• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Chennai , July 16

LIFE Insurance Corporation today announced that it has introduced the facility of paying the premium through the Electronic Clearance Service for its policyholders in Chennai.

The facility, which takes effect on July 17, would allow policyholders' premiums to be automatically deducted from their bank balances.

To use the scheme, policyholders would have to get a mandate form from any LIC branch office, and submit details on the premium amount, due date of the same and attendant details to LIC.

LIC, and a bank appointed by it as a nodal agency, would subsequently debit the premium amount from policyholders' bank balances when the due date comes around.

Chennai is the second city where LIC has introduced the ECS facility. Earlier, LIC had introduced the same in Mumbai.

More Stories on : Life Insurance | E-Commerce & E-Business | Tamil Nadu

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Plea to scrap pension scheme contract to ADB

Copyright © 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line