LIC insurers can now switch funds online under ULIP plan

Mumbai: To help policy holders during the covid-19 epidemic, the Life Insurance Corporation of India (LIC) has given facility to convert investment funds into ULIP policies on its portal. LIC said in a statement on Friday that the facility would be available to policyholders registered under its Premier service.

According to the statement, the exchange of funds will be available under LIC's new endowment plus (plan 935), investment plus (plan 849) and SIIP (plan 852). No fee will be charged for this. LIC said that there will be exchange of funds once in a day. For this, the customer will get a one-time password (OTP), which will be used for verification.

Source: The Indian Print