Other features:

Predefined Credit Limits: The card holders would have the flexibility of fixing credit limits less than the credit limit assigned to them and transactions beyond the card holder specified limit would be declined. This facility will also be applicable on the add-on cards issued against the account. The predefined limits can be changed on request and will be effective from the next billing cycle.

Temporary Credit Limit Enhancement*: Card holders can request for temporary enhancement in their credit limits and such temporary enhancement would be considered up to 30% of the original credit limit. The temporary credit limit would be restored to the original credit limit during the next billing cycle. This facility is

Revolving Credit Facility: On receiving the credit card statement, the cardholders would have the option of any one of the following payment options:

a) Payment of the Minimum Amount Due and carry forward the balance to the next billing cycle
b) Payment of any amount greater than Minimum Amount Due and the total amount due
c) Payment of the total amount due i.e., total amount outstanding

Balance Transfer Facility*:

The cardholder shall have the option to transfer the balances from other Bank credit card to their credit card account. This option would be provided only to the Primary Cardholder.

VISA Bill Pay facility: Credit cardholders shall also have the facility for paying utility bills and payments to various other services through their credit card using the VISA bill pay facility. Cardholders will have to register for the facility at http://www.visabillpay.in and can make payment to over 120 billers as on date. VISA International offers this service to all its cardholders.

Visa Bill Pay is a unique online service that enables cardholders with Visa branded cards issued by any Visa member to conveniently make their bill payments using their Visa branded cards. This is the first such service for cardholders in the Asia Pacific region and is currently available for cardholders in India.

Equated Monthly Installment Payments*: Cardholders have the option to convert any purchase transactions made using the card for value equal to more than Rs.2500/- into Equated Monthly Installments (EMI) of 6, 12 or 24 months. The interest rate for the amount would be 16% p.a. for tenor less than 6 months and 18% p.a. for tenor more than 6 months.

This would be provided only after one year of satisfactory operations in the credit card account.
* - Subject to terms and conditions as mentioned in card user's guide.

Eligibility:

LIC Credit Card - Eligibility:

Age Criteria:

Sl. No. Type of holding Minimum Age Maximum Age
1. Primary Cardholder 18 years 60 years
2. Add on Cardholder 18 years 65 years

General Eligibility:

Sl. No. Segment Minimum Age
1. LIC Employee Confirmed employees of LIC / Group Companies with SR No.
2. LIC Agents Club Member Agents of LIC of India viz. Corporate Club, CM Club, MDRT, ZM Club, DM Club & BM Club with in-force agency status.
3. LIC Policy Holders Salaried and Self-Employed Segment: The policyholder must have at-least one In-force or Fully Paid-up Non-Single Premium LIC Policy which must have completed at-least 3 years from the Date of commencement of the Policy till Date of Application.

HNI Segment (GC): Irrespective of the segments mentioned above, a person will be deemed to be a GC Customer if s/he has one or more Non-single premium policies through which Yearly Total premium of Rs. 30,000/- or more has been paid for last 3 consecutive years and all such policies are In-force or Fully paid-up as on the Date of Application.

Income criteria:

Sl.No. Segment Gold Platinum
1 LIC/Group Company Employees Min: Rs. 1.80 Lakhs p.a. Limit: Min: Rs. 1.80 Lakhs p.a.
Limit: >Rs. 30000
2 LIC Agents Surrogated Income Limit: Surrogated Income
Limit: >Rs. 30000
3 LIC Policy Holders Salaried Min: Rs. 1.80 lakhs p.a. Min: Rs. 3.00 lakhs
4 LIC Policy Holders Self Employed Min: Rs. 1.80 lakhs p.a. Min: Rs. 3.00 lakhs
5 LIC Policyholders - HNI (GC) Segment Surrogated Income Limit: Surrogated Income
Limit: >Rs. 30000

Other Criteria:

Documents to be furnished:
The prospective applicants will be from three different segment as above and hence will have different requirements. However, the requirements can be broadly classified into the following sub groups. They are:

Photo-Identity Proof: Copy of PAN Card is a mandatory document. In exceptional cases, where PAN No. is available but PAN Card is not available, one of the following documents may be submitted as alternate ID Proof;
Indian Passport, Driving Licence, Voter ID Card, Aadhar Card, Employment - ID card with photo issued by Government or PSUs, Ration Card with Photo, Copy of Bank Passbook with Photograph issued by nationalized Banks, IRDA Licence with photo, LIC/Group Companies' ID Card. Any document that is submitted as a part of KYC must be within the validity period. No expired documents shall be accepted in this regard.

Address Proof: The following documents shall be accepted as valid Address Proof for all the segments; Indian Passport, Ration Card, Driving Licence, Utility Bills such as Electricity, Telephone, Gas, Water, Postpaid Mobile, House Maintenance Bills etc. (Utility Bills payment date must not be more than 3 months old as on the date of Application). Bank Passbook (at-least one customer induced transaction during last 3 months). Rent Agreement, Lease Agreement, Aadhaar Card, Government / PSUs / LIC / Bank issued Staff Quarter Allotment Letter, Official Identity Card containing Residential Address (In case of Government, PSUs, Employees of LIC & Group Companies and Banks only) LIC Policy Bond, LIC Premium Receipt or Policy Status Report (If current residence address is mentioned). Employer's Certificate in prescribed proforma in case of LIC Employees only. Certified Agency Status Report extracted from LIC's Database through eFEAP Program (in case of LIC Agents only).

Income Proof:
a) LIC Employees: No Surrogated documents are allowed for this segment. Income proof is mandatory, which can be one of the following documents:

b) LIC Agents:
i) Income Documents: One of the following two documents
ii) Income-Surrogated Documents: No separate Income Proof is mandatory for this segment. All eligible Clubmember Agents are to submit Certified Agency Status Report showing the Club Membership Status in lieu of Income Proof.
c) LIC Policyholders:
i) Salaried Segment: One of the following documents;
ii) Self Employed Segment: Both the following documents are required.

iii) HNI Segment (GC):

No separate Income Proof is mandatory for this segment. All eligible policies (Non single premium, In-force/Fully Paid-Up, 3 Years or more duration) Certified Status Reports or Premium Receipts are to be submitted in lieu of Income Proof. A multiplier factor of 10 will be used to arrive at the Notional Income for this segment (Total Annual Non-single Premium X 10 = Notional Net Annual Income). However, depending on eligibility, Income Proof as mentioned above may additionally be submitted. In case, additional income proof is submitted, higher of the actual income & notional income shall be considered while determining the Net Annual Income.

In case the income proof does not clearly show Net Annual Income, then 80% of the gross income shall be treated as Net Annual Income. For Example: Form 16, Form- 16A, ITR may not disclose the deductions. In such cases, 80% of Gross Annual Income shall be treated as Net Annual Income. In case of Salary Slip, 12 times of Average Monthly Net Income shall be considered as Annual Net Income.

Handwritten Salary Slip shall be accepted only in case of Government/PSU Employees. However, the same must be signed & stamped by Authorized Signatory.

For self employed, ITR should be in the name of individual and not in the name of the company / firm.

Electronically/web-based submitted ITR shall also be accepted.

Relationship Proof:

i) LIC Employees: One of the following documents to be submitted. ii) LIC Agents: iii) LIC Policyholders: One of the following documents to be submitted.