EPF Withdrawal to fund an LIC Policy
EPF can be also withdrawn to fund an LIC Policy provided some certain conditions are satisfied as listed below
- Should have completed 2 years of services
- Only from Employee’s EPF Share (Including interest)
- To pay the first and other premiums of LIC policy
- LIC’s policy details should be provided with complete detail
This will enable to fund your LIC policy directly from your EPF Employee contribution. Though you already have EDLI.This is also an additional assurance for you.