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मुख पृष्ठ » प्रीमियम भुगतान » वैकल्पिक चैनल के पूछे जाने वाले प्रश्न
वैकल्पिक चैनल के पूछे जाने वाले प्रश्न

FAQ of Alternate Channels

  Alternate Channels Page

What is ECS?
ECS stands for Electronic Clearance Service. Policy holder gives standing instructions to LIC through a mandate to debit his bank account on settlement date for payment of his premium.

What is required to avail this service?
Policy Holder has to submit a duly signed Mandate Form attested by his bank to the Branch Office. Copy of the mandate form is to be submitted to his bank also.

What is Mandate Form ?
It is an authorization letter from Policy Holder for deduction of Premium, from his account.

What are the details to be furnished in Mandate Form?
Bank Name and address, Account holder's Name, Account number of the customer, Account type (Saving or Current etc), MICR Code (available on the cheque leaf).It is to be signed by the policy holder and also by account holder and must be attested by the Bank Official. Phone numbers and email-id also should be mentioned
Where to submit this mandate form?
To any LIC Branch Office which is a servicing branch at least one policy mentioned in the mandate.

Any Extra Amount is charged for this facility?
No extra amount is charged for this facility. 5% extra premium charged for MLY policies is also waived for MLY ECS mode policies.

Whether this facility can be taken for existing policies or available only for new Policies?
This facility is available to all new policies as well as existing policies including ULIP policies

When the premium amount will be deducted from bank account of the policy holder?
The debit dates fixed by Central Office are 7th, 15th and 28th of the month

If Bank account is changed then what is the procedure?
A separate mandate form with new bank details is to be submitted to LIC office which comes under the ECS Centre of your Bank Account. "Form for change of Bank Details" should be marked prominently on the mandate form.

What is to be done in case of Mandate Failure?
Premium should be paid across the cash counter in the branch all the dues till the date of payment. Subsequent premiums will be collected thru ECS.

I have bank account in Mumbai, but my policy is being serviced by Delhi Branch. Can I opt for ECS?
Yes, it is possible. Policies can be serviced by any LIC Branch in India but Policy Holder should have his Bank Account in specified areas. LIC is having more than 51 ECS centers. The Customers bank account should be in any bank-branch under ECS center.


How to register for premium payment through Bill Pay/ATM?
Registration through Bill Pay can be done through the Bank/Service provider's website or through a physical form issued by them. 

On being approached, the service provider obtains a written mandate from you, authorizing him to realize the billed amount directly from your bank account. You may have to give the bank account details and other requisite details as required by the service provider. 

ATM facility is available with AXIS BANK and CORPORATION BANK

Whether all policies can be registered through Bill Pay?
Only Non-ULIP, inforce policies can be registered through Bill Pay. MLY mode is not accepted through this payment mode.

In which cities do the authorised service providers operate from? has its operations in Mumbai, Delhi, Kolkata, Chennai, Bangalore, Hyderabad, Ahmedabad & Pune 

Tech has its operations in Mumbai, Delhi, Kolkata, Chennai, Bangalore, Ahmedabad, Pune, Baroda & Surat. They also have tie-ups with their partner banks viz. Bank of Baroda, IDBI Bank, ABN-AMRO Bank.

How much time is taken for the registration?
It is a one time process and forms are different for different banks / service providers. After submission of data to the bank / service provider the same is received by PCMC within 3-4 days for which confirmation / rejection is conveyed. Total time taken for registration may extend up to 10 days.

How to add the policy details at the authorised bank/service provider's web-site?
Using the login & password provided by the bank/service provider, you can log on to your account page at the bank/service provider's website. 

You have to add LIC as biller with the policy details and other requisite information. In general, you would have to enter the policy number, the installment premium, email-id and any other information. This is a one-time process for each policy. 

Some of the service provider's/bank's web-sites have a demo page showing the process of adding the billers.

