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

 

[RaviAglRaviAgl is verified member.]

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

 

[RaviAglRaviAgl is verified member.]

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

 

[RaviAglRaviAgl is verified member.]

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,

 

[RaviAglRaviAgl is verified member.]

thnx for the Info dude,

Cheers!!

 

[HarshKr]

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

Hey man, did you find any resolution for this? I didn't find any option for this on the LIC portal. I've raised a grievance complain asking them to cancel the E-Mandate from my LIC account and got a ticket assigned to it. I want to make payments via credit card and hence want to cancel the the ECS/ NACH E-mandate completely. My payment is due in 17 days. Let's see what response I get from them. My last option will be to cancel the E-mandate from my net banking of the concerned bank. Please let me know if something worked for you. @KingAAR

 

[rajcasio]

Hey man, did you find any resolution for this? I didn't find any option for this on the LIC portal. I've raised a grievance complain asking them to cancel the E-Mandate from my LIC account and got a ticket assigned to it. I want to make payments via credit card and hence want to cancel the the ECS/ NACH E-mandate completely. My payment is due in 17 days. Let's see what response I get from them. My last option will be to cancel the E-mandate from my net banking of the concerned bank. Please let me know if something worked for you. @KingAAR

A personal visit to the BRANCH that issued you the insurance will resolve the issue instantly. My own experience.

 

[KingAAR]

Hey man, did you find any resolution for this? I didn't find any option for this on the LIC portal. I've raised a grievance complain asking them to cancel the E-Mandate from my LIC account and got a ticket assigned to it. I want to make payments via credit card and hence want to cancel the the ECS/ NACH E-mandate completely. My payment is due in 17 days. Let's see what response I get from them. My last option will be to cancel the E-mandate from my net banking of the concerned bank. Please let me know if something worked for you. @KingAAR

yes, the usual procedure is you should the cancellation with id proof by post to the head office or so, but it is better if you get it done thru agent