In order to facilitate customers with more ease in paying premium of policies a private insurance company Canara HSBC Oriental Bank of Commerce Life Insurance Company rolled out a new online facility to revive the lapsed policy. The company has launched this new facility that will make help customers to pay premium of policies online without making efforts. With the help of this facility they can also reinstate the lapsed policy easily and more conveniently.
The process to reinstate the policy is a very simple three step process , first the customer has to login at the portal and after successful login select the lapsed policy option, then after that customer has to generate the premium due quote and fill in the health declaration after this the third and last step is pay the premium through the premium gateway. In the three simple steps without going anywhre, customer can easily perform the work while sitting at home.
Chief executive officer of the company stated that earlier customers find it difficult to get the policies reinstated since they need to visit the insurer’s office, but now with the help of this facility their problem has been solved and further this facility will also help the company to enhance the persistence of the company.