I want the annual premiums of my policy to be automatically debited from my bank account, or get paid online. How can I do this?First, you need to check with your life insurer if they provide an online payment service. Generally all insurance companies have a list of banks (where you need to have an account) or specific credit cards, through which payments can be made online. Also, you should have opted for net banking facility with that bank and/or credit card.
If you haven’t already done this, you can contact the bank, which will give you a form to fill in which you need to give a mandate for direct debit for the billed amount directly from your bank account. You will also have to give your bank account details and other requisite information to the insurance company. After this, your policy premium bill shall be sent to your bank and the bank will debit the amount from your account and remit the payment to your insurers.
