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Policy Servicing

Servicing Options

Your policy is one of the most valuable assets you own. Keeping your insurance policy in force will ensure that you or your family continue to receive the benefits.

Throughout the course of your policy ownership, LICI team is waiting to assist you with all your servicing needs.

Nomination

The Nominee(s) is statutorily recognized as a payee who can give valid discharge to the Corporation for payment of policy monies in case of death of the life assured before the expiry of term of policy contract. (Ref: Section 152 of the Insurance Act 1998).


Where the Nominee is a Minor (below 18yrs of age), an Appointee is assigned to receive monies in the event of death of life assured during the minority of the Nominee. The Appointee must be above the age of 18.

Where there are more than one Nominee, policy monies will be payable jointly or to the Survivor or Survivors of them.

Nomination can be changed at any time during the term of policy provided full requirements are received and endorsed by the Corporation.

Requirement:
- Change of Nomination Form
- Original Policy Document