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LIC credit card launch: Earn 2X rewards on LIC premium payments, welcome bonus and more

New Delhi: LIC Cards Services Limited (LIC CSL) has launched two credit cards in India: the ‘Lumine’ Platinum Credit Card and the LIC CSL ‘Eclat’ Select Credit Card. The credit card arm of the state-owned insurer has partnered with IDBI Bank to launch the co-branded credit cards powered by RuPay.

Rakesh Sharma, MD and CEO of IDBI Bank said, “We are glad to be partners with LIC CSL and RuPay, for an innovative credit product that offers an array of benefits to our customers with a focus on health, entertainment, travel, and various beneficial reward points. We aim to elevate the experience of credit card expenditure towards a holistic benefit for our customers."

Zee Media Bureau|

Updated:Jul 30, 2021, 06:19 PM IST

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Who can apply for LIC credit cards?

In a press release, LIC said that only a specific demographic of customers can apply for the newly launched cards. Policyholders, agents and employees of LIC India will be able to apply for credit cards. Employees of LIC’s subsidiaries such as LIC Housing will also be able to apply for the co-branded cards.

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Benefits of LIC credit cards

LIC credit cards offer a slew of benefits to users. The life insurer claims that the benefits are ‘the best in class.’ Customers will get three delight points on purchases above Rs 100 with the Lumine card while they’ll get four delight points using the Eclat card.

Customers can also avail a fuel surcharge waiver of 1% on all transactions worth Rs 400 and more.

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Double rewards points on LIC Premium

Customers will get 2x reward points for paying the premiums of their LIC policy. For instance, if a customer pays Rs 1000 as a premium, he/she will get 60 delight points for using Lumine card or 80 delight points with the Eclat card.

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Welcome bonus on LIC credit cards

Customers applying for LIC credit cards will also get a welcome bonus if they spend more than Rs 10,000 within 60 days of receiving the card. Lumine cardholders will get 1000 delight points as a bonus while Eclat cardholders will receive 1500 delight points as a bonus.

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Extra perks of LIC credit cards

LIC credit cardholders are also entitled to receive several insurance policies such as Air Accident Insurance Cover, personal accident cover, permanent disability cover, and zero lost card liability, among others.

Image credits: Twitter/IDBI Bank