LIC extends deadline for premium payment after note ban

Public sector insurer Life Insurance Corporation (LIC) has extended the grace period for payment of renewal premium for policyholders till November 30, reports said. "To ensure our policyholders do not experience difficulty in paying renewal premiums, LIC has given certain concessions," LIC said in a statement. This comes amid a cash crunch following the demonetisation of ₹500 and ₹1,000 notes.