LIC issues important notice to its policyholders and customers

The Life Insurance Corporation of India (LIC) has issued an important notice to its customers and policyholders.

Mumbai, First Published Mar 16, 2022, 7:21 PM IST | Last Updated Mar 16, 2022, 7:21 PM IST

Life Insurance Corporation of India (LIC) has issued an important notice for its policyholders and potential buyers. The announcement comes even as the wait for the LIC's upcoming initial public offering (IPO) grows longer.

LIC tweeted and wrote inaccurate and misleading information on the online/digital platforms regarding LIC providing a Kanyadan policy.

It further added that officially LIC would like to clarify that they offer no such policy. The list of the products can be accessed from the official site of the LIC.

LIC also shared a number for customers' for policy-related queries, i.e., 022-68276827; it's a 24*7 call centre number.

Meanwhile, on Monday, the Department for Promotion of Industry and Internal Trade (DPIIT) announced the government decision to allow up to 20 per cent foreign direct investment (FDI) in IPO-bound LIC to assist the country's largest insurer's disinvestment.

Last month, the Union Cabinet approved the decision on FDI in the insurance behemoth. The statement has inserted a paragraph in the existing policy allowing up to 20 per cent FDI in LIC through the automatic route.

The Markets regulator Securities and Exchange Board of India (SEBI) has permitted the mega IPO proposal of Life Insurance Corporation (LIC) to aid the government to mobilise about Rs 63,000 crore to meet the disinvestment target for the current fiscal year, as per PTI.

On February 13, 2022, LIC filed a draft red herring prospectus (DRHP).

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