The verdict
The IDFC FIRST Bank LIC Classic and Select Credit Cards deliver tangible utility for households with recurring LIC life insurance policies. By combining 10X points on policy premiums with 0% foreign exchange markup, railway and domestic airport lounge access, and zero annual fees, they convert mandatory insurance obligations into rewarding lifestyle benefits.
The maths for it
A policyholder paying ₹60,000 annually across LIC policies (via the official portal) and spending ₹15,000 monthly on essentials and general retail earns approximately 4,800 points from premiums and 7,200 points from everyday retail spending (12,000 points total, worth ₹3,000 in statement credit or travel redemptions). Factoring in up to 8 domestic airport lounge visits on the Select tier and 0% forex markup on international expenses, the card provides solid recurring value against zero annual fees.
The maths against
Cardholders who do not hold active LIC life insurance policies or who pay non-LIC private insurance premiums (which are excluded from accelerated rewards) will find broader reward utility on core lifestyle cards like IDFC FIRST Select or Wealth. Additionally, existing IDFC FIRST credit cardholders are ineligible to apply.
✓What works
- +100% Lifetime Free with zero joining and zero renewal charges for life.
- +10X reward points (2.00% return) on LIC insurance premium payments paid via the official LIC portal.
- +5X reward points (1.00% return) on essentials (groceries, utilities, education, railways) and everyday retail spending.
- +Genuine 0% foreign exchange markup on all international transactions.
- +2 complimentary domestic airport lounge visits per calendar quarter (8 visits per year on Select variant).
- +4 complimentary railway lounge visits per calendar quarter across major Indian stations.
- +Comprehensive protection: Up to ₹5 Lakhs personal accident cover, ₹1 Crore air accident cover, and complimentary Roadside Assistance worth ₹1,399.
- +RuPay variant enables direct Credit-on-UPI merchant scan-and-pay capability.
- +Points can be used directly to fund future LIC insurance premium payments.
✕What doesn't
- −Reward points have a 3-year validity period (unlike core IDFC cards where points never expire).
- −10X premium rewards apply strictly to the first 5 LIC payments per cycle made via the official licindia.in portal; private insurance is excluded.
- −5X rewards on essentials are capped at 600 points per month.
- −Existing IDFC FIRST Bank credit cardholders are not eligible to apply.
- −Fuel, rental, cash withdrawals, and non-LIC insurance payments are excluded from reward accrual.
What it earns
1X = 1 Reward Point per ₹125 spent. 1 Reward Point = ₹0.25 flat value. Points are valid for 3 years.
| Category | Rate | Monthly Cap | Per ₹1L spent |
|---|---|---|---|
| LIC Insurance Premiums (10X) | 10 Points / ₹125 (2.00% value) | First 5 transactions/cycle | 8,000 Points (~₹2,000 value) |
| Essentials (Grocery, Utility, Railway, Education, Govt) (5X) | 5 Points / ₹125 (1.00% value) | 600 Points / month | 4,000 Points (~₹1,000 value) |
| All Other Domestic Retail Spends (5X) | 5 Points / ₹125 (1.00% value) | Uncapped | 4,000 Points (~₹1,000 value) |
Accelerated earn
10X Points on LIC Premiums + Up to 20% Travel Bonus
Earn 10X points on LIC premium payments and bonus points on flight and hotel bookings via the bank app.
| Category / Channel | Multiplier Rate | Monthly Cap | Cap / Condition |
|---|---|---|---|
| LIC Insurance PremiumsValid only on premiums paid through LIC's official website (licindia.in). | 10X · 10 Points / ₹125 (2.00%) | Max 5 transactions per billing cycle | — |
| Hotel Bookings via Bank AppBooked via FIRST Rewards Gallery in IDFC FIRST Bank app. | 20% Bonus · 20% Bonus Points per ₹125 | Uncapped | — |
| Flight Bookings via Bank AppBooked via FIRST Rewards Gallery in IDFC FIRST Bank app. | 8% Bonus · 8% Bonus Points per ₹125 | Uncapped | — |
Redemption options
Redeem points on IDFC FIRST Rewards portal or pay with points on online shopping, travel bookings, or directly towards subsequent LIC premium payments with zero redemption fees.
| Redemption Channel | Value Per Point | Minimum | Ceiling / Limits | Fee |
|---|---|---|---|---|
| LIC Insurance Premium PaymentsBEST VALUE | ₹0.25 / Reward Point | 500 pts | None | Nil |
| Direct Statement Cash CreditBEST VALUE | ₹0.25 / Reward Point | 1,000 pts | None | Nil |
| Flight & Hotel BookingsBEST VALUE | ₹0.25 / Reward Point | 500 pts | None | Nil |
Reward Scope: Inclusions & Exclusions
✓Eligible Spends (Inclusions)
- +LIC life insurance premiums paid on the official LIC website.
