Home |Life Insurance | What is the late payment charge for an LIC premium for half yearly and quarterly?

What is the late payment charge for an LIC premium for half yearly and quarterly?

Answer Notify Me - 1 Notifying - 2
Shailesh Kumar, Co-founder, Insurance Samadhan verified
Answered on December 11,2023

You get 30 days grace period to pay your premium . After 30 days , if you pay within 30 days then LIC charge late fees of annualised 6% i.e.5% 

in same way if you pay within 60 days then you pay interest @ 7.5% , within 90 days then rate is 9% .

Hope this suffice 

Shailesh Kumar 

Insurance Samadhan 

How would you rate the answer?


Excellent Good Neutral Poor Bad

Thank you for your response..

Clap Clap 0
Share Share Answer Share Share
Views 27 views
tesz.in
Hey , can you help?
Answer this question

Related Questions