But you can use ECS or LIC Nomura MF premium payment option -

LIC has now come up with an arrangement with LIC Nomura MF to direct transfer of premiums from LICMF Savings Plus Fund, which is a debt fund and provides 6-7 % p.a. returns to the investors. The policyholder has to provide details of his/her policies in prescribed format and LICMF will transfer the said premiums on the due date to LIC. This facility is similar to ECS, where in the policy holder has to maintain balance in his bank a/c.