The Life Insurance Corporation of India (LIC) has tied up with Corporation Bank to enable the bank’s debit card holders pay the LIC policy premium using a mobile phone. Corporation Bank has been offering the LIC premium payment facility through ATMs and net banking since 2003.
Corporation Bank customers wishing to avail the new facility can register their mobile phone numbers through the bank’s ATMs.
It would be quite convenient for those not wanting to make the trip to LIC’s offices. However, personally, I would favour the netbanking method over this one.
How do you pay your insurance premium?