:54 am · Reply

    I have taken a New Jeevan Anand policy on 23rd July 2014, paying it on Monthly Basis. 3 years of payment completes on 23rd June 2017, Can I apply for the loan immediately after June 23rd or Should I wait for July 23rd.

    I am paying Rs. 1235/- Monthly, could you please tell me how much loan get on it

  9. Ganesh
    May 2, 2017 at 3:13 pm · Reply

    Dear sir,

    I have taken the policy of Jeevan Anand in 2008 and Paid annual Premium of Rs.24275/- – (Sum Assured- 300000/- ) let me know the approximate max loan amount i will get?

    Thanks
    Ganesh

  10. kumar
    April 21, 2017 at 7:11 am · Reply

    Hi Pradeep,

    Very nice blog. Really appreciate your efforts on solving queries of so many people.

    Like others, i also have one query..

    I have a Jeevan Anand Policy which gets matured in 2017 June .should i eligible for Loan

  11. Ashok
    March 28, 2017 at 12:27 pm · Reply

    I have taken a New Endowment policy on 15th May 2014, paying it on Monthly Basis. 3 years of payment completes on 15th April 2017, Can I apply for the loan immediately after April 15th or Should I wait for May 15th.

    Please Clarify..

  12. Sharan
    March 21, 2017 at 9:51 am · Reply

    Hello Sir!!

    Appriciate your prompt response!!!

    Thank you very much!

  13. Sharan
    March 21, 2017 at 8:04 am · Reply

    Dear Sir,

    I have applied for new Jeevan Anand policy 2 days ago, Agent had given me a slip but I did not get any original bond!

    Do I get any original bond?? If so, from whom I should collect it??

    And please let me know, after how many days I can apply for a loan?

    • Pradeep Daram
      March 21, 2017 at 8:53 am · Reply

      Hi Sharan,

      It will take 2-3 weeks time to get your original bond which will be posted to your mentioned communication address.

      You will have to wait for 3 yrs to apply for the loan against your lic policy.

  14. tej
    March 14, 2017 at 7:49 am · Reply

    good Job and Informative blog

  15. Channa
    February 21, 2017 at 10:15 am · Reply

    Hello,
    i took Jeevan Anand Policy on 2008 and Yearly policy which i have paid 27,744.00rs till date, please let me know how much amount will get as a Loan, premium tenure is till 2023

    thanks,
    Channa

  16. Channa
    February 21, 2017 at 10:14 am · Reply

    Hello,
    i took Jeevan Anand Policy on 2018 and Yearly policy which i have paid 27,744.00rs till date, please let me know how much amount will get as a Loan, premium tenure is till 2023

    thanks,
    Channa

    • Pradeep Daram
      March 20, 2017 at 8:57 am · Reply

      You can get nearly 80% of the premium you have paid.

  17. Ankush Nalawade
    February 17, 2017 at 6:52 am · Reply

    i Paid yearly 8400, completed 3 years, can i get lone on my LIC Policy

    • Pradeep Daram
      March 20, 2017 at 8:57 am · Reply

      Yes. you can get loan against your lic policy.

  18. Umesh Pawar
    February 10, 2017 at 11:34 am · Reply

    Hello sir,

    I am having 3 LIC policies and all are 5 years old, I have taken a loan on them and now I want to Paid-Up all 3 of them.
    So, kindly suggest whether I can do so?

    • Pradeep Daram
      February 14, 2017 at 9:33 am · Reply

      For interest payment, you can do it in any LIC branch

  19. Frank
    February 2, 2017 at 4:44 am · Reply

    Hello, Do we get any tax benefits on payment of interest on loan against LIC policy/bond?

  20. Bijon Dey
    January 30, 2017 at 2:49 pm · Reply

    How many maximum days take time to credit loan amount in bank

    • Pradeep Daram
      February 14, 2017 at 9:36 am · Reply

      3-5 working days to get the loan amount credited in your account.

  21. sree
    January 12, 2017 at 4:06 pm · Reply

    Hi,

    I have taken new money back plan 20 years, I am paying past 2 years, 18000 quartely. Is it possible to chnage the premium amount or policy after completing 3 years.

    • Pradeep Daram
      January 14, 2017 at 9:03 am · Reply

      Yes, it is possible in most of the cases. They will adjust paid premium amount amount according to the new plan you choose. Most of the agents may not have proper information on this. So, its better to visit the nearby LIC branch in-person or call the customer care service. I would suggest you to visit the nearest LIC branch.

  22. Pravin
    January 10, 2017 at 7:20 pm · Reply

    Policy Type: Jeevan Anand
    Sum Assured: 10 Lac
    Yearly Premium: 32000
    Total number of Premiums paid: 6

    How much am I eligible for ?

  23. satya
    January 8, 2017 at 5:16 am · Reply

    Sit, i want to pay my lic loan interest….can i pay it from online?…..and can i use any other branch to pay off the interest?

    • Pradeep Daram
      January 14, 2017 at 8:59 am · Reply

      Its NOT possible pay interest amount through online. But yes, it is possible to pay at any LIC branch.

  24. Srinath
    January 6, 2017 at 1:29 pm · Reply

    Hi, I have taken loan on my LIC policy in a branch which i hold policy with and its in different district. I am paying interest every 6 months in my place and they dont accept the payment of principal amount in this place, they say need to go to the same branch where i hold policy and took loan.

    Is there a way to pay the principal of the loan online?

    • Pradeep Daram
      January 7, 2017 at 4:29 pm · Reply

      No. The reason for paying principal at the same branch is that, they have to return your original policy document which they took as pledge.

  25. Vinod Nipurte
    January 6, 2017 at 6:51 am · Reply

    Hi Pradip,

    Very nice blog. Really appreciate your efforts on solving queries of so many people.

    Like others, i also have one query..

    I have taken a LIC Jivan Saral policy no 883422497 dated 10/11/2009 for 2552 Monthly Installment. Table -165 & term is 35 Years, Sum assured is 6,25,000/-

    Somehow i feel my above investment is not that lucrative compare to the new policies available in the market now.

    So i want to handover this policy to LIC.

    May i know how much money i will get back and what will be the Loyalty bonus i will get?

    Please response as my LIC agent is not able to give me a satisfying answer.

    Thanks very much and wish you a very happy new year.

    • Pradeep Daram
      January 7, 2017 at 4:32 pm · Reply

      Thanks for your kind words Vinod.

      First, you will not get loyalty bonus amount if you withdraw your policy before maturity. And, if you want to know the amount you can get if you surrender your policy, only LIC customer support can help you more precisely. It won’t take much time. It hardly takes 3-5 minutes wait time.

  26. Ishani
    December 31, 2016 at 7:19 pm · Reply

    Hi
    I had taken loan on my LIC policy which i repaid but i didnt get my policy document back…Pls help me

    • Pradeep Daram
      January 1, 2017 at 2:41 am · Reply

      Contact your branch where you submitted your LIC policy document. They are supposed to return your policy bond after you clear your principal amount.

  27. amaresh mandal
    December 26, 2016 at 11:36 am · Reply

    Hi
    I am mandal i took LIC Policy decembar 2013
    the payment is for yearly and the amount is Rs.18850.

    My policy no- 457076357
    So how many % amount eligible to take Loan against LIC Policy??? Kindly help sir…….

    • Pradeep Daram
      December 27, 2016 at 12:45 pm · Reply

      I don’t know which policy type you hold on. It varies from policy type to type.

  28. Avinash
    December 20, 2016 at 12:37 pm · Reply

    Hi Pradeep ,

    I have been paying premium of about 6115 every year since 2002 and its 16 years policy.
    I don’t actually know what policy it is.It would end in march 2018. And i want to take loan against the policy.

    My Policy No:644926317
    Can you please let me know of the loan amount i would get if i apply for loan.

    • Pradeep Daram
      December 20, 2016 at 2:07 pm · Reply

      Your policy name will be there on your policy bond. Just cross check.

  29. GAJENDER RANA
    December 13, 2016 at 5:40 am · Reply

    Hi Pradeep ,

    Sum Assured :1500000
    I pay 66739 every yearly …
    I will complete my 3 year tenure by 17 th DEC2016

    I would like to avail loan , Could you please tell me what is the maximum loan that I can avail ?

    Thanks
    GAJENDER RANA

  30. Arun
    December 12, 2016 at 8:18 am · Reply

    Hello Sir,
    I took Loan on my LIC Policy just before a month.

    1) Is it possible to pay part of my loan amount as prepayment.
    2) Will my interest rate go down if I pay part payment and is there any fine on pre payment?
    3) If not pay via online the loan and it interest, Can I pay at any LIC brance both loan and loan interest.
    I took it in tamilnadu and now I am in bangalore, so can I pay it in bangalore.

    Thanks,
    Arun

    • Pradeep Daram
      December 12, 2016 at 2:09 pm · Reply

      Yes, you can pay interest amount in any LIC branch. But, for principal payment, you must visit the branch where you submitted your bond.

  31. John Joel
    December 5, 2016 at 1:09 pm · Reply

    Hi Pradeep ,
    Policy No 617284059
    Sum Assured : 12,00,000
    I pay 32500 every half yearly …
    I will complete my 3 year tenure by 9th Jan 2017

    I would like to avail loan , Could you please tell me what is the maximum loan that I can avail ?

    Thanks
    John Joel

    • Pradeep Daram
      December 11, 2016 at 9:05 am · Reply

      At this stage you can get maximum of 80k-990k loan.

  32. Varun
    December 2, 2016 at 5:37 am · Reply

    HI…

    I have a Jeevan aanad Policy from 2013 I already aviled 83,000/-loan and i want more loan
    i have paid 92,000 per year for 3 yrs. and my agent is not available he left LIC.

    can i get more loan?

    • Pradeep Daram
      December 11, 2016 at 9:20 am · Reply

      Yes. If you visit your LIC branch they will let you know the procedure. You don’t need your agent to get it processed.

  33. praveen
    November 25, 2016 at 6:00 am · Reply

    Sir, i have taken a loan against my policy, and i m paying interest halfyeary as per rule, please let me know whether i can avail tax rebate for the amount i am paying as interest

    regards

  34. Abhay
    November 2, 2016 at 9:25 pm · Reply

    Hello Pradeep,
    I wish to avail Lian on my policy but don’t have the Original policy Bond which I took 16 years back. I understand applying for duplicate copy is a long process. So is there any way I can apply without the Original policy bond? Thanks in advance. Regards.

    • Pradeep Daram
      December 11, 2016 at 3:51 pm · Reply

      No. Not possible. You must have original bond paper to apply for loan.

  35. Raj
    October 26, 2016 at 12:26 pm · Reply

    Hi

    I have taken loan on my LIC policy and stop paying the premiums now.

    So will i get the insurance covered till my policy agreement date.

    • Pradeep Daram
      December 11, 2016 at 3:53 pm · Reply

      No. If your policy gets lapsed, you may not get.

  36. nilay
    October 21, 2016 at 4:42 pm · Reply

    hi pradeep,

    i already had taken a loan of 100000 on my LIC jivan saral policy. Now a need to take a loan of 90000 more on same policy. I am eligible for that. Do i need to repay earlier loan or i need not to pay? please guide

    • Pradeep Daram
      December 11, 2016 at 3:54 pm · Reply

      Its not possible to take another loan.

  37. N.C.Das
    October 16, 2016 at 8:35 pm · Reply

    Sir,i have taken a loan of 56000 against my Lic bond paper on year 2014. Due to my financial problem it is not possible for me to pay interest in time. Can I pay total interest now in any Lic branch.

  38. Bala
    October 6, 2016 at 6:29 am · Reply

    I have collateralize my LIC policy bond in a private finance company.I have cleared all my dues and got my Policy back. Was there any other letter to be needed to claim my LIC amount.

  39. Goutam kumar
    September 22, 2016 at 7:18 pm · Reply

    Hello sir, i am goutam kumar a paramilitary person i purchased jivan saral 165 in april 2013
    my age-24 years
    my qtrly premium is 6187
    sum assured is 500000
    policy term is 21 years
    please intimate about maturity of this policy

    • Pradeep Daram
      September 26, 2016 at 5:02 pm · Reply

      You only mentioned its 21 years. So, just calculate it from the date of purchase of your policy.

  40. Prashant
    September 22, 2016 at 6:16 am · Reply

    Hi Pradeep,
    Nice Blog. I want some info.

    i have New jeevan anand LIC policy from Apr 2014. Till now 5 premium paid of 22800/- half yearly. Sum assured of 10 LAC.

    From start date i have complete 3 years.
    May i get loan? and how much loan i can get?

    • Pradeep Daram
      September 26, 2016 at 5:01 pm · Reply

      Yes. you are eligible to get the loan against your LIC policy.

  41. Bharat Thakor
    September 21, 2016 at 6:02 am · Reply

    Sir,

    I have taken loan of Rs. 48000/- and my interest amount due in September 2016 so please guide me how to pay my interest amount via online or send me online payment link.
    please guide me.

    • Pradeep Daram
      September 26, 2016 at 5:03 pm · Reply

      Its not possible to pay LIC loan interest amount through online. But, you can pay it at any LIC branch.

  42. Mrs.Sharad
    September 20, 2016 at 6:07 am · Reply

    Hi
    What if i have already drawn and availed a loan on my LIC policy and have not been able to pay the interest due to personal circumstances what will happen? Will the amount get adjusted with the premium paid already in this policy ? And if i get funds to pay the premium next month onwards, will i still be able to revive my policy once i go to the branch? Do help clarifying.

    • Pradeep Daram
      September 26, 2016 at 5:05 pm · Reply

      No. Loan is different from your LIC policy. LIC policy just acts as a collateral to grant you loan. If you don’t pay your loan/interest amount, it will be adjusted against your maturity amount when it gets matured.

  43. Shazia
    September 19, 2016 at 11:01 am · Reply

    Dear Pradeep Sir,

    I have taken Jeevan Anand Policy in Jul 2011 and paying premium amount of Rs.15429 yearly. Now I wanna take loan against it. Please tell me how much amount would I get?

    • Pradeep Daram
      September 26, 2016 at 5:06 pm · Reply

      You might around approximate around 30,000-40,000 rupees loan based on your premium. It better you call to LIC customer care to get full clarity.

  44. Rahul
    September 14, 2016 at 5:19 am · Reply

    Hi,

    I have “Jeevan anand” policy and its completing three years in November 2016.

    Yearly preminum-39520/-
    Sum assured – 750000/-

    Can i apply for loan. If yes, How much amount will i get?

    • Pradeep Daram
      September 26, 2016 at 5:09 pm · Reply

      You can apply for loan after paying the complete 3rd year premium.

  45. Maverick
    September 13, 2016 at 5:51 pm · Reply

    Hi Pradeep

    I am serving in Army and have a Jeevan Anand (T no 149) for a sum assured for 25 Lakhs and premium paying term for 26 years. I am paying premium of Rs 93815/- yearly since 2009. I will be obliged if you can clarify my following anomalies:

    1. Will Army personnel who dies fighting in counter terrorist operation get full LIC benefit as in death occurred due to accident or natural, because as per the terms, the Insured person will not get benefit if death occur in riots, war etc.

    2. If I surrender my policy what is the return value? The vested bonus is approx Rs 7 lakhs and I have paid premium worth 7.5 lakhs.

    3. How much money can I get for loan? Since the premium is paid through Providend Fund directly. Can the loan interest be also paid through Providend Fund.

    4. Please acknowledge. Thanking you in anticipation.

    • Pradeep Daram
      December 11, 2016 at 4:00 pm · Reply

      Below are the points for your questions.

      1. Yes, army personnel can get the benefits as per my understanding. Because, agent must have mentioned it in the document while filling the application.
      2. Vested bonus is nothing to do with your surrender value. Surrender value will be much lower than vested bonus. You will get vested bonus only when your policy gets matured.
      3. You may get approximately 3 Lakhs loan. Yes, you are eligible to get the loan irrespective of how your payment mode will be.
      4. Happy to serve Army guys as much as I can 🙂

  46. Dhaval ShaRma
    September 12, 2016 at 2:20 pm · Reply

    Hi Pradeep,
    Thanks for writing such an informative blog.
    I have a query about my Jeeven Anand Policy taken in 2003.
    It will be matured in 2023.
    I am confused between surrendering my policy or taking a loan against my policy.
    Kindly suggest me what should I do.
    Thanks

    • Pradeep Daram
      September 26, 2016 at 5:11 pm · Reply

      Since you already completed morethan 50% of the policy tenure, its better to keep it instead of surrendering. It the amount of returns are pinching you, you better take a loan from it and invest the same in some thing like mutual funds,etc. Just to earn more returns than you actually pay.

  47. shilpa kadam
    September 12, 2016 at 12:27 pm · Reply

    Hello Dear Pradeep Sir,

    I have gone through your blog..kindly confirm how much loan amount i will get on my below policy.

    Policy Name: Jivan Saral
    Monthly Premium : 1000/-
    Years Completed : 4.5

    Kindly do the needful

    Reg..Shilpa

    • Pradeep Daram
      December 11, 2016 at 4:02 pm · Reply

      Hi Shipla,

      You may get loan maximum of 20-30k if I am not wrong. Jivan Saral policy is not a good policy as per my analysis.

  48. Kumar
    September 12, 2016 at 2:02 am · Reply

    I have LIC policy and I hav lost the original Document and I would like to with draw it immediately. What would be the process?

  49. David
    September 7, 2016 at 10:50 am · Reply

    Dear Pradeep,

    Here are my policy details:

    Plan: Jeevan Anand (149)

    Policy Term: 87

    Premium Paying Term: 20

    Commencement Term: 13/08/2007

    Installment Premium: Rs.7263 every quarter

    How much loan can I get? Or is it better that I surrender it?

