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Great news for LIC policy buyers! 30 days discount for premium payment

New Delhi.If you have a Life Insurance Corporation of India policy and forgot to pay your premium, then there is news of relief for you. Because policyholders who have to pay the premium in March and April now have a 30-day grace period. At the same time, those whose policy ended the grace period on March 22. The last date for them is April 15.

Service charge removed- LIC has announced that it will not charge any service fee to those who make digital payments. LIC also provides the facility to pay premiums online. You can now pay your premium from any platform.

If this time you also forgot to pay your policy premium, then don’t worry, because LIC gives you a grace period to pay the premium. This gives you more time to pay your premiums.

Let’s know everything about her…

First of all, know what LIC said and what will happen nowLife Insurance Corporation of India (LIC) has said in its statement that in view of the extraordinary circumstances that have arisen in the country in the wake of Kovid-19, LIC has provided premium relief to its policyholders until April 15. of 2020. This decision has been made for all those customers who have not been able to pay the premium for any reason.Let’s know everything related to the payment of the policy premium…

What happens if the premium is not paid? According to the information provided on the LIC website, there is a grace period for the payment of the premium. Even if you haven’t paid your premium by the due date, you still have time to pay your premium interest-free.

>> This period is called the grace period, ie grace period (some plans are not included in this). The grace period is fifteen days from the expiration date for policies where the premium is paid monthly.

Also Read: Get FD At These Banks, Your Money Will Double Soon, You’ll Get Up To 9% Interest

>>The term is one month but not less than 30 days for policies with quarterly, semi-annual or annual premium payment.

Where and how to pay the LIC policy premium?

(1) According to the information provided on the LIC website, premium payment via the Internet is made through Internet service providers such as HDFC. ICICI Bank, Times of Money, Bill Junction, UTI Bank, Bank of Punjab, Citibank, Corporation Bank, Federal Bank and Bill Desk.

(two) You can pay anywhere and anytime through the LIC app. This app is available on the Play Store. In this, all types of digital payment options will be available, including internet banking.

(3) The premium can also be paid through Corporation Bank and UTI Bank ATMs.

(4) The premium can also be paid through the electronic clearing service. This service has been started in Mumbai, Hyderabad, Chennai, Kolkata, New Delhi, Kanpur, Bangalore, Vijayawada, Patna, Jaipur, Chandigarh, Trivandrum, Ahmedabad, Pune, Goa, Nagpur, Secunderabad, Visakhapatnam.

(5) A policyholder, who has an account with any bank that is a member of the local clearing house, may pay the premium through ECS at their own discretion. Policyholders who wish to make use of this facility must fill out a form present at our branches and departmental offices. You have to get the bank to certify it. Such certified forms must be filed with our branch/division office.

(6) Premium checks are accepted at Citibank kiosks at Industrial Assurance Building at Churchgate in Mumbai, New India Building in Santacruz, Jeevan Shikha Building in Borivali, wherever policy is taken in India.undefined

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