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ALTERNATIVE CHANNELS OF PREMIUM PAYMENTS
Electronic Clearing Service (ECS) :
No need to visitthe branch anymore. A Policyholder with an account in any bank which a member of the clearing house can opt for ECS debit to pay premiums.
The interested policyholder has to fill a mandate form given by LIC. The form is an authorisation to deduct premium from his/her account.
Three simple steps for Registration of ECS :
1) Pick up application (mandate Form) from any Brach/Agent/Download from www.licindia.com
2) Submit mandate from duly attested by banker along with the copy of the cheque in the servicing branch.
3) The copy of the mandate form should be furnished to the bank.
Note : There should be a gap of two months between submission of mandate and next due date.
ATMs - of Corporation Bank and Axis Bank :
The account holder has to first register his request wiht the bank through the mandate.On payment of premium the policyholder will get an acknowledgement receipt from the ATM and later on a designated branch will send the receipt to the policyholder. No charges are to paid either to LIC or to the Bank.
Directly you can pay premium in cash counters of AXIS Bank and corporation Bank.
Internet payments:
Online Payment Gateway is LIC initiative to provide you with on demand service within a few clicks! You can now have many of the functionalities that were available only at a branch office, online at yourfingertips.
The payment gateway (PG) initiative is an important component of the offer. It provides for real-time payment of renewal premium-dues through the portal.
This functionality is available only to registered customers who have enrolled their policies.
Policyholders can pay premium online by using netbanking account.
For this on has to enroll one policy in at www.licindia.com by clicking the link "Pay premium
online".
Premium receipts are mailed instantly. This service can also include automatic reminders to the policyholders for premium payment.
Policy holders staying out of india ( NRIs ) can also avail of this facility.
A simple step-by-step guide on how you
can go about using this facility:
- Once you have enrolled your policy(s),
you can click on the link Pay
Premium Online to see a list
of policies whose premium is due.
- You have a choice to select the policies
for which you want to pay premium.
- You will be directed to a page where
you can choose from multiple banks for
payment and will be directed to the
login page of the selected bank. It
is essential that you have a net banking
account with at least one of these banks.
- At the bank site you will need to
login with your net banking username/password.
On successful login, the total amount
to be paid by you towards LIC will be
displayed.
- Please verify your balance (displayed)
and confirm the transaction to the bank.
Simultaneously successful/unsuccessful
transaction message will be flashed.
- On successful transaction, a digitally
signed e-receipt will be generated and
e-mailed to you. In case of an unsuccessful
transaction you will be informed and
the reason thereof.
Benefits
- There is no further registration
involved at the service provider end.
- There is no time lag from the date
of payment to obtaining receipts.
- It is also a secure arrangement,
as the policy data is not shared between
LIC and Banks over net as only the amount
to be paid is encrypted and transported.
The login id at both the sites (LIC
and Bank) is known only to you.
- And above all there is no charge
for you to avail this service.
This facility is available for all non-ULIP policies.
Credit card payments are not accepted under this payment facility.
LIC premiums can be paid by using Net Banking accounts with any of the following banks:-
- Bank of India
- Union Bank of India
- Punjab National Bank
- State Bank of India
- State Bank of Indore
- HDFC Bank
- ICICI Bank
- Axis Bank
- Citibank
- IDBI Bank
- Centurion Bank of Punjab (erstwhile Centurion Bank)
- Centurion Bank of Punjab (erstwhile Bank of Punjab)
- IndusInd Bank
- ABN AMRO Bank
- Kotak Bank
- Bank of Baroda
- Bank of Baroda - Retail NetBanking
- Bank of Baroda - Corporate NetBanking
- State Bank of Patiala
- State Bank of Bikaner & Jaipur
- State Bank of Travancore
- City Union Bank
- Indian Overseas Bank
- Karnataka Bank
- Oriental Bank of Commerce
- State Bank of Hyderabad
- State Bank of Mysore
- State Bank of Saurashtra
- South Indian Bank
- Yes Bank
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LIC fresh policy, Pls call us at 9480240513 or write to support@licbangalore.com.
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Call 94802 40513 
