LIC IPO: About LIC, Benefits for policyholders in IPO | Espresso


LIC IPO Opening on May 4 – Key Factors to Know about the Big Issue | My Espresso

April 27, 2022
LIC IPO Opening on May 4 – Key Factors to Know about the Big Issue | My Espresso

About Life Insurance Corporation of India (LIC)

Life Insurance Corporation of India was created on Sept 1, 1956, with the objective of spreading life insurance much more widely and in particular to the rural areas with a view to reach all insurable persons in the country, providing them adequate financial cover at a reasonable cost.

As of August 2020, LIC has 8 Zonal Offices, 113 Divisional Offices, 74 Customer Zones, 2048 Branch Offices, 1526 Satellite Offices, 3354 Life Plus Offices and 31556 Premium Points. It has over one lakh employees, 12.08 Lakh agents and 28.92 crore plus policies in-force.

The market share garnered by LIC comes to 81.04% in number of policies for the month of March 2021 and 74.58% for the year. For First Year Premium, the market share is 64.74% for March and 66.18% for the whole year.

Benefits for LIC policyholders in LIC IPO

A new category has been introduced for the LIC IPO called Policyholder. This category will have reservations on a competitive basis to customers who hold policies of LIC. To be eligible for making an application under the LIC IPO policyholders category, you must have:

For a brief, step-by-step video guide on how to apply for LIC IPO as an LIC Policyholder, tap here.

Similarly, there are reservations of shares under the LIC IPO employees category as well.

How to check if your PAN is already linked with your LIC Policy for LIC policyholders?

To check whether your PAN is already linked to your LIC policy:

  • Visit this PAN availability status in LIC Policy page
  • Enter your Policy number, Date of Birth, PAN, and the Captcha in the respective fields and click Submit to see your LIC policy and PAN link status
  • If your LIC policy is not linked with your PAN, you can follow the below steps to link your PAN with your LIC policy

How to link PAN with LIC policy

To update your PAN number in LIC records and link your PAN with your LIC policy:

  • Visit this Link PAN to Your LIC Policies page
  • Keep your PAN Card details, along with the list of policies you hold, ready with you; then click on Proceed at the bottom of the page
  • Enter your Date of Birth (as per PAN), Gender, Email ID, PAN, Full Name as per PAN, Mobile Number, Policy Number (in case you hold multiple policies, click on Add Policy to enter another policy number)
  • Check the declaration checkbox
  • Enter the Captcha as shown in the image
  • Click on the Get OTP option
  • Once you receive OTP on your registered mobile number, enter the OTP and click Submit

How do I apply for the LIC IPO via UPI with Espresso

Just follow these three simple steps to apply for LIC IPO via UPI with Espresso:

  1. Create a UPI ID. Already have one? Skip to step 2.
  2. Apply for the LIC IPO via the Espresso app or website.
  3. Approve the request on your UPI app.

And you’re done! Check out this video walkthrough to learn more.

Did you know that Espresso offers the Pre-Apply for IPO facility? Check out this short video on this feature.

So, without wasting a minute more, you can go through the LIC IPO details and apply for it right away by tapping here.

The Espresso IPO advantage

  • Easy UPI application for IPOs
  • 22 UPI apps supported
  • 41 banks supported for UPI payments
  • Regular updates of IPOs to watch out for
  • Over 750 successful IPO allotments

On the EspressoLogy blog, we maintain a dedicated article on every IPO that opens, and the LIC article will contain all the information you need, like LIC IPO details, LIC IPO price, LIC IPO minimum lot size and much more!

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