India’s largest insurance company, Life Insurance Corporation has announced an extension on its premiums. The extension was announced on Saturday.
LIC has announced an extension of 30 days for payment of premium due in March and April 2020. For February premiums, where grace period was expiring after March 22, relaxation is allowed up to April 15.
LIC also informed that policies can be revived without any evidence of good health and this can also be done online. Also, LIC’s policyholders can pay premiums through LIC’s digital payment options without any service charge.
It also informed that policyholders do not need to register on the website for paying premium but can directly pay by giving basic details. Premiums can also be paid by downloading mobile app LIC Pay Direct.
Policy premiums are accepted through Net banking, Debit Card, Credit Card and on payment apps such as Paytm, PhonePe, Google Pay, BHIM, UPI among others.
Premiums can also be paid at all IDBI and Axis Bank branches and in cash through Common Service Centres (CSC), operating at block level.
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