Premium Payment Procedure

Do I need to be a registered customer?
No, you can pay premium without getting registered, known as bullet payment method.
 

I am a registered customer on your portal, how can I pay premium online?
Once you log-in on Mypolicy portal, under Transaction menu, option of ‘Pay Premium Online’ is given. All your enrolled policies are listed there. You may select the policy for which you wish to pay.
 

How can I pay Premium online?
Please click ‘Pay Premium Online’ tab. You will be diverted to a screen where you need to give Policy no and the date of birth. Mobile no is optional. If the policy no and the date of birth is matching with our database, you will be allowed to proceed further for payment. In case they are not matched, please check policy no or date of birth entered.
 

Is credit card accepted for payment?
Yes, the payment can be made through Visa, Master, Diners & American Express Cards.
I am a netbanking customer, can I pay through Online?
Yes, the payment can be made through netbanking, provided you are a netbanking customer of the bank listed in the site.
 

Can I pay premium for my lapse policy?
No
 

Can I make the payment in advance?
Payment can be made 30 days in advance for non –monthly frequencies and 10 days in advance for monthly frequency.
 

When units will be allocated for my ULIP policy?
Units allocation depends on the time and date of transaction and also on the premium due date. If payment is made before 3.00 pm on a business working day, the units will be allocated at the closing NAV declared for the day. If it is done after 3.00 pm, then the closing NAV of the next business working day is applicable provided the premium has fallen due on that day. If the premium is paid in advance, then units will be allocated on the due date of premium.
 

Can I get receipt immediately for the payment made?
We have provided for an online acknowledgement receipt for the successful transaction, which can be printed and preserved for future reference.
 

When I will get final receipt from the Company?
In case of Non-ULIP Policies, it will be dispatched to you after three working days. In case of ULIP policies, the receipt will be dispatched after three days from the date of allocation of premium.
 

Is any extra charge is payable to avail this service?
No, it is absolutely free for you.
 

Can I pay premium for the policies in the name of my family members?
You can pay premium online for the policies on the life of yourself, spouse and your children.