Nagpur: In running up to the upcoming Public Offering (IPO) by Life Insurance Corporation (LIC), the largest policyholder of the country’s life insurance company rushes to get a permanent account number (PAN) related to their policies.
This is because it is possible that the existing policy holders can obtain shares with preferential beness mode.
Berpasted by the return of interesting stock markets in the past amid a lower deposit rate regime, some people, who are not active in equity, now want to try their luck at the IPO.
LIC agents have also helped their clients to get their pan connected.
This has caused the policy holder to march in the agent ‘or the LIC branch office to register PAN, said the source.
Bharat Parekh, known as the largest insurance agent in this country, said he had served a number of clients for their PAN registration today.
Parekh said his office might have served 10,000 clients.
Even others have been involved in this work for more than a month now.
Even though the agent’s service is limited to getting associated with pots, those who do not have a Demat account are advised to get it from wherever they want, he said.
A senior official at the LIC office in Nagpur said even as a figure must definitely not be available, a large number of policyholders have connected their pan with their policies.
GV Iyer, a financial advisor who also deals with insurance, said there is indeed a flow of policy holders who want to get a related skillet.
Some of them have not made updates for years.
Now, because they want to take part in the IPO, there is a hurry.
One advisor shares a message where the policy holder is guided to register a pan.
It also said that even agents can do it for them.
Even because it has become mandatory to get a registered pan, there are many people who have used policies many years ago and have not had a relationship, said a source.