LIC Partners TBS For Premium Payment Facility

As part of its customer friendly initiatives, LIC has introduced one more channel viz. Tick Business Solutions or TBS for payment of life insurance premium. TBS is an e-commerce company with a wide network of franchisees spanning over eight Indian states including Andhra Pradesh, Karnataka and Kerala in the south.

Life Insurance Corporation of India (LIC) has now facilitated the payment of insurance premium through TBS at over 3,000 franchisee centres across eight states. This will add a new dimension of convenience for LIC policy holders residing in these states.

TBS’s partnership with LIC is significant as it adds another alternate channel for payment of premium. This new initiative is in addition to the convenience of payment of premium at any of the LIC branch offices/ satellite offices and also through the Internet using the net banking facility of select banks/ through arrangement with certain banks like Axis Bank/ through the ATMs of Corporation Bank or Axis Bank, besides Suvidha Infoserve, AP Online etc. Now a policyholder can just walk into any TBS franchisee centre or any other service provider in his neighbourhood and pay his premium. This is expected to vastly benefit the policyholders in rural areas too as TBS has its presence across urban and rural areas. ( www.moneycontrol.com)

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