Premium Credit Card

I'm trying to pay my LIC premium using the credit card of my friend is this possible? With his permission and approval. What is the process especially if the date of the grant has expired.

Yes, it is possible to pay the LIC premium online by credit card. There are some prerequisites -

a) You need to register and save your political line ( http://www.licindia.in ). It is an easy process where you must fill in a few details about the policy holder and create an account. You need to provide the user ID and password during registration policy. This username and password will be used for future logging in the website for online statements, paying the premium and view further details.

b) To pay online premium you must submit a declaration form to the nearest LIC branch that verifies your address and your username will pay the premium line. It is usually in one or two days after sending the form to the LIC.

Where the due date of the grant has expired, you still have a period of grace of 1 month (in most cases) to deposit the amount of premiums. If it will not exceed one month, you may pay a penalty as well. For the penalty amount please refer to the Branch LIC.

No, you can not pay your premium by credit card other policies. But you can pay by credit card your own LIC, if you have. Every insurance company has 15-30 day grace period to pay your premiums after your due date based on your method of payment. If your payment annually, quarterly or semi, then there is a grace period of months without any late fees and 15 days for each month. You can pay by check or cash at any branch near LIC or check in qualified centers for collecting premiums (CLIA) or 24X7 ATM (Corporation Bank / Axis Bank) or from your account Netbanking.
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