- +Groceries, utility bill payments, railway tickets, and FASTag recharges.
- +RuPay UPI payments at merchants across India.
- +Domestic offline retail purchases and dining.
✕Excluded Spends & Fee Traps
- −Private non-LIC insurance payments.
- −Rental and property management payments.
- −Fuel purchases (eligible for 1% surcharge waiver only).
- −ATM cash withdrawals and EMI conversions.
Fee Schedule & Waiver Criteria
| Fee Component | Amount / Rate |
|---|---|
| Joining Fee | ₹0 (100% Lifetime Free) |
| Annual Renewal Fee | ₹0 (100% Lifetime Free) |
| Finance Charges (Interest Rate) | 0.71% to 3.85% per month (8.5% to 46.2% per annum) |
| Foreign Currency Markup | 0% (Zero Forex Markup) |
| Cash Advance Fee | ₹199 per transaction (interest-free up to 45 days) |
| Fuel Surcharge Waiver | 1% waiver on ₹200 to ₹5,000 transactions (Max ₹300/month) |
Eligibility & Approval Criteria
| Criteria | Requirement |
|---|---|
| Target Demographic | LIC Policyholders, Salaried Individuals, and Self-Employed Professionals |
| Existing Cardholder Rule | Existing IDFC FIRST Bank credit cardholders are ineligible to apply |
| Age Requirement | 21 to 65 years |
| Credit Score | 710+ CIBIL score recommended |
Frequently Asked Questions
Are the LIC IDFC FIRST Credit Cards genuinely Lifetime Free?
Yes. There is absolutely no joining, membership, or annual renewal fee on both the LIC Classic and LIC Select credit card variants. The cards are 100% Lifetime Free for all approved cardholders.
Can I apply if I don't own an LIC policy?
Yes. You can apply even if you do not hold an active LIC policy. However, to maximize the accelerated 10X reward tier, owning and paying an LIC policy through the official website is beneficial.
Can existing IDFC FIRST Bank credit cardholders apply for this card?
No. Per IDFC FIRST Bank's product guidelines, existing IDFC FIRST Bank credit cardholders are not eligible to apply for the LIC co-branded card.
How do I earn 10X rewards on LIC premiums?
You earn 10X reward points (10 points per ₹125 spent, equal to 2.00% value) when paying your LIC insurance premiums directly on the official LIC of India website (https://licindia.in/). Accelerated rewards apply to up to the first 5 LIC transactions per statement billing cycle.
What is the airport and railway lounge access policy on the Select variant?
The LIC Select Credit Card provides 2 complimentary domestic airport lounge visits per calendar quarter (8 visits per year) and 4 complimentary railway lounge visits per calendar quarter across major Indian stations.
Does this card provide zero forex markup?
Yes. The LIC IDFC FIRST Credit Cards provide 0% foreign exchange markup on all international transactions, eliminating conventional 3.5% currency conversion charges abroad or on international online retail sites.
Editorial Deep-Dive Analysis
Comprehensive Overview: IDFC FIRST Bank LIC Classic & Select Credit Cards
The IDFC FIRST Bank LIC Classic & Select Credit Cards are co-branded insurance and lifestyle credit cards issued by IDFC FIRST Bank in collaboration with LIC Cards Services Ltd (LIC CSL). Designed specifically for India’s massive community of Life Insurance Corporation (LIC) policyholders, these cards are structured on a permanent 100% Lifetime Free model with no joining or annual renewal costs.
The cards bridge routine household protection with premium credit features by awarding 10X reward points on LIC insurance premiums, 5X rewards on essentials and daily retail spends, 0% foreign currency markup, up to 8 complimentary domestic airport lounge visits per year (on the Select variant), 16 railway lounge visits annually, complimentary Roadside Assistance, and accidental cover up to ₹5 Lakhs.
Key Privileges and Practical Everyday Benefits
- Accelerated Rewards on Life Insurance Premiums:
- Earns 10X reward points per ₹125 spent (2.00% effective value) on LIC insurance premium payments paid through the official LIC website (
https://licindia.in/). - Cardholders can pay up to 5 policy premiums per statement cycle under the 10X tier, turning essential family protection into significant rewards.
- Earns 10X reward points per ₹125 spent (2.00% effective value) on LIC insurance premium payments paid through the official LIC website (
- Everyday Essentials & Broad Retail Multipliers:
- Essentials (5X): Earns 5 reward points per ₹125 (1.00% return) on grocery shopping, utility bill payments, Indian Railways ticket bookings, FASTag recharges, education, and government payments (capped at 600 points per month).
- All Other Spends (5X): All standard domestic offline and online purchases earn 5 points per ₹125 (1.00% return) with no monthly caps.
- Airport & Railway Lounge Coverage:
- Domestic Airport Lounges: 2 complimentary visits per calendar quarter (8 visits per year) on the Select variant at major domestic airport terminals across India.
