FAQs

Life Insurance

23 Jan 2003

fjrigjwwe9r3SDFAQs:FAQCont

The manner of payment of premiums under the policy is:

  • For Rupee Policies on NRI's.
  • By direct remittance from abroad through Banking Channels in approved manner (preferably by Indian Rupee drafts drawn in favour of LIC of India) or by remittances through postal channels like Foreign Money Order.
  • By payment out of funds held in Non-Resident (External) Account or Foreign Currency (Non- Resident) Account with a Bank in India.
  • By cheques drawn by Non- resident policy holder on Bank Accounts held in India in his own name (either solely or jointly with another member of the family) whether or not the account has been designated as non-resident.
  • By cheque drawn on account maintained by resident parent or spouse of policy holder in their own name or joint names with other close relatives.
  • By the absolute Assignee in India wherever such policies have been absolutely assigned to a resident in India.
  • By the employers in respect of policies issued to their employees who have been deputed abroad by them.
  • Premiums can be paid in cash by a resident parent or spouse of the non-resident policyholder subject to his / her submitting a letter stating the relationship with the policyholder.
  • Premiums due on policies issued to Indian students who have gone abroad for higher studies may be collected in Rupees out of the Resident Bank Account in India or any of their representatives in India by cash or cheques.

Note:

In respect of premiums collected in cash from sources mentioned in the last five instances, it should be noted that the policy moneys cannot be paid abroad in foreign exchange but has to be paid in India only.

For policies held on foreign register of LIC:

Premiums on foreign currency / Rupee policies issued by overseas of LIC and held on their foreign register should be collected only in foreign currency.

BACK

Hornmerchant LLP (LLP ID: ABZ-4599)
Registered Office: Flat No. 213, Akshaya’s Sai Lake View, 60 Feet Road, D-Group Layout, Gidadakonehalli, Bangalore-560091.
Operational Office: No.2 (Plot No. 23/21), 1st Floor, 6th Main / 60 Feet Road, D-Group Layout, Srigandhadakavalu, Bangalore – 560091.
AMFI Registered Mutual Fund Distributor | ARN – 266793 | Date of First Reg: 27-03-2023; Current Validity: 26-03-2029
AMFI Registered SIF distributor | ARN – 266793 | Date of First Reg: 19-12-2025; Current Validity: 18-12-2028
Limited Membership with NSE (Member ID - MS266793) and BSE (Member ID: 5790503)

Sangeeta Kodashettar
Registered Office: 107, RHCS Layout, 2nd Stage, C-Block, 2nd Main, 7th Cross, D-Group Layout, Srigandhadakavalu, Bangalore – 560091.
AMFI Registered Mutual Fund Distributor | ARN – 85236 | Date of First Reg: 03-03-2012; Current Validity: 02-03-2027
Limited Membership with NSE (Member ID: MFS85236) and BSE (Member ID: 10199)

Technology Software (CRM, Web & Mobile App) Service Provider: Adapt Fintech Advisors Private Limited

Hornmerchant LLP may associate with other MFDs, National Distributors, Insurance Agents and other Financial Services Intermediaries to distribute their products & services.

Investment in Mutual Funds and Other Securities markets instruments are subject to market risks, read all the related documents carefully before investing. Insurance is a subject matter of solicitation. Past performance is not indicative of future returns. Please consider your specific investment requirements before choosing a fund, or constructing a portfolio that suits your needs. Hornmerchant LLP is acting as distributor and/or associate of distributors / agents. Information provided on the blogs is educational only and is not investment or tax advice. They accept no liability for any damages or losses, however caused, in connection with the use of, or on the reliance of its product or related services. Terms and conditions of the website are applicable. Privacy policy of the website applicable. All disputes with respect to the distribution activity, would not have access to the Exchange Investor Redressal Forum or Arbitration mechanism.

Mutual Funds' Brokerage will not exceed the SEBI prescribed limit and Insurance Commission will not exceed the limits specified by IRDAI. See the following pages for other legal & compliance related information.

Mutual Funds

SIP Investment

Information

Disclosures

Follow Us

Follow us on our social media channels:

Copyright © 2026 Design and developed by Fintso. All Rights Reserved