LIC CardsLIC Signature Credit Card – Benefits, Fees & Eligibility
Is the LIC Signature Credit Card Right for You?
The LIC Signature Credit Card is best suited for users who prioritize Shopping, Utilities, Travel. With a joining fee of Nil and a renewal fee of Nil, this card offers free entry for new applicants. It offers Reward Points as its primary reward mechanism, with a rewards rate of 2 reward points per Rs 100–150 on international transactions and LIC premium payments; 1 reward point per Rs 100 on all other eligible categories (excluding fuel, wallet load, EMI transactions)..
Key Card Details
Nil
Nil
Reward Points
3.50%
Notable Perks
Domestic Lounge Access
2 complimentary domestic lounge accesses per quarter.
Insurance Coverage
Personal accident cover up to Rs 5 lakhs; air accident cover up to Rs 1 Crore; purchase protection up to Rs 1 lakh; card lost cover up to Rs 5 lakhs.
Spend-Based Waiver
Not applicable due to zero joining and renewal fees.
Things to Consider
No welcome or milestone benefits limit upfront and incremental value compared to premium competitors.
Lounge access is restricted to domestic locations only, excluding international travel convenience.
Rewards redemption is confined to the LIC catalog, reducing flexibility versus open-network programs.
Benefits & Features
Welcome Offer
No welcome benefits offered on this card.
Rewards Rate
2 reward points per Rs 100–150 on international transactions and LIC premium payments; 1 reward point per Rs 100 on all other eligible categories (excluding fuel, wallet load, EMI transactions).
Reward Type
Reward Points
Reward Redemption
Redeem points via LIC rewards catalog for products, e-vouchers, and gift cards; or contact customer care at 1800-419-0064.
Domestic Lounge Access
2 complimentary domestic lounge accesses per quarter.
Insurance Coverage
Personal accident cover up to Rs 5 lakhs; air accident cover up to Rs 1 Crore; purchase protection up to Rs 1 lakh; card lost cover up to Rs 5 lakhs.
Travel Benefits
2 complimentary lounge accesses per quarter.
Fees & Charges
Joining Fee
Nil
Renewal Fee
Nil
Spend-Based Waiver
Not applicable due to zero joining and renewal fees.
Foreign Currency Markup
3.50%
Interest Rates
3.6% per month (52.86% per annum)
Fuel Surcharge Waiver
1% fuel surcharge waiver on fuel transactions between Rs 400 and Rs 4,000; maximum benefit capped at Rs 400 per month.
Cash Advance Charges
2.5% or a minimum of Rs 500
Rewards Redemption Fee
Rs 30 + GST
Pros & Cons
Pros
Key benefits and features of this card.
Zero joining and annual fees ensure fee-free ownership for conservative spenders and first-time users.
Strong reward rates on international spends and LIC premiums deliver enhanced value on routine outflows.
Comprehensive insurance coverage up to Rs 1 Crore provides robust financial protection for travel and life risks.
Complimentary domestic lounge access offers tangible lifestyle perks without annual spend thresholds.
Fuel surcharge waiver up to Rs 400 per month reduces transaction costs on everyday fuel purchases.
Cons
Key drawbacks and limitations of this card.
No welcome or milestone benefits limit upfront and incremental value compared to premium competitors.
Lounge access is restricted to domestic locations only, excluding international travel convenience.
Rewards redemption is confined to the LIC catalog, reducing flexibility versus open-network programs.
Eligibility requires a minimum net income of Rs 15 lakhs, which may exclude entry-level earners.
Absence of movie and dining privileges narrows the card’s utility for entertainment-focused users.
Product Details
Zero joining and annual fee ownership
2 reward points on every Rs 100–150 spent on international transactions and LIC premium payments
1 reward point on every Rs 100 spent on all other eligible categories (excluding fuel, wallet load, EMI transactions)
Personal accident cover up to Rs 5 lakhs and air accident cover up to Rs 1 Crore
Purchase protection cover up to Rs 1 lakh and card lost insurance up to Rs 5 lakhs
2 complimentary domestic lounge accesses per quarter
1% fuel surcharge waiver on fuel spends between Rs 400–Rs 4,000, capped at Rs 400 per month
Straightforward eligibility with comprehensive documentation support
Benefits & Features
Welcome Offer
No welcome benefits offered on this card.
Rewards Rate
2 reward points per Rs 100–150 on international transactions and LIC premium payments; 1 reward point per Rs 100 on all other eligible categories (excluding fuel, wallet load, EMI transactions).
