Need A Financial Product Forums Insurance Can I pay LIC Insurance premium through ECS?

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    What is ECS? Can I pay Insurance premium through ECS



    ECS is the Electronic Clearance Service of LIC in which funds are transferred and moved from one bank account to the other. You can use it for debit and a credit works online. This policy or scheme is used by people who need to do any salary, interest or pension transfers. The charges of using an ECS is nil and if you want to discontinue ECS service all you need to do is ask the bank who acts as the mode of payment or payment channel to issue a written application that you want to discontinue and the beneficiary needs to give a written note as well stating its closure.

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