LIC extends premium payment deadline to April 15 amid lockdown

Life Insurance Corporation of India (LIC), the country’s largest insurance company, has decided to extend the premium payment date to April 15.

This comes to ease pressure on policyholders amid the coronavirus pandemic.

“In view of prevailing extraordinary circumstances in the country on account of Covid-19, LIC will give relaxation to its policyholders in payment of premiums due on inforce policies up to 15 April, 2020, wherever customers are unable to deposit online or otherwise,” the state-run insurer said in a statement.

“There is an appeal to all policyholders to stay indoors and not come to the office to pay the premium.”

“In view of the risk of coronavirus, the date of payment of premium for LIC’s current policies has been extended till 15 April 2020. You can pay your premiums online,” LIC Managing Director Vipin Anand said.

LIC’s announcement comes as a lockdown has been enforced by most state governments. Delhi, Mumbai, Bengaluru and Chennai are among the cities which have imposed the lockdown.

Services of passenger trains, buses and metros have been suspended across the country. Schools, colleges, malls and gyms have been closed and all major exams have been postponed.