LIC / Postal Premium Payments Extension of March and April, 2020

LIC / Postal Premium Payments Extension of March and April, 2020 : Indian Life Insurance Company (LIC) Relief for policyholders. PLI Premium Online Payment official link and LIC Premium Online Payment official link here. LIC extended the grace period for premium payments in March and April,2020. This term extension applicable to all types of insurance policies. India Post Premium extended premium payment due date of March, April and May till June 30.

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LIC / Postal Premium Payments Extension of March and April, 2020

LIC / Postal Premium Payments Extension of March and April, 2020

Life Insurance Company (LIC)decision below

1. LIC’s decision comes as policymakers face difficulties with premium payments due to lockdown conditions across the country.
2. It also allowed the February month premium to be paid by April 15th.
3. LIC said policyholders can also make premium payments online and there will be no service charge.
4. UPI-based apps have revealed the convenience of debit and credit cards.
5. Also claims to make premium payments through LIC Pay Direct in LIC App.

LIC policy for Kovid-19

1. The deaths of Kovid-19 will also be compensated under current and new policies, the LIC said.
2. It also claims that these claims are being compensated on an instant basis.
3. It claims to have processed 16 claims so far.

LIC 5 Insurance Schemes

LIC said 5 insurance schemes have also been made available for purchase online at home during the lockdown.

LIC policies are:

LIC Tech Term, Jeevan Saathi Annuity Plan, Cancer Cover, SIP, Nivesh Plus.

India Post Premium extended premium payment

1. LIC Model India posts also give policy makers flexibility in premium payment.
2. Postal Life Insurance and Rural Postal Life Insurance policies have extended the premium due date of March, April and May till June 30.
3. The three-month premium can be paid up to June 30 without the need to pay any late fees / penalties, India Post said in a statement.

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