- Railway Lounges: 4 complimentary executive lounge visits per calendar quarter (16 visits per year) at major railway stations.
- Zero Foreign Exchange Markup:
- Features 0% foreign exchange markup on all global point-of-sale transactions and international online retail purchases, saving 3.50% + GST compared to traditional credit cards.
- Flexible Reward Redemption Paths:
- 1 Reward Point = ₹0.25 flat value.
- Points can be redeemed for statement credit, flights, hotel bookings, brand vouchers, or used directly online—including toward funding subsequent LIC insurance premium payments. Points carry a 3-year validity with zero redemption handling fees.
- Comprehensive Insurance & Protection Suite:
- Personal Accident Cover of up to ₹5,00,000 and Lost Card Liability cover of ₹50,000 (activated with at least one transaction in the preceding 30 days).
- Air Accident Cover of up to ₹1 Crore.
- Complimentary Roadside Assistance (RSA) worth ₹1,399.
- Travel insurance coverage of ₹4,000 each for loss or delay of checked-in baggage, loss of passport, and flight delay.
Important Terms and Spend Conditions to Keep in Mind
Cardholders should note specific operational conditions and restrictions:
- Eligible Insurance Portal: Accelerated 10X points apply strictly when insurance premiums are paid directly on the official LIC portal (
licindia.in). Premiums paid via third-party aggregator apps or at offline branch counters earn base rewards. - Monthly LIC Payment Cap: The 10X multiplier is applicable to the first 5 LIC premium transactions per billing cycle.
- Private Insurance Excluded: Premiums paid toward non-LIC private insurers (HDFC Life, ICICI Prudential, SBI Life, Max Life, etc.) do not qualify for the insurance rewards tier.
- Point Expiry: Reward points carry a 3-year validity from the date of accrual, unlike standard IDFC FIRST proprietary cards whose rewards never expire.
- Ineligibility for Existing Cardholders: Individuals who already hold any primary IDFC FIRST Bank credit card are ineligible to apply for this co-branded offering.
- Minimum Amount Due Rule: Failure to pay at least the Minimum Amount Due by the payment due date results in forfeiture or reversal of reward points for that billing cycle.
Who Benefits Most
- LIC Policyholders & Family Breadwinners: Families servicing multiple recurring LIC endowment, term, or money-back policies who want an effortless 2% return on their annual insurance outlay.
- Frequent Train and Domestic Air Travelers: Commuters and holiday travelers who value combined domestic airport lounge access (8 visits/year on Select) and railway executive lounge access (16 visits/year).
- Households Seeking Lifetime Free Value: Consumers looking for a primary or secondary credit card with zero joining and annual fees, paired with comprehensive accident insurance and Roadside Assistance.
- Cross-Border Spenders: International travelers who benefit from 0% forex markup on global transactions without paying premium card fees.
Independent Editorial & Statutory Disclaimers
Institutional Transparency & Nominative Fair Use Statement
CredSutra operates as an independent credit card discovery and consumer intelligence engine. CredSutra is NOT a bank, Non-Banking Financial Company (NBFC), Direct Selling Agent (DSA), or Lending Service Provider (LSP).
⚖️ Trademark & Intellectual Property Ownership:All registered trademarks, service marks, brand names, product titles, and emblems referenced on this page—including IDFC FIRST Bank, HDFC Bank, Axis Bank, SBI Card, ICICI Bank, RBL Bank, American Express, Kotak Mahindra Bank, Visa, Mastercard, RuPay, and related marks—are the exclusive intellectual property of their respective banking corporations and trademark proprietors. CredSutra asserts no proprietary claim, title, or interest in these marks.
🏛️ Nominative Fair Use (Trade Marks Act, 1999):The display and descriptive mention of commercial brand and product names on this portal is strictly nominative and for comparative identification, consumer education, and public research purposes pursuant to Section 30(1) and Section 30(2)(d) of the Trade Marks Act, 1999 (India). CredSutra is not sponsored by, affiliated with, or endorsed by IDFC FIRST Bank.
🎨 Original Procedural Visual Assets:All visual card cards rendered on CredSutra are original, procedural CSS/SVG mathematical abstractions. CredSutra does not scrape, host, or reproduce proprietary 3D card renders, official bank marketing collateral, or copyrighted photographic assets belonging to IDFC FIRST Bank or payment networks.
📋 Official Bank Terms & Verification:Fee structures, reward multipliers, and lounge access rules are derived from publicly available Most Important Terms and Conditions (MITC) schedules and bank circulars. Card issuers retain the right to modify terms at their discretion. Outbound application links redirect users directly to the official bank portal, where the final decision on credit limits and issuance rests exclusively with IDFC FIRST Bank.
Read Full Legal & Regulatory Disclaimers →Section 30 Trade Marks Act, 1999 & Rule 3(2) IT Rules 2021