How LIC policyholder can update PAN details with the insurer to participate in its proposed IPO

The Life Insurance Corporation of India (LIC) is planning on hitting the primary market with its initial public offering – although a date for it is yet to be set. Regarding it is proposed IPO, the LIC on Wednesday put out an advertisement in leading newspapers stating that policyholders should update Permanent Account Number (PAN) details and that they should open demat accounts to participate in the offering.

“In order to participate in any such public offering policyholders will need to ensure that their PAN details are updated in the corporations records. Further, subscribing to any public offering in India is possible if you have a valid demat account. Accordingly policyholders must ensure that they have a valid demat account in place,” stated the ad.

“In the interest of our policyholders, we have in the past been running advertisements calling upon you to update your PAN details in our records. If you yet have not provided this information to the corporation, please do so at the earliest. This is very important from a KYC perspective as well as your ability to participate in the proposed public offering of LIC as and when it takes place. This will help you participate in the public offering,” it stated further.

How to check PAN-LIC status
Step 1: Visit https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus
Step 2: Enter Policy Number, Date of Birth, and PAN information, as well as the captcha. Then press the Submit button.

If your PAN is not in the LIC database, then here is how you can update your PAN details with LIC.

Step 1: Visit the official LIC website https://licindia.in/
Or visit the page directly- https://linkpan.licindia.in/UIDSeedingWebApp/
Step 2: From the home page, select the 'Online PAN Registration' option.
Step 3: In the Online PAN Registration page, tap the 'Proceed' button.
Step 4: Correctly provide your email address, PAN, mobile number, and LIC policy number.
Step 5: Enter the Captcha Code into the box.
Step 6: From your registered mobile number, request an OTP.
Step 7: Once you've received the OTP, input the digits into the portal and submit.

You can also get in touch with a LIC agent. If you do not have a PAN, it is recommended that you apply for one as soon as possible and update it in the policy document once you receive it.