Common questions

How can I set auto debit in LIC?

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How can I set auto debit in LIC?

LIC Customer Can Now Auto Pay Their Insurance Premiums

  1. Log in to your bank’s website or download its mobile app and log in.
  2. Once logged in, select the option saying ‘Pay Bills’
  3. Now among the available options for Billers, select ‘Insurance’ as the option.
  4. In the drop down menu, select LIC as the biller.

Can LIC premium be auto debit from bank account?

Premium can be paid either by giving standing instructions to the bank to debit the bank account/credit card account on a particular date (Auto Pay) or manually accepting the bill which can be paid by login to the banker’s site and making the payment online (View & Pay).

How can I automate my LIC premium online?

Here is how you may use this facility:

  1. Log in to your bank’s website or download Banking App on mobile device and log in.
  2. Select ‘Pay Bills’
  3. Choose “insurance” as the category of Biller.
  4. Click on “Insurance” and view the list of insurance companies in dropdown menu.
  5. Click on ‘Life Insurance corporation Of India”
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What is standing instruction mode of payment?

Standing Instruction is the mode of payment (credit card, direct debit, echeck) agreed by the customer to pay against a package for each payment term during the course of subscription. Thorough standing instructions customer can instruct banks for regular funds transfers to make payments automatically.

How can I know my LIC policy details?

How to Check LIC Policy Details Online?

  1. Step 1: Go to the official LIC website, fill in your credentials like username and password.
  2. Step 2: Login to your account and select the option ‘View Enrolled Policies’.
  3. Step 3: You will be directed to a page where you can see all the listed enrolled policies.

What is E and P in LIC receipt?

LIC accepts electronic payments only for those policies whose premiums are payable on a quarterly, half-yearly or yearly basis. You will receive a receipt from LIC at your registered address (mentioned in the policy) against each successful electronic premium payment you make through the Bank.

Do LIC agents pay first premium?

Generally, the commissions start from around 10\% to 15\% of your premium. This is for the first premium. The next three years, the agent will get around 7\% as commission and the rest of the term, 5\%. So the higher the premium you pay, the more the agent benefits.

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How can I check my LIC policy without registration?

The Life Insurance Corporation of India provides an SMS number. It can be used to verify the status of a policy without having to register. You need to SMS ASKLICSTAT to 56767877 from your registered phone number. Certain official and government procedures require proof of an individual’s existence.

How can I change my LIC policy to electronic?

To convert into e-policy, a conversion form must be filled which includes name of the policy holder, policy number, e-insurance account number.

  1. Open an account.
  2. Authorised representative.
  3. KYC documents.
  4. Submisssion.
  5. Conversion form.
  6. Points to note.

How do you set standing instructions?

Select the start date for the standing instruction. Define the frequency at which the instruction is performed. Enter a description….To add standing instructions for your accounts:

  1. Click Requests > Standing Instructions.
  2. Select an option for standing instructions.
  3. Click [Proceed].

How do I set up a standing order?

The first step in setting up a standing order requires the payer to contact their bank to request it. With some banks and building societies, standing orders can be set up online or over the phone. The payer then completes a standing order form (paper or online) and gives it to their bank.

How can I know my LIC policy number by SMS?

Life Insurance Cover (LIC) is a policy offered by the Life Insurance Corporation of India….Details 2:

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Enquiry Type SMS Code to be sent
For finding about Installment premium ASKLICPREMIUM
For amount revival ASKLICREVIVAL

How can I make LIC premium payment online?

You can download LIC mobile app and make premium payment online using windows or android based smart phone. Another way of making LIC premium payment online is via EBPP or BILL PAY. Only selected banks offer this facility. These banks are ICICI bank, Axis Bank, Citi Banks, HDFC bank and Federal Bank.

What are standing instructions?

What are Standing Instructions? The Standing Instructions feature facilitates periodic scheduled payments for funds transfer, third party payment, and RTGS/NEFT/State Bank Group transactions. 2. What are the accounts on which I can register standing instructions?

How do I enable standing instruction on debit card?

Standing Instruction on Debit Card can be enabled using the ‘Set/Modify Standing Instruction on Debit Card’ option and click on ‘Set’ against the registered biller. You can also enable Standing Instruction on Debit Card for a biller at the end of the Biller Registration Process.

Can I modify or delete the standing instruction on my bill?

You can Modify or Delete the Standing Instruction whenever you want. You will receive alerts regarding the bill payments on your registered mobile number. Offer not valid on Mutual Funds, Insurance, Non-Utility & non-Telecom bills.

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