Reward Type
Reward Points
Reward Redemption
Redeem points via LIC rewards catalog for products, e-vouchers, and gift cards; or contact customer care at 1800-419-0064.
Domestic Lounge Access
2 complimentary domestic lounge accesses per quarter.
Insurance Coverage
Personal accident cover up to Rs 5 lakhs; air accident cover up to Rs 1 Crore; purchase protection up to Rs 1 lakh; card lost cover up to Rs 5 lakhs.
Travel Benefits
2 complimentary lounge accesses per quarter.
What matters, explained clearly
Introduction
- The LIC Signature Credit Card is issued by Life Insurance Corporation in association with Axis Bank.
- It is positioned as an entry-level credit card with zero annual fee and is best suited for shopping and everyday spending.
- Top differentiating benefits include 2 reward points per Rs 100-150 on LIC premium payments and international transactions, complimentary domestic airport lounge access, and comprehensive insurance covers up to Rs 1 Crore.
Welcome Benefits
- No welcome benefits are offered on this card.
Fees
- Joining Fee: Nil
- Annual Fee: Nil
- Spend-Based Waiver: Not applicable
- Rewards Redemption Fee: Rs 30 + GST
- Foreign Currency Markup: 3.50%
- Interest Rates: 3.6% per month (52.86% per annum)
- Fuel Surcharge Waiver: 1% fuel surcharge waiver on fuel transactions between Rs 400 and Rs 4,000; maximum benefit capped at Rs 400 per month
- Cash Advance Charges: 2.5% or a minimum of Rs 500
Rewards
Rewards Rate
- Earn 2 reward points for every Rs 100 (or Rs 150 as noted) spent on:
- International transactions
- LIC premium payments
- Earn 1 reward point for every Rs 100 spent on all other categories, excluding:
- Fuel transactions
- Wallet load
- EMI transactions
Movies & Dining
- Not applicable
Travel
- 2 complimentary lounge accesses per quarter
Domestic Lounge Access
- 2 complimentary domestic lounge accesses per quarter
International Lounge Access
- Not applicable
Golf
- Not applicable
Insurance Benefits
- Personal accident insurance cover up to Rs 5 lakhs
- Air accident insurance cover up to Rs 1 Crore
- Purchase protection insurance up to Rs 1 lakh
- Card lost insurance cover up to Rs 5 lakhs
Rewards Redemption Guide
- Reward points can be redeemed through the LIC rewards catalog.
- Points can be used to purchase:
- Products
- E-vouchers
- Gift cards
- Cardholders may also contact customer care at 1800-419-0064 to redeem accumulated reward points.
Card Eligibility Criteria
- Applicant must be between 18-60 years of age
- Must have a minimum net income of Rs 15 lakhs
- Must be a citizen of India or an NRI
Documents Required
- Identity Proof: Aadhaar Card, Driving Licence, Passport, PAN Card, or Voter ID (any one)
- Residential Proof: Passport, Aadhaar Card, Driving Licence, or Voter ID (any one)
- Copy of PAN Card
- Colored photograph
- Latest salary slips, bank statements, ITR, or Form 16
Card Review
- Who should apply: First-time credit card users looking to build credit history, frequent LIC premium payers, and shoppers seeking basic insurance coverage and lounge access without annual fees.
- Pros:
- Zero joining and annual fees
- Strong reward rates on international spends and LIC premiums
- Comprehensive insurance coverage up to Rs 1 Crore
- Complimentary domestic lounge access
- Fuel surcharge waiver
- Cons:
- No welcome or milestone benefits
- Limited to domestic lounge access only
- Rewards redemption restricted to LIC catalog
- Value: A practical entry-level card for conservative spenders and LIC policyholders who prioritize fee-free ownership and insurance protection.
Important Product Details
- Zero joining and annual fee
- 2 reward points on every Rs 100-150 spent on international transactions and LIC premium payments
- 1 reward point on every Rs 100 spent on all other eligible categories (excluding fuel, wallet load, and EMI transactions)
- Personal accident cover up to Rs 5 lakhs
- Air accident cover up to Rs 1 Crore
- Purchase protection cover up to Rs 1 lakh
- Card lost insurance up to Rs 5 lakhs
- 2 complimentary domestic lounge accesses per quarter
- 1% fuel surcharge waiver on fuel spends between Rs 400-Rs 4,000, capped at Rs 400 per month
Other Details
- No milestone benefits are available on this card.
- Spend-based waiver is not applicable due to zero joining and renewal fees.
- Terms and conditions apply; benefits and coverage limits are subject to issuer policies.