Life Insurance Corporation of India [LIC]

Life Insurance Corporation of India [LIC] — Premium payment and policy renewal online

venh

Address:	400708
Website:	www.licindia.in

I am an lic policy holder. I am liable to pay a quarterly premium. I pay it online. But for the last 3 quarters, i completely forgot about it. Last week, i remembered it and tried to do it online. When i gave all the details in the site and clicked to pay, i got an error saying i cannot make the payment online for that policy. I was shocked and reached out to the customer care. I came to know that my policy has lapsed and hence i was not able to pay online. I was also told that i need to visit one of the main branches itself (Not even a satellite branch) to do this whole procedure. This is very painful. This is very bad and disappointing. Any web site will let you make payments online, though with a fine. Lic is least consumer friendly and least co-operative. This is causing unnecessary inconvenience for the customer. Please act on this as soon as possible and help me activate my policy online and continue with my online premium payments.

Was this information helpful?

No (0)

Yes (0)

Life Insurance Corporation of India [LIC] customer support has been notified about the posted complaint.

Sep 21, 2016

Updated by venh It is not at all acceptable to lapse a policy, if a customer misses payments for just 3 quarters. Also, LIC must send reminders for payments via SMS and email. Almost every other company is doing this. It is disappointing to note that, LIC is still not following this. It is high time, such common things are implemented.