Policy Servicing
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.
Policy Loans
Loan facility is availed on eligible policy plans provided the policy has completed 3 years with full 3 years’ premiums received.
Interest on Loan is charged at 10.5% per annum compounded every 6 months at 5.25%
Repayment of Loan and Interest on Loan may be done direct payment at our Suva/ Lautoka/ Labasa Cash Counter.
Note to quote “Policy Number” as reference of payment with Narration as “Loan Repayment”
The policy will be held as security by the Corporation for the repayment of Loan & Interest on Loan
In the event of failure to repay Loan & Interest on Loan, the Corporation will be entitled to apply the Surrender Value allowable for the payment of Loan & Interest on Loan
In case a claim (Survival Benefit/Maturity/Death) is due, the Corporation will be entitled to deduct Loan & Interest on Loan before the balance is paid.
Requirements:
- Policy Loan Form
- Original Policy Document (on fresh Loan)
- Copy of valid photo ID
- Copy of bank statement
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67 Years of Commitment and Trust