    Which would give me more money?

    Thanks
    David

    • Pradeep Daram
      September 26, 2016 at 5:13 pm · Reply

      Its better to take a loan instead of surrendering your policy now.

  50. KASTURI
    August 31, 2016 at 10:46 am · Reply

    i have taken loan on my policy long back. i need some more money on the same. should i go to the same branch? it is too far for me.

    • Pradeep Daram
      December 11, 2016 at 4:05 pm · Reply

      Hi Kasturi,
      One thing you can do is, first change your branch to your nearest branch. After that, it will be easy for you. Yes, you can take some more money as a loan if the eligibility is there.

  51. K.Velmourougane
    August 29, 2016 at 10:10 am · Reply

    Dear Sir,

    Can I pay the LIC loan online?

  52. K.Velmourougane
    August 20, 2016 at 7:31 am · Reply

    Hi Pradeep,

    Compliments for your service on LIC matters.

    I have taken loan from LIC on my policies, as per your above answers, i understood we cant pay loan interest online. Can i repay the entire loan amount online. I am in Delhi and i took loan from LIC, Nagpur.

    with regards

    Velu

    • Pradeep Daram
      December 11, 2016 at 4:06 pm · Reply

      No. Its not possible to pay loan amount through online.

  53. priyanka
    August 5, 2016 at 9:36 am · Reply

    hi sir we had takrn a loan for policy they said it will transfer in 8days but now is 15 days gone we did not get the money can u tell me how long it will take

    • Pradeep Daram
      December 11, 2016 at 4:08 pm · Reply

      It should not take morethan 3-4 work days .

  54. dhana
    July 26, 2016 at 12:44 pm · Reply

    i need to pay my interest against the LIC loan , please guide

  55. Nagaraj.S
    July 20, 2016 at 2:41 pm · Reply

    Hi Pradeep,

    Nice Website.
    I have an Insurance policy with LIC. Now i am in urgent need of money. Please tell me how much that i can get loan, my policy details are mentioned below.

    Premium Rs.7400 Per year
    Year of Commencement : 2003
    Year of Completion : 2028
    Completed years : 13 (Upto 2016)
    Sum Assured : 2 Lakhs

    • Pradeep Daram
      July 24, 2016 at 5:32 pm · Reply

      You can get nearly 80% of the premium you paid so far. So, calculate accordingly.

  56. Joby joseph
    July 13, 2016 at 2:07 pm · Reply

    I have money back policy.
    i am paying premium Rs.12742 per year
    i have completed 7 years of policy.
    How much i will get the loan.
    and what will be intrest for loan against policy

    • Pradeep Daram
      July 19, 2016 at 5:24 am · Reply

      No loan will be given for money back policies. Usually, loan will be available only for endowment policies.

  57. Sunil
    June 29, 2016 at 5:31 am · Reply

    Pradeep sir
    If I pay interest regularly, only loan amount will be deducted from my assured amt after maturity.
    That means lic will pay interest on my loan. What is the least interest rate paid by lic
    Please guide

    • Pradeep Daram
      June 29, 2016 at 9:42 am · Reply

      LIC will not pay you any interest. Its the principal amount which will be deducted from the assure amount.

  58. Chirag Kamdar
    June 27, 2016 at 10:51 am · Reply

    Hi Pradeep,

    I have Jeevan Anand, Jeevan Saral & The Whole Life Policy – Limited Payment Policies on my & my wfie’s name. Atleast 5 years of premium is paid.

    Total premium paid is: 153247/-

    Please advise if loan is possible on all three policies, and how much amount can I expect.

    • Pradeep Daram
      June 29, 2016 at 9:43 am · Reply

      I am sure about Jeevan anand policy and Jeevan saral policy. you can get the loan. But, I am not sure about whole life policy.

  59. Soumya Venugopalan Nair
    June 25, 2016 at 5:11 am · Reply

    HI,

    I am having Jeevan Anand Policy since 2012.
    S.A : Rs. 200000
    Maturity: 2028

    I am paying my premiums regularly on qtly basis.

    Please advise I am eligible for how much amount of loan ? how long will I have to pay interest ?

    Thanks

    • Pradeep Daram
      June 29, 2016 at 9:44 am · Reply

      Yes, you are eligible for loan against your policy. Interest rate will be 10% per annum as per my knowledge.

  60. Shashidhar
    June 23, 2016 at 9:39 am · Reply

    Greeting for the day Mr Pradeep.

    I would like to avail a loan against my LIC policy named ‘ Jeevan Chhaya’, a child endowment policy.
    Below mentioned are the policy details:

    Sum assured: INR 10,00,000
    Policy term :19
    Premium: INR 57,539 (payable yearly)
    policy commencement date: October 2010
    Premiums paid so far: 6
    Age at commencement: 31

    My concerns are:
    1. Can I avail a loan on my policy ( I am currently an NRI, holding an Indian citizenship so far)
    2. If I am eligible for availing loan, do I need to be present in India physically to apply
    3. How much I may get as loan amount
    4. What would be the procedure to apply

    I would be grateful if you could guide me in this regard.
    Your time and expertise would be greatly appreciated here.

    Thanks&regards,
    Shashidhar

    • Pradeep Daram
      June 29, 2016 at 9:48 am · Reply

      Loan on this policy is available. Yes, you need to present in person also in the branch from which you took the policy. Remember that, loan will be given based on the premium amount paid..not on the assured amount. 🙂

      • Shashidhar
        July 5, 2016 at 3:11 pm · Reply

        Thanks for your reply Mr. Pradeep. It’s helpful 🙂

  61. BISWANATH BHOWMICK
    June 22, 2016 at 7:12 am · Reply

    I have a LIC policy. I have paid total 2 lacks against this policy. Maturity date is 2033. What is the max amount I can get as loan against this policy and what would be the interest and tenure.
    What is the procedure to apply for a loan. What are the required docs I need to submit to apply for a loan. Please reply me.

  62. Monesh
    June 20, 2016 at 4:11 am · Reply

    Hi Pradeep,

    I do not find any option to pay my loan interest on https://customer.onlinelic.in. Please advise how to proceed with my payment.

    • Pradeep Daram
      June 29, 2016 at 9:50 am · Reply

      No. Its not possible to pay interest amount through online. To pay your loan interest against the policy has to be done at the branch only.

  63. sriram saran
    June 17, 2016 at 9:45 am · Reply

    Hi Pradeep,

    Request you kindly give me your number, i have couple of questions to ask you.

    • Pradeep Daram
      June 29, 2016 at 9:50 am · Reply

      Please let me know what you need? I can’t share my number. Sorry 🙁

  64. Reddy
    June 15, 2016 at 6:26 am · Reply

    Hi,

    I would like to pay my loan interest how will i pay by online pls let know .

  65. omkar
    May 21, 2016 at 7:02 pm · Reply

    I just want to know is the 10% interest is for year or for six months? ( 20% of year?)

    • Pradeep Daram
      June 29, 2016 at 9:58 am · Reply

      Its for year. 10% interest per year. But, you need to pay interest amount for every 6 months ( the interest amount calculated for 6 months at the rate of 10% per ANNUM ).

  66. Kala
    January 1, 2016 at 6:05 pm · Reply

    I’ve taken a loan on my lic and have nt paid the interest amount. What will happen to my mney. I am still paying my premiums but can’t afford to pay the interest. My lic will mature in 2017. Pls advise.

    • Pradeep Daram
      January 6, 2016 at 10:26 am · Reply

      Nothing will happen. When your policy gets matured, LIC will deduct the interest amount and give you the rest.

  67. alok b
    December 29, 2015 at 10:19 am · Reply

    I am paying 31500 yearly from 2006 .how much loan i will get on my lic endowment policies

    • Pradeep Daram
      January 6, 2016 at 10:11 am · Reply

      It depends on the policy. Which policy you have?

  68. yogesh
    December 20, 2015 at 12:14 am · Reply

    Hi Pradeep

    i have couple of Jeevan anand LIC policy for some assured over 40 lac ,i have paid over 8 premium annually, i am now residing in canada and will be taking the citizenship of Canada next year .

    i wanted to know if i can still continue to hold the policy ?if NO what would be the status of my policy and should i withdrew my policy before i take up citizenship ?

    Regards
    Yogesh

  69. Vijay
    December 17, 2015 at 3:52 pm · Reply

    Sir,
    I have raised a loan on my LIC policy one year back. I am paying it back in interest and principal. earlier I was saving in PPF but due to this repayment of loan to LIC I am not able to do any tex saving this year.

    My question is “whatever I am paying to LIC as repayment of loan, can I claim tex rebate for that?”

    • Pradeep Daram
      January 6, 2016 at 10:04 am · Reply

      No. Interest amount can’t be claimed for tax benefits.

  70. Suda
    December 13, 2015 at 3:23 pm · Reply

    if i want to take loan in bank against LIC policies. i need to take permission from LIC or directly can i approach the bank…please tell me the procedure.

    • Pradeep Daram
      December 13, 2015 at 4:49 pm · Reply

      You don’t need to goto any bank. Just directly goto LIC branch. They will only give you the loan. If you still want to go for loan in other banks, you can. You don’t need any permission from LIC.

  71. Jaspal singla
    December 5, 2015 at 8:53 am · Reply

    Hello Pradeep Ji,

    I have gone through your blog and really convinced the kind of response you have been posting in very prompt manner.

    I’d have also a query and would like to ask, I hope you would advise and help me on that.

    I have taken Jeevan Saral Policy in June 2010 and have been paying regular premium till date and hopefully will be paying rest of the premium on regular basis as well.

    My details are as:

    Sum Assures: 2200000,
    Plan: Jeevan Saral
    Premium: 53,372.00 (Half Yearly)
    Commencement Date: 09-06-2010
    Policy term: 11 years

    Few days back from some financial source, I heard that returns are very less in LIC. Instead of investing such a good amount in LIC, I should have been invested this money in either SIP/mutual fund and for insurance, I should have taken some good term plan.

    I also think the same but it’s already been 5.5yrs since I enrolled the policy and only 5 years are left so don’t want this to be discontinued or surrender as I would lose all of my efforts till now without getting any returns.

    You most of time suggested to pay the premium on regular basis and take the loan from LIC and invest somewhere, I find this idea very good. Could you please share your opinion on this plus answer these below points.

    1) If I take loan of whatever premium (53372.00) I have been paying to LIC half yearly and invest the amount in every six months somewhere else (SIP/Mutual fund/PPF), how it would beneficial for me and what lose I have to bear?
    2) Its only 5.5 yrs. left so how much Interest I have to bear considering that I take loan of 106744.00 on every year. And by this I invest the same amount somewhere else.
    3) Would the maturity remain same if loan has been taken from LIC however; interest is being paid to LIC on regular basis?
    4) Approximately how much interest I will have to pay till my policy gets mature?
    5) Please suggest anything better for me in such situation.

    Thanks
    Jaspal

    • Pradeep Daram
      January 6, 2016 at 10:18 am · Reply

      Hi Jaspal,

      Jeevan saral policy returns aren’t that good. Most of the time, I advice people not to close Jeevan Ananad policy. Not, Jeevan Saral. Personally, I closed my jeevan saral policy and invested the same in other investment options. I didn’t close Jeevan anand policy.

  72. s k sahoo
    December 2, 2015 at 3:24 pm · Reply

    I have take a lone on lic. I want to pay my principal amount on emi every month. It can possible or not ?

  73. Anita
    December 2, 2015 at 7:52 am · Reply

    I have jeevan saral policy.
    i am paying premium Rs.510 monthly.
    i have completed 6 years of policy.
    How much i will get the loan.
    and what will be intrest for loan against policy.

    • Pradeep Daram
      December 3, 2015 at 6:59 am · Reply

      Please go thru the article above. You may get around 25k loan.

  74. Sanjay B Naikwadi
    December 1, 2015 at 9:03 am · Reply

    Dear Pradeep Sir

    Hello

    I had LIC Policy since 2002 and getting Mature in 2018, The Primum is Rs. 6250 (Yearly) Can you Please let me know how much LOAN Amount should i will get.

    Regards

    Sanjay Naikwadi

    • Pradeep Daram
      December 3, 2015 at 7:04 am · Reply

      You can get around 60,000 rupees loan.

  75. MANOJ
    November 27, 2015 at 7:03 pm · Reply

    deaer sir
    I have started my policy 2010 oct till now paid the premium of rs 5467 every 6 month and now how much loan I will get.

  76. ROHIT KR ARORA
    November 23, 2015 at 11:27 am · Reply

    Dear Pradeep Sir

    Hello

    I had LIC Policy since 1997 and getting Mature in 2017, The Primum is Rs. 804 (Quarterly) Can you Please let me know how much LOAN Amount should i will get.

    Thanks

    • Pradeep Daram
      November 24, 2015 at 7:48 am · Reply

      Now you can get close to 50,000 rupees.

  77. Rai
    November 21, 2015 at 11:26 am · Reply

    I have taken a loan of Rs. 40,000.00 against a LIC policy 1 year ago and have paid Rs. 333.00 as loan interest. Now I want to take another loan of Rs. 40,000.00 from the same policy no. Can I get the loan?? If not then suggest me what should I do to get the loan. Its very urgent. Please advice me.

  78. Hitendra Patel
    November 19, 2015 at 7:27 am · Reply

    Can i Pay Loan EMI online?

    Please guide.

  79. Ganesh kolhe
    November 16, 2015 at 10:35 am · Reply

    i have paid lic jeevan anand 5 year premium of Rs.20129 per year i.e. 100645.i want to take loan against policy and stop pay premium.what is your suggession.

    • Pradeep Daram
      December 3, 2015 at 7:06 am · Reply

      Better to take loan and continue to pay the premiums since you have already completed 5yrs. If you feel you can get better returns than Jeevan Anand policy, just take the loan each time after you pay the premium and invest in somewhere else.

  80. Jegadeesan M
    November 16, 2015 at 4:30 am · Reply

    Hi,
    I have a money back policy. I am paying yearly 3600 rupees as policy amount.Policy taken on 2008. Am I eligible to apply a loan. If yes how much amount will I get?
    Thank you in advance. Awaiting for your reply

    • Pradeep Daram
      November 24, 2015 at 7:50 am · Reply

      No loan facility on money back policies as per my knowledge.

  81. sachin jha
    November 6, 2015 at 11:15 am · Reply

    I had taken Jeevan Anand policy in the year 2011, after that i had paid only three premium(quarterly 6925). now 12 premiums are due, If i pay the due premium then can i take the Loan on this policy?

    If yes then, how much percentage of premium amount i can take?

    • Pradeep Daram
      November 9, 2015 at 9:43 am · Reply

      Yes, if you pay the premium amounts, you can take the loan.

  82. Bhavesh
    November 1, 2015 at 7:35 am · Reply

    Is there any problem if i not pay lic loan interest payable half yearly ?

    • Pradeep Daram
      November 9, 2015 at 9:39 am · Reply

      Please go through some of the comments below.

  83. bkc
    November 1, 2015 at 7:29 am · Reply

    I am paying premium of Rs. 25221 (JEEVAN SARAL) yearly since 2009.
    Is it better option to surrender policy as i have financial problem or should take loan against it?

    • Pradeep Daram
      November 9, 2015 at 9:38 am · Reply

      I don’t see decent returns in Jeevan saral policy. If you are okay with loosing some amount, you can surreder it.

  84. Vishu
    October 31, 2015 at 6:17 am · Reply

    Sir,

    Can you kindly tell me the loan amount against my endowment policy no. 442659285. I am running the policy for more than 3 years and all the premium are paid up to date. It will be of great help to me.

    Thank you,

    With regards.

    Vishu.

    • Pradeep Daram
      November 9, 2015 at 9:39 am · Reply

      I can’t give you rough amount without yearly premium amount.

  85. Gonal
    October 29, 2015 at 7:22 pm · Reply

    Hi Pradeep,

    I have take lic loan few years back and not have paid any interest , but am paying my premiums in time.

    Need to know if I can payback loan mount in easy EMI’s and online or ecs mode or any online mode.

    Thanks for your responses in advance .

    • Pradeep Daram
      November 9, 2015 at 9:42 am · Reply

      You can pay interest in any branch. Not possible to pay thru online. There is noting like EMIs.You should keep on paying interest till you hold the principal amount.

  86. Inderjeet
    October 29, 2015 at 10:06 am · Reply

    How can I know the amount I am eligible for loan on my lic policy

    • Pradeep Daram
      November 9, 2015 at 9:41 am · Reply

      To know exact amount, you can call to LIC’s call center. They’ll let you know

  87. Swapnil
    October 28, 2015 at 2:02 pm · Reply

    Dear Pradeep,
    I want to know how the interest amount is calculated?
    For example if i borrow loan of 1 lakh for 3 years. Then what will be the interest amout i have to pay 6 monthly basis?

    • Pradeep Daram
      November 9, 2015 at 9:41 am · Reply

      I think, current interest rate is 10% pa. i.e 10,000 per year for 1,00,000. You can calculate accordingly.

  88. bhim
    October 27, 2015 at 2:48 pm · Reply

    dear pradeep sir i want loan agains my policy but the home branch is in my native place and i live in delhi how can i apply for loan from here in delhi.

    • Pradeep Daram
      November 9, 2015 at 9:40 am · Reply

      Not possible. You have to goto home branch to apply for loan against your LIC policy.

  89. niranjan
    October 24, 2015 at 9:45 am · Reply

    Hi,

    I have Jeevan Tarang policy from 27.09.2013,can i get loan.

