If a policy holder is paying the premium of the policy through net banking or phone banking then the benefits which he/she will get is that they get to decide the timing of payment with the facility available to them for 24 hours on all seven days of the week with anywhere anytime access to internet. This will help them to avoid queues for payment of premium. Policy holder can also get information regarding the over dues of the premium. Policy holder can choose from the bank account from which he /she intends to pay the premium from, policy holder should register the bank account with the service provider. The policy holder can get the alert and reminders by email from the bank and the service provider about the due premium.