How do I write a maximum life insurance cheque?

The cheque should be in the name of “Max Life Insurance Corporation Limited” and at the back of the cheque, the name of the policy buyer along with the policy number and contact details should be mentioned.

Can life insurance premium be paid in cash?

Premium can be paid at the cash counter of any LIC Branch Office. Premium can be paid by CASH/CHEQUE/DD. Premium for ULIP policies can now be paid at any LIC Branch cash counter across the country.

What is the grace period in Max Life term plan?

If you fail to pay the premium on the due date, the grace period between 15 to 30 days will activate. It ensures that you do not end up with a lapsed life insurance policy immediately.

How can I check my maximum life policy status?

By Call. You can check the Max life policy details by calling the toll-free helpline number of the company at 18601205577 from Monday to Saturday between 09:00 AM to 06:00 PM.

How do I pay my Max Life premium?

The online premium payment facility is completely dependent on the performance of the server of the payment gateway service provider for net banking/cash card/ online wallet/ credit card/debit card transactions and the respective banks for all bank account transactions.

What are the options available for premium payment?

You can pay premiums either by Online Payment Modes, Various Auto-debit Option (NACH/Online SI on Credit Card/Direct debit), Over the Counter payment (Max Life branches/ Axis Bank / Yes Bank/ Laxmi Vilas) ,Payment over the EBIX counters, Common Service Center (CSC) or request for Cheque pickup.

How can I write LIC cheque?

The cheque/DD should be drawn favoring “LIC of India, Pol. No. xxxxxxxxx” on the face of the instrument. If a single cheque is used for payment of multiple policies, one policy number is to be written on the face of the cheque and others may be written on the back of the cheque.

Can I pay my life insurance with my credit card?

No life insurer will allow you to pay for your policy with cash, and few will let you pay for more than your initial premium with a credit card.

Can you get money back from a lapsed life insurance policy?

Can you get money back from a lapsed life insurance policy? If you stop paying your life insurance premiums and your policy lapses, you are not refunded any of the money you paid in premiums.

How do I withdraw money from my max life insurance policy?

d. In case of NEFT, a cancelled cheque with pre-printed name/copy of bank passbook with banker’s attestation/banker’s attestation on account details in surrender request. You may submit the surrender request with the above documents at nearby Max Life branch.

Is bonus from Max Life Insurance Taxable?

In all these cases, the money you or your nominee receive at the time when a life insurance policy matures or as a bonus is entirely exempt from income tax under Section 10(10D).