Deadline for policy holders to update PAN

Deadline for policy holders to update PAN

IPO
by Shreya Anaokar Last Updated: 2022-06-02T16:06:48+05:30

According to the Draft Red Herring Prospectus (DRHP) submitted by Life Insurance Corporation of India with the market regulator SEBI recently, 10 percent of the total LIC share offer will be kept reserved for the LIC policyholders but the condition is that the policyholder PAN should be updated on LIC Portal . 

So what is the deadline for Policyholders to update PAN?

According to the LIC DRHP, a policyholder who does not update his/her PAN before February 28, 2022 will not be eligible to participate in its IPO under the portion reserved for policyholders. 

According to the LIC DRPH, “A policyholder of our Corporation shall ensure that his / her PAN details are updated in the policy records of our Corporation at the earliest. A policyholder who has not updated his / her PAN details with our Corporation before expiry of two weeks from the date of the filing of this Draft Red Herring Prospectus with SEBI (i.e., by February 28, 2022) shall not be considered as an Eligible Policyholder.”

How to update PAN details in LIC policy

In the LIC policy, the PAN number of the applicant must be updated to invest in the IPO. The Life Insurance Corporation of India has previously requested its subscribers link their life insurance policies to their PAN cards in order to participate in the LIC IPO.

Here are some steps to update PAN details on LIC website:

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: On the Online PAN Registration page, tap the 'Proceed' button.
Step 4: Provide your correct email address, PAN, mobile number and LIC policy number.
Step 5: Enter the Captcha code in the box.
Step 6: Click on 'Get OTP'
Step 7: Once you've received the OTP, input the OTP digits into the space provided for it on the portal and submit.

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.

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About the Author

Shreya Anaokar is a Content Writer at 5paisa. She has completed her Master’s in Finance and Graduation in Statistics from the University of Mumbai. 

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