Renewal Premium can be collected for ULIP & HEALTH Insurance Policies also.ġ. It is advisable to refrain from paying premium through this channel if the policies are already registered under BILL PAY option of Electronic Debit to avoid duplicate payment.Ħ. Acceptance of premium can be done up to 30 days before the Due Date.ĥ. However premium will be accepted online only if last NACH transaction is dishonored and NACH mandate status is pending.Ĥ. Premium for NACH mode cannot be paid online. Premium for policies under Salary Savings Scheme (SSS) mode cannot be paid online.ģ. Premium can be collected for Ordinary In force and Spot Revival allowed policies under all Plans and modes (YLY, HLY, QLY & MLY ordinary).Ģ. Premium payment facility is available to both registered as well as Non-registered customers by using PAY DIRECT option on LICs website - Relevant Conditions:ġ. Online Premium Payment is LICs initiative to provide on demand premium collection service within a few clicks! It provides for real-time payment of renewal premium dues through the LIC portal.
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