I have had a life policy for about two years now. About a year ago, I got posted out of my home station. Since then, my premium payments have been invariably late. Is there another way of paying the premium?
Ram Kiran Sahu, Bhopal
Nowadays, almost all life insurance companies provide payment facilities at their branches across the country. Check if your insurer has a branch in your city. If he doesn’t, he may have a bank as a channel partner for receipt of premium; you can pay the premium at the bank’s branch. You could also pay online, through the insurance company’s website using your credit card. If none of these options seems feasible, you should avail the services of your agent. You can post the agent a cheque duly crossed in favour of your insurer. Be sure to attach with the cheque the particulars of your policy. The agent will deposit the premium and send you the receipt. He will do this as part of the service he is expected to provide at no extra charge.
