MUMBAI: Life Insurance Corporation on Saturday announced an extension of 30 days for payment of premium due in March and April 2020 to mitigate the hardships being faced by policyholders in the wake of COVID-19.
For February premiums, where grace period was expiring after March 22, relaxation is allowed up to April 15, LIC said in a statement here.
Further, it said wherever policies can be revived without any evidence of good health, this can also be done online.
LIC’s policyholders can pay premiums through LIC’s digital payment options without any service charge.
It also informed that policyholders do not need to register on the website for paying premium but can directly pay by giving basic details.
Premiums can also be paid by downloading mobile app LIC Pay Direct. (AGENCIES)
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