Insurance Policy: Now you will not be able to pay this installment with a credit card, you should know


IRDAI is now going to do this so that you will not be able to pay the EMI of the loan on LIC policy through a credit card. IRDAI has now decided to discontinue this option. IRDAI has given guidelines to all life insurers in this regard.

IRDAI directed that all life insurers should stop using credit cards for repayment of loans against insurance policies. 

Significantly, in August 2022, it was announced by the Pension Fund Regulatory and Development Authority that it would not accept credit card payments for subscriptions and contributions to National Pension System Tier-II accounts.

Now IRDAI has decided in this regard. With this move of IRDAI, people may have to face some problems.

PC: freepik.