LIC IPO: Link PAN with life insurance policy to avail big benefits; step-by-step details

To avail benefits, LIC policyholders need to link their Permanent Account Numbers (PAN) with life insurance policies on a priority basis.

The initial public offering of Life Insurance Corporation of India (LIC) is all set to hit the market after the Draft Red Herring Prospectus (DRHP) for India's biggest ever public hearing was filed.

The initial public offering of over 31.6 crore shares or 5 per cent stake of the government is likely to hit the D-street in March and employees and policy holders of the insurance behemoth would get a discount over the floor price.

The government, however, did not disclose in the DRHP the discount which would be given to policyholders or LIC employees in the public offering. As per norms, up to 5 per cent of issue size can be reserved for employees and up to 10 per cent for policyholders.

However, to avail these benefits, LIC policyholders need to link their Permanent Account Numbers (PAN) with life insurance policies on a priority basis.

Here are simple steps to link your PAN to your LIC policies.

The registration of your PAN with LIC is very easy.

Before initiating the process, LIC policyholders must keep their PAN card handy along with the list of policies.