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"LIC would like to clarify that although we encourage our policyholders to update their KYC details, there are no penalty charges levied by us for failure to do so," it said.
Policy holders benefit with savings and insurance coverage by investing in this LIC Plan.
The LIC Jeevan Labh is a non-linked, limited premium paying policy. The plan offers a combined benefit of both protection and savings.
The LIC Dhan Varsha is a non-linked, individual, savings, non-participating life insurance plan which offers a blend of savings and protection.
The LIC WhatsApp service was launched by LICI Chairman MR Kumar.