We know that you are occupied in your work and daily routine, which makes it difficult to remember the due date of the premium and this might lead to non-payment towards your policy. Payment of the policy will have some repercussions such as late fees, penalty charges, and lapsation of the policy.
If the policy has lapsed, you will not be able to enjoy the benefits of the policy such as life cover, health cover, maturity benefits, market returns, tax benefits, and much more (Depends upon policy to policy).
Reviving your policy is a monotonous process which sometimes involves medical checkups and a lengthy revival form which can be time-consuming and you may not be able to avail any benefits during that given period.
Don’t worry, we have come up with a hassle-free solution which is ECS or Auto Debit.
What is ECS?
"Electronic Clearing Service” is a safe, reliable, and convenient payment option that automatically debits your premium amount from your bank account before or on the due date on a scheduled basis ensuring you never miss a premium payment..
Benefits of ECS:
No need to remember your premium due dates
Ensures that your policy does not lapse due to non-payment
ECS is a safe, secure, and automated process
You can opt for Auto debit from various options which are mentioned below: -
