The Life Insurance Corporation (LIC) has revealed that there are unclaimed maturity benefits worth ₹880.93 crore for the financial year 2023-24. According to Minister of State for Finance Pankaj Chaudhary, around 3.72 lakh policyholders failed to collect their maturity benefits during this period. Policyholders or beneficiaries can check unclaimed amounts by visiting the LIC website and providing required details such as policy number, name, date of birth, and PAN card details. If the amount remains unclaimed for over 10 years, it is transferred to the Senior Citizen Welfare Fund (SCWF) for the benefit of senior citizens. The LIC has implemented measures to reduce unclaimed claims, including media campaigns and regular follow-ups by agents. It is essential to check policy status regularly to avoid losing out on valuable benefits.
