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A LIC (Life Insurance Corporation of India) receipt documents premium payments made toward a life insurance policy. It confirms the policy number, premium amount, payment date, and plan details. People recreate or retrieve LIC receipts to submit proof of premium payment for income tax deductions under Section 80C, for loan applications, or when an original receipt is lost or damaged.
Life Insurance Corporation of India was established in 1956 when the Indian government nationalized the life insurance sector, merging over 200 insurance companies. Headquartered in Mumbai, LIC is the largest life insurer in India by market share and manages hundreds of millions of policies. It went public in 2022 in one of India's largest IPOs.
| Section | Details |
|---|---|
| Section | Details |
| Receipt Header | LIC of India logo, branch name, and branch office address |
| Receipt Number | Unique acknowledgment or receipt number for the transaction |
| Policy Details | Policy number, plan name, and policy term |
| Policyholder Info | Name of the proposer or life assured |
| Premium Breakdown | Basic premium, service tax or GST amount, and total amount paid |
| Payment Info | Date of payment, mode of payment (cash, cheque, online), and cheque/transaction reference if applicable |
| Premium Period | The policy year or installment period the payment covers |
| Agent Details | Agent name and code if applicable |
| Stamp or Signature | Authorized signatory stamp from the LIC branch |