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In a bid to boost digital transactions, Life Insurance Corporation of India (LIC) has waived off convenience fee on credit card transactions by policy holders for payment of renewal and advance premium, repayment of loan and loan interest.
“All digital collections will be free of charges for customers. With this initiative, LIC’s valued policyholders can transact online seamlessly, free of charges,” the life insurer said in a release on Monday.
The move came into effect from December 1.
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