Big news for LIC policy buyers! 30 days exemption for paying premium

New Delhi.If you have a policy of Life Insurance Corporation of India (LIC-Life Insurance Corporation) and you have forgotten to pay its premium, then there is relief news for you. Because the policyholders who have to deposit the premium in March and April have now got a grace period of 30 days. At the same time, those whose policy grace period was ending on March 22. The last date for them is 15th April.

Abolished service charge- LIC has announced that it will not charge any service charge from those making digital payments. LIC also provides the facility of online premium payment. You can now pay your premium from any platform.

If you have forgotten to pay the premium of your policy this time too, there is no need to worry, because LIC gives you a grace period to pay the premium. This gives you more time to pay the premium.

Let us know all the important things related to this…

First of all let us know what LIC said and what will happen now– Life Insurance Corporation of India (LIC) has said in its statement that ‘In view of the extraordinary circumstances arising in the country in the wake of COVID-19, LIC has given relief to its policyholders in premium payment till April 15, 2020. This decision has been taken for all those customers who have been unable to pay the premium due to some reason.Let us know all the important things related to paying policy premium…

What will happen if premium is not paid? According to the information given on the LIC website, there is a grace period for premium payment. Even if you do not pay the premium by the due date, you still get some time to pay the premium without interest.

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

read this also-Get FD done in these banks, your money will double as soon as possible, you are getting interest up to 9%.

>>For policies with quarterly, half yearly or annual premium payment this period is one month but not less than 30 days.

Where and how to pay LIC policy premium?

(1) According to the information given on the website of LIC, premium can be paid through internet through service providers like HDFC. Bank, ICICI This can be done through Bank, Times of Money, Bill Junction, UTI Bank, Bank of Punjab, Citi Bank, Corporation Bank, Federal Bank and Bill Desk.

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

(3) Premium can also be paid through ATMs of Corporation Bank and UTI Bank.

(4) Premium can also be paid through 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 which is a member of the local clearing house, can pay the premium through ECS as per his wish. Policyholders wishing to avail this facility will have to fill a form available at our branches and departmental offices. It will have to be certified by the bank. Such certified forms will have to be submitted to our branch/divisional office.

(6) Irrespective of where the policy is taken in India, premium checks are accepted at Citibank kiosks located at Industrial Assurance Building at Churchgate in Mumbai, New India Building at Santa Cruz and Jeevan Shikha Building at Borivali.

Tags: business news in hindi, Corona, corona virus, Coronavirus Epidemic, Coronavirus in India, COVID 19, Covid19, Lockdown. covid 19

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