- Exide Life Insurance policyholders can pay insurance premium with ICICI Bank debit card
- Pay premiums with Debit Card + OTP, or Debit Card + ATM PIN options
One of the essential duties of a policyholder is to pay insurance premium within the stipulated time to enjoy coverage and policy benefits. Being a long-term product, life insurance requires payment of premiums at distinct intervals as chosen by the policyholder.
While earlier, insurance premium payment was mostly paid by cheque or cash, today a myriad of options are available to policyholders. In the digital era, one can set up an ECS mandate with the bank or use a credit card, debit card, net banking and e-wallets to pay the premium amount. As an Exide Life Insurance policyholder, you can pay premiums of your policy online through all of these options.
Paying premium through debit card can be a convenient option for many. Debit Cards of almost all major banks can be used to make the payment for your Exide Life Insurance policy. Let us take the example of paying premium through ICICI Bank debit card. Read on to know the way of doing so.
Premium payment through ICICI bank debit card
1. Visit the official portal of Exide Life Insurance and click on the ‘Pay Premium’ tab.
2. You will be redirected to a window where you need to fill in your policy number, date of birth, email and mobile number. After entering the ‘captcha’ code and clicking the ‘Submit’ button, the details of your policy will be displayed along with the break-up of the various applicable premiums and the total payable premium amount for policy continuation
3. The dropdown under the ‘Select Payment Option’ gives you an array of options to pay premiums for your policy. Select the ‘Debit Card’ option and click on the ‘Proceed’ button.
You will get two options for premium payment – Debit Card and Debit Card + ATM PIN.
4. If you choose the Debit Card option, you need to enter your ICICI Bank debit card number, expiration date, CVV/CVC number and the name imprinted on the card. You will be sent an OTP on your registered mobile number to make the payment.
5. On the other hand, if you choose the Debit Card + ATM PIN option, you need to choose ICICI Bank from the ‘Select Bank’ drop down.
Once selected, you need to enter your ICICI Bank card number, expiration date, CVV/CVC number and the name imprinted on the card. You will be asked to enter your ATM pin to make the required payment.
Payment of insurance premium through debit card is a simple and convenient way to ensure that your policy is intact.
Thus, similar to the steps used to pay premium through ICICI Bank debit card, debit card of any other bank can also be used. It helps to pay premium for your Exide Life Insurance policy in a hassle-free manner, thereby ensuring you and your dependants get policy benefits without any barrier. To know more about the various policies offered by Exide Life Insurance, click here.