Partial Payment for LIC Annuity using Amex/other CC

[Aditya12]

My dad is looking forward to paying 10L for an LIC annuity plan that happens to accept Amex CC however we do not have any card with this much limit. I do not see an option to pay in parts. Is it somehow possible to do partial payment using my Amex (to achieve yearly milestone on platinum travel) and rest through any other mode or other CCs?

 

[Deleted member 11974]

contact lic people and ask them to allow you to split your payment in parts
such as quarterly monthly or semi annually

 

[Deleted member 11974]

Then buy amazon pay vouchers via amex multiplier using your amex cc and then pay it for accelerated rewards

 

[Aditya12]

contact lic people and ask them to allow you to split your payment in parts
such as quarterly monthly or semi annually

I don’t think they can allow splitting the payments over months because the annuity plan is single payment/premium plan.

 

[Deleted member 11974]

ask lic if it is possible if not
then if you need to make a single payment of 10L then ask amex to allow you to go over limit and do the transaction
also amex doesnt give base reward points for insurance
buying apay vouchers here is beenficial if possible

 

[starstruck]

My dad is looking forward to paying 10L for an LIC annuity plan that happens to accept Amex CC however we do not have any card with this much limit. I do not see an option to pay in parts. Is it somehow possible to do partial payment using my Amex (to achieve yearly milestone on platinum travel) and rest through any other mode or other CCs?

You can try to ask customer care to generate two payment links for the policy with different amounts. Someone in TF did it by asking the customer care but it was for a different insurance provider.

 

[starstruck]

Found it

Possible to split TATA AIA insurance paynent across multiple cards?

Any idea if its possible to split a TATA AIA insurance premium payment (>3 lakhs) across multiple cards, would like to take advantage of milestone benefits of a few cards. No option to split payment on payment page

www.technofino.in

 

[Aditya12]

You can try to ask customer care to generate two payment links for the policy with different amounts. Someone in TF did it by asking the customer care but it was for a different insurance provider.

Will check on this!!

 

[aceventura]

Then buy amazon pay vouchers via amex multiplier using your amex cc and then pay it for accelerated rewards

Isnt there a 25K monthly limit on Amazon Pay Vouchers for each Amex card?

 

[aceventura]

I don’t think they can allow splitting the payments over months because the annuity plan is single payment/premium plan. View attachment 34798

Only way is to get split payment links from LIC, as even if you pay via premium cards, they would have reward capping for insurance payments.

But LIC being LIC, it is questionable whether they have such facilities. But it is worth to find out if they do have any such.

 

[Deleted member 11974]

Isnt there a 25K monthly limit on Amazon Pay Vouchers for each Amex card?

YOU CAN MAKE multiple accounts
also buy from other cards ortal such as smart buy

 

[ALOAK]

My dad is looking forward to paying 10L for an LIC annuity plan that happens to accept Amex CC however we do not have any card with this much limit. I do not see an option to pay in parts. Is it somehow possible to do partial payment using my Amex (to achieve yearly milestone on platinum travel) and rest through any other mode or other CCs?

No annuity can't be split it is one single payment agreed at the interest at the time of opening annuity and once completed your father should get a monthly.payments into his account. And it can't be withdrawn or stopped once opened only way is that if the subscriber passes away it will.go to the nominee tax free amount fully invested 10lakhs. Then u can decide if u want to continue annuity but will.prevail I terest rate at the time of your continuity else u can keep that bulk amount who ever is the nominee