  90. Viki
    October 17, 2015 at 5:28 pm · Reply

    Dear Pradeep – I am having a Jeevan Anand Policy from 2007 and I already availed Rs. 1 lakh rupee as loan before 15 months. Now I need another 1.5 lakh ruppee and I should be eligible for it as I am paying Rs. 60,000 per year.

    But need to no the terms and conditions. Whether I can get Rs. 1.5 lakh additional amount as topup or I need to surrender the existing loan to avail the new amount. If I surrender, whether I can apply for the new amount immediately?

    Thanks

    • Pradeep Daram
      November 9, 2015 at 9:23 am · Reply

      Hi,
      When you go for loan again, what they will do is, they will close the current loan and give you another loan. They will only deduct the original LIC policy principal from the new loan and give rest of the amount to you.

  91. sandeep behera
    October 17, 2015 at 3:32 pm · Reply

    Hello Sir, i have two policy of endowment and u lip which are in force since last four years. how much amount of loan i can take?

    • Pradeep Daram
      November 9, 2015 at 9:21 am · Reply

      It depends on the premium amount and surrender value of your policy. If you can let me know those details, I can help you in that.

  92. sadhana patil
    October 15, 2015 at 12:42 pm · Reply

    can i get deduction of loan repayment of lic loan and interest on it??

    • Pradeep Daram
      November 9, 2015 at 9:20 am · Reply

      I am sorry…But, i couldn’t get what you were asking. Can you please give more details ?

  93. Arun S
    October 15, 2015 at 5:35 am · Reply

    Hello Mr. Pradeep,

    All your replies are very convincing, please help me in selecting a LIC policy / Any other government bonds. I want a policy / bonds which will help me in getting home loan in next 5 years. I mean I have heard that collaterals like LIC policy / bonds is added benefit to home loan approvals from banks like SBI. My age is 31 and I am currently collecting down payments for the requisite loan after 5 years.

    Please assist in selecting a good policy / bond which would be an added advantage for approval of my home loan from SBI or LIC

    • Pradeep Daram
      November 9, 2015 at 9:19 am · Reply

      I am sorry for the delay in response. Do you still need answer to your query? If so, let me know. Will give you full details.

  94. p rudresh
    October 10, 2015 at 10:00 am · Reply

    I have jeevan anand policy in selam krishnagiri Tamil naadu,but I am staying in Bangalore I can’t go there take loan Pls send me what process I need to do to transfer the policy to my nearest branch

    • Pradeep Daram
      November 9, 2015 at 9:17 am · Reply

      I don’t think, its possible to transfer the branch. Even if so, you must visit the bank at least once.

  95. Vivek
    October 8, 2015 at 4:35 pm · Reply

    Sir ,
    First of all thank you very much for providing valuable information.
    I need your expert advice in the following case.
    I have a LIC jeevan Anand plan S.A. 300000, term 20 yrs, premium-15000. I have paid 5 premiums. After going through various sites I came to know that returns are merely doubled in 20 yrs. I have insurance cover of 25 lacs apart from this.I only started LIC for investment purpose. Should I continue, surrender or take loan and invest somewhere else?
    Thank you

    • Pradeep Daram
      November 9, 2015 at 9:16 am · Reply

      Since you have already paid 5 premiums, its not advisable to surrender your policy. Instead, take the loan and invest somewhere where you feel, you can get better returns.

  96. veera
    October 6, 2015 at 10:08 am · Reply

    Hi Pradeep,

    I got a loan against my LIC policy 6 months back. Can i view my loan details online? Can i pay total amount through online? Please let me know.

    Thanks in advance

    Thanks,
    Veers

    • Pradeep Daram
      November 9, 2015 at 9:45 am · Reply

      Anything related to your loan against LIC policy is not possible through online. You can’t view the details, you can’t pay the interest thru online.

  97. Dev
    October 5, 2015 at 1:54 pm · Reply

    Hi Pradeep,

    We have taken Loan against LIC policy from LIC. But, LIC is asking us to go to the home brang to make EMIs every month. Can it be done online ? It is very difficult to go to the branch every week and make payment. Any advises/Suggestions would be appreciated.

    Thank you,
    Dev

    • Pradeep Daram
      November 9, 2015 at 9:53 am · Reply

      Interest need to pay for every 6 months. Not, every month. And, to pay only interest amount, you can visit any LIC branch.

  98. srinivas
    October 5, 2015 at 5:53 am · Reply

    are there any link for to check for interest of my policy loan and principal amount in LIC.

    Please suggest.

  99. arijit
    October 2, 2015 at 6:44 pm · Reply

    hi,
    if I take out a loan against my policy will it reflect in cibil ?

  100. Devendra Arekar
    October 2, 2015 at 10:58 am · Reply

    hi,
    I have Jeevan anand(149) for 21 yrs, yearly i am paying Rs.5182/- 7 yrs completed, how much amount i will get as loan.
    And also please confirm whether if i take loan, will it impact my yearly bonus calculation.

    • Pradeep Daram
      November 9, 2015 at 9:54 am · Reply

      Your loan will NOT impact your yearly bonus calculation.
      You can get approximately, 25,000 loan.

  101. Sasmita Singh
    October 1, 2015 at 12:41 pm · Reply

    Hi ,
    I am having a LIC policy and paying premium 26000 pa and his policy started on 2006 .so can you please tell me can i take loan and what will be the loan amount i can take .

    And this policy branch is in delhi .so for taking loan should i need to go delhi ?

  102. Gayatri
    September 30, 2015 at 11:18 am · Reply

    Dear Pradeep sir,

    My policy has been started Dec’2009 Rs.10500 per annum.Is I m eligible for the personal lone against the policy.

    If yes what is the approx. amount I can get.

  103. Vijay kumar V
    September 30, 2015 at 10:26 am · Reply

    my wife paying LIC’s Jeevan Anand policy as 3 months once she pay 6500, it’s started at 2010 still paying the policy can we get the loan

  104. P. Gunasheelan
    September 29, 2015 at 1:41 pm · Reply

    Dear sir,
    my plan term is 165 and can you explain me what is the exact my policy is and i ahve taken in the month of may. can i close the loan right now and how muuch time they will take to return my bond and can i pay this amt via online or should i visit my branch.

    and they havent given any of the acknowledgement at the time of taking my bond. can i go with my xerox copy

    pls suggest sir.

    • Pradeep Daram
      November 9, 2015 at 9:56 am · Reply

      LIC will return your bond when you close your loan. No need to worry about it.
      Better maintain a xerox copy of your lic policy. If you know your LIC policy number, that should be fine. No need to worry anything.

  105. Kumar
    September 29, 2015 at 1:05 pm · Reply

    Sir,

    I am paying LIC policy from 2003 onwards every year i am paying 15600, How much i can avail loan .

  106. Praveen
    September 29, 2015 at 9:02 am · Reply

    Hi,

    My dad has taken the loan on LIC policy, but my father was expired 2 months back, is there any cancellation of loan or we will get the balance LIC amount.

    • Pradeep Daram
      November 9, 2015 at 9:49 am · Reply

      They will not cancel the loan. But, they will deduct the loan and principal amount from the insurance amount you claim.

  107. venugopal
    September 28, 2015 at 3:23 am · Reply

    sir, i have jeeven anand policy, and i was closed my loan in june 15. there is possibility to apply new loan against to same policy.

    • Pradeep Daram
      November 9, 2015 at 9:48 am · Reply

      Yes, it is possible. You can apply now itself.

  108. Rahul
    September 26, 2015 at 11:46 am · Reply

    Dear Pradeep,
    i have policies in different cities and have been taken from various agents, as my job is transferrable, is it possible to apply for loan against all policies in one place at one go.
    Regards
    Rahul

    • Pradeep Daram
      September 26, 2015 at 3:12 pm · Reply

      No. You have to apply at your home branch itself.

      • Swaminathan
        October 20, 2015 at 3:22 pm · Reply

        Hi,

        I have a LIC Jeevan Anand policy worth 100000, start date is Oct 2007. My quarterly premium is 1315. What is my loan eligibility against this policy?

        Regards,
        Swami

  109. Sneha
    September 25, 2015 at 7:51 am · Reply

    I have a Keegan Anand Policy. How early can I apply for a loan

    • Pradeep Daram
      September 26, 2015 at 3:15 pm · Reply

      You are eligible to apply only after completion of 3yrs of your policy.

  110. Sneha
    September 25, 2015 at 7:45 am · Reply

    I have a Jeevan Anand Policy. How early can I apply for a loan.

    • Pradeep Daram
      September 26, 2015 at 3:16 pm · Reply

      You can apply anytime after completion of 3yrs from the start date of your policy.

  111. Srinivas
    September 22, 2015 at 7:21 am · Reply

    Hi Pradeep,

    I took a loan on my jeevan Anand policy and now i want to close the loan and interest amount can we close my loon or should be wait 6 months.I mean is there any foreclosure period is there for loan amount.

    Thanks,
    Srinivas

    • Pradeep Daram
      September 26, 2015 at 3:16 pm · Reply

      No foreclosing charges for the loan against your Jeevan anand policy. You close it right away.

  112. P SURESH KUMAR
    September 22, 2015 at 7:18 am · Reply

    I have a LIC policy since 1998 and my quarterly premium amount is Rs.339/-. This is a money back policy. Is it possible to get loan against my policy. The total policy amount is Rs.25,000/-. There is no due till date.

    Please give me reply.

    • Pradeep Daram
      September 26, 2015 at 3:18 pm · Reply

      No. money back policies doesn’t have loan facilities. Only endowment policies have. If you can let me know your policy name, i can verify and get back to you.

  113. K. R. Vijayalakshmi
    September 21, 2015 at 5:24 am · Reply

    Dear Sir,

    I am having Endowment policy from 2002 onwards. I have taken loan of Rs.50,000/- in May 2015. Kindly request you to provide me the details like rate of interest, and if any compound interest is applicable?.

    Is there is any option that If i pay partly Rs.40,000/- in the month of Decemeber 2015? Any less in the rate of interest & compound interest if any.

    • Pradeep Daram
      September 26, 2015 at 3:21 pm · Reply

      Current interest rate is 10.5% per annum as per my knowledge. You can do part payment. Ideally, they will close your existing loan and grant you fresh loan with less loan amount. For you, you can consider it as part payment. Doesn’t make any difference.

  114. Yogesh
    September 19, 2015 at 7:08 am · Reply

    Hi pradeep,

    I have lic jeevan anand policy no 815. I paid one premium worth 55,000 INR per annum. Am I eligible for housing loan ???

    • Pradeep Daram
      September 26, 2015 at 3:22 pm · Reply

      No relation between housing loan and loan against your jeevan anand policy. After all, you are eligible to apply for loan only after 3yrs from the start date of your policy.

  115. Karthik
    September 18, 2015 at 6:43 am · Reply

    hi,
    I have Jeevan anand(149) for 20yrs, yearly i am paying Rs.15000/- 8 yrs completed, how much amount i will get as loan.
    And also please confirm whether if i take loan, will it impact my yearly bonus calculation.

    • Pradeep Daram
      September 26, 2015 at 3:30 pm · Reply

      You can get approx 80K loan. Your loan will not impact your yearly bonus calculation. So, no worries.

  116. Chaithanya Sreenivas
    September 17, 2015 at 12:57 pm · Reply

    Hello sir,
    I am holding the Jeevan Anand Policy Since March 2010 with a premium of Rs. 24907 per year.
    Now i would like to apply for a loan against my policy, so how much loan can i get ?
    Actually i need an amount of Rs.5,00,000 (Five Lakh Rupees).
    If not possible through my existing policy, can u refer me any alternate route.
    Thank you

  117. Nik
    September 16, 2015 at 4:42 pm · Reply

    Dear Pradeep Sir

    I Have Jeevan anand (Plan 149). Start the Policy in 15-04-2011 and installment paid monthly till 15-09-2013. after that no premium paid.

    please help me what to do. because if i will surrender then i will not get anything return.

    so for the revival or continue the policy what i can do

    A) Can i get loan against the policy then how much loan i get ( because i deposit 29 installment Rs-62000)
    B) there is any installment Loan revival Process in LIC in which i will pay the Premium Along with Unpaid Premium.
    C) Any other policy revival Method ….

    Because now the premium which i have to pay to run the policy is 60000 Rs. which is not possible for me to pay it.
    i also can not avail the Personal Loan.

    Regards
    Nik

    • Pradeep Daram
      September 26, 2015 at 3:33 pm · Reply

      Its not good to surrender your policy.
      One thing you can do is, just try to arrange money for your pending premiums and pay them. After that, you can take loan against your policy to return the money from wherever you have arranged. You can close your loan whenever your have money.

  118. Perumal
    September 15, 2015 at 5:45 am · Reply

    I have taken Loan against my LIC policy, but I am unable to pay the principle amount in other branches, is there any way to pay the principle amount in other branch or is there any way for making payment through online.

    I have taken loan in my village and now I am staying in Mumbai, I need to make the payment to LIC towards Interest and Loan Principle amount. But I am unable to make the payment in Mumbai, pls guide me is there any other way to make the payment through online or any branch.

    Thanks
    Perumal – 9619201929

    • Pradeep Daram
      September 26, 2015 at 3:34 pm · Reply

      There is no other way. You have to go to your village ( where you have submitted your LIC Bond ) and pay the principal to close the loan.

  119. Arvind Kumar
    September 12, 2015 at 2:28 pm · Reply

    Hello Sir,

    Can i have two similar Lic Policies.
    1) Lic Jeevan Anand (Policy taken in 2003)– Maturity date –2022
    2) Lic Jeevan Anand (Policy taken in 2013) — Maturity date –2037

    I have these two policies , can i continue with these two policies.
    Will there be any issues if one person have two similar kind of policies.

    Thanks fore your assistance in Advance.

    • Pradeep Daram
      September 26, 2015 at 3:35 pm · Reply

      No problem at all. You can have any number of policy on single person name.

  120. Manigandan
    September 7, 2015 at 9:24 am · Reply

    Hi Mr. Pradeep,

    I have taken a loan against my LIC Policy (Jeevan Anand) on Feb’2015. The loan amount is Rs.93900.

    I need the following details,

    1. When i have to pay the interest.
    2. What will be the interest amount.
    3. What happen if i made a part repayment of loan amount (Rs.40000) in this month (Sep’2015)
    4. What will be the new interest amount after this repayment.

    • Pradeep Daram
      September 26, 2015 at 3:37 pm · Reply

      Interest rate will be same on the principal amount. As per my knowledge it is, 10.5% p.a now. You have to pay interest every 6 months.

  121. gurulingappa patil
    September 5, 2015 at 4:38 am · Reply

    Sir i need loan against my lic policy
    My yearly premium is 12010
    I have complete 3 premium.
    So how many loan i can receive.
    And is I’m eligible for loan?

    Thnx & regard
    Guru patil

    • Pradeep Daram
      September 9, 2015 at 12:35 am · Reply

      You are eligible only after completion of 3yrs of your policy.

  122. mahesh jadhav
    September 2, 2015 at 12:40 pm · Reply

    Hi Pradeep sir I read all your replies and its very much satisfactory to the needy persons.
    I have one question I want loan against my two jeevan anand policies I had paid 150000 and completed 3 years in july 2015 then what amount should I get from lic.

    • Pradeep Daram
      September 26, 2015 at 3:38 pm · Reply

      It depends how many years you have completed. More precisely, it depends on the surrender value of each policy. Are both the policies taken at the same time?

  123. md. shayan
    August 27, 2015 at 10:19 am · Reply

    I want a lone of Rs. 3 lakhs so what is the requrement and how to get loan

  124. poonam
    August 19, 2015 at 11:07 am · Reply

    dear sir

    i want personal loan my monthly income is 12000/- which bank or financial institution will give loan to me i want its on urgent basis

    • Pradeep Daram
      August 23, 2015 at 3:23 am · Reply

      If you are salaried, its better u approach your bank in which your salary will be credited. they can give you better rate of interest for personal loan.

  125. Vikas Rao
    August 19, 2015 at 7:48 am · Reply

    Hello Pradeep: Lot of information from your end; thanks for dedicating your time and patience.

    But, I am still not connecting to the concept of “How loan is repaid to LIC”. Supposedly, if I take a loan of 1 Lakh and I need to pay interest of 10000/- every year (May be with interval of 5000 half yearly), I got this. But, how do I repay the principal of 1 lakh what I borrowed from LIC? Please clarify this.

    • Pradeep Daram
      August 23, 2015 at 3:26 am · Reply

      Just go the same LIC branch ( where you have submitted your LIC bond ) and pay the principal. They will return your LIC bond once you clear your loan.

  126. Prasanta sahoo
    August 18, 2015 at 12:16 pm · Reply

    I am continueing a jeevan anand policy from sept 2010 qtly @ 6187 at odisha . But I have not paid premium since dec’13. Now I want to pay all the premium amount but I am staying outside from my state at Delhi and will come to native place on jan ’15 . How can I pay my premium as fast. Also I had taken a loan of rs. 40000 against my policy on Nov’13 and what will be the interest….

    • Pradeep Daram
      August 25, 2015 at 12:15 pm · Reply

      You can pay your premiums through online or any LIC branch. To pay premium, you DON’T NEED to goto your home branch.

  127. Pradeep
    August 17, 2015 at 11:53 am · Reply

    Hi Pradeep,
    Actually I have 3 policies
    a) The Endowment Assurance Policy
    b) Jeevan Anand
    c) Jeevan Mitra Triple Cover Endowment Plan

    For the above policies are 25 years plans & I am paying premium of Rs. 663 (The Endowment Assurance Policy), Rs. 741 (Jeevan Anand) & Rs.802 (Jeevan Mitra Triple Cover Endowment Plan). So total Rs. 2206 p.m including three policies.

