Auto Premium Paid System

LIC MF APPS is auto premium paid system for all your LIC policies. Register your policies and take advantage of it. For registration download MoRa Finserve app.

Procedure

  • Step 1

    Invest in LIC MF Schemes (Liquid Fund, Savings Fund or Banking & PSU Debt Fund under Growth Option) in your name.

  • Step 2

    To register for Auto-SWP Facility, fill up the mandate form completely.

  • Step 3

    Submit the mandate form to the LIC MF Investor Service Centre

  • Benefit 1

    Premiums for the registered LIC policies will be directly paid to LIC from your LIC MF Schemes.

  • Benefit 2

    Once registered, no hassle to remember due dates of various policies.

  • Benefit 3

    Risk of policy lapsation is eliminated.

  • Benefit 4

    Avail benefit of a grace period too.

  • Benefit 5

    Periodic SMS/ Email alert to the investor.

How it works?

All LIC Policies allowed for Premium Deduction through APPS except lapsed, Salary Savings Scheme, Monthly Mode, Single Premium, ULIP and Health Insurance Policies.

Debit date can be either Premium Due Date or 5 days prior to last date of grace Period.

Policy holder should keep sufficient balance in his MF folio on debit date

The smart way to make investment

At MoRa Finserve, we’re committed to providing you with the best technology to help you reach your goals.  our tools will help you sort through the small stuff, so you can focus on what you do best.

Eligible schemes for premium deduction

  • Regular income for short term 
  • Investment in debt / money market instruments with maturity of upto 91 days.
  • Risk – Low
  • Regular Income for short term
  • A fund that focuses on low duration securities.
  •  Risk – Moderate
  •  Regular income for medium term capital appreciation with current income
  • An income fund that invests predominantly in debt
    and money market instruments issued by Banks,
    PSU’s, PFIs and Municipal Bonds.
  •  Risk – Moderate

Mutual fund investments are subject to market risks. Please read the scheme information and other related documents carefully before investing.

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