If you have linked LIC premium EMI through any bank then money will get deducted through ECS (Electronic Clearing System) every month automatically. Your bank runs an ECS on the debit date and if there isn't enough funds, bank may run an ECS again at a later date (usually a … [Read more...] about What to do if your LIC ECS/NACH premium payment Bounced?
Banks are switching from ECS (Electronic Clearing System) to NACH (National Automated Clearing House). So if you want register ECS again with another bank account you need to give fresh NACH mandate, after clearing pending premiums. Things to do First: 1. If you want to … [Read more...] about How to Change LIC NACH/ECS Mandate from one Bank to another Bank?
What is NACH Reserve Bank of India (RBI) has set up a new nodal authority - National Payments Corporation of India (NPCI) for handling all electronic payments in the banking system. NPCI has set up a new mandate process, which is called - National Automated Clearing House or … [Read more...] about What is NACH and How it’s impacting your LIC Policy?
You get 30 days grace period for each LIC Policy after policy payment due date. If you have LIC Credit Card, it'll pay your premium automatically five days before the grace period (25 days after due date). Then, LIC Credit Card gives you 45 days time for Credit Card payment. So, … [Read more...] about How to get upto 70 days grace period for LIC Premium Payment?
If you are not happy with LIC, you can complaint to LIC via: 1. Online 2. Offline In the offline mode, you can complaint about any issues you are facing, such as: 1. Premium Paid Statement / e-Receipt not received 2. Not able to make the premium online 3. Change of … [Read more...] about How to File Complaint about your LIC Policy?
If policyholder name is misspelled in the policy bond or policyholder has changed name due to one of the following reasons: 1. the Assured having changed his/her name and/or surname, 2. the Assured having been adopted (here generally the change is in the assured's second name … [Read more...] about How to Change Policyholder Name in LIC Policy?
Step 1: Once you have received the IRCTC Travel Insurance Policy via email or SMS. The next step is to update the Nomination details, this you can do on respective Insurance Company websites only. Things you need: IRCTC Transaction ID, PNR and Policy Number Nominee … [Read more...] about How to Claim under IRCTC Travel Insurance Policy?
You don’t need to do anything for this free Travel Accident Insurance (free travel accident insurance cover of up to Rs 10 lakh), it’s automatic. While booking a train ticket online via IRCTC, the option to choose travel insurance will be pre-select by default. After buying the … [Read more...] about How to get Free IRCTC Travel Accident Insurance Policy?
IDV or Insured Declared Value of the vehicle is calculated at the time of initial purchase as well as at policy renewal. IDV is considered as the vehicle sum insured and is fixed at the commencement of each policy period for each insured vehicle. What is IDV (Insured Declared … [Read more...] about What is IDV (Insured Declared Value) of Car/Bike or IDV Calculator?
Following withdrawal of legal tender character of old Rs. 500 and Rs. 1,000 denomination notes from November 9, government has put restrictions on cash withdrawals from banks and ATMs. People are facing cash crunch, so IRDAI has asked life insurance companies to provide an … [Read more...] about IRDAI – Policyholders get 30 days more to pay premium