LIC goes on-line

Life Insurance Corporation of India (LIC) has launched its on-line premium payment facility. 

The Internet facility introduced by LIC would enable checking of one's policy status as well as online payment of one's insurance premium through the website
http://www.licindia.com.

The Internet payment facility set up by LIC, was largely developed in-house. The Internet payment of premium can be done through direct debit, should the LIC policy holder hold accounts in UTI Bank, Bank of Punjab, Corporation Bank, HDFC Bank or ICICI Bank. The policy holder could also pay using the payment mechanisms of ICICI's www.billjunction.com or the website
www.timesofmoney.com.

LIC had registered 64.98 percent business growth in 2000-2001, its best in the last 24 years. 

The Finance Minister also noted that the business was fairly equally divided between urban and rural India, with 48 per cent of the premium and 53 percent of the policies coming from the rural
areas.

(CNS)