In such cases, the important factors are: If the premium is paid by any third party other than the policyholder, you need to submit the Declaration of Relationship. If the payer is an NPO (Non-Profit organization) like an NGO/charitable trust, the relevant portion of the Third-party declaration needs to be filled. For premium payment above Rs. 1,00,000, a copy of the identity and residence proof of the payer needs to be submitted. In some cases, income proof is also mandatory. Cheque or demand draft payments are accepted between 9.30