Budget 2020

LIC allows online switching of Ulips

MUMBAI: To help policyholders during the pandemic, the national life insurer LIC has allowed them to switch online funds under ulip policies through its portal. The facility will be available for those policyholders who are registered for its premier services, LIC said in a statement on Friday.

This online switching of funds will be available for the new endowment plus (Plan 935), Nivesh plus (Plan 849) and the SIIP (Plan 852), it added. There is no fee for doing so.

One switch is allowed per day per policy through an OTP-based authentication system, it added.

The insurance behemoth has also launched a multilingual call centre by extending the support to Marathi, Tamil and Bengali. The corporation plans to add more regional languages in the near future.

Call centre services were available only in English and Hindi since September 2018. BEN MR