    I am paying these policies from 08.03.2011 & as of now I have paid around Rs. 1,17,000. And now I am planning to take loan against these three policies. Howmuch Loan I can expect from these three policies….?

    • Pradeep Daram
      August 25, 2015 at 12:49 pm · Reply

      I am only aware of Jeevan anand policy. I am sorry, i may not be helpful to you in this regards.

  128. muniasamy
    August 13, 2015 at 10:05 am · Reply

    I have Jeevan saral policy, amount paid 2042/- PM since Mar 12. if i surrender my policy how much amount i can get or discontinue my policy then how much amount i can get or go for any loan. which is the best. help me.

    • Pradeep Daram
      August 14, 2015 at 6:20 am · Reply

      You won’t get much if you surrender your jeevan saral policy. Infact , you may loose some of your premium amount. Better continue the policy if you can get decent loan amount. Otherwise, just close it.

  129. Mayur Gupta
    August 8, 2015 at 9:59 am · Reply

    I am having 2 lic policy of total 3lacks for 20 years period and 10 years have passed and I want some loan what amount i can get i am paying Rs 3869/- for half yearly premium and Rs.859/-Quarterly payment.

    • Pradeep Daram
      August 14, 2015 at 6:21 am · Reply

      You can get nearly 70-80% of the premium paid amount since you have completed 10 years. This is applicable only if your LIC policy is jevvan anand. Rest will vary.

      • Vikas
        September 17, 2015 at 2:33 pm · Reply

        Hi Pradeep,

        I have Jeevan Anand policy and paid premium amount of 68387 yearly from last 7 years, How much amouy i get get as a loan on this policy or i should surrender it ?

        • Pradeep Daram
          September 26, 2015 at 3:40 pm · Reply

          If you need money, better to take loan instead of surrendering your policy.

  130. Sujatha
    August 4, 2015 at 1:59 pm · Reply

    Dear sir,
    I am paying around 1,50000 premium for various lic policies like Jeevan Anand,jeevan Tarang and Jeevan Sarah ,already completed more than 5 yrs.
    I contacted the development officer and he said we can get loan of 4 lakh against my policies.
    My question is can we pay principal amount along with interest and what will be the emi amount?
    Kindly help me

    • Pradeep Daram
      August 14, 2015 at 6:24 am · Reply

      Its not like EMIs. You have to pay only interest every 6 months. Or, close the loan completely.

      If you still want to pay principal, the only thing available is, go to the branch and say that, you want to close the loan. Just close the loan and immediately apply for loan again. They will give the balance principal amount as a fresh loan.

  131. Mahesh
    August 4, 2015 at 10:18 am · Reply

    Hi Pradeep,
    Just seen your site.
    I planned to take a Loan againt my LIC Jeevan Anand Policy plan no.149
    I paying this policy since 2008, my questions are:
    1) If I take Loan against policy is it any disadvantage or affect in my maturity amount of my policy plan?
    2) I planned to take policy loan for balancing my Home Loan where I pay 12% per annum – is it adviceable to take LIC Loan?

    Looking fwd for ur reply Thanks…

    • Pradeep Daram
      August 14, 2015 at 6:30 am · Reply

      Hi Mahesh,

      Below are the answers to your questions:

      1) No. It won’t affect maturity amount. If you don’t close the loan by the time of maturity, they’ll just deduct the same amount from your policy maturity amount. There is nothing to do with your policy maturity amount if you take loan. They are just giving a facility for you by keeping your LIC policy bond. Its as simple as , mortgage loan. You are mortgaging your policy bond and taking loan. That’s it.
      2) If you are paying income tax, don’t do this. Because, you can get tax benefit against your interest payment of your home loan and also principal amount under 80C section. You won’t get this facility if you take loan against your LIC policy. If you are not paying any income tax,etc… Yes, you can go ahead with your plan since it doesn’t make any difference for you.

      Feel free to revert back if you need any more details.

  132. Aravind
    August 3, 2015 at 6:46 am · Reply

    Hi sir,

    I have taken a loan against policy. I got a message saying i need to pay the interest after 6 months. Can i pay this amount through any LIC office ? Or only in the home branch. Also is there an online way to pay ?

    Regards
    Aravind

    • Pradeep Daram
      August 14, 2015 at 6:31 am · Reply

      There is no online payment for interest amount.
      Yes, you can pay interest amount at any LIC policy branch.

  133. Ravi
    August 2, 2015 at 8:05 am · Reply

    Hi Pradeep,
    What is the documentation requirement for availing loan against policy?

    Thanks

    • Pradeep Daram
      August 14, 2015 at 6:32 am · Reply

      Just directly goto your LIC policy home branch with your LIC policy bond( original ), ID proof, and some revenue stamps. Rest, they will guide you. 🙂

  134. G.ABHILASH
    July 25, 2015 at 11:21 am · Reply

    i opened my lic policy 2011 october and i paying quarterly 2673/_.how much loan i will get,how much intrest should pay;pls dvice me

    • Pradeep Daram
      August 14, 2015 at 6:17 am · Reply

      Please go through the above article… you will get all the information about interest rate. If you need more details, please revert back to me

  135. Sivaprasad
    July 24, 2015 at 12:13 pm · Reply

    Hi Pradeep,

    I have Jeevan anand (Plan No: 149) from 25/June/2012.

    I am paying yearly mode premium of Rs.48988. And till now I have made 4 payments(Rs.195952).
    I want to take personal loan against my policy. How much loan amount i will eligible for. Please suggest.

    • Pradeep Daram
      August 14, 2015 at 6:17 am · Reply

      You can get roughly 50% of the surrender value. You can get approx 1 Lakh loan against your policy.

  136. sudeep
    July 15, 2015 at 10:42 am · Reply

    Sir I have a jivan tarang policy. I M Paying A Premium Of Rs2094 per Month. I Have Completed 3 Years Of My Policy. I Paid 81666 amount Yet. Accumulated Bonus Is 49000.
    So Plz Tell Me How Much Amount Can I Get From This Policy As Loan And How Much on Surender

    • Pradeep Daram
      August 14, 2015 at 6:14 am · Reply

      You can get approx 40,000 rupees loan. Accumulated bonus will be give to you only at the time of policy maturity . You won’t get it if u surrender your LIC policy.

  137. Shazia
    July 15, 2015 at 8:58 am · Reply

    Sir, I have Jeevan Anand Policy of Yearly Rs.15429. I took policy in 2011 and have paid the total amount of Rs.77145. How much amount shall I get the loan against it. I live in MUmbai and my agent is of Delhi and branch too is in delhi. what will be the procedure to apply loan here in mumbai.
    Thanks!

    • Pradeep Daram
      August 14, 2015 at 6:09 am · Reply

      You can apply for loan on your jeevan anand policy at home branch only. i.e Delhi. Agent location doesn’t matter. You can get approx 30,000 rupees.

  138. Shivaswamy
    July 9, 2015 at 8:34 am · Reply

    Hi Pradeep,

    I have a Jeevan Anand Policy, for which I have paid INR 1,65,920 rupees premium starting from May 2011.

    How much loan i will get it. Should I take it from LIC / Shall I take it from other lenders like Banks.

    Please let me know.

    Thanks
    Shivaswamy

    • Pradeep Daram
      August 14, 2015 at 6:08 am · Reply

      You can get approx 70,000-80,000 loan against your jeevan anand policy. Don’t go for banks for loan. Prefer LIC itself. Because, interest rate is less , no need to submit many documents and they will credit loan amount in 3-4 working days.

  139. MANJUNATHAN.P.
    July 4, 2015 at 7:32 am · Reply

    I NEED A LOAN AGAINST MY LIC POLICY THE POLICY NAME IS JEEVAN ANAND BEFOR I GOT A LOAN AND RE-PAID THE LOAN SO AGAIN I NEED A LOAN SO HOW TO UPROCH AND GET IT PLZ HELP ME OUT ITS VERY URGENT AND LIFE THING

    • Pradeep Daram
      August 14, 2015 at 6:11 am · Reply

      You just need to submit your bond at the same branch where you took the LIC policy. They hardly takes 3-4 working days to credit the loan amount in your savings account.

  140. S Vishnu vardhana Reddy
    June 25, 2015 at 3:43 pm · Reply

    Hi Pradeep,

    Really pleasure to talk to you after seeing all the comments you answered patiently.

    I want to know few details as below.

    I have 2 Lic policys as stated below:

    Jeevan Anand – Paid 5 years (27,186 per year/ Sum assured 5,00,000).
    Jeevan Shree – Paid 5 years (50,646 per Year/ Sum assured 10,00,000).

    I just want to know how much amount loan i will get on both policys; as i am planning to take and pay interest every year.

    Request to please clarify.

    Regards,
    Vishnu

    • Pradeep Daram
      August 14, 2015 at 6:36 am · Reply

      I m not sure about Jeevan Shree. But, you can get approx 80,000 loan on your jeevan anand policy.
      You have to pay interest every six months. Not every year 🙂

  141. Lalit Sapra
    June 25, 2015 at 11:36 am · Reply

    Hi Pradeep, I am having a Jeevan Anand Poliy since Jan 2011 and I have paid 10 half yealrly installments of 12516/-. How much loan can I get?

  142. Avinash Kulkarni
    June 14, 2015 at 11:26 am · Reply

    Hi , Can you clarify about the 10% interest ? Is it DAILY reducing or not..? I have already availed the loan and want to pay off inbetween i.e. more than interest payable.
    Will that extra monies will be applied to principal on payment date .. If not what is the best date to pay the principal .thanks .Avinash Kulkarni

    • Pradeep Daram
      August 14, 2015 at 6:40 am · Reply

      Its 10% per annum. Suppose, If you take loan of 1, 00,000. You will be paying 10,000 interest for year. And, you have to pay interest every 6 months. i.e 5,000 every six months.

  143. saravanan
    June 12, 2015 at 3:25 pm · Reply

    Hi,

    My policy new bheema gold effect from Oct 2008(per year I have paid nearly 13000)…. I am getting bonus Rs. 40000 on Oct 2012…

    Now I am looking for loan Rs.1lakh…

    Note: I am settled my credit card on Feb 2014.

    Can I get this much amount?

    Settlement can make any problem to me?

    • Pradeep Daram
      August 14, 2015 at 6:45 am · Reply

      LIC policy loans doesn’t care CIBIL score since they take your LIC policy’s original bond. So, if you settle your credit card amount, it can only affect your CIBIL score, which LIC doesn’t care for loan against your LIC policy.

      To know more about loans which depends on CIBIL score, please go through the below link:

      http://managemypaisa.com/need-money-here-are-the-ways-to-borrow/

  144. Saranga
    June 12, 2015 at 5:01 am · Reply

    Hi Sir;

    I have taken Loan against 2 policies 1year 7months back. But I have neither paid the interest nor the principal amount yet.

    Any problem for the delay?

    • Pradeep Daram
      August 14, 2015 at 6:46 am · Reply

      No. Your interest amount will be considered as principle each time you miss the payment. As long as you pay your premiums on time, nothing will affect your LIC policy.

  145. Anand
    June 12, 2015 at 4:58 am · Reply

    Hi, I have Jeevan Anand’s 3 policy total amt about 70k every year, about to complete 3 years this month. I wanted to close all 3 policy and go for term insurance. But since surrender value is 30% or premiums paid excluding first premium, is it better option to take loan and stop paying premiums and loan interest? Anyway I will be taking loan on my money right? What do you think?

    • Pradeep Daram
      August 14, 2015 at 6:52 am · Reply

      logically, you can do that. But, still you will loose huge amount your premium amount. You can get loan only upto 80-90% of surrender value. People get confused after seeing vested bonus amount. Vested bonus amount will be paid only when the policy gets matured.
      The best thing you can do is, just take the loan against your LIC policy and continue paying your premiums. Each time you pay the premium, you increase your loan amount.I mean to say, take loan again on the new preimum paid amount. So that, you won’t loose both your premium amount, and LIC policy benefits. You only have to pay 10% per annum interest amount for the loan. Even if you go for fixed deposit the same amount , you will get approx 8% in return. If you go for 5 yrs, you can get tax benefits too. Its all about financial planning.

      Bottom line, I suggest you not to close the policy and take the loan instead each time you pay premium.

      Feel free to revert back for more details.

  146. dheeraj
    June 11, 2015 at 9:54 am · Reply

    sir i wanna laon aginst my jeevan anand policy. started in 2007 and 25078 is anual premium.i need loan approx 10 lakh for house purpose is it possible?

    • Pradeep Daram
      August 14, 2015 at 6:53 am · Reply

      No.
      Your loan amount is dependent on the premium amount you have paid. You’ll never get loan more than the premium amount you have paid.

  147. karan
    June 7, 2015 at 12:13 pm · Reply

    hi Pradeep

    No loans were applied till date. but I had a issue with ICICI in 2007 on credit card (amount settled but not updated in their records) , recently i approached RBI, after that bank has Zeroised the total amount Rs 70000.

    my CIBIL status reflects SETTLED and the current balance is NIL.

    I need to take home loan in LICHFL. will it be impact on my loan. could u pls provide comments.

    karan

  148. suresh
    June 6, 2015 at 5:23 pm · Reply

    Hi Pradeep ,

    i have taken Lic Polacy in Andhra pradesh , tirupathi .
    i have already took loan agines polacy in tirupathi location , and i paid agin. if i want to take again i can take it .
    currently i am living in Bangalore location . so i can take loan in Bangalore location , Please let me know .

    Thank You!
    Regards,
    Suresh

    • Pradeep Daram
      June 6, 2015 at 6:05 pm · Reply

      Yes. you can take it but only at your home branch, i.e tirupathi. You can’t apply for loan in b’lore.

  149. Abhay
    June 5, 2015 at 3:30 pm · Reply

    Hi Pradeep,

    I’ve open the Jeevan Anand policy in 2010 and paying for it from last 5 years. The total amount paid is 124340. I’ve following queris.

    1. Should I surrender the policy. If it is then how much money LIC will refund.
    2. If I’ll go loan against policy then how much loan will get approve. Is it require agent signature who had opened the policy or any other authorised agent signature is allow.
    3. Will it come in CIBIL if loan is not paid.
    4. If I’ll ask LIC that I’ll not pay future premium and refund me after maturity based on the calculation. This option is good or its betterto go for loan against policy.

    Appreciate your response as soon as possible.

    Many Thanks
    Abhay.

    • Pradeep Daram
      June 10, 2015 at 10:54 am · Reply

      Hi,
      Below are the answers to your queries:

      1. Should I surrender the policy. If it is then how much money LIC will refund.
      Answer: ( Don’t surrender your policy. You might loose huge amount of your money since you have completed only 5yrs )
      2. If I’ll go loan against policy then how much loan will get approve. Is it require agent signature who had opened the policy or any other authorised agent signature is allow.
      Answer: Loan amount is dependent on surrender value of your policy. As per my guess, it may be around 70,000 rupees. Agent signature is not required at all. Just take ID/Address proof along with your LIC agreement BOND . They will help you rest.
      3. Will it come in CIBIL if loan is not paid.
      Answer: No, it will not ( Keep in mind that, your loan amount along with interest will be deducted when you surrender your policy at the time of its maturity)
      4. If I’ll ask LIC that I’ll not pay future premium and refund me after maturity based on the calculation. This option is good or its better to go for loan against policy.
      Answer: Its not advisable to discontinue the policy if you CAN pay the premium amount. If I am not wrong, your concern might be that, you are getting very low returns on your premium amount. To offset that, take loan against your policy and put them in high-growth funds where you can earn more than 10% per annum ( interest on loan against LIC policy is somewhere around 10% per annum )

  150. Chaitanya Vemuru
    June 5, 2015 at 9:30 am · Reply

    I am paying the jeevan anand policy from last three years. By this march 2015, three years got completed and paying nearly 54000 every year. How much can i expect as a loan as of now and also what will be interest on it and how to apply…Thanks in Advance

    • Pradeep Daram
      June 10, 2015 at 10:36 am · Reply

      You can get upto 70-80k loan against your jeevan anand policy. Just go thru the article above, to get clear interest rate info. I think, its somewhere around 10% p.a

  151. kumar
    June 4, 2015 at 8:18 am · Reply

    I have 10 lac insurance 1 lac p/a. how much amount eligible to take Loan against LIC Policy?

    • Pradeep Daram
      June 10, 2015 at 10:37 am · Reply

      It depends on the policy type, premium, number of years completed,etc. let me know more details, so that i can help you out.

  152. deepak
    June 3, 2015 at 11:54 am · Reply

    i want a loan on my policy how i can get it

  153. om parkash
    May 31, 2015 at 5:35 am · Reply

    I am paying rs.27019 per year for the last 5 years. Now I need loan amount. Kindly suggest how much I can borrow

  154. Ankur Maurya
    May 30, 2015 at 8:44 am · Reply

    hello sir ,,,,,my policy no is 894037080.

    i strated my policy in 2009…….and from last jan 2014 i was not pay primium of that policy……so can i get loan from the policy………if i can get loan plz tell me the amount,,,,,

    • Pradeep Daram
      June 10, 2015 at 10:39 am · Reply

      Which policy is that? Is it jeevan anad policy?

  155. jitendra shirsath
    May 27, 2015 at 7:11 am · Reply

    Dear Pradeep,
    i have beema gold policy & premium is 637 per month is paying from last six year (Policy start date21.03.2009)
    i have beema gold policy & premium is 6243 Half yearly is paying from 14.01.2012 contineously
    i have jivan saral policy & premium is 2042 perm month is paying from 24.12.2011 contineously

    Am i eligible for loan& how?

