Life Insurance Corporation of India (LIC) is one of the largest and most trusted insurance providers in the country. With a wide range of insurance products and services, LIC has been serving the needs of millions of policyholders for decades. To make the process of premium payments more convenient and hassle-free, LIC has introduced the option of e-NACH mandate registration.

What is e-NACH Mandate Registration?

e-NACH (Electronic National Automated Clearing House) mandate registration is a facility that allows policyholders to authorize LIC to automatically deduct premium payments from their bank accounts on a specified date. This eliminates the need for manual payments and ensures that policyholders do not miss any premium due dates.

By opting for e-NACH mandate registration, LIC policyholders can enjoy the following benefits:

1. Convenience:

With e-NACH, policyholders no longer need to remember and manually initiate premium payments. Once the mandate is set up, the premium amount will be automatically deducted from the registered bank account on the chosen date.

2. Timely Payments:

Automatic deductions through e-NACH ensure that premium payments are made on time, reducing the risk of policy lapses or penalties. This helps policyholders maintain the continuity of their insurance coverage.

3. Cost Savings:

By eliminating the need for physical payments or visits to LIC branches, e-NACH mandate registration saves policyholders time and money. It also reduces the chances of errors or delays in payment processing.

4. Secure and Reliable:

e-NACH transactions are processed through a secure and reliable electronic system, ensuring the safety of policyholders’ financial information. The automated process also reduces the risk of payment errors or fraud.

How to Register for e-NACH Mandate with LIC

The process of registering for e-NACH mandate with LIC is simple and can be done online. Here are the steps to follow:

Step 1: Visit the LIC Official Website

Go to the official website of LIC (www.licindia.in) and navigate to the e-Services section. Look for the option to register for e-NACH mandate.

Step 2: Provide Policy Details

Enter your policy number, date of birth, and other required details to verify your policy. Make sure to have your policy documents handy for reference.

Step 3: Select Bank Account

Choose the bank account from which you want the premium payments to be deducted. Ensure that the account is linked to your policy and has sufficient funds.

Step 4: Set Mandate Details

Specify the premium amount, frequency of deductions (monthly, quarterly, half-yearly, or annually), and the preferred date for deduction. Review the mandate details carefully before proceeding.

Step 5: Provide Consent

Read and accept the terms and conditions of the e-NACH mandate. Provide your consent for LIC to initiate automatic deductions from your bank account.

Step 6: Authenticate and Submit

Authenticate your registration through an OTP (One-Time Password) sent to your registered mobile number. Enter the OTP and submit your e-NACH mandate registration request.

Step 7: Confirmation

Once your e-NACH mandate registration is successfully processed, you will receive a confirmation message or email from LIC. You can also check the status of your mandate through the LIC e-Services portal.

It is important to note that e-NACH mandate registration may take a few days to be activated. Until then, policyholders should ensure that they make manual premium payments to avoid any policy disruptions.

Conclusion

e-NACH mandate registration for LIC offers policyholders a convenient and secure way to make premium payments. By automating the process, it reduces the chances of missed payments and ensures timely coverage. With the easy online registration process, policyholders can enjoy the benefits of e-NACH and have peace of mind knowing that their insurance premiums are taken care of automatically.

IMPORTANT LINK
E-NACH Mandate Registration	Click Here
E-NACH Mandate Registration – Video	Click Here
Official Webiste	Click Here
Other Govt. Services	Click Here