How can I pay LIC premium from abroad?
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Premium can be paid at Cash Counter of LIC (International) branch office by cash (in local currency or USD) / by Cheque. Cheque should be drawn in favour of LIC (International) only. Premium amounts can also be transferred directly to bank account of LIC (International) in the respective country through Telex Transfer.
It can be made through a direct remittance from abroad through banking channels in an approved manner. The remittance should preferably be made through an Indian rupee draft drawn in favour of the insurance company. The remittance can also be made through postal channels like foreign money order.
Can I claim maturity of LIC policy in NRE account from India?
Yes. if you paid Early Premiums thru NRE Account from India, then Your claim/Majurity time You can request and submit the same NRE Account details. Amount may deposit in Indian Rupees only. If someone is staying outside India, how do you claim maturity of LIC policy to his account in India?
Can I transfer LIC policy to NRI account?
Policy holder’s/ claimants’ name under the policy should match with that of Bank A/c, else it is likely to be rejected. NRI accounts are guided by FEMA regulations; LIC has decided not to include NRI accounts for fund transfer. So policy holders / annuitants are requested not to submit their NRI account details.
NRIs can also pay premium in foreign currency through online transactions. In this case, the proceeds from the insurance policy can be repatriated and collected in foreign currency. The premium amount charged by LIC remains the same for both Indian residents and NRIs living in other countries.
How to revive your LIC insurance policy?
You can easily revive your LIC insurance policy by keeping in mind the factors listed below: Revival of policy can be done and initiated only if the policy has not exceeded a specific duration of time from the lapsation of the insurance policy. The period will be determined by the LIC, which is also dependent on the type of policy.