  156. SUDEEP
    May 26, 2015 at 11:34 am · Reply

    does loan against lic policy consider in CIBIL scoring

  157. muniraja
    May 26, 2015 at 4:18 am · Reply

    Hello sir, i took loan on my jeevan anand lic policy it is now sixth month over, i cannot able to pay interest amount, what is going to happend ?

    • Pradeep Daram
      June 6, 2015 at 6:08 pm · Reply

      Nothing much to worry. Your interest amount will be added to principal amount. So, next time onward, you will pay the interest for the unpaid interest too along with the principal which you have taken as a loan.

  158. BAIJU
    May 23, 2015 at 8:04 am · Reply

    I take on loan against my lic policy.how can pay through online for interest and principle amount

    please help me

    thanks

    • Pradeep Daram
      May 25, 2015 at 10:55 am · Reply

      You can’t pay the interest and principal amount through online. you must visit LIC branch.

      • umaselvan
        May 25, 2015 at 1:24 pm · Reply

        is it possible to pay premium at any lic branch

        • Pradeep Daram
          June 6, 2015 at 6:06 pm · Reply

          Yes, it is possible to premium at any LIC branch. You can also pay through online

      • Vijaya
        May 28, 2015 at 11:40 am · Reply

        Hi Pradeep,

        My mom and me both have LIC policies. I have total 7 and she has few (not sure how many). These policies are running for close to 20 years now. We bought a new house and the title is in my mothers name who is a senior citizen. she cannot get a home loan from a bank. Can LIC give me/her a loan> my name will be added to the property while we register it. the property is in Mumbai. I desperately need guidance on this one.. please help in answering my query. Also, it will be great if you can explain how we get the loan.. is it based upon the sum insured or the premium paid so far? and how much of loan can be availed. is there any url which i can visit to understand SOC and T&Cs…. Thanking you in advance.

        • Pradeep Daram
          June 10, 2015 at 10:45 am · Reply

          Hi,

          Sorry for the delay in response.
          Basically, loan amount is depends on the Surrender value. Surrender value is calculated based on some calculations. So, loan amount is neither depend on premium paid so for nor, sum insured. Since your policies are running close to 20 years, you MAY get 80-90% of the premiums paid so far ( Though i am not exactly sure ). Loan can be given to the policy holder only. And, there is no relation between LIC housing finance and LIC insurance though they both are under same company/brand name. They both are 2 branches of LIC. You can get home loan if your name included as co-applicant/co-borrow while applying for home loan.
          I hope I answer your query. Feel free to revert back for more details.

  159. ajay kumar sharma
    May 23, 2015 at 4:54 am · Reply

    sir.good morning.i have 2 policy in bhilai one is jeewan aannand and 2nd is jeewan samriddhi .I pay both policy premium is 2459 quarterly. one policy is money back..how much can I take the loan against this policy .

    • Pradeep Daram
      May 25, 2015 at 10:56 am · Reply

      Loan against money back policy is not possible. You can only take loan against jeevan anand out of your 2 policies.

  160. binod
    May 22, 2015 at 8:55 am · Reply

    Hi Pradeep,

    1. I have two LIC policy Jeevan anand and Jeevan saral for 20 Years. It is running since 2 years , I just want the information that after maturity is it necessary to show the same bank details which was used to open the account. For you information I had given the bank cheque for my first premium of Kotak Mahindra Bank. But recently I have closed the same bank account. Will I face the problem while withdrawing the matured amount after 20 years.

    2. Is the LIC , India will ask the bond to be submitted as a proof when the maturity get completed?

    3. I have the policy in pune branch, but I want to get this policy to transfer in Delhi region and also wanted to upate the bank details, what will be the procedure

    • Pradeep Daram
      June 10, 2015 at 10:59 am · Reply

      Hi,

      Below are the answers to your queries:

      1. I have two LIC policy Jeevan anand and Jeevan saral for 20 Years. It is running since 2 years , I just want the information that after maturity is it necessary to show the same bank details which was used to open the account. For you information I had given the bank cheque for my first premium of Kotak Mahindra Bank. But recently I have closed the same bank account. Will I face the problem while withdrawing the matured amount after 20 years.

      No, its not a problem. When your policy gets matured, they will ask the bank account details to which you want the money to be transferred. If you don’t want online transfer, they give you check. So, dont worry about closed bank account.

      2. Is the LIC , India will ask the bond to be submitted as a proof when the maturity get completed?

      Yes.

      3. I have the policy in pune branch, but I want to get this policy to transfer in Delhi region and also wanted to upate the bank details, what will be the procedure
      I don’t think, it is possible, but, i will get you more details on this asap.

  161. Atush
    May 21, 2015 at 1:00 pm · Reply

    I have taken jeevan anand policy in 2008, paying 2535 monthly via ECS. How much Loan am i eligible for and how much interest will i need to pay every 6 months?

    and i foreclose this loan amount by paying a lumpsum in future?

    • Pradeep Daram
      May 25, 2015 at 10:59 am · Reply

      You can easily get 1.2 lakh loan against your jeevan anand policy. You can foreclose your loan at any time. There won’t be any problem in that. For interest rates,etc…please go thru this article once.

  162. narendra diwan
    May 21, 2015 at 12:52 pm · Reply

    my lic premium is 13000 par annuam and i complated 3 years and 2 month, so how much loan can i get?

  163. vikrant
    May 21, 2015 at 6:31 am · Reply

    Hi Pradeep,

    I have jeevan prakash policy and paying 64000/- for almost 9 years now. How much loan amount I can get?

    Thanks,
    Vikrant

    • Pradeep Daram
      May 21, 2015 at 9:37 am · Reply

      I am sorry, i don’t have idea about Jeevan prakash policy.

  164. swapan paul
    May 16, 2015 at 9:52 am · Reply

    can i get loan from LIC policies of my wife?what are the documents that i have to arrange ..any url to check?

    • Pradeep Daram
      May 21, 2015 at 9:33 am · Reply

      You need to have original LIC agreement bond. Thats it.

  165. narendra sharma
    May 15, 2015 at 1:35 pm · Reply

    Sir i started jeevan surabhi policy 2003 i pay 4447 rupee half yearly…. i get75000 rupee as money back ….how much loan i get now..

    • Pradeep Daram
      May 21, 2015 at 9:37 am · Reply

      I am sorry, i don’t have idea about Jeevan Surabhi policy.

  166. satya
    May 13, 2015 at 9:04 pm · Reply

    hi i have taken jeevan anand policy of 5 lacs 20 yrs in 2013.paying annual premium of 24203.still now paid 3 years.vested bonus is showing 24000 rupees.how much amount can i get as loan

    • Pradeep Daram
      May 21, 2015 at 9:35 am · Reply

      If you have already paid 3rd year premium, you can get loan. You can get loan against your policy upto 35K approx.

  167. Rajaram
    May 13, 2015 at 10:14 am · Reply

    Hi Pradeep,

    Do we have option of online repayment for the loan amount that we got against policy.

    • Pradeep Daram
      May 21, 2015 at 9:35 am · Reply

      No. We do not have online repayment of lic premium amount.

  168. chhavi verma
    May 12, 2015 at 1:11 pm · Reply

    i have money back plan with 5 years of Rs.789/- for beema gold return of Rs.7500/- in 4 years & jeevan bharti return of 11000/- in five years and in need loan of Rs.20000/- can i take loan on these policy.

    • Pradeep Daram
      May 21, 2015 at 9:36 am · Reply

      I don’t think, you are eligible for loan. Usually, loan against money back policies is not supported.

  169. surekha
    May 12, 2015 at 6:26 am · Reply

    mai oct-2013 se 3 mahine ka 600 lic pay karti hu muje uspe kitna loan milega pls batana

    • Pradeep Daram
      May 12, 2015 at 8:33 am · Reply

      You need to finish minimum 3yrs to get loan.

  170. Vishal D.
    May 11, 2015 at 3:29 pm · Reply

    Hi Pradeep,

    I have 2 jeevan saral policies having annual premium 6120 each since september 2011.

    Till now, i have paid around 44000 rs. for both policies since september 2011.

    How much loan i can get now ??

    • Pradeep Daram
      May 12, 2015 at 8:35 am · Reply

      You can get maximum of 20,000 rupees. For more clear info, call to LIC customer care service.

  171. bazeem
    May 11, 2015 at 7:22 am · Reply

    Hi Pradeep,

    I have jeevan anand policy and paying 27000/- for 9 years. How much loan amount I can get?

    Thanks,
    Bazeem

    • Pradeep Daram
      May 12, 2015 at 8:35 am · Reply

      You can get nearly 2 lakh rupees loan against your LIC policy.

  172. H.Y.Sheshadri
    May 8, 2015 at 11:26 am · Reply

    Sir how may days LIC required to sanction loan against Policy? Question is I applied for loan on my policy on 11.4.2015 submitted loan application along with original plicy and a stale cheque in No.612 Civil Station Branch, Bangalore. But till today (08.05.2015) I have not heard anything. I sent a mail to Civil Station Branch to the mail address given in LIC website. I have been trying over phone for the last 20 days but nobody is lifting the phone. I do not know what to do. Please help.

    HY sheshadri, 9986187097

    • Pradeep Daram
      May 12, 2015 at 8:37 am · Reply

      It hardly takes 5 working days to deposit your loan amount to your given bank account. Looks like something went wrong, please visit the same branch and inquire about the status in person.

  173. Srinivas
    May 6, 2015 at 9:27 am · Reply

    Hi Pradeep,
    I have Jeevan Anand policy taken in 2007 and the premium is 25173. Till now I have paid 8 premiums and the total tenure was 15 years and sum assured was 500000 if I remember correctly. Could you please suggest whether this policy is good to keep or surrender right away since I have heard mixed opinions on this policy?

    • Pradeep Daram
      May 12, 2015 at 8:39 am · Reply

      There are both positives and negatives for LIC policy. It depends on how you consider LIC policy. If you want more details, please revert back.

  174. veera
    May 4, 2015 at 8:51 am · Reply

    Hi Pradeep,

    I am Paying 78986 Per Year so Almost 3.5 Years completed ..What will be the loan Amount if I wish loan from Lic? Please revert Fast ..Thanxs..

  175. shailesh Brahmbhatt
    May 2, 2015 at 3:41 pm · Reply

    I am Paying 74000 Per Year so Almost 4 Years completed ..What will be the loan Amount if I wish loan from Lic? Please revert Fast ..Thanxs..

  176. Shijil
    April 29, 2015 at 9:42 am · Reply

    Hi!
    I have Jeevan Shree policy with a semi annual premium of 12,498/- since year 2000 and New Endowment policy with a annual premium of 13,900/- approx since year 2001. I request answers on following:-
    1) How much loan amount am I entitled too?
    2) Is the interest simple or compounded?
    3) What is the approx amount I will get on maturity of Jeevan Shree in year 2025 and New Endowment in year 2035?
    4) What is the amount my nominee is entitled to at this point of time?
    Thanking you in advance.
    Regards,
    Shijil

    • Pradeep Daram
      May 4, 2015 at 3:16 am · Reply

      Hi,

      I am really sorr, i couldn’t help you on Jeevan Shree policy.

  177. Parveen Kumar
    April 28, 2015 at 5:14 am · Reply

    Sir,

    I have a Jeevan Anand policy with a half year premium of Rs. 8200/- for a term of 20 years. I started policy in 2010.

    Now I want to surrender this policy. I have paid upto december 2014.

    How much surrender value I will receive from LIC.

    • Pradeep Daram
      May 4, 2015 at 3:18 am · Reply

      You will loose lot of money if u surreder your lic policy. If you feel your money is getting waste with lowest returns, you can take loan against your policy and invest in where you get huge returns.

  178. B.RAJA
    April 27, 2015 at 10:41 am · Reply

    dear

    I have (Jeevan Saral) policy from2011dec for 7,50000/-monthy 3062 premium paying it runing how much loan i get agst this policy

    Thanks

    • Pradeep Daram
      May 4, 2015 at 3:20 am · Reply

      If you get let me know the surrender value, i can give some rough estimates about your loan. We can’t guess jeevan saral policy surrder value since they won’t give any consistent bonus to policy holders. you can get surrender value from lic call center.

  179. srikanth
    April 22, 2015 at 8:10 am · Reply

    Hi Pradeep,

    If i am going to take loan on my policy is it going to be updated in Cibil. In the feature if iam going for any Loan bank then the loan on policy will be consider as personal loan or how they r going to consider this loan amount.

    Thanks & Regards,
    Srikanth.J

  180. jai
    April 18, 2015 at 5:39 pm · Reply

    Sir
    I have jeeean saral policy from five years I want loan can I eligible and how much

  181. shankar s
    April 15, 2015 at 3:17 am · Reply

    i want surrender on of policy am paid for 4 years after that am stopped now i want surrender that then for that wat i need to do………… can u suggest me please

  182. mansoor ahmed
    April 7, 2015 at 6:57 pm · Reply

    Hi mr.pradeep.

    I am having jeevan anand policy, paying a premium of 17,500 half yearly.(.i.e 35000/- yearly). Premium paying since 2007. Can u advise how much loan i can get. Do they also include the bonus while calculating loan amount?

    • Pradeep Daram
      April 9, 2015 at 7:04 am · Reply

      Hi,

      Since you have completed nearly 7years, you can get up to 80% of the jeevan anand policy premium amount you have paid. If you calculately, 35000 * 7 = 2,45,000. So, you can easily get upto 2 lakh loan.
      Bonus amount WILL NOT be included while calculating loan eligibility amount.

  183. S SUMAN
    March 31, 2015 at 6:27 am · Reply

    IN WHICH PLAN IS BETTER BETWEEN NEW JEEVAN ANAND & NEW ENDOMENT PLAN,
    T-815 & T- B14

    • Pradeep Daram
      April 4, 2015 at 3:42 pm · Reply

      I m not an LIC agent. so, i won’t the information about the codes, T-815 & T-B14. So, please let me know the policy name. So that, i can give you more understanding about the policies. I know about Jeevan anand. So, please let me the NEW ENDOWMENT PLAN name which were talking about.

  184. Ram
    March 30, 2015 at 6:12 am · Reply

    Hi Pradeep,

    I have LIC Jeevan Anand and I already had a loan against my policy. Please let me know 2 things:
    1. My Policy was Laps, can I continue the policy without paying the loan in full and by paying the pending premiums.
    2. Can I re-pay my loan amount Online? If yes, what is the procedure? Can I pay it as I pay the policy premium by giving reference of policy? If yes, then how would I know it is the loan repayment or policy premium?

  185. anubhav
    March 29, 2015 at 8:32 am · Reply

    hi Mr Pradeep,

    i took loans against 5 Lic policies , 2 years back and 2 days back i got a message that kindly pay you r interest to avoid policy foreclosure..i m unable to find out how much interest i need to pay against each policy..can i get the help online ??

    • Pradeep Daram
      April 4, 2015 at 3:44 pm · Reply

      No. You can’t . you must visit your LIC branch to know about the details.

  186. Gokul Nair
    March 21, 2015 at 5:10 pm · Reply

    Hi padeep, there is a small correction on the given details. My QUARTERLY premium is 6281/-

    Regards
    Gokul

  187. Gokul Nair
    March 21, 2015 at 5:07 pm · Reply

    Hello Pradeep, I have a jeevan tarang policy. I had paid premium for last 3 and a half year. My yearly premium is 6281/-. Can i avail loan against this policy??

    • Pradeep Daram
      March 23, 2015 at 6:59 am · Reply

      I am sorry gokul . I not sure about that policy.

  188. Pankaj Patil
    March 20, 2015 at 1:20 pm · Reply

    hii pradeep

    i m having jeeven saral policy..1021 Rs monthly ..total 3 years 6 months emi paid..that is 42800 Rs.how much i can get loan on this???

    • Pradeep Daram
      March 23, 2015 at 7:01 am · Reply

      I am not sure about jeevan saral policy.

  189. abhi
    March 19, 2015 at 6:46 pm · Reply

    Mere pass jeewan anand policy hai 22 year ki mai saal me 12806 rs pay karta yearly till 2010,tab meri agev20 year thi.mujhe maturity par kitta milega paisa

  190. abhi
    March 19, 2015 at 6:44 pm · Reply

    Hi mai ek saal me 12806 rs pay karta hu from march 2010 mujhe kitna loan milega aur repay kaise karna padega plz suggest i want to take loan

    • Pradeep Daram
      March 23, 2015 at 6:56 am · Reply

      you can only get upto 20,000 ( approx) loan amount. You need to pay interest amount for every 6months.

  191. veera
    March 19, 2015 at 12:08 pm · Reply

    Hi Pradeep,

    I have taken jeevan anand policy 2012 half yearly i paid amount is 39,180 ruppes.i paid 2012,2013 only.i didn’t pay 2014 amount. i tried pay amount through net banking but iam not able to pay the lic premium amount.

    Can you guide me,how to pay premium amount for 2014 and any interest is there.is there ,how much interest they have taken.

    Regards
    Veera.

    • Pradeep Daram
      March 23, 2015 at 6:59 am · Reply

      You CAN pay premium amount thru online. I think, you might have faced problem with LIC website when you were trying. Just try again.
      Yes, they do charge late payment fee if you miss grace period time also ( grace period is approx 1 month )

  192. Ruba
    March 13, 2015 at 6:13 am · Reply

    Sir i’m paying rs.4219 quarterly on jeevan anand policy from Dec2010.now i have a plan to avail loan on it.whether it is possible & how much i’ll get from it

    • Pradeep Daram
      March 16, 2015 at 11:49 am · Reply

      Yes, it is possible.You may get loan around 25,000.

