PolicyTray

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Change the premium payment mode of LIC policy

To change the premium payment mode of a LIC policy, you shall write a letter to the Manager of the LIC Branch where you have taken your policy. Currently, it is NOT possible to change your policy premium payment mode ONLINE.
You shall either post the letter along with your identity proof, addressing to the Branch manager or you shall submit these documents to the LIC Branch office in person.
Attached below a sample template letter in which you shall edit your policy number, Your name and your address accordingly.


LIC_Premium_Mode_Change.docx (11.9KB)


Comments (46) -

  • Jeewan

    7/21/2019 3:43:17 PM | Reply

    Thanks for guiding and inform me regarding this.

  • Saran

    10/4/2019 12:28:16 PM | Reply

    hi

    can i change my premium payment mode in the middle of the month??

    • PolicyTray

      10/4/2019 6:11:21 PM | Reply

      Hi,
      You shall change the premium payment mode at the end of 1 complete cycle. Consider, you are currently paying in monthly mode and you would like to change it into yearly payment mode. In this case,you will be able to change the payment mode only after the completion of 12 months or 24 months or any multiples of 12 months.

  • Naveen

    10/4/2019 1:16:48 PM | Reply

    hi saran

    yes,you can change your premium payment mode at any time  

    thank you

  • Balakrishna

    10/5/2019 1:23:02 PM | Reply

    Hi,
        How can i change my premium payment mode in online?

    • Jessy Immanuel

      10/5/2019 1:31:58 PM | Reply

      Currently,it is not possible to change your payment mode in online
      write a letter to your  branch manager.they can help you with this.

  • Shiny

    10/9/2019 11:34:01 AM | Reply

    Sir,
    I wrote a formal letter to manager regarding the change of payment mode in last month
    but as of now no steps have been taken from the  branch side.
    reply ASAP  

    • Deepak

      10/9/2019 2:30:26 PM | Reply

      Hi,
      You shall contact the nearby branch for further details they will guide regarding this.

  • Sundar

    10/11/2019 2:30:18 PM | Reply

    Hi,
    Can I change my premium payment mode in online?

    • Angelina

      10/11/2019 5:35:56 PM | Reply

      Hi,
         No sir, currently it is not possible to change the premium payment mode in online

      Thank  You

  • Hussain

    10/12/2019 11:33:16 AM | Reply

    suggest me some other ways to change the premium payment mode other than reaching the branch office.

    • Rohit Ragav

      10/12/2019 5:21:07 PM | Reply

      Hi Rohit,
                  First of all you cannot change the premium payment mode in online you can only change the premium mode by reaching the branch else write a formal letter to the manager for more details.

      Thank You

    • Shiv kumar

      5/7/2021 9:46:56 PM | Reply

      I had already submitted an application for change the payment premium mode due to retirement monthly to quarterly in the month of February 2021 ,but no any action taken by 28F Renukpot Sonebhadta u.p.brach office

  • Madhan Kumar

    10/14/2019 12:01:19 PM | Reply

    what is the interval of time period needed to change the premium payment mode??

    • Franchis

      10/14/2019 5:53:24 PM | Reply

      Hi,

      You change the premium payment mode in the interval of 12months or in any multiples of 12

      Thank You

  • Mayank Agarwal

    10/15/2019 5:39:14 PM | Reply

    My policy number is 78937493439 kindly help me to change the premium payment mode

    • Sakthivel

      10/16/2019 1:47:12 PM | Reply

      Hi,
          
                  You can change the premium only for every 12 months or in any multiples of 12 and you can change it by wrting a formal letter to the branch manager.

      Thank You

  • Srinivasan

    10/17/2019 3:12:05 PM | Reply

    Hi,
       Is it possible to switch between two payment modes?and also suggest me which is good to make payments.

    • Parveen

      10/18/2019 12:04:27 PM | Reply

      Hi,

         NO sir,you cam make payments by only one method and you can change the payment mode for every 12months

      Thank You

  • Bindhu

    10/19/2019 2:19:49 PM | Reply

    My policy ECS fails for this month.can I change the payment mode and make the payment?

    • Saravana Vel

      10/21/2019 3:33:35 PM | Reply

      Hi,

         You can make the pending payments by cash to the nearby branch

      Thank You

  • Siddarth

    10/22/2019 2:30:32 PM | Reply

    Can I change the premium payment mode  for next month? because my ECS was failed for the past 4 months

    • Benny dhayal

      10/22/2019 4:45:29 PM | Reply

      Hi Siddarth,

                       You can only change the premium mode for every 12months as of now you can make the pending payments and continue with ECS mode

      Thank You

  • Raju

    10/24/2019 11:18:56 AM | Reply

    Can I stop paying my policy premium through ECS because of some issues in my bank account?

    • Varun krishnan

      10/24/2019 4:21:44 PM | Reply

      Hi Raju,

      You cannot stop making payments.you can only  change the premium payment mode other than ECS

      Thank You

  • Mohammed nagoor

    10/31/2019 4:22:55 PM | Reply

    Sir,Iam making payments through Ecs till last month and also planning close my bank account link to policy so can I change the payment mode for this month
    policy number is 7956858678053

  • Meera

    11/2/2019 6:19:14 PM | Reply

    I applied for change of payment mode last month, as of now no steps had been taken from their side
    help me

    • Gowtham

      11/5/2019 11:29:10 AM | Reply

      Hi mam,
               You can write the formal letter to the branch manager regarding this issue they will help you further.

      Thank You

  • Richard Fernandes

    5/19/2020 6:58:06 PM | Reply

    Hello Sir,

    My sister has a The Money Back Policy - 20 Years (Plan-75) and it was on  ECS. The ECS never works and I have to always pay 3 months together at the centre. Due to Covid 19 situation the offices are shut. I was able to pay thru paytm for the Jeevan policies however this policy gives me following error

    On Lic Portal - Check and Pay option is greyed out and it says that the option isnt available for online payment as we have selected ECS or NACH Method.
    On Paytm- It says this policy is not due for payment
    On direct pay- it says phone number not valid.

    Please suggest what should be done.

    Regards,
    Richard Fernande

  • misty

    10/1/2020 4:45:00 PM | Reply

    sir  if i want to change LIC premium mode & stop  ECS. then where  can i send mail.( proper email address), can  i change it any time of the year.  Because i paid monthly.
    thanks

  • DINKAR KUCHE

    1/7/2021 10:43:58 AM | Reply

    Sir, premium paid of policy no 908936231 by company on momthly  now Iwant to pay online. what can I do change the mode pf payment .

  • rishab kumar

    6/21/2021 3:40:58 PM | Reply

    can I change premium payment mode from yearly to monthly?

  • rishab kumar

    6/21/2021 3:42:00 PM | Reply

    Can I change premium payment mode from yearly to monthly?

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