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What's the regulation on premium payment by relatives and third party?

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27 Mar, 2022 by  Ravi Sethia

What's the updated and latest regulation around payment of a policy by policyholder's children/parent's credit card/any other digital account?


Also, let's say you have one Amazon account and use Amazon Pay balance to pay for policies of various members of family, is that allowed? The Amazon Pay balance can come from many sources of various members credit card/debit card or random gift vouchers?


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Term Life Insurance
Advanced
Basics of Insurance

1 Answer

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28 Mar, 2022
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While it is recommended that the payments must be made by a proposer in all policies, health insurance payments can still be made using other cards. However, please make all life insurance payments yourself.

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