      • vairavel
        April 10, 2015 at 8:02 am · Reply

        hi sir ,
        I have received the lone amount Rs – 3,40,000/- . the interest is how much per month sir.

        • Pradeep Daram
          May 4, 2015 at 3:24 am · Reply

          Its 10% per ANNUM. For more details, just go thru the above article again. You will find more information.

  193. RAJESH
    March 12, 2015 at 2:11 pm · Reply

    HELLO PRADEEP SIR

    ARE YOU SURE THAT NO LOANS ARE THERE FOR MONEY BACK POLICIES.
    BECAUSE YOU HAVE MENTIONED SOO.
    IAM TRYING A LOAN FOR MY MONEY BACK POLICY WHICH WAS STARTED ON 3dr 1999 AN ANNUAL PREMIUM IS 26,724. NOW IT IS ALMOST 15 YEARS COMPLETED.
    IF LOAN IS ALLOWED WHAT WILL BE THE MAXIMUM LOAN AMOUNT THAT I CAN GET.
    PLEASE LET ME KNOW.

    REGARDS
    RAJESH

  194. Christopher Philps
    March 9, 2015 at 1:25 pm · Reply

    hai pradeep i have a money back policy i am trying to get a loan
    will it get done

    • Pradeep Daram
      March 12, 2015 at 10:29 am · Reply

      No. You will get loan on endowment policies. I m not sure about money back policy.

      • Sunil
        March 14, 2015 at 2:09 pm · Reply

        Hi Pradeep,

        I want to pay my loan back, which I was taken in Dec 2012 about 91K, Can you please tell me How much it will be now(I did not pay any interest till now). How should I pay that through online and How I will get my bond back thatI submitted while taking loan.

        Thanks,
        Sunil

        • Pradeep Daram
          March 16, 2015 at 11:48 am · Reply

          You can’t pay that thru online. You must visit your home branch ( where you have submitted your bond while taking the loan )and pay the amount. I am not sure how much interest it would have been now. Because, each time you miss the payment, it will be considered as principal again and interest will be charged on it too, if I am not wrong.

  195. Naresh
    March 9, 2015 at 12:42 pm · Reply

    Hi Pradeep,

    I have Jeevan Anand Policy paid one year premium and its lapsed, is it better to revive this policy or not. Please suggest me.

    • Pradeep Daram
      March 12, 2015 at 10:30 am · Reply

      If you wish to continue the policy, better to revive instead of taking another one. I heard LIC is giving fine amount wave of for the lapsed policy if they would like to continue. Please check with your agent or LIC branch. I am not sure .

  196. VINAY CHANDRA
    March 9, 2015 at 7:14 am · Reply

    Hi Pradeep

    having TWO policy – plan as “Endowment Assurance Policy”

    1. Premium as 2604 since from 2006
    2. Premium as 2728 since from 2006

    Please let me know eligible amount for loan …
    Thanks
    VINAY CHANDRA

    • Pradeep Daram
      March 12, 2015 at 10:32 am · Reply

      I am sorry vinay. I don’t have idea on this plan. 🙁

  197. deepak negi
    March 8, 2015 at 3:06 am · Reply

    sir i am paying 8115 from 2013 32460 per anuum what amount i cn apply for lone

    • Pradeep Daram
      March 12, 2015 at 10:33 am · Reply

      You are not eligible for the loan since you have not yet completed full 3 yrs tenure of the policy.

  198. thanmai
    March 1, 2015 at 11:05 am · Reply

    sir we took 2 lakh loan on lic jeevan anand policy before 3 days…. now we want to return that 2 lakh amount….does they will take it or is there any terms and conditions????????????? please tell us

    • Pradeep Daram
      March 12, 2015 at 10:35 am · Reply

      No terms & conditions.
      You can directly go and pay the amount. Only thing is, you may need to pay interest from the day the amount is credited to your account. In your case, 3 days.

  199. Vishnu Gupta
    March 1, 2015 at 8:26 am · Reply

    Hi Pradeep
    I have 4 LIC policy of Jeevan Saral from last 4years pay 1021 each for 4 policy
    I am looking for personal loan of 4 lacs rupees
    Am I eligible
    How can i apply?
    waiting for your reply

    Many Thanks,

    • Pradeep Daram
      March 12, 2015 at 10:36 am · Reply

      How much annual premium you are paying for each policy?

  200. shwetha
    February 27, 2015 at 12:28 pm · Reply

    hi Pradeep,

    LIC policy i have , last 6month back i did, Can i get loan on that,,,,,,

  201. Nag
    February 26, 2015 at 9:11 am · Reply

    Dear Sir,

    I am Started paying My Jeevan Anand Policy from Feb 2012. My annual premium is Rs. 51,122. Till now i have paid Rs. 2,04,488 and vested bonus is showing Rs. 1,43,000.
    Can i get loan against my policy, If yes, how much i can get.
    How can i apply for the loan, Can i apply through online.

    • Pradeep Daram
      February 27, 2015 at 9:51 am · Reply

      Yes, you can apply for loan if you would have paid your February,2015 premium. You can get only 50% of your premium paid amount. And, you can’t apply through online 🙁

  202. Neelesh Lodhee
    February 24, 2015 at 2:54 am · Reply

    Hi sir
    I have endowment assurence policy since Jan 2011 .I want loan how much loan get me and interest rate.

    • Pradeep Daram
      February 27, 2015 at 9:51 am · Reply

      Interest rate is 10% per annum as per my knowledge.

  203. chandu
    February 23, 2015 at 10:00 am · Reply

    Hi Pradeep,

    I have Jeevan anand policy starts from 2011 now it completes 4 years. I am paying 60,000 per annum. Can i avail a loan from it?

    Thanks,
    Chandu

  204. Sunil
    February 23, 2015 at 5:25 am · Reply

    Hello Mr. Pradeep,
    Can you please provide formula for calculation loan eligibility for LIC Policy?

    Thanks
    Sunil

  205. Murugan k
    February 22, 2015 at 4:13 pm · Reply

    Dear sir,
    I have jeevan anand policy started on 2011. I am paying 50K annually. Now 4yrs completed (tenure-21 yrs). My paid amount is Rs.2,00,000 & vested bonus is Rs.1,43,000. I Could not continue the policy in future. I have 10L house loan. so I am planning to terminate my policy. How much amount i can get?

    • Pradeep Daram
      February 23, 2015 at 9:09 am · Reply

      Please read the comments below. I gave clear details. If you are not sure, feel free to revert back to me.

      • Murugan k
        February 23, 2015 at 3:15 pm · Reply

        sorry sir, I can’t get the correct answer. pls help me.

        Thanks.

        • Pradeep Daram
          February 27, 2015 at 9:56 am · Reply

          I am really sorry murugan, somehow i lost your query. Can you please repeat again?

          If your question is exactly as “I have jeevan anand policy started on 2011. I am paying 50K annually. Now 4yrs completed (tenure-21 yrs). My paid amount is Rs.2,00,000 & vested bonus is Rs.1,43,000. I Could not continue the policy in future. I have 10L house loan. so I am planning to terminate my policy. How much amount i can get?”, below is my answer:

          Don’t consider vested bonus at all. You will get that amount only when your policy matures. So, for now, forget about it. There is another thing called “surrender value”. You will get only surrender value amount if you terminate the policy. You can get your surrender policy amount through LIC call center. As per my guess, it will be approximately 1L only.

  206. RAvindra
    February 21, 2015 at 6:25 am · Reply

    Dear pradeep sir i have policy started at 21/03/2011 how much i can avail the loan (premium 864/- per month)

  207. senthil
    February 21, 2015 at 6:19 am · Reply

    Hi Pradeep

    having three policy – plan as “Endowment Assurance Policy”
    1. Premium as 1300 since from 1996
    2. Premium as 1,231.00 since from 1982
    3. Premium as 489.00 since from 1987

    Please let me know eligible amount for loan …
    Thanks
    Senthil

    • Pradeep Daram
      February 23, 2015 at 9:08 am · Reply

      Hi Senthil,

      I am sorry, i can’t give any rough estimation since your policies have completed major portion of maturity period. You can get full clarity from LIC call center.

  208. Sreenu Surya
    February 20, 2015 at 9:31 am · Reply

    I have LIC JEEVAN ANAD plan no:149. Bond value is Rs.500000/-. My yearly premium is Rs.36162/-. I started on JAN-2011. Shall I get loan against my policy. If, how much I will get and what is he interest rate?

    • Pradeep Daram
      February 20, 2015 at 12:31 pm · Reply

      interest rate is 10% p.a on loan on jeevan anand policy. Yes, u can apply for loan. You can get approx: 70,000 rupees.

  209. vijay
    February 19, 2015 at 11:19 am · Reply

    i hvae jeevan saral and jeevan tarang policy can i get loan on both the policies

  210. msr
    February 17, 2015 at 8:16 am · Reply

    Hi

    I had Jeevan Saral policy and completed 6 terms by mar ’15 and i want to go for loan in after making the 6th term premium.

    as you said there is no possible to take loan in another branch.

    How to transfer the policy from one branch to another branch

  211. Banshidhar
    February 16, 2015 at 9:22 am · Reply

    Hi Sir,

    For LIC loan whether i need to go to my original branch or i can avail loan from any branch just submitting my LIC bond. Please guide me

    • Pradeep Daram
      February 17, 2015 at 5:16 am · Reply

      You must go to your LIC original branch to submit your bond.

  212. mrinal
    February 13, 2015 at 2:57 pm · Reply

    Hi pradep i have a lic money back policy i am payin 26600/m now i have complited 3 year hhow much loan will i get from the same

    • Pradeep Daram
      February 17, 2015 at 5:17 am · Reply

      I don’t think, money back policy is eligible for loan. Only endowment policies are eligible for loan. Anyways, i will get back to you with more details.

  213. Prateek Mohanty
    February 13, 2015 at 8:59 am · Reply

    Dear Sir,

    Is it mandatory to take the agent’s signature on form? What if it is a old policy and the agent whereabouts are not known.

    • Pradeep Daram
      February 19, 2015 at 8:58 am · Reply

      No. Agent’s signature is not mandatory. Just go to the branch and ask for loan. They will handover the application. Just fill and submit. They will do rest of the things.

  214. kapil
    February 12, 2015 at 6:47 pm · Reply

    Hi pradeep,
    I want to take loan against my policy, is it necessary that i should have to go home branch to apply it. Or i can do from any branch and one more signature of agent required from which i purchase policy is manadatory or any agent signature is ok.

    • Pradeep Daram
      February 19, 2015 at 9:05 am · Reply

      You must visit your home branch only to apply for loan. Agent’s signature is not mandatory. It requires gazetted/witness signature. Just goto branch with original bond, id proof and pen . Thats it.

  215. Swapnil
    February 11, 2015 at 11:05 am · Reply

    Dear Pradeep Sir,

    I have Jevan Saral Policy , registered from the year 2008 of Rs.2,50,000/ – and i pay Quaterly Premium Rs.3062 /- that sums upto Rs.12248 /- annually. How much will get a loan approximate. How can i calculate my surrender value of my policy

    Kindly help me out , or can i get a loan on my Money Back Policy of Rs.2,00,000/-

    Swapnil Sawant

    • Pradeep Daram
      February 19, 2015 at 9:06 am · Reply

      You can get actual surrender from call center officers. You can get loan upto 80-90% of surrender value.

  216. Venkata Ramana
    February 11, 2015 at 8:59 am · Reply

    Is there a way that I can reduce my policy term by which I reduce my SA ?

    • Pradeep Daram
      February 19, 2015 at 9:06 am · Reply

      Not possible to reduce/increase the tenure.

  217. Theja
    February 10, 2015 at 9:52 pm · Reply

    I am planning to take a loan on LIC policy. After taking loan by temporarily surrendering the policy. Do, I need to pay yearly premium as well as interest on loan half yearly.

    • Pradeep Daram
      February 11, 2015 at 4:34 am · Reply

      Yes. You are surrendering your policy as a surety to your loan against your LIC policy.Rest of things won’t change. When you pay your loan principal amount, you will get your LIC policy bond/agreement.

  218. Jayaram
    February 10, 2015 at 11:22 am · Reply

    Hi Pradeep,

    Thanks for all the info. Really appreciate the effort. Below is my policy details.

    Policy name: Jeevan Anand
    Start date: August 2011
    Accumulated premium: 2,22,924
    Bonus accumulated: 1,19,000

    Total amount: 3,41,924

    So its been more than 3 years. So I know I’m eligible for loan.
    My question is: How much loan I will get?
    Or If I surrender my policy, how much I may get?
    And what is the current interest rate for loan?

    Thanks in advance,
    Jayaram

    • Pradeep Daram
      February 11, 2015 at 4:39 am · Reply

      Hi Jayaram,

      Don’t consider bonus accumulated amount for any reason till your policy gets matured. You will get only 50%-80% of the surrender value your policy. % varies based on the completed tenure. And, surrender value of your LIC policy will always be less than your total paid premium amount.

  219. Soumya
    February 9, 2015 at 6:05 am · Reply

    Hi,

    Is it possible to pay the loan interest taken against the policy through online portal?

    Thanks.

  220. Surender Thakur
    February 9, 2015 at 5:50 am · Reply

    can i pay interest / emi againstpolicy loan through online payment. OR have to go to branch everytime

    • Pradeep Daram
      February 11, 2015 at 4:35 am · Reply

      You have to goto LIC branch to pay interest amount. Online payment option isn’t there for interest amt.

  221. Byregowda
    February 9, 2015 at 5:30 am · Reply

    Dear Praddeep

    I have 3 Jeevan anand policies and all are crossed more than 5 years.
    Now,planning for loan.Whether bonus amount also contribute for loan ???

    • Pradeep Daram
      February 11, 2015 at 4:36 am · Reply

      No. Bonus amount will not be considered 🙁 . Loan will be given to you against your LIC policy surrender value. Forget about bonus amount till your LIC policy gets matured 🙁

  222. kavita H.
    February 4, 2015 at 10:12 am · Reply

    dear Mr. Pradeep.

    Pls reply to Query’s.
    1. I have received the loan amount of rs 36,065 against my policy.on 23rd January,2015. My policy was started in January 2011,

    1. whats interest I have to pay and when, twice in year ie every Six months so which are these months ?.

    2. Do I have to Pay interest rate till 2023, as my policy is maturing on 2023?

    3. My L.I.C loan was passed by my home branch in Bombay, But I am currently working in Ahmedabad. So Is it have to visit Bombay every 6 months for paying interest. ?

    • Pradeep Daram
      February 5, 2015 at 12:57 pm · Reply

      Hi,

      The interest rate is approx. 10% per annum. Interest will be charged from the day your loan amount credited to your account. Ideally, you have to interest at every 6 months. If you don’t pay interest at 6 months, the same ( interest amount ) will be considered as principle, and interest will be calculated for the same along with the actual principal amount.
      You will have to pay interest till you close your loan. If you have enough amount, you can go to your home branch , pay the whole amount and close your loan. You don’t need to wait till it get matured.

      You CAN pay interest at any LIC branch. You don’t need to go to your home branch just to pay interest amount.

      I hope this clarifies everything. If you have any more doubts, feel free to revert back.

  223. yuvaraj
    February 2, 2015 at 9:37 am · Reply

    dear sir
    I have jeevan anand policy started on 2008. I am paying 8392.00 annually. Now i am paid sum of rupees 58744. any bonus is added my policy.
    How much loan i can get against the policy. Please help.

    • Pradeep Daram
      February 5, 2015 at 12:59 pm · Reply

      I won’t have any information on how much bonus is added to your LIC policy. But, you can check the same after logging into your online account.
      You can get approx. 45,000 rupees loan.

  224. navneet
    February 1, 2015 at 1:46 pm · Reply

    sir i wants loan against 3 policy, one is 4 year old jeevan saral, one is jeevan anurag 8 year and another one nav jeevan sree is 11 year old. how much loan i can get against my policy premium.

    • Pradeep Daram
      February 5, 2015 at 12:59 pm · Reply

      You can get minimum of 50% of the total premium amount maximum of 90% of the total premium amount.

  225. Manish Bhatti
    February 1, 2015 at 5:32 am · Reply

    Dear Pradeep,

    I have three policies. Please have the details of them:

    Paid premium for 3 years. Total premium paid is rs 2,25,354/-

    Please help me to get an rough estimate – how much I can get loan against my above polices

    Please reply at your earliest. Thanks in advance.

    Regards,
    Manish Bhatti

    • Pradeep Daram
      February 5, 2015 at 1:00 pm · Reply

      You can get minimum of 1,20,000 rupees loan.

  226. brajshekhar Kumar
    January 30, 2015 at 3:24 pm · Reply

    Hi
    I have taken lone from lic from my policy. Four time premium paid 240000. Lone taken 140000. One year ago. I have no money to pay interest rs 20000 or lone capital or premium. How can get my rest amount 100000. Without loss. If I surrender my policy lic will give me only 15278 only now .

    • Pradeep Daram
      February 5, 2015 at 1:06 pm · Reply

      You don’t have any other option. You have to wait.
      Yes, you will lose some of your money if you surrender your LIC policy at this stage.

  227. siva
    January 30, 2015 at 10:59 am · Reply

    Sir i took LIC Policy Jeevan Anand in Dec’2005 and Took loan there on in 2012

    And have LIC Personal login but there is no any option pls. tell me how to check status of loan

    • Pradeep Daram
      February 5, 2015 at 1:06 pm · Reply

      You can’t check your loan information thru online. You must go to LIC branch for details.

