You can avail upto 70 days time for paying your LIC Premium after your payment due date. It is possible with LIC Credit Card, that too automatically without spending even a minute for paying your policy premium. You need not to go for Branch office long queues or atleast online.
How you get around 70 days grace period..?
Normally you get 30 days grace period after your Policy payment due date. LIC Credit Card pays your premium automatically five days before the grace period (25 days after due date). LIC Credit Card Gives you 45 days time for payment. So, That means after your policy payment due date you can avail around 70 days time to pay your policy amount.
Steps to Enroll your Policy for Automatic Payment
If you are applying for LIC Cards mention your policy numbers to be paid in your application form while submitting. If you already have an LIC Credit Card call to 1800223033(toll free) and inform your Policy Numbers. It will take 7 working days to process your request. So try to inform as early as possible before ending your grace period.
After payment You will receive LIC Premium payment Receipt by post. For more information refer LIC Card Premium Payment information.