LIC Policy Premium for 1 year (12 months) is Rs. Insurance is the subject matter of solicitation.Visitors are hereby informed that their information submitted on the website may be shared with insurers. When you receive your policy bond or document, the months in which the premiums are due are specifically mentioned. Online payment: It is the very recent updated facility to all the account holders, and it gives the clyster clear it gives more satisfaction and hopes for their investments to the Life Insurance policy. However, the regular premium payment policy as well comes in the variant of limited payment. 4,000 Tracking Policy status is significant because it helps a policy holder to know next premium due information, accumulated bonus, claim status, loan status, revival quote etc. The premium due date, total amount due (with GST and late fee, if any) will be fetched from the LIC customer portal and displayed on the screen. Revival Date : 29/02/2016 Premiums not paid since : 12/11/2015 No of Installment Due : 1 Unpaid Installment Premium : 4,000 Total Premium Due Amount : 4,000. To revive a lapsed policy you not only have to pay some extra fees as a penalty but also go through the entire process of policy renewal. As per regular premium payment policy, which is other than the annual premium payment, the insurance provider can allow the shorter installments of half-yearly, quarterly, or even monthly payments. Grace period. LIC raises the premium notices 30 days before the premium becomes due and provides a grace period of 30 days for the policyholder from the due date to make the premium payments. ... "For Life Insurance Policies whose premium fall due in MARCH and APRIL 2020, ... Life Insurance Corporation of India – Corporate Office : Yogakshema Building, Jeevan Bima Marg, P.O. A LIC Policy holder can check his/her policy status and keep track of the policy progress online. Box No – 19953, Mumbai – 400 021 IRDAI Reg No- 512. Information required to use ‘LIC Policy Revival Quotation and Late Fee Calculator.’ Revival Date: Date on which you would like to revive the policy. If no debit date is opted for, the default debit date will be premium due date. Sign up our newsletter and get email about term plans. Life Insurance Corporation (LIC) announced an extension of 30 days for payment of premiums due in March and April. The renewal date of a policy is exactly one year after the previous year’s premium payment date. The grace period for LIC insurance policies where the premium payment is monthly is fifteen days from the due date of premium payment. The grace period for policies where the premium payment mode is monthly is 15 days from the due date. What is the Grace Period of LIC Premium Payments? *The information provided on this website/page is only for information sake. Product information is authentic and solely based on the information received from the Insurer© Copyright 2008-2021 policybazaar.com. Grace Period For LIC Premium Payment. IRDAI/WBA21/15 Valid till 13/07/2021. When the premium payment mode is monthly, then the grace period for LIC premium payment is 30 days. With the exception of some plans, In case you have not paid LIC premium within the scheduled due date, LIC grants you a relaxation time frame to make payments without the payment of interest on the premium. Coronavirus pandemic | LIC gives 30-days extension for premiums due in March, April LIC's policyholders can pay premiums through LIC's digital payment options without any service charge. For a monthly premium payment mode, it is 15 days, whereas, for a yearly, half-yearly, or quarterly premium payment mode, it is 30 days. Date of Birth: The DOB must be in DD/MM/YYYY format. This period is called the Grace Period. 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