How does LIC acknowledge the registered policy details?
The bank/service provider sends these details to LIC for validation & confirmation of the registration data at pre-determined intervals. 

LIC validates the registration data, appends the same to the database and informs the bank/service provider about the registration status. 

Bank/Service Provider inform the policy holder through SMS/mail/Message on their website.

When can I pay the insurance premiums?
On confirmation of the registration, LIC will regularly send the bills/invoices mentioning the due dates, premium amount, late fees, validity date, etc to the service provider/bank. 

As and when premium becomes payable under the registered policy, LIC sends the bills to the bank/service provider, and the information will be displayed by the bank/service provider in your net-banking account page. 

Amount can be paid through net banking/credit card or any mode through which the payment is registered by you. Standing instructions also can be given to the bank/service provider to debit the account on a specific date.

What are the charges for the payment through BILL PRESENTMENT?
The System is free for the customers. For LIC payments no extra amount will be charged by the banks or the service providers.

What are the important points to be noted for availing this payment facility?
Once registered for Premiums payments thru Net-Banking/Phone-Banking, you should avoid paying at cash counters, because there are many instances where payment for the same due-month is received twice. 

Since renewal premium receipts are dispatched to the postal address as per your policy records, please ensure that your policy records are updated with your current address. 

In case you have not received the renewal premium receipt, you may collect the premium paid certificate from any of the nearest LIC branch. Duplicate receipts cannot be printed in any case. 

As the payment is received by LIC through the Bank or the service provider, same may not be received on the same day of payment by the policy holder, hence there is short time-lag between the date of debit in your bank account and the date when the policy reflects the updated status.


What are the benefits of paying your LIC premiums through net-banking/phone-banking?
You as our policyholder:Can decide and authorize payments 24hrs a day * 7days a week because of anywhere & anytime access to internet. 

Can make premium payment within the comforts of your home or office, and avoid personal visit to LIC branch 

Will save time by not waiting in queues for making the payment. 

Can avail the free service from LIC, as you don't have to pay any charges to LIC or its authorized agencies for this additional benefit. 

Can choose the bank account you want to pay from,. 

Can decide the date on which you want your account to be debited. 

Can also view your premium dues and other policy details

Which policies are eligible for payment of premiums thru this facility?
Premium can be paid only for In Force policies. 

All modes are allowed for premium payment. 

Now Premium for ULIP policies excluding Health Insurance policies can be paid.
What are the features of Online Premium Payment?
The Payment and updation of master happen in real time. Digitally signed receipts issued immediately.

What is the difference between Online Premium Payment and Bill Pay Payment Modes?
Under Bill Pay (EBPP) policy holder registers through the bank/vendor and LIC accepts the registration. Demand invoice is sent and payment is received through the vendors. The payment can be made through net banking, phone banking, credit card, ATM or any other mode. Receipts are printed and sent by post. Under online premium payment, payment is made only through net-banking account through licindia website. Credit Card Payment is not available. Online, digitally signed receipt is issued instantly.
I tried to make the payment but I got error page. I did not get any receipt though my Bank account was debited.
If your account is debited and the receipt is not generated it may be due to session timed out or link failure. For such cases the receipt is generated offline and is sent to the email-id as mentioned in the profile. The receipt will also be available in the browser and can be viewed through option "view pay premium online receipt". This may take 3-4 working days time as the amount is received at our end after 2-3 days.
When the premium can be paid?
Premium can be paid 30 days before the due date to till the policy is in force. Last premium before maturity under Qly & MLY mode cannot be paid online.

How & by what time will my policies get updated and reflect the latest premium payment position on the PORTAL?
Normally updation happens in real time, it may take some time is payment is made outside office hours or on non-working days. May take 3-4 days if transaction was not successful due to session timed out or any other reason.
What is the acknowledgement given for payments made?
Online digital receipt is generated instantly.

What is an e-receipt? Whether it is valid for Income tax purpose?
E-receipt is onl