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Insurance Management at LBIT

Insurance: Insurance a legal agreement between the insurer and the insured where the insurer promises to pay the insured an amount in case of loss of life or on account of critical illness or children’s education or damage of vehicle, or home

Insurance: Insurance a legal agreement between the insurer and the insured where the insurer promises to pay the insured an amount in case of loss of life or on account of critical illness or children’s education or damage of vehicle, or home. All you do is to pay a premium on a monthly, or quarterly or yearly basis. There are a number of insurances that one has over a lifetime such as a life insurance, health insurance, car insurance, education insurance, etc. it is important that you be able manage your insurance like a pro in this fast paced world. LBIT offers a comprehensive Insurance management system for all insurance users.Here’s how to manage your insurance at www.lbit.co.in

  • Register your profile at www.lbit.co.in
  • Click on the Insurance Management Page and follow the step-wise procedure mentioned below to enter your insurance details. You must keep your insurance policy handy to be able to enter your details:

Step 1: Enter your policy number

Step 2: Mention the type of insurance policy you hold. You must select your options depending on the type of insurance policy you hold. You can select your options from the drop box, the options you will be given are life insurance, health insurance, motor insurance and other insurances. Pick your insurance type from the dropbox and head towards another section.

Step 3: Enter the name of the insurance company you have purchased your insurance from

Step 4: Enter the name of the insurer

Step 5: Mention the Insured Declared Value which is also known as IDV. IDV is the maximum sum assured that is fixed by the insurer that is provided in case you wish to claim your insurance policy.

Step 6: You must then enter the premium value of your insurance policy.

Step 7: You must enter the validity of your insurance policy.

Step 8: You must mention the action that needs to be taken.

You can add your insurance policy in your LBIT account by clicking on “add insurance” icon. You can add multiple insurance policies on the same page irrespective of their type and manage them all through a single window.

Benefits of an insurance policy:

Most of us do not avail an insurance policy considering it to be an expensive affair; however you cannot ignore the advantages of an insurance policy some of which are enlisted as under:

  • Offers you a risk cover in case of an accident, or loss of life so that you or your family can stay protected in case of an unfortunate event.
  • If you have a motor insurance – you can avail insurance in case of an accident or damage to vehicle.
  • You can also avail tax benefits if you avail insurance under section 80C of income tax act.
  • You can also apply for loans against your insurance policies
  • You can avail assured income benefits

Insurance management is easier and simpler with LBIT – all you need to do is to register with us! 

Category: Insurance