Simultaneously successful/unsuccessful transaction message will be flashed. The refund process shall take 6 to 8 days. Deposit up to date premiums for the policy ( all the dues) and re-register for NACH by submitting fresh mandate to Servicing Branch. The refund process may take 6 to 8, Convenience fee is levied to customer for all transactions made through. LIC India Official Portal LIC Policy Number 858 FAQ It then displays the payment details according to the premium selected. The payment gateway (PG) initiative is an important component of the offer. It is the value or the amount paid to the policyholder on discontinuation of policy and collects it from LIC. The Payment and updation of master happen in real time. If the amount has been deducted from your account and has not been adjusted in your policy for more than 10 days, kindly contact your banker as the amount would be lying in the suspense account of your banker to be reversed in your account. Receipt will be posted to the address mentioned in the policy records after two or three days of accounting by LIC in case of old registrations only. Duplicate payment is being refunded to our service provider to be credited back to your account. Follow the below steps to register and check the status online. Premium can be paid for all in force non-sss policies. Premium can be paid 30 days before the due date to till the policy is in force. It saves time moreover money for the policyholders. LIC Online Premium Payment. On confirmation of the registration, LIC will regularly send the bills/invoices mentioning the due dates, premium amount, late fees, validity date, etc to the service provider/bank. Whether the receipt issued by Cash Counter can be submitted by IT authorities? LIC Policy Premium Payment: While paying your policy premiums via digital modes, like net banking and mobile banking is always convenient and does not require one to visit LIC branches or authorised banks in physical capacity, it is important to be careful while using this feature. Premium entered is incorrect in case of going through LIC Pay Direct. You 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. Whether I can make the payment through cheque drawn on any other bank? Be a Corporate Agent; Be an Agent (Individual) Plan NAV . Step 11 : Fill all the details and click on the ‘Make Payment’ button, your payment will be processed. This software made our lives very easy for making tension-free payments from wherever we are. But Policy Holder should have account of corebanking facility. How to add the policy details at the authorised bank/service provider’s web-site? No extra amount is charged for this facility. If you want to buy the best LIC policy for a child, there are two plan options which you can consider. No, presently payment can be made only by cash. MLY and Salary Saving Scheme (SSS) mode policies are not accepted through this payment mode. Receipt can be obtained by giving policy number and transaction date. Whether intimation about mandate acceptance/rejection is given to customer? This is an easy way to pay your insurance premiums conveniently without any hassle. Whether any extra charges be collected by the Service Provider? Maximum collection can be done up to a certain pre-decided limit after which the amount collected is to be invariably deposited in the Axis bank(cash only) or the selected LIC Branch or cash invoice may be deposited online on LIC portal using Net Banking Account. As per the rules and regulations, the bonus also gets attached to it if the policy is participating one. Whom to contact for getting authorization to collect the premium? If you have taken any RIDER along with your policy, then payment has to be made within the grace period only. How to register for premium payment through Bill Pay/ATM? Payment made, Account debited but e-receipt not received. As the payment is received by LIC through the Bank or the service provider, same may not be received on the same day of payment by the policy holder, hence there is short time-lag between the date of debit in your bank account and the date when the policy reflects the updated status. Single receipt will be issued if payment is made for more than one policy by the policy holder. There are two ways through which we can get the LIC policy receipt-offline and online. This can be printed or mailed to the email id you have specified during your Registration. What are the important points to be noted for availing this payment facility? How to Check the LIC Policy Surrender Value? After the cash payment for due LIC premium, a common mode of payment is LIC premium through Cheque. 5% extra premium charged for MLY policies is also waived for MLY NACH mode policies. What are the charges for the payment through BILL PRESENTMENT? FAQ of Alternate Channels; Payment at Cash Counter ; Payment Through Alternate Channels; Join Our Team . Yes, premium can be paid at cash counter in Cash or Cheque during the pendency of the mandate. Credit cards allowed are VISA, Master and Amex. Make Payment Via Amazon ICICI Card And Get 2% Cashback. Enter Policy Details and Pay using NetBanking or Debit/Credit Cards. by simply logging on to the official website of LIC India with your login credentials. As the payment is received by LIC through the Bank or the service provider, same may not be received on the same day of payment by the policy holder, hence there is short time-lag between the date of debit in your bank account and the date when the policy reflects the updated status. 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