LIC policy premium can be paid after ECS dishonouring also. Once the ECS gets dishonored, the policyholder comes to know immediately from his bank. The LIC system gets updated after a day or as soon as the bank sends a message.
For example, the date of LIC policy deduction is the 7th of every month; as soon as the payment is not deducted, the policyholder or account holder gets a message from the bank.
LIC Office Server may take 2 to three days to get updated. Once the LIC server is updated, then by cash only the dishonoured/bounced premium payment can be done.
Some LIC ECS services online:
For a new LIC Life insurance or health insurance policy,
any Mutual funds call: 9886568000
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