Regular retirement payouts from an active annuity account.
: Stands for Principal Life Insurance Company , a major subsidiary of Principal Financial Group .
Log into your bank’s online portal, navigate to the "Standing Instructions" or "Bill Pay" section, look for the PLIC-SBD mandate, and click Cancel/Delete . Requesting a Refund for Unauthorized Charges
Payouts from a critical illness or disability claim. plic-sbd insurance claim on bank statement
If you have no such policy, contact your bank immediately to file a dispute. Fraudulent insurance charges are a known tactic used by scammers to siphon small amounts from accounts.
Unfamiliar line items on a financial statement should always be audited to protect against billing errors or identity theft. Follow these steps to verify the legitimacy of the entry: Step 1: Check Your Insurance Portfolios
If you have any concerns or discrepancies regarding the P LIC-SBD insurance claim on your bank statement, contact the LIC or your bank's customer support for assistance. Regular retirement payouts from an active annuity account
When consumers review their bank statements they sometimes encounter terse, cryptic transaction descriptions. One such example is the label “PLIC‑SBD Insurance Claim.” Understanding what this descriptor likely represents, why it appears on your statement, and how to verify its legitimacy can reduce confusion and help guard against errors or fraud.
If you don’t recognize the entry after these steps, proceed to the next section.
You can also reach out to the relevant PLIC entity using your policy number and other identifying information to confirm whether they have initiated a claim payment to your bank account. Requesting a Refund for Unauthorized Charges Payouts from
If you independently purchased a life insurance policy, an individual disability policy, or an annuity from Principal Financial Group, you likely set up recurring monthly payments. These automated drafts routinely generate the PLIC-SBD descriptor. 3. Account Errors or Fraud
When this appears on your statement, it means a transaction has occurred relating to a supplemental health, life, or disability insurance policy managed by Principal. Why is PLIC-SBD on Your Bank Statement?
When you see a P LIC-SBD insurance claim on your bank statement, it means that the LIC has processed a claim and paid out the insured amount to you or the nominee/beneficiary. This transaction is usually a one-time payment, and the amount is typically substantial.
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