Combination of PF and LIC Government and private sector employees rely on both PF and LIC for their pension and financial security. The convenience of using both in combination provides better protection to the employee.
Auto deduction of policy premium
double financial security
Claim process becomes easier
Nominate only one
online linking process
Verification and Linking
Auto deduction of policy premium
When the PF account is linked to LIC, if for some reason the premium of the policy is not paid on time, then that amount is directly deducted from the PF account. This does not cause any hindrance in policy linking.
double financial security
When PF and LIC are linked, the employee gets additional insurance protection under the EDLI (Employees Deposit Linked Insurance) scheme. In case of sudden death, the family gets an amount ranging from Rs 2.5 lakh to Rs 7 lakh.
Claim process becomes easier
Linking LIC policy and PF account makes claim verification faster. For this, the need for paperwork is reduced and the process can be completed through digital medium.
Nominate only one
There should be only one nominee in the policy and PF account so that there is no inconvenience in the claim and the amount is given directly to the family.
online linking process
Visit https://epfindia.gov.in website, login with UAN and password, select LIC policy in KYC section, fill policy number and required information and submit.
Verification and Linking
After verification by the employer or EPFO, the LIC policy will be linked to your PF account, thereby activating all the benefits.