All Newsletters
- April 2016
- March 2016
- February 2016
- January 2016
- December 2015
- November 2015
- October 2015
- September 2015
- August 2015
- July 2015
- June 2015
- May 2015
- April 2015
- March 2015
- February 2015
- January 2015
- December 2014
- November 2014
- October 2014
- September 2014
- August 2014
- July 2014
- June 2014
- May 2014
- April 2014
- March 2014
- February 2014
- January 2014
- December 2013
- November 2013
- October 2013
- September 2013
- August 2013
- July 2013
- June 2013
- May 2013
- April 2013
- March 2013
- February 2013
- January 2013
- December 2012
- November 2012
- October 2012
- September 2012
- August 2012
- July 2012
- June 2012
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
eServe Newsletter January 2014
What is ECS?
Electronic Clearing Service (ECS) is a facility by which premium is deducted by bank at pre-decided date and remitted to LIC.
How does it benefit you?
ECS is an easy premium payment option which saves your time and effort and offers convenience. No queues, or wastage of time and less chances of policy lapsation. ECS is a free service to LIC policyholders and one time standing instructions in the form of a mandate is sufficient to pay the future premiums as and when they fall due. This facility can be availed of not only in respect of the policies of self but also on the policies effected on the lives of the close relatives like spouse and dependent children (i.e.) the relatives on whom policies the policyholder can claim I.T. relief for the payment of premiums.
How to avail ECS facility?
To avail of ECS facility, policy holder needs to submit a mandate form to LIC and also authorize the bank to deduct premium. Bank deducts premium on the basis of invoice received from LIC
