India's LIC Stops Credit Card Payments as Sri Lanka's SLIC Life Issues Record Bonus

LIC credit card payment SLIC Life bonus policyholder changes life insurance India Sri Lanka

India's Life Insurance Corporation (LIC) has removed credit‑card payments from its online premium portal, limiting online options to net banking, debit cards and UPI. Policyholders must now pay through agents or branches for credit‑card transactions, a change attributed to fee disputes with payment‑gateway provider Bill Desk.

Separately, Sri Lanka Insurance Life (SLIC Life) announced a record policyholder bonus of Rs 14.68 billion for the 2025 financial year, the largest single‑year bonus in the country's life‑insurance history. The excess will be added to the sum assured for eligible policies, boosting benefits for long‑term customers.

Both moves affect millions of policyholders in the two countries, reflecting insurers' responses to operational costs and financial performance.

Sources

LIC Policy holders Alert, This Service Become Discontinued - Times Bull [www.timesbull.com]

24 days ago

SLIC Life Declares Record Rs. 14. 68 Billion Policyholder Bonus, Setting New Industry High - Lanka Newspapers [www.lankanewspapers.com]

25 days ago