The verdict
The ideal starter insurance card for everyday LIC policyholders. With easy eligibility (₹20,000 monthly income) and zero annual fee, it turns routine life insurance premium payments into direct 2% cashback with 1 Point = ₹1.00 redemption.
The maths for it
Paying ₹60,000 annually in LIC insurance premiums (₹1,200 valueback) + ₹60,000 in general retail (₹600 valueback) yields ₹1,800 in direct value against ₹0 fee forever.
The maths against
For spenders requiring airport lounge access, the Signature variant provides domestic lounge access for a slightly higher income requirement.
✓What works
- +2% valueback (2 Plus Points per ₹100) on all LIC insurance premium payments with zero capping.
- +1% flat valueback (1 Plus Point per ₹100) on all other domestic retail spending.
- +High point conversion: 1 Plus Point = ₹1.00 real value.
- +100% Lifetime Free (LTF) with zero joining fees and zero annual charges.
- +Accessible eligibility criteria suited for young salaried professionals.
✕What doesn't
- −No complimentary airport lounge access.
- −2% accelerated rate exclusive to LIC insurance payments only.
- −Standard 3.5% + GST forex markup.
What it earns
1 LIC Plus Point = ₹1.00 when redeemed for vouchers, catalog items, or statement credit.
| Category | Rate | Monthly Cap | Per ₹1L spent |
|---|---|---|---|
| LIC Insurance Premium Payments | 2.0% Valueback (2 RP / ₹100) | Uncapped | 2,000 Plus Pts (₹2,000 value) |
| All Other Domestic Retail Spends | 1.0% Valueback (1 RP / ₹100) | Uncapped | 1,000 Plus Pts (₹1,000 value) |
| Fuel & Rent | 0% | Excluded | 0 Plus Pts |
Accelerated earn
2% on LIC Premiums & 1 Point = ₹1.00
Earn double points on life insurance premium payments.
| Category / Channel | Multiplier Rate | Monthly Cap | Cap / Condition |
|---|---|---|---|
| LIC Insurance Premiums2 Plus Points per ₹100 spent. | 2× · 2.0% | Uncapped | — |
| General Retail1 Plus Point per ₹100 spent. | Base · 1.0% | Uncapped | — |
Redemption options
Redeem points at 1 Plus Point = ₹1.00 directly for gift vouchers or statement credit.
| Redemption Channel | Value Per Point | Minimum | Ceiling / Limits | Fee |
|---|---|---|---|---|
| Brand Vouchers & Gift CardsBEST VALUE | ₹1.00 / Plus Point | 500 pts | None | Nil |
| Statement CreditBEST VALUE | ₹1.00 / Plus Point | 1,000 pts | None | Nil |
Reward Scope: Inclusions & Exclusions
✓Eligible Spends (Inclusions)
- +All LIC policy premium payments (branch, portal, NACH).
- +General retail purchases.
- +Direct 1:1 point redemption.
✕Excluded Spends & Fee Traps
- −Non-LIC insurance companies (earn standard 1% rate).
- −Rent payments.
- −Fuel transactions (1% surcharge waiver on ₹400–₹4,000).
Fee Schedule & Waiver Criteria
| Fee Component | Amount / Rate |
|---|---|
| Joining Fee | ₹0 (Lifetime Free) |
| Annual Renewal Fee | ₹0 (Lifetime Free Forever) |
| Forex Markup | 3.5% + GST |
| Finance Charges | 3.6% / month (43.2% / year) |
Eligibility & Approval Criteria
| Criteria | Requirement |
|---|---|
| Age | 18–70 years |
| Salaried Income | ₹20,000+ monthly net salary |
| Self-Employed Income | ITR above ₹2.5 Lakhs per annum |
Frequently Asked Questions
Does LIC Axis Bank Platinum Credit Card offer airport lounge access?
No lounge access
What are the MITC charges, annual fees, and interest rates for LIC Axis Bank Platinum Credit Card?
The annual renewal fee is ₹0 (Lifetime Free Forever). Fee waiver condition: Lifetime Free — No annual fee forever. Revolving balance finance charges: 3.6% / month (43.2% / year). Foreign currency markup: 3.5% + GST. Check the current issuer MITC for other or missing charges.
