Cancel/deregister E-mandate of LIC?

[KingAAR]

Anyone have any idea regarding cancellation of mandate as I want to convert it to quarterly plan?
I already mailed to branch office, but there is no response even after 20 days.
and share your experience if someone has done it

 

[RaviAgl]

Generally, it is upto the person to whom you have issued the emandate to cancel it.

Nowadays, I have heard that you can reach out to your bank and place a request regarding emandate cancellation if the other party is not listening to you.

Have you checked with your bank yet?

Thanks!!

 

[KingAAR]

i canceled from my side in bank portal. but it isn’t updated yet in lic
and the due date is coming and it doesn’t accept online payments
it shows no due on cred/apay/paytm etc

 

[RaviAgl]

i canceled from my side in bank portal. but it isn’t updated yet in lic
and the due date is coming and it doesn’t accept online payments
it shows no due on cred/apay/paytm etc

Then you may need to approach any lic office or agent to make your premium payment. Don't wait till the last date.

And bank won't honour LIC mandate even if they present it and you will not be at fault too. Consider it similar to STOP PAYMENT of cheque.

Just make sure that you pay that lic premium in a timely manner using any other mode of payment.

 

[KingAAR]

Then you may need to approach any lic office or agent to make your premium payment. Don't wait till the last date.

And bank won't honour LIC mandate even if they present it and you will not be at fault too. Consider it similar to STOP PAYMENT of cheque.

Just make sure that you pay that lic premium in a timely manner using any other mode of payment.

the only option is agent, the I mailed the branch office some 20 days ago, no response yet

 

[RaviAgl]

the only option is agent, the I mailed the branch office some 20 days ago, no response yet

There are deposit counters in LIC offices similar to banks.

You can pay your premium using cash / cheque/ other modes in any branch of India. Just need to mention your policy number and name of policy holder.

They will accept.

 

[KingAAR]

There are deposit counters in LIC offices similar to banks.

You can pay your premium using cash / cheque/ other modes in any branch of India. Just need to mention your policy number and name of policy holder.

They will accept.

thnx for the Info dude,

 

[RaviAgl]

thnx for the Info dude,

Cheers!!