How to link your PF account with an LIC policy? Learn the step-by-step process and benefits.

You can also make a smart move to double your financial security. To do this, you need to link your PF account with your LIC policy. Let's explore the process and benefits.

Life and financial security are crucial in every sector, whether private or government, today, because money is needed for everything. Therefore, it's crucial to prioritize this.

In this context, linking your PF account with your LIC is a great option to double this security. This not only simplifies premium payments but also provides additional insurance coverage. In recent years, the EPFO has simplified this process so that PF account holders can link their PF and LIC accounts without any hassle. Let's explore the process and its benefits.

Why link PF with LIC?

In India, both PF and LIC are trusted institutions for financial security. While PF secures our retirement savings, LIC provides life insurance that is useful both during and after life. Linking the two provides a double layer of security for employees and their families. Furthermore, it provides enhanced long-term benefits.

A key feature of this scheme is that it significantly simplifies the withdrawal process. Employees no longer need to verify documents twice, allowing them to access their savings easily. Furthermore, the nominee is designated as a single person, whether it's for PF or LIC, reducing unnecessary confusion. One of the biggest advantages of linking these two accounts is that it prevents your LIC policy from lapsing because if you ever forget to pay an installment, it is deducted directly from your PF account.

How to link PF and LIC?

1. To do this, first visit the EPFO's official website, epfindia.gov.in.

2. Log in by entering your Universal Account Number (UAN) and password.

3. Then go to the KYC section and add the LIC policy option.

4. Then enter the LIC policy number and fill in the remaining required details.

5. Finally, submit the request.

Upon submission, the employer or EPFO will verify all the details. After this, your LIC policy will be linked to your PF account. All the benefits available with it will also be activated.