Does LIC allow using credit cards for monthly payments?

[statusquo]

I've made annual payments using LIC in the past. However, the points I get is capped because the premium amount is more than Rs 2 lakh. This time, for a new policy, I'm thinking of signing up for monthly premiums so as to get more points on my credit card. So, I'm trying to figure out if LIC allows using credit cards for monthly payments also, or does it only allow pre-authorized bank transfers?

 

[Chethan_br]

Only auto debit mode works in monthly mode.. You will have option of paying through CC only in quarterly, half-yearly and annually..

 

[statusquo]

Thanks! Is the above true for LIC only or even for things like TataAIA ULIPs?

 

[Chethan_br]

Thanks! Is the above true for LIC only or even for things like TataAIA ULIPs?

Can't confirm 100%.. I have icici pru insurance monthly mode and it's auto debited.. May be true for others as well.. Also you can take your chances of paying the bill well before the auto debit date so that bill is updated and auto debit won't take place.. I have tried it a couple of times.. It worked.. But can't guarantee..