  228. mohamed
    January 29, 2015 at 10:50 am · Reply

    Hi Pradeep, I have Jeevan Shri policy since Nov 2009 and paying annual premium of INR 25648. I think the vested bonus accumulated is around 1.25 Lacs. Can you please tell me if I’d be eligible for a loan from LIC and how much amount could I expect ?

    • Pradeep Daram
      February 5, 2015 at 1:09 pm · Reply

      Yes, you are eligible to get the loan. And, you can get minimum 1L as per my knowledge.

  229. krishnendu sarkar
    January 28, 2015 at 11:02 am · Reply

    my premium is rs 5800 ,i have paid 5years my question is how much loan i can get and my policy is jeevan sathi,

    • Pradeep Daram
      February 5, 2015 at 1:08 pm · Reply

      I am really sorry , i can’t give any approximate details. The only best way is to call to LIC call center. So that, you can get clear details.

  230. Rajendra Faujdar
    January 28, 2015 at 10:12 am · Reply

    Hi Pradeep,

    I have jeevan anand policy started on 2011. I am paying 26847.00 annually. Now 4yrs completed.
    How much loan i can get against the policy. Please help.

    • Pradeep Daram
      January 28, 2015 at 10:23 am · Reply

      Hi Rajendra,
      You can get upto 70% of the total premium amount paid by you which is approx: 70,000 rupees, . If I am not wrong, you must have got vested bonus also by this time.

  231. Manoj Singh
    January 27, 2015 at 3:09 pm · Reply

    Hi Pradeep,

    I have jeevan anand policy started on 2011. I am paying 15K annually. Now 4yrs completed.
    How much loan i can get against the policy. Please help.

    • Pradeep Daram
      January 28, 2015 at 9:10 am · Reply

      You can get upto 30,000-35,000 rupees loan against your jeevan anand policy.

  232. palanichamy
    January 27, 2015 at 10:34 am · Reply

    i have New Bima Gold policy started on 2009. I am paying 10,346/ year.
    How much loan i can get against the policy.

    • Pradeep Daram
      January 28, 2015 at 9:15 am · Reply

      I am sorry. I have no idea about New Bima policy. One thing i can tell you is, you can take loan against your policy.

  233. shashi
    January 27, 2015 at 7:46 am · Reply

    i didnt get loan so what i do sir? and how much amount i get

    • Pradeep Daram
      January 28, 2015 at 9:11 am · Reply

      I am really sorry, i am unable to understand your English. you can try to type in hindi . So that, i can answer you clearly.

  234. shashi
    January 26, 2015 at 7:32 am · Reply

    sir , you do not response. I apply for loan on 1/1/15 so how much time we get loan? I had paid 27000rs since1998 so how much amount we get

    • Pradeep Daram
      January 27, 2015 at 4:34 am · Reply

      Usually, loan will be approved within 5 working days. I think, you should have got it by this time.

  235. sana
    January 25, 2015 at 9:31 am · Reply

    Hi,

    I have paid around 30,000 yearly premiums for 4 years so far… how much loan can be obtained on LIC jeevan anand policy?

    • Pradeep Daram
      January 27, 2015 at 4:35 am · Reply

      You can get minimum of 60,000 rupees loan against your lic jeevan anand.

  236. vijay badhai
    January 24, 2015 at 9:57 am · Reply

    Hi pradeep,
    My policy was jeevan saral & i had started it from dec 2011 with 58890 as yearly premium , can i get a loan now and how much amt would i get , pls let me know at which interest rate , ?

    • Pradeep Daram
      January 27, 2015 at 4:39 am · Reply

      Please go through this article again. You have all the information you need.

  237. ramesh
    January 23, 2015 at 6:31 am · Reply

    i have jeevan anand plan, yearly premium is 24504 which is going to complete 3years coming may 2015 if i apply for loan howmuch i can get

  238. shashi
    January 23, 2015 at 6:27 am · Reply

    sir, i took loan on jeevan anand policy at 1/1/15.in how much days we get loan . i took policy in 1998 and yearly premium is 28000rs so how much money we got?

  239. shouvik
    January 22, 2015 at 4:10 pm · Reply

    i want a loan against my policy. my policy is money back. my policy name is new bima gold. at present policy total amount is 11896.00 after one money back rs, 20000.i am pay 18 no. quater.my polycy mony 1822. what amount i am loan.

    • Pradeep Daram
      January 28, 2015 at 9:14 am · Reply

      As far as i know, loan option is not there under money back policy. It will be applicable only for endowment policies.

  240. lakshv
    January 22, 2015 at 9:15 am · Reply

    I have jeevan anand policy and yeraly premium is 20200 (5L policy)and started policy in 2005. How much loan I can get on this now.

    • Pradeep Daram
      January 22, 2015 at 10:26 am · Reply

      Approximately 1.5L.

      • lakshv
        January 22, 2015 at 11:09 am · Reply

        i have vested bonus 2L..is loan still 1.5L? any dependency on vested bonus?

        • Pradeep Daram
          January 27, 2015 at 4:38 am · Reply

          If you have more bonus, your loan eligibility amount will be more.

  241. Mahesh Swamy
    January 22, 2015 at 6:35 am · Reply

    Sir, can I avail loan against my policy from any other LIC branch other than my Home branch.

    Mahesh Swamy
    Bidar

    • Pradeep Daram
      January 27, 2015 at 4:37 am · Reply

      No. As per the information i have, you must goto your home branch only to apply for the loan

  242. debdutta moshel
    January 21, 2015 at 3:10 pm · Reply

    I have jivan anand policy.its going to completed 3 years on april2015 my yearly primium is18600. How much loan i can get and how much i want to paid for this loan ammount in a year

    • Pradeep Daram
      January 21, 2015 at 4:30 pm · Reply

      You can apply for loan against your Jeevan Anand policy after completion of 3 years. You may get 50%-60% of the total paid premium amount.

  243. Ankit
    January 20, 2015 at 7:02 pm · Reply

    I have a Jeevan Anand policy in which i pay 80000/- premium yearly. Policy was started in 2007. How much amount of loan will i be eligible for ?

    • Pradeep Daram
      January 21, 2015 at 4:31 pm · Reply

      Now, you can get upto80% of the total premium paid since, you might have accumulated good amount of bonus on your jeevan anand policy.

  244. raghu
    January 20, 2015 at 7:22 am · Reply

    I am having a jeevan anand plan going tocomplete 5 years on feb 2015. my yearly premium is 12935, how much loan i can get.

    • Pradeep Daram
      January 20, 2015 at 12:30 pm · Reply

      You can get upto 50,000 rupees against your jeevan anand policy.

  245. V N Reddy
    January 19, 2015 at 10:23 am · Reply

    Hi Pradeep ,

    i have Jeevan anand Policy since 2011, i paid 4 premiums , 43153*4 = 172612 , can you please let me know how much loan i can avail and required documents for processing loan.

    • Pradeep Daram
      January 20, 2015 at 12:42 pm · Reply

      Since you have just completed 3 years, you can get only up to 50%-60% of the paid premium amount. You can get the latest required documents from LIC itself. Just make a call to LIC’s call center. After asking your policy and other verification details, they will directly email the documents to your email id. So, its not that hard.

  246. Sudhakar
    January 16, 2015 at 1:30 pm · Reply

    Hi,

    Just want to know, is it mandatory to get the signature from agent to avail loan.

    Pl get back.

    Regards,
    Sudhakar

    • Pradeep Daram
      January 20, 2015 at 12:37 pm · Reply

      No, not required. But, you might need any gazetted officer signature.

  247. ankita
    January 14, 2015 at 9:23 am · Reply

    hi i wann loan against policy my premium yearly 16660/- can i get loan.

    • Pradeep Daram
      January 20, 2015 at 12:36 pm · Reply

      May I know the policy name and the organization? So that, i can help you out.

  248. shree
    January 13, 2015 at 8:32 am · Reply

    the interest of the loan availed, will merge with the priciple

    • Pradeep Daram
      January 20, 2015 at 12:35 pm · Reply

      Can you please let me know more clearly.Based on my understanding, below is the description.

      If you don’t interest amount on time, it will act as principal amount and interest will be charged accordingly. But, you will actual principal amount remains same.

  249. babji
    January 6, 2015 at 11:47 am · Reply

    i have a jeevan anand polycy of an amount of 99,457 per yearly one time payment and completed 3 years…so how much amount of loan can i get on this

    • Pradeep Daram
      January 20, 2015 at 12:33 pm · Reply

      You might not have accumulated enough bonus against your policy. So, you will get less loan amount. You may get upto 1.5Lakh loan .

  250. prashanth
    January 4, 2015 at 3:17 pm · Reply

    Sir I have a 2 policy of total 3 lakhs and 3 months once to pay and 3 years left to close already I have payed 12 years can I get the loan

    • Pradeep Daram
      January 20, 2015 at 12:32 pm · Reply

      I am really sorry, i couldn’t understand what you are trying to say. Can you please explain with more details like, yearly premium,number of years completed,etc…

  251. Name (required)
    January 3, 2015 at 6:00 am · Reply

    MY POLICY IS JEEVAN ANAND … I AM PAYINING MY AMOUNT IN 17/12/12 SO I CAN ELIGIBILITY FOR LOAN TO APPLY

    • Pradeep Daram
      January 20, 2015 at 12:30 pm · Reply

      No. You need to complete minimum 3 years to get eligibility to take loan against your jeevan anand policy

  252. Kumar Salmeda
    January 2, 2015 at 2:09 pm · Reply

    Hi

    Am having LIC policy since 3years annum premium 30025, can you please let me know what amount i will get ?

    Right am working in bangalore but am policy having in AP what are the documents you need

    • Pradeep Daram
      January 2, 2015 at 4:45 pm · Reply

      To apply for the loan, you must visit your home branch.You need to fill a form which is required to apply for the loan. Also, you must carry your lic policy bond.

  253. Damala Rama Lakshmamma
    January 1, 2015 at 9:32 am · Reply

    Sir/Madam

    please give the loan estimation for applying the loan, the following policy no is 841737253

    thanking you

    • Pradeep Daram
      January 1, 2015 at 2:33 pm · Reply

      I am not an LIC agent to have access to your details with your policy number. I only have little knowledge about financial stuff. So, I was just sharing thru this platform whatever i know. If you can let me know your total premium amount paid, policy name and duration, I can give you some rough idea.

  254. rakesh
    December 28, 2014 at 7:18 am · Reply

    I want 50000rs amount my policy name jeevan anand 2800 premium 6 months one time 4years complete.

    • Pradeep Daram
      January 1, 2015 at 2:34 pm · Reply

      You are not eligible to get 50k loan against your jeevan anand policy. If my calcualation is right, you can get only upto 10k.

  255. vilas
    December 28, 2014 at 2:33 am · Reply

    Sir, I want loan against LIC policy. I have paid premium since two years six month. Plz tell me loan value. Thanks

    • Pradeep Daram
      January 1, 2015 at 2:35 pm · Reply

      You are eligible to apply for loan against your LIC policy only after completion of 3 years.

  256. Sandya
    December 26, 2014 at 6:05 am · Reply

    Hi, I have jeevan anand policy .i have paid from April 2011 premium of 25173. I have janaraksha plan paid premium 23274 from April 2011.can I get loan against these policies

    • Pradeep Daram
      January 1, 2015 at 2:35 pm · Reply

      Yes, you can get loan against your jeevan anand policy for sure.

  257. Sandya
    December 26, 2014 at 6:01 am · Reply

    Hi, I have two policies of jeevan anand. Iam paying from April 2011 ,premium amount 25173 & 23274 .can I get loan against these policies.

    • Pradeep Daram
      January 1, 2015 at 2:36 pm · Reply

      Yes, you are eligible to take loan against your lic policies.

  258. shouvik
    December 23, 2014 at 9:15 am · Reply

    i want a loan against my policy. my policy is money back. at my my policy total amount is 13000.00 after one money back. what amount i am loan.

  259. avdhesh kumar
    December 20, 2014 at 11:02 am · Reply

    Sir, I want loan against LIC policy jeevan anand. I have paid premium since five years. Plz tell me loan value. Thanks

    • Pradeep Daram
      January 1, 2015 at 2:38 pm · Reply

      Loan value depends on your premium amount and tenure. Let me know your premium amount per year. So that, I can help you to get approximate loan amount number.

  260. NIKUNJ PRAJAPATI
    December 20, 2014 at 10:30 am · Reply

    I HAVE POLICY OF JEEVAN ANAND I HAVE PAID OF PREMIUM YEARLY 2600 AND IWILL BE STARED OF 2002 AND IHAVE GET A LOAN SO WHAT I HAVE A DO

    • Pradeep Daram
      January 1, 2015 at 2:40 pm · Reply

      I am really sorry, what you are trying to say. If my understanding is right, you started your policy in 2002 and paying premium of 2600 per year. And, your policy is jeevan anand. If whatever I have mentioned is right, your approximate loan amount will be 20,000-25,000 rupees.

  261. shafa
    December 19, 2014 at 2:04 pm · Reply

    Can I pay Interest for loans taken on lic policy at any branches in india?

  262. sripathiramesh
    December 18, 2014 at 1:14 am · Reply

    sir, my policy money back policy taken 2004 and iam paying early 15000Rs so how much loan i will get

  263. Rajeev
    December 12, 2014 at 8:11 am · Reply

    Hi Pradeep,

    i have jeevan Anand Policy- i took the polocy in 2007.
    Yearly i am paying 24907 premium.
    till today i have paid approx 200000/-
    if i want to take a loan on this policy, wht will be the amount?

  264. Name
    December 12, 2014 at 5:39 am · Reply

    Sir, I want loan against LIC policy jeevan anand. I have paid premium since one years. Plz tell me loan value. Thanks

    • Pradeep Daram
      December 16, 2014 at 3:22 pm · Reply

      You are not eligible to take the loan. You must finish 3 years to complete to be eligible for the loan against your lic policy.

  265. Karnam
    December 10, 2014 at 3:17 pm · Reply

    Hi

    I got a Jeevan Anand Policy with EMI per year around Rs 47, 000 – I completed 10 years. Total EMI paid is : 4,70, 000 and vested bonus so far is Rs.2,31,000. How much personal loan i will get. ? I heard 90% . Please correct me.

  266. Milan
    December 10, 2014 at 1:49 pm · Reply

    Dear Pradeep,

    I have two policies. Please have the details of them:

    1. Jeevan Anand – paid premium for 5 years – 39,510 Rs. per years – Vested Bonus in website – 1,90,000 Rs.
    2. Jeevan Saral – Paid premium for 3 years – 72,060 Rs. per years – Vested Bonus in website – NIL

    My Queries:
    1. Please help me to get an rough estimate – how much I can get if I surrender Jeevan Anand Policy?
    2. Is it possible to surrender Jeevan Saral as well?
    3. Which option do you suggest, go with loan against premium or surrender policy?

    Please reply at your earliest. Thanks in advance.

    Regards,
    Milan

    • Pradeep Daram
      December 16, 2014 at 3:27 pm · Reply

      If you contact any lic policy agent, they will let you know the amount.
      You can surrender your policy only after completing 3 years .
      Surrendering or taking loan against is actually depends on your financial status. If your jeevan ananad policy premiums doesn’t eat up your savings much, you can keep it and think of it as an emergency fund. Thats it.

  267. chandrasekhar
    December 6, 2014 at 7:32 am · Reply

    Hi pradeep,

    i am looking for a loan on my policy started in Nov2001, i have been paying yearly 24375, its been 13 years, i have 2 more years to pay the amount. how much will i be able to get loan on my policy jeevan shree (without profit).

    • Pradeep Daram
      December 16, 2014 at 3:28 pm · Reply

      You should get min 90% of total surrender value of your policy.

  268. deepak
    December 4, 2014 at 4:40 am · Reply

    Hi pradeep I want loan against jivan anand policy starting from Aug 2008, yearly premium of 20517,plz tell me how much loan I will get.

  269. Veerender
    December 2, 2014 at 8:28 pm · Reply

    Hi, I want to take loan against the policy and policy name is jeevan Anand, paying yearly 27k and completed 6years as of now. Plz can you tell me how much amount I will get….

    • Pradeep Daram
      December 16, 2014 at 3:29 pm · Reply

      Now you can get only 70% of the total premium paid. I am not sure about your vested bonus. If that is also very high, you can get more amount as loan.

    • Chanchal sing
      December 17, 2014 at 10:20 am · Reply

      Hi. Sir meri yearly policy 49000. Hay manay 3 year jama kara hay .mera es par kitna fincance ho jay ga.

      • Pradeep Daram
        January 1, 2015 at 2:43 pm · Reply

        I am sorry, I am little poor in hindi 🙁 . If my understanding is right, your yearly premium amount is 49000 and you have completed 3 years and you wanted to know your loan amount eligibility. If so, it will be approximately, 70,000 rupees. This estimation is for the policy LIC Jeevan Anand. If your policy is different, please let me know.

  270. giridhar
    November 30, 2014 at 6:29 pm · Reply

    I need loan now my dad is paying since 2005 he pays 7500 how much we get now and what is the intrest we must pay can you please help us

    • Pradeep Daram
      December 2, 2014 at 2:50 pm · Reply

      Does he pay 7500 rupees premium per annum? half-yearly? or, quarterly? Also, which policy he own?

  271. Jeetender Yadav
    November 29, 2014 at 11:28 am · Reply

    HI Pradeep,

    I am having a Double cover joint life policy commenced since 07 Jan-2011 with a monthly premium of 5443/- on Sum Insured Value of 11,00,000 having tenure of 21 years.

