LIC policy holder? Life Insurance Corporation has good news for you! - TSFP
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LIC policy holder? Life Insurance Corporation has good news for you!

LIC policy holder? Life Insurance Corporation has good news for you!

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It is safe to say that you are LIC policyholder and need to pay extra charges during the installment of approach premium? At that point from now, you don't need to pay any extra charges on LIC arrangement premiums. The Life Insurance Corporation or LIC has postponed off the accommodation expense on all installments, including installment through charge cards, to the national back up plan, powerful December 1, to advance exchanges. 




LIC in its announcement said that Visa started installments towards recharging premium, new premium, or reimbursement of advance and enthusiasm on advances against the arrangements won't pull in any extra charges or accommodation expense, from December 1. 

"This office of free exchanges utilizing Mastercards will be relevant to and executed over all gathering frameworks - card less installment and card plunge/swipe on retail location machines," LIC said in an announcement on Monday. 

Prior, LIC had enabled policyholders to resuscitate their strategies that have passed over two years. "LIC brings an amazing open door for every one of its policyholders to restore their slipped by approaches. The strategies which have passed for over two years and were not permitted to be restored before can likewise be resuscitated now," LIC said in a tweet. 

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After the Irdai Product Regulation 2013, which happened from January 1, 2014, recovery period was confined to two back to back a very long time from the date of first unpaid premium, during which the policyholder is qualified for resuscitate arrangement which was ended due to non-installment of premium. So prior all approaches taken after January 1, 2014, couldn't be restored on the off chance that they stayed in slipped by condition for a period surpassing two years. 




With the end goal of broadening the advantage of proceeded with life spread, LIC drew nearer Irdai and expanded the advantage of longer restoration period to even those policyholders who purchased arrangements post-January 1, 2014, LIC said. Presently, even those LIC policyholders who purchased their arrangements post-January 1, 2014 can resuscitate their non-connected strategies inside 5 years and unit-connected approaches inside 3 years of first unpaid premium, it included. 

Presently the installments can be made utilizing VISA/Master Credit Card (Domestic Only) with ZERO accommodation charges. 

When you have enlisted your policy(s), you can tap on the connection 'Pay Premium Online' to see a rundown of approaches whose premium is expected. 

You have a decision to choose the approaches for which you need to pay premium. 


You will be coordinated to a page where you can browse different banks for installment and will be coordinated to the login page of the chose bank. It is fundamental that you have a net financial record with in any event one of these banks. 




At the bank site you should login with your net banking username/secret word. On fruitful login, the aggregate sum to be paid by you towards LIC will be shown. 

If you don't mind check your parity (showed) and affirm the exchange to the bank. All the while effective/ineffective exchange message will be flashed. 

On effective exchange, a carefully marked e-receipt will be created and messaged to you. In the event of a fruitless exchange you will be educated and the explanation thereof.For nitty gritty documentation on the most proficient method to check the advanced mark on the e-receipt

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