There was a time people were not ready to pay bills online. Now, in this demonetization time, every one is shifting to card payments, e-wallets, and online banking. In LIC also the payment gateway is available within few clicks.
Now the LIC premium payments can be made using VISA/Master Credit Card (Domestic Only) with some convenience charges.
Here are the benefits of paying your LIC premiums through net-banking/phone-banking?
1. As a policyholder, you can decide and authorize payments 24hrs a day * 7days a week because of anywhere & anytime access to the internet.
2. Can issue payment instruction within the comforts of your home or office, and avoid the personal visit to LIC branch. You can pay while you are traveling, or in office. The only thing you need is a smartphone.
3. Will save time by not waiting in queues for making the payment.
4. Can avail the free service from LIC, as you don't have to pay any charges to LIC or its authorized agencies for this additional benefit.
5. Can choose the bank account you want to pay from, any or all of your bank accounts can be registered with the service provider.
6. Can decide in advance the date on which you want your account to be debited.
7. Can choose to modify your instructions during the intervening time.
8. You will get reminders and alerts by email from the banks and service providers about the premium dues.
9. Can avoid expenses of postage/courier in sending the remittance to LIC.
10. Can avoid demand draft/pay order charges for outstation policy premiums. You can also view your premium dues and other policy details.