LIC waives fee on credit card transactions

Hyderabad: As a fillip to its ongoing support for digital transactions, Life Insurance Corporation of India announced waiver of convenience fee on credit card transactions initiated by policy holders for payment of renewal premium, advance premium, repayment of loan and loan interest with effect from Sunday.

The insurer said that henceforth, all digital collections will be free of charges for customers.

With this initiative, LIC's valued policyholders can transact online seamlessly, free of charges.

This facility of free transactions using credit card shall be applicable to and implemented across all collecting systems (card less payment and card dip / swipe on point of sale machines).

LIC customers are also requested to download the MYLIC App and avail seamless online services.