What is the reward rate and point redemption value on LIC Axis Bank Platinum Credit Card?
Published earn rate: 2% on LIC Insurance Premiums (2 RP/₹100) · 1% other retail · 1 Point = ₹1.00 · 100% LTF. Listed Brand Vouchers & Gift Cards value: ₹1.00 / Plus Point.
Which transactions are excluded from earning rewards on LIC Axis Bank Platinum Credit Card?
Listed exclusions: Non-LIC insurance companies (earn standard 1% rate)., Rent payments., Fuel transactions (1% surcharge waiver on ₹400–₹4,000).. Check the issuer terms for any fuel surcharge waiver.
Who is LIC Axis Bank Platinum Credit Card best suited for in 2026?
The card details describe it as suited to LIC policyholders, entry-level earners, insurance premium payments & zero annual fee. Compare its terms with your spending and annual fee.
Editorial Deep-Dive Analysis
Comprehensive Overview: LIC Axis Bank Platinum Credit Card
The LIC Axis Bank Platinum Credit Card is a 100% Lifetime Free (LTF) entry-level co-branded insurance credit card, engineered in partnership with Life Insurance Corporation of India (LIC) for small-ticket policyholders, rural customers, and starter cardholders. Issued on the Visa Platinum platform with zero joining fee and zero annual renewal fee forever, the card provides an uncomplicated, zero-liability financial tool for everyday expenses.
The card offers 2X EDGE Reward points on LIC insurance premium payments (2 EDGE points per ₹100 spent), 1.0 EDGE point per ₹100 on general retail spending outside insurance, a complimentary personal accident insurance cover of ₹15 Lakhs, and a 1.0% fuel surcharge waiver across all petrol pumps in India.
Key Privileges and Practical Everyday Benefits
- 100% Lifetime Free Card: Zero joining fee and zero annual renewal fee forever with zero spending conditions or maintenance charges.
- 2X Rewards on LIC Premium Payments: Earn 2 EDGE Reward points per ₹100 spent on Life Insurance Corporation of India (LIC) insurance premiums paid through official LIC portals (0.4% return at 1 point = ₹0.20).
- ₹15 Lakhs Complimentary Accidental Insurance: Complimentary personal accidental death insurance protection up to ₹15 Lakhs for the primary cardholder.
- General Retail Rewards: Earn 1.0 EDGE Reward point per ₹100 spent on all other general retail domestic transactions outside insurance and excluded categories.
- Universal 1% Fuel Surcharge Waiver: 1.0% fuel surcharge waiver on all fuel purchases between ₹400 and ₹4,000 across all petrol pumps in India.
Important Terms and Spend Conditions to Keep in Mind
- No Airport Lounge Access: The LIC Platinum card carries no complimentary domestic or international airport lounge visits (policyholders seeking lounges should select the LIC Signature card).
- Official LIC Channel Payment: 2X accelerated rewards require paying insurance premiums directly through official LIC portals (licindia.in or the LIC Customer Portal).
- Monthly Insurance Reward Caps: Accelerated points on insurance premium payments are subject to monthly billing cycle ceilings to prevent bulk commercial merchant misuse.
- Excluded Spend Categories: Fuel purchases, rent payments, wallet reloads, cash advances, utilities, and government services do not earn reward points.
- Dynamic Currency Conversion (DCC) Fee: A 1.0% + GST markup applies on foreign transactions processed in INR by overseas merchants.
Who Benefits Most
- LIC Policyholders with Modest Premiums: Individuals who pay annual or semi-annual life insurance premiums to LIC and want rewards on a Lifetime Free card.
- First-Time Cardholders in Tier-2/Tier-3 Cities: Beginners seeking an unconditional zero-fee credit card with built-in ₹15 Lakhs personal accident insurance.
- Budget Savers Wanting Zero Financial Risk: Consumers who want a basic credit card for daily utilities and insurance payments with zero annual fee anxiety.
linkVerified Data & Notice Sources
- Axis Bank & LIC — Platinum Credit Card schedule of charges
- LIC Cops & Axis Bank — 2X insurance reward points terms
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