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May 30, 2023

Lic Efeap Software: Features, Benefits, Drawbacks, and Download Process

Lic Efeap Software Download: A Complete Guide

If you are a lic policyholder or investor, you might be looking for a convenient and efficient way to manage your lic policies and investments. One of the best options available for you is lic efeap software. In this article, we will explain what lic efeap software is, how to download it, how to use it, what are its benefits and drawbacks, and more. By the end of this article, you will have a clear idea of whether lic efeap software is suitable for you or not.

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What is Lic Efeap Software?

Lic efeap software is a desktop application developed by Life Insurance Corporation of India (LIC), the largest insurance company in India. It stands for Electronic Financial Accounting Package (EFEAP) and it is designed to help lic policyholders and investors manage their lic policies and investments easily and effectively.

Lic efeap software has many features that can help you with various aspects of your lic policies and investments, such as:

Creating and updating your profile and portfolio

Viewing and printing your policy details, statements, receipts, etc.

Calculating and planning your premiums, returns, maturity values, etc.

Accessing online services such as premium payment, policy status, loan status, etc.

Contacting customer support and grievance redressal

Lic efeap software is a user-friendly and secure application that can save you time and hassle when it comes to managing your lic policies and investments. It can also help you make informed decisions and achieve your financial goals.

How to Download Lic Efeap Software?

If you are interested in using lic efeap software, you need to download it from the official website of LIC. Here are the steps to download lic efeap software:

Go to https://www.licindia.in/Home/EFEAP

Click on the "Download" button under the "EFEAP" section

Select the version of lic efeap software that matches your operating system (Windows or Linux)

Save the file on your computer

Before you download lic efeap software, make sure that your computer meets the following system requirements:

Operating system: Windows XP/Vista/7/8/10 or Linux

Processor: Pentium IV or higher

Memory: 512 MB RAM or higher

Disk space: 100 MB or higher

Internet connection: Broadband or higher

If your computer does not meet these requirements, you might face compatibility issues or performance problems when using lic efeap software.

After you download lic efeap software, you need to install it on your computer. Here are the steps to install lic efeap software:

Double-click on the downloaded file to launch the setup wizard

Follow the instructions on the screen to complete the installation process

Enter the activation code that you received from LIC when prompted

Restart your computer if required

The activation code is a unique code that LIC provides to its policyholders and investors who want to use lic efeap software. You can get the activation code by contacting your nearest LIC branch office or by sending an email to efea@licindia.com. You need to provide your name, policy number, email address, phone number, etc. in order to get the activation code.

How to Use Lic Efeap Software?

Once you have installed lic efeap software on your computer, you can start using it to manage your lic policies and investments. Here are some of the main functions and modules of lic efeap software:

Create and Update Your Profile and Portfolio

The first thing you need to do when using lic efeap software is to create your profile and portfolio. Your profile contains your personal information such as name, address, email, phone number, etc. Your portfolio contains your policy details such as policy number, plan name, sum assured, premium amount, term duration, etc.

To create your profile and portfolio, follow these steps:

Open lic efeap software on your computer

Select "Profile" from the menu bar

Click on "New" to create a new profile

Enter your personal information in the fields provided

Select "Portfolio" from the menu bar

Click on "New" to create a new portfolio

Select "Add Policy" from the menu bar

Enter your policy details in the fields provided

Repeat steps 7-8 for each policy that you want to add to your portfolio

Click on "Save" to save your profile and portfolio

You can also update or delete your profile or portfolio at any time by selecting "Edit" or "Delete" from the menu bar.

View and Print Your Policy Details and Statements

The next thing you can do with lic efeap software is to view and print your policy details and statements. You can access various information about your policies such as premium due date, bonus accrued, loan available, surrender value, etc. You can also generate various reports such as premium paid statement, maturity statement, loan statement, etc.

To view and print your policy details and statements, follow these steps:

Select "Portfolio" from the menu bar

Select "View Policy Details" from the menu bar

Select a policy from the list that appears on the screen

Select a category from the drop-down menu such as "Premium Due", "Bonus Accrued", "Loan Available", etc.

The information related to that category will appear on the screen

To print this information, click on "Print" from the menu bar

To generate a report for this information, click on "Report" from the menu bar

Select a report type from the drop-down menu such as "Premium Paid Statement", "Maturity Statement", "Loan Statement", etc.

The report will appear on the screen in a printable format

To print this report, click on "Print" from the menu bar

Calculate and Plan Your Premiums and Returns

The third thing you can do with lic efeap software is to calculate and plan your premiums and returns. You can use various tools such as premium calculator, return calculator, maturity calculator, etc. ```html how much return you can expect, and how much maturity value you can get from your policies and investments. To calculate and plan your premiums and returns, follow these steps:

Select "Tools" from the menu bar

Select a tool from the drop-down menu such as "Premium Calculator", "Return Calculator", "Maturity Calculator", etc.

