You have to visit the LIC Office with an aplication to change the mode and photocopy and original policy document.Originally Posted by Romeo
Yes you get rebate. Check article here -I also heard that a rebate will be given when we pay half-yearly or yearly. Is it the same for quarterly too?
http://www.policywala.com/content.ph...urance-Premium
Premiums, other than single premiums, can be paid by the policyholders to LIC in yearly, half-yearly, quarterly or monthly installments or through a Salary Savings Scheme. If the mode of payment is yearly or half-yearly, LIC gives a rebate of 3% and 1.5% respectively on the premium. If the mode of payment is monthly, LIC charges an additional 5% (this additional charge is waived for the Salary Saving Scheme).
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