    Now i am in need of Loan against LIC policy. I have paid 5443*48 month(4 Years) = 2,61,264/-

    What is the amount i am eligible for loan & what documents would i need for them if we don’t carry a Joint Bank Account as our Policy is a Joint Polcy.

  272. Pushan
    November 26, 2014 at 7:33 am · Reply

    Hello Mr Pradeep,

    i) I have one Jivan Saral policy and in coming Feb’15 it will complete 3 yrs,premium paid till now only Rs. 25778 and in Feb’15 it will be 27576.Can i get a loan on this and how much will be the amount?

    ii) Another policy which i have is Bima Gold,premium paid till now is 33040.for this how much amount of loan can i get.

    Thanks

    • Pradeep Daram
      November 26, 2014 at 4:18 pm · Reply

      You will not get much loan amount against your jivan saral policy

  273. subhas godara
    November 24, 2014 at 11:47 am · Reply

    I have requirement of loan against of my lic policy please help me

    • Pradeep Daram
      November 26, 2014 at 4:20 pm · Reply

      What exactly you want? If you want to apply, you must visit your LIC policy home branch.

  274. Basabjit Ghosh
    November 22, 2014 at 1:17 pm · Reply

    Hi Pradeep ji,

    I am Having a Jeevan Anand , the date of commencement is 27/07/2010. The monthly premium amount is 5517. What is the loan amount that I am eligible for.

    • Pradeep Daram
      November 26, 2014 at 4:24 pm · Reply

      you can get the loan against your jeevan anand policy between 60,000 – 70,000 rupees

  275. Arjun
    November 20, 2014 at 8:54 pm · Reply

    I have Jeevan anand and Jeevan saathi LIC Policy stated in 2007 and I have paid premium 2,43,530 …. I want apply for loan , Plz advice me loan amt and premium and years for loan

    • Pradeep Daram
      November 21, 2014 at 1:53 pm · Reply

      Hi,

      I would request you to go through the text in this webpage and the comments section. I already gave enough analasys about this stuff. If you can’t understand, feel free to reply me. I will help you.

  276. roktimjit kakoty
    November 19, 2014 at 7:59 am · Reply

    i have jeevan anand policy for tanure of 17 years. i pay annual installment of Rs 1,28,000/- aprox. i will be paying my 6 installment (completing 3 years) on this december, 2014. now can i apply for a personal loan for Rs 2,00,000/-? if yes, what are the terms and conditions? and how to pay the interest? please advice

    • Pradeep Daram
      November 21, 2014 at 1:54 pm · Reply

      Hi,

      I would request you to go through the text in this webpage and the comments section. I already gave enough analasys about this stuff. If you can’t understand, feel free to reply me. I will help you.

  277. SOUMEN BATABYAL
    November 14, 2014 at 4:06 pm · Reply

    IAM SOUMEN BATABYAL MY POLYSI 4YEAR LOAN AMOUNT 25THOUESEND

  278. Nitin
    November 10, 2014 at 1:41 pm · Reply

    Hello Pradeep, I have Jeevan Anand policy started in Dec 2007. I have been paying quarterly premium of Rs 40,919. By end of Dec 2014, it would be 7 years.
    What would be the surrender value if i decide to surrender it after dec 2014?
    And if i want to continue and decide to take loan against this policy , how much loan i would be qualified for? Thank you in advance.

    • Pradeep Daram
      November 10, 2014 at 2:06 pm · Reply

      Hi Nitin,
      Since you have completed nearly 7 years on your jeevan anand policy, your surrender value will be huge. It will be better you go and ask your LIC home branch ( Not your LIC agent. He may lie to you since he’ll loose the commission ). One thing I can tell you is, you’ll get loan of about 80-90% of the total premiums paid since,you might have earned good amount of bonus on your LIC policy.
      One thing you can do is, when you go to the branch, make up your mind in such a way that, you are ready to either surrender your policy or take loan against your policy. If you have more doubts in choosing which one to go for, revert back. I will help you.

      • Nitin
        November 10, 2014 at 4:28 pm · Reply

        Hi Pradeep, appreciate your consultation.
        I’m more inclined to taking loan against policy now as i thought i might incur huge losses on surrendering policy now so I’m planning on dragging it 5 more years so that atleast i can get back what i paid. does it make sense? I had read somewhere that after 12 yrs, you can get back all the premiums you have paid until then.

        Also if the policy loan is like gold loan as you have mentioned below in one of your responses then i think its better to take policy loan rather than i increase my home loan amount through bank as i can repay policy loan premium amount asap. did i understand this correct?

        in your opinion what percentage of total premiums paid i can get if i surrender policy after dec 2014?

        Does tax get deducted from surrendering value whether its premature surrender or after maturity? and how much is this tax?

        Again thanks for your advice. Best Regards-Nitin

        • Pradeep Daram
          November 26, 2014 at 4:33 pm · Reply

          I sorry for huge delay in response to your comment. My below description might help you:

          surrender amount of any LIC policy can be obtained from any LIC policy branch. But, to surrender, you must your LIC policy home branch. If you would have accumulated any bonus ( mentioned as “vested bonus” in online ) , you might get your premium amount. If you were decided to surrender your policy, better to do asap subjected to you won’t loose much of your paid premium amount.
          You need to consider lot of parameters in deciding taking loan against gold for buying a house instead of house loan. Parameters include, wheather you are paying any income tax, if so, whats your tax bracket,loan amount you require and many more. Unless i know your complete financial picture, i can’t suggest anything for sure. If you sit and calculate the complete details, you will come to know.
          You don’t need to pay any tax after maturity since its an insurance policy

  279. Sriyallapa Raju Alapati
    November 8, 2014 at 9:26 am · Reply

    Dear Pradeep Sir,

    I ve take LIC policy “Jeevan varsha” in 2009. my yearly premium is rs. 23962/. so for i paid amount Rs. 1,43,772 /-.
    & LIC policy “Profit Plus (T.N0 188) in 2008 yearly premiun is Rs. 20000/- paid for 5 years (Total: Rs.1,00,000/-)

    Sir kindly tell me how much loan i am legible & what is the interest rate.
    Raju

    • Pradeep Daram
      November 10, 2014 at 2:07 pm · Reply

      Since you have completed only 4-5 years, you can get just about 50% of your LIC’s paid premium amount. Interest rate will be 10% p.a

  280. Mani
    November 4, 2014 at 6:42 pm · Reply

    I have taken komal jeeaven policy at surat (gujarat) now i am in karnataka. i want transfer mypolicy to karnataka. do I need to there. How can I transfer the policy from surat to karnataka.

  281. S K Mathpal
    November 3, 2014 at 11:18 am · Reply

    Thanks Pradeep ji, you are helping people, as mostly policy holder is take policy on the trust/ interest of Agent.

    In my case, I have taken Policy in 2006 for saving my TDS ( as I asked the Market base) with the premium of Rs.5000 per year. Now I want to take the loan and I do not know where is the Agent. Can I get it.

    Your early reply is requested.

    Regards
    Mathpal Sk

    • Pradeep Daram
      November 3, 2014 at 11:31 am · Reply

      Yes, you can get it. You better contact your home branch. Usually, work will be finished in 30 minutes if there is no crowd in the office.
      Its always better to take policies from the person,who is actually passionate about it. Most of the agents join insurance companies as agents by looking at the commission they get. But, they won’t concentrate on service to their customers. And also, they misguide their customers without having enough knowledge in financial products.
      Anyways, all the best 🙂

  282. kiran
    October 31, 2014 at 9:39 am · Reply

    i have jeevan saral policy started on 2008. I am paying 15K annually. Now 7yrs completed.
    How much loan i can get against the policy.

    • Pradeep Daram
      November 3, 2014 at 11:26 am · Reply

      You may get loan upto 80k against your jeevan saral policy.

  283. Nikunja Jena
    October 29, 2014 at 7:42 am · Reply

    I have an lic policy jeevan saral . it was commencement on dt 19july2010. i have already paid 30025. how much i get loan from LIC. pls anybody suggest me

    • Pradeep Daram
      October 30, 2014 at 8:43 am · Reply

      Hi Nikunja,
      Its maximum 50-60% of paid premiums of any LIC policy. You paid 30,025 rupees as a premium for your jeevan saral policy. So, you may get anywhere between 15,000-18000 rupees loan against your jeevan saral policy. If you complete more number of years, your loan eligibility will also increase. Sinc eyou have completed only 4yrs, you hardly get 50-60% of your premiums.

  284. Puja Ramamurthy
    October 29, 2014 at 5:55 am · Reply

    I want loan against my policy ,I have policy Jeevan Saral I took in 2010 and yarly I pay premium of 24 K.

    How much loan I can get now, and let me know how to apply

    • Pradeep Daram
      October 30, 2014 at 9:39 am · Reply

      Hi Puja Ramamurthy,

      You had mentioned your yearly premium is 24K. Since you have completed 5 years ( assuming you paid 24K this year already ) of your LIC’s jeevan saral policy, you might get little above 60% of your premium, which is anywhere between 60,000-70,000 rupees.

      If you have more doubts, please feel free to ask me.

  285. Harish Kumar
    October 28, 2014 at 7:19 am · Reply

    I have LIC’s samaridhi plus policy commencing 31/3/11 having value of approx. 1,00,000/- today can i get loan against this

    • Pradeep Daram
      October 30, 2014 at 9:42 am · Reply

      I am not sure. Is it a one time premium policy? Or, money back policy? If so, i don’t think you can get a loan against your policy. Will comeback to you with more details soon.

  286. Thamarai
    October 24, 2014 at 12:48 pm · Reply

    Hi sir,

    Am in delhi and my native is tamil nadu where i have taken lic policy (jeevan anand). three years over. I want to take loan against my policy. Can i get the loan application form online or can i download?

    • Pradeep Daram
      October 24, 2014 at 12:58 pm · Reply

      You may download the form online or even if you speak with customer care, they will send the form to your email id.
      But, you must go to your home branch (tamilnadu, as you mentioned ) to apply for the loan since you MUST submit your original LIC’s jeevan anand policy bond / document.

  287. Ajay Rangari
    October 13, 2014 at 9:54 am · Reply

    i have taken loan against LIC policy 38000 and since 3 year i did no pay interest now they given me total 7000 rupees interest how??? please advice

    • Pradeep Daram
      October 16, 2014 at 5:58 am · Reply

      It may be because, your pending interest amount will be added to the principal amount each time you miss your payment.
      You took 38,000 loan against your LIC policy. You are supposed to pay interest every 6 months.Since you didn’t pay your interest amount, the same amount will be added to your actual principal amount for next interest cycle.

      Example:
      Your amount 38,000.
      Lets say your interest amount after 1st 6 months is 1000 rupees.

      Since you didn’t pay interest amount of rupees 1000 in the first interest payment period, it will be added to the principal amount for next interest payment. So, for 2nd interest payment period ( after 1 year), your interest will be calculated on 39,000 rupees i.e 38000 + 1000 ( 1000 rupees is the interest amount which you didn’t pay). Similar calculation will happen each time.
      This may be the reason they said it is 7000 rupees.

      That is what I heard. May be I am wrong.

  288. Thirugnanam J
    October 9, 2014 at 6:42 am · Reply

    need my lic against loan

    branch : Chidambaram
    railway feeder branch

    MY NATIVE PLACE
    THAMBIKKU NALLAN PATTINAM

    MY FATHER NAME IS JAYARAMAN A
    MY MOTHER NAME IS RAMAYEE J

    BECAUSE MY MARRIAGE

    • Pradeep Daram
      October 10, 2014 at 5:20 pm · Reply

      Please go through the comments below. I already explained how to get loan against your LIC policy.If you still need more details, feel free to revert me back.

  289. thirugnanam j
    October 9, 2014 at 6:38 am · Reply

    need my lic against loan

  290. jitender singh negi
    September 24, 2014 at 7:02 am · Reply

    i want to ask how the loan repayment thing works. how can i pay my loan. can i pay online and how can i calculate how much i have to pay.

    • Pradeep Daram
      September 24, 2014 at 7:47 am · Reply

      You need to pay the interest amount every 6 months.You can pay this at any LIC branch. Only LIC branch guys can tell you the interest amount. They charge 10% pa interest. When you are ready to pay full principal amount, you need to visit the same branch where you have applied for loan ( Usually, your LIC policy home branch ).
      You don’t have option to pay either principal or interest through online.

  291. Gurdayal
    September 24, 2014 at 6:32 am · Reply

    One More thing, My Agent from whom i took the policies is a defaulter now. He threatened me for paying premiums when i didnt have money to pay. I have no relationships with him. If i want that my Premium and commission which is generated from my premium shouldn’t go to him, can i nominate somebody else as my agent. or simply saying that If i don’t want that my premium’s commission go to that person. what should i do?

    • Pradeep Daram
      September 24, 2014 at 7:51 am · Reply

      You can’t change your LIC agent. Then only thing you can do is, cancel your current LIC policy and take a new one 🙂 if you really want to take revenge on him.Looks like, you are not interested to continue your LIC policy also.So, you surrender your policy and try to go for term policy for insurance. That would be the best option. LIC jeevan anand policy isn’t that great as it looks like so. So, better surrender your policy and use the same amount of money to invest somewhere to get more returns and life cover.

    • Pradeep Daram
      September 24, 2014 at 7:55 am · Reply

      Sorry, i think, you can change your lic policy agent. I will get back to you with the details asap. Mostly, within 2 days.

      • Gurdayal
        September 26, 2014 at 3:56 am · Reply

        any Progress bro?

      • Gurdayal
        October 7, 2014 at 10:50 am · Reply

        Hi Pradeep, COuld you get time to Check about my query?

        • Pradeep Daram
          October 7, 2014 at 11:28 am · Reply

          Hi Gurdayal,

          I am really sorry for delay in my response. I was out of town last week.
          Its NOT POSSIBLE to change your LIC policy agent. Since you had mentioned he is a defaulter, you may get some chances if you can directly contact and speak with your LIC policy branch manager. Hope this helps.

  292. ad
    September 23, 2014 at 4:35 pm · Reply

    i want to ask how the loan repayment thing works. suppose i take 2 lakh as loan against my policy and therefore have to pay 20,000 per annum. do i have to pay the premium till this 2 lakh loan amount is covered or i have to pay more? please advice.

    • Pradeep Daram
      September 24, 2014 at 5:39 am · Reply

      There is no relation between your premium payments and loan. Then only thing is, company keeps your insurance bond as an assurance to grant a loan for you. Don’t mix your loan and policy premiums. They both are separate. This is as simple as taking loan against gold. In gold loan, you pledge your gold here, you pledge your policy original bond document. Thats it.Please feel free to write back if you have any more questions.

  293. Gurdayal
    September 23, 2014 at 4:34 am · Reply

    Dear Pradeep

    I have taken 2 LIC policies, Jeevan anand- Premium-27000 yearly and jeevan mitra- premium-11000 yearly.
    I took the policy in 2011. Paid 2 premiums in 2011,2012 and after that i couldnot pay the premiums. Now if i pay all the remaining premiums, can i get loan against my LIC policy?

    • Pradeep Daram
      September 24, 2014 at 5:35 am · Reply

      I am not sure about Jeevan mitra, but, you can definitely get loan against jeevan anand policy. Yes, since it will complete 3 yrs in 2014, you are eligible to take loan. You must pay all your pending premiums first. I think, you also might need to pay some penalty fee for not paying your premium on time.
      All the best !

  294. Shiva
    September 2, 2014 at 7:01 am · Reply

    Hi
    am shiva krishna i took LIC Policy Jeevan Anand in September 2011
    the payment is for half yearly and the amount is Rs.19615.

    As of now i paid total amount
    Sep-11
    Mar-12
    Sep-12
    Mar-13
    Sep-13
    Mar-14
    Sept-14 of total amount around 137000
    So how much amount eligible to take Loan against LIC Policy???

    • Pradeep Daram
      September 4, 2014 at 6:37 am · Reply

      Hi Shiva,

      Since you have started your policy in September 2011, you will be eligible to take loan only after September 2014 ( you will eligible to take loan only after 3 yrs of start date of your policy.)

      As you mentioned, you have paid 1,37,000 rupees for premiums. So, you will be eligible to take loan up to 50-60% of premium amount you paid.
      So, it will be around 68,000 rupees to 75,000 rupees you are eligible to take loan against your LIC policy.
      I hope, this helps.

      • Shiva
        September 5, 2014 at 10:11 am · Reply

        Hi Pradeep,
        Thanks for Sharing valuable information.

  295. hina khan
    September 1, 2014 at 10:53 am · Reply

    i want to loan against policy

  296. Dinesh chandra
    August 19, 2014 at 10:34 am · Reply

    I want loan against lic policy

    • Pradeep Daram
      August 21, 2014 at 8:09 am · Reply

      LIC’s Jeevan Anand policy has loan facility. Which policy you have?

  297. riyaz
    August 11, 2014 at 10:45 am · Reply

    should we apply loan on the branch we enrolled the policy or any branch?

    • Pradeep Daram
      August 11, 2014 at 11:35 am · Reply

      You have to apply in the branch where you have enrolled for the policy.

  298. viresh kumar
    July 21, 2014 at 2:50 am · Reply

    I want loan against my lic

    • Pradeep Daram
      July 25, 2014 at 4:39 pm · Reply

      Contact your LIC agent for more details. Else, you can call to LIC center. They can give you clear idea on how to apply for it.

  299. rk
    May 13, 2014 at 9:53 pm · Reply

    Good and helpfull infornation

    loveddestinations.blogspot.com

  300. shiyamaladevi
    May 5, 2014 at 10:58 am · Reply

    I want loan against
    policy

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