LIC issues co-branded credit cards in collaboration with Axis Bank

[sathish]

These credit cards are lifetime free

LIC Cards Services Limited is a 100% subsidiary of Life Insurance Corporation. LIC issues co-branded credit cards in collaboration with Axis Bank and IDBI Bank. There are many advantages of these cards. These credit cards are lifetime free. You get complimentary points on issuance of the card. Apart from this, on depositing the premium, double benefit is available in the form of reward points.

LIC Signature Credit Card

LIC and Axis Bank together issue three types of credit cards. Their names are-LIC SIGNATURE CREDIT CARD, LIC PLATINUM CREDIT CARD and LIC TITANIUM CREDIT CARD. 2 Reward Points on Rs.100 on premium deposited with Signature Credit Card. You get 1 reward point for every Rs 100 spent on other types of spends as well. Apart from this, complimentary lost credit card liability insurance is available equal to the limit of the credit card. Personal accidental insurance cover of 5 lakhs and air accidental insurance cover of 1 crore is available. Fuel surcharge of 1 percent is waived off on this card. Transaction should be between Rs.400 to Rs.4000. Lounge facility is available at selected airports.

LIC Platinum Credit Card

Same facility is also available on LIC Platinum Credit Card. 2 reward points on depositing a premium of Rs.100. Complimentary Lost Credit Card Liability Insurance is available. Its limit is equal to the credit card limit. Personal accident insurance of Rs 3 lakh and air accident insurance of Rs 1 crore is available. Fuel surcharge of 1 percent is waived off on transaction at the petrol pump. A maximum of Rs 400 can be availed in a month.

LIC Titanium Credit Card

With the help of LIC Titanium Credit Card, you get 2 reward points for depositing LIC premium of Rs.100. 1 reward point for every Rs 100 spent on non-premium spends. However, this facility is not available on fuel, wallet and EMI transactions. Complimentary Lost Credit Card Liability Insurance is available, whose limit is equal to the credit card limit. Personal accidental cover is not available in this. Fuel surcharge waiver of 1 per cent is also available. This limit for one month is Rs 400.

 

[simal]

These cards lack proper marketing , hence many people arent aware about it. I have been using this card for last 10 years for my LIC payments and it provides 2% value in return

 

[luciferlucifer is verified member.]

IDBI does not issues this card without a bank account i think so

 

[TheKartikSangwan]

Uses SBI simplyclick to pay the premium through Amazon and gets 2.5% reward points,

 

[Avishma1]

These cards lack proper marketing , hence many people arent aware about it. I have been using this card for last 10 years for my LIC payments and it provides 2% value in return

Only 2%?

 

[Paritosh]

Amazon pay ICICI offers 2% for insurance payment. Other cards offer similar or more returns. Is it worth to get this card just for LIC payment?

 

[Paritosh]

I'm planning to pay with SBI cashback this time

 

[simal]

Amazon pay ICICI offers 2% for insurance payment. Other cards offer similar or more returns. Is it worth to get this card just for LIC payment?

There is no cap on the reward points with LIC cards. If you have a huge insurance premium to be paid, This will be advantageous. I think all other cards have a cap on reward points

 

[anbarsn]

There is no cap on the reward points with LIC cards. If you have a huge insurance premium to be paid, This will be advantageous. I think all other cards have a cap on reward points

I don't think there is any limit for AmazonPay ICICI card. Correct me if i'm wrong.

 

[Darthvader]

What is the point of these LIC , if the reward points are expiring in 1 year.

 

[simal]

I don't think there is any limit for AmazonPay ICICI card. Correct me if i'm wrong.

There is no limit but as far as I know Amazon pay card offers only 1% cashback

 

[anbarsn]

There is no limit but as far as I know Amazon pay card offers only 1% cashback

Are we still speaking about insurance payments!? Because Amazon pay icici card offers 2% on insurance payments.

 

[simal]

Are we still speaking about insurance payments!? Because Amazon pay icici card offers 2% on insurance payments.
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Yes. But as per T&C the 2% cashback is available only once per biller, which means if you have multiple policies which you pay in a year, you will not be able to get 2% cashback. Also if this is routed thru amazon pay, there will be a limit of 1Lakh per transaction , hence if you have a policy payment of more than 1 lakh, you may not be able to pay it. Did you try making payment above 1 lakh so far?

 

[anbarsn]

Yes. But as per T&C the 2% cashback is available only once per biller, which means if you have multiple policies which you pay in a year, you will not be able to get 2% cashback. Also if this is routed thru amazon pay, there will be a limit of 1Lakh per transaction , hence if you have a policy payment of more than 1 lakh, you may not be able to pay it. Did you try making payment above 1 lakh so far?

Thanks for the info! Never knew that 2% is applicable only once. And I have not paid any insurance above 1Lac.

 

[Avishma1]

There is no cap on the reward points with LIC cards. If you have a huge insurance premium to be paid, This will be advantageous. I think all other cards have a cap on reward points

Amazon pay card

Yes. But as per T&C the 2% cashback is available only once per biller, which means if you have multiple policies which you pay in a year, you will not be able to get 2% cashback. Also if this is routed thru amazon pay, there will be a limit of 1Lakh per transaction , hence if you have a policy payment of more than 1 lakh, you may not be able to pay it. Did you try making payment above 1 lakh so far?

Not true, I pay hdfc and LIC insurance in same year and get 2% cashback on payment through Amazon Pay card. Moreover, last month I paid 36k in insurance and somehow got 4% cashback from Amazon Pay card

 

[karan.rghu]

Amazon pay card

Not true, I pay hdfc and LIC insurance in same year and get 2% cashback on payment through Amazon Pay card. Moreover, last month I paid 36k in insurance and somehow got 4% cashback from Amazon Pay card

So did I. Don't know if they will debit the extra 2% in the future.

 

[Avishma1]

Even if they make this correction, they should adjust it from future earned cashback instead of charging it on the card unlike SBI(ripper) card.

 

[Paritosh]

Axis allows only 3 cards per person. There are already way better cards from axis like Flipkart axis, Airtel axis, Axis ace, axis magnus, axis vistara. I already have 2. So I am skipping it.

 

[SiddharthR]

Axis allows only 3 cards per person. There are already way better cards from axis like Flipkart axis, Airtel axis, Axis ace, axis magnus, axis vistara. I already have 2. So I am skipping it.

I think can be taken more, basis relationship

 

[Paritosh]

I think can be taken more, basis relationship

I checked from multiple sources. Few people got the 4th card as magnus. That also after good relationship with the bank. I also want more cards 😅 and upcoming co-branded cards with best offers 🤑