LIC – Life Insurance Corporation is the most important and oldest life insurance company which was established in 1956 it provides insurance solutions to many of customers as the time it was the only insurance provider in the country.
The main objective of LIC is to facilitate life insurance services mainly to the rural, social and economically backward sections of the Indian society and helps its customers to save their money with attractive saving features.
Different ways of LIC Premium Payments:
LIC policy holder can pay their premium through LIC Portal online; it provides different services through online like
Point to Remember before paying LIC Premiums Payments through LIC Website:
- You need to provide your correct and valid mobile number and email id which enable you to get a prompt when your next premium is due.
- The digitally signed receipt will be sent to your e-mail id on successful operations of your payment mode
- You have to ensure that your online premium payment is made against the policy in your name or your spouse/ children, no third party payment is allowed using this mode of payment.
- Once after filling the form and submission, it directs you to a new page with the form heading policies already selected for premium payments which consist details like Policy numbers, premium amount, DOB, Mobile number and Email ID which needs to be confirmed before making payment.
- this online payment service can be availed by the customer without any extra fee or charges
- Premium payments can be done before 30 days before due date, and until the policy in force. But as per the term insurance plans, the advance payments period allowed is 15 days.
- premium payment crossed due date, the late fee at the rate of 8% will be levied
- premium payments cannot be paid for coming financial year.