LIC IPO Update : Not every policyholder will get reservation in allotment of LIC IPO, know what are the important conditions to be fulfilled

LIC IPO Update : Not every policyholder will get reservation in allotment of LIC IPO, know what are the important conditions to be fulfilled

Keep in mind that after the death of the policyholder, the person getting annuity will not get the benefit of reservation. Apart from this, the nominee will also not get the benefit.

Not every policyholder will get a reservation in the allotment of LIC IPO. There are many conditions for this. Explaining these conditions, Lakshman Roy, Economic Policy Editor from CNBC-Awaaz told that not every policyholder will benefit in LIC IPO. Policyholders whose demat account is not linked with PAN will not get this benefit. For policyholders to get the benefit of reservation, it is necessary to link the demat account with the PAN. If a policyholder’s demat account is not linked with PAN, then he must link his PAN with demat account by February 28 to take advantage of this reservation.

Those who have a policy till February 13 can take advantage of this reservation. This means that you cannot take advantage of it by purchasing the policy now. What happens if you apply for the policy by February 13? The answer to this question is that the policy should be issued by February 13, only then you will get the benefit of this reservation.

The next question is that if there is a joint demat account, then will both get the benefit? The answer is that no, only the primary account holder will get the benefit. Apart from this, even if your policy is in someone else’s demat account, you will not get the benefit of this reservation. That is, if your own policy is in your own demat account, then only you will get the benefit.

Also, keep in mind that after the death of the policyholder, the person getting annuity will not get the benefit of reservation. Apart from this, the nominee will also not get the benefit. Only the policyholder will get the benefit of reservation in allotment.

Also keep in mind that even group policy holders will not come under its purview. Only individual policyholders will be under the purview of reservation. Along with this, NRIs will not be eligible for reservation.