LIC fixed deposit scheme for senior citizens is a unique term deposit policy tailored to provide individuals aged 60 and above with a financial safety net.
The Life Insurance Corporation (International), a subsidiary of LIC India, is an excellent provider if you are seeking to fulfil your life insurance requirements with good coverage at affordable prices.
Taking note of the requirements of different types of customers, LIC International, has also simplified the premium payments for its life insurance policies. As a customer, you won’t have to physically visit any of the LIC International branch offices to pay the premium – the LIC online payment facility can help you complete the process online and save time and effort.
Let’s go through the process of making LIC premium payments online and all the related details so that we can also have answers to the query of how to make LIC policy payment online.
For all the Gulf countries it operates in (Oman, Bahrain, Kuwait, and the UAE), LIC International has the provision of allowing online payments through Telex Transfer. In this method, you can transfer the entire amount directly to LIC International bank account.
If you are making the LIC premium payment online as the policyholder, your policy number, the Purpose of Remittance, and mobile number must be mentioned in the transfer advice. This same transfer advice has to be scanned and emailed to the LIC International branch office from where the policy was purchased.
Keep in mind that LIC International requires this fund transfer receipt in email to track and adjust the remittance towards the particular policy. The fund transfer receipt can be sent on WhatsApp at 00971-505498401 in addition to the policy number and registered mobile number or mailed to email@example.com
Note: As a policyholder, you must ensure that the entire premium amount is credited to the LIC International account and not a part of it – the company has no provisions for accepting premium payments in instalments.
In the UAE, you can make your LIC premium payment online either in the US Dollar (USD) or the United Arab Emirates Dirham (AED). LIC International follows a conversion rate of 3.68 AED for 1 USD – policyholders must keep this in mind while transferring the amount.
The two bank accounts for USD and AED payments are registered under the name of life insurance Corporation (International) in the Emirates National Bank of Dubai (NBD).
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Amidst all the technological advancements and digitisation, banking and insurance have become highly convenient for us. LIC International, a renowned name in the insurance industry in the UAE, has also incorporated such advancements to facilitate online premium payments.
With these services, you can now easily make all types of LIC online payments. You can now complete LIC premium payment online without visiting an LIC International office and waiting in long queues. So if you are an LIC International customer, you can pay the premiums online to keep your policy active and enjoy the complete benefits of your life insurance policy.