Enter the required inputs in the fields provided such as policy number, plan name, sum assured, premium amount, term duration, interest rate, etc.

Click on "Calculate" to get the output

The output will appear on the screen in a tabular or graphical format

To print this output, click on "Print" from the menu bar

To save this output, click on "Save" from the menu bar

You can use these tools to compare different policies and plans, to adjust your premium and term according to your budget and goals, and to plan your future financial needs.

Access Online Services and Customer Support

The fourth thing you can do with lic efeap software is to access online services and customer support. You can use lic efeap software to connect to the internet and access various online services offered by LIC such as premium payment, policy status, loan status, etc. You can also use lic efeap software to contact customer support and grievance redressal in case of any queries or complaints.

To access online services and customer support, follow these steps:

Select "Online Services" from the menu bar

Select a service from the drop-down menu such as "Premium Payment", "Policy Status", "Loan Status", etc.

A new window will open that will redirect you to the official website of LIC

Enter your login credentials or register if you are a new user

Follow the instructions on the screen to complete the service

To contact customer support or grievance redressal, select "Contact Us" from the menu bar

Select a category from the drop-down menu such as "Customer Care", "Grievance Redressal", "Feedback", etc.

A new window will open that will redirect you to the relevant page of LIC

Enter your details and query or complaint in the fields provided

Click on "Submit" to send your message

You can use these online services and customer support to pay your premiums online, to check your policy status and loan status, to lodge your grievances and feedback, and to get assistance from LIC.

What are the Benefits of Lic Efeap Software?

Lic efeap software has many benefits that make it a useful and valuable application for lic policyholders and investors. Some of these benefits are:

It is free of cost and easy to download and install

It is user-friendly and secure with a simple interface and an activation code

It provides comprehensive and accurate information about your policies and investments

It helps you save time and hassle by eliminating the need to visit LIC offices or agents

It helps you make informed decisions and achieve your financial goals by providing various tools and calculators

It helps you access online services and customer support with a single click

Lic efeap software is a great application that can enhance your experience and satisfaction as a lic policyholder or investor. It can help you manage your lic policies and investments in a convenient and efficient way.

What are the Drawbacks of Lic Efeap Software?

Lic efeap software is not without its drawbacks. Some of these drawbacks are:

It requires a computer with specific system requirements and an internet connection to function properly

It may not be compatible with some operating systems or devices

It may not be updated regularly or have all the latest features or information

It may have some errors or bugs that affect its performance or accuracy

It may not be able to replace all the functions or services of LIC offices or agents

Lic efeap software is not a perfect application that can solve all your problems or needs as a lic policyholder or investor. It has some limitations and challenges that you need to be aware of and deal with.

Conclusion

Lic efeap software is a desktop application developed by LIC that helps lic policyholders and investors manage their lic policies and investments easily and effectively. It has many features such as profile creation, portfolio management, policy details, statements, reports, tools, calculators, online services, customer support, etc. It has many benefits such as free cost, easy download, user-friendliness, security, accuracy, convenience, efficiency, etc. It also has some drawbacks such as system requirements, compatibility issues, update issues, error issues, service issues, etc.

If you are a lic policyholder or investor who wants to use lic efeap software, you need to download it from the official website of LIC, install it on your computer, enter the activation code, create your profile and portfolio, and start using it to manage your lic policies and investments. You can also use it to access online services and customer support if needed.

Lic efeap software is a useful and valuable application that can enhance your experience and satisfaction as a lic policyholder or investor. However, it is not a perfect application that can solve all your problems or needs. You need to be aware of its limitations and challenges and use it wisely and responsibly.

Frequently Asked Questions (FAQs)

Here are some of the frequently asked questions (FAQs) about lic efeap software:

Q: How can I get the activation code for lic efeap software?

A: You can get the activation code by contacting your nearest LIC branch office or by sending an email to efea@licindia.com. You need to provide your name, policy number, email address, phone number, etc. in order to get the activation code.

Q: How can I update lic efeap software?

A: You can update lic efeap software by downloading the latest version from the official website of LIC and installing it on your computer. You do not need to uninstall the previous version or enter a new activation code.

Q: How can I uninstall lic efeap software?

A: You can uninstall lic efeap software by following these steps:

Select "Start" from the taskbar

Select "Control Panel"

Select "Programs"

Select "Programs and Features"

Select "Lic Efeap Software" from the list of programs

Select "Uninstall"

Follow the instructions on the screen to complete the uninstallation process

Q: How can I backup my profile and portfolio in lic efeap software?

A: You can backup your profile and portfolio in lic efeap software by following these steps:

Select "Profile" from the menu bar

Select "Backup" from the menu bar

Select a location on your computer where you want to save the backup file

Select "Save" to save the backup file

You can also restore your profile and portfolio from a backup file by selecting "Restore" from the menu bar and selecting the backup file that you want to restore.