The life insurance arm of ICICI Bank, ICICI Prudential Life has introduced a new premium payment service under which payment can be made through interactive voice response (IVR).

The scheme provides an option of premium payment over the phone with the help of a credit card. The service has been introduced to ease the mode of premium payment for policyholders. In order to make the payment, customers just need to call up at any customer service helpline numbers of ICICI Prudential Life and provide his/her policy number, amount of premium that has to be paid and his credit card details.

All Visa and Mastercards are accepted to make the premium payments.

This service which was launched on November 3rd by ICICI Prudential Life is likely to benefit customers in terms of saving time from their busy schedules.

For the first half of the fiscal ending on September 30th, ICICI Prudential Life Insurance posted a growth of 56% at Rs 6,726 crore in the total premium collection.