I got this from LIC website -
Change Mode of Payment The mode or frequency of payment of premiums can be altered to higher or lower frequency during the term of the policy. Changes between Salary savings modes to direct payment modes are also allowed. This change is done in such a way as to coincide with the date of Policy anniversary or the corresponding Monthly, Quarterly or Monthly dates. As a rule, no alterations are entertained during the first policy anniversary.
Requirements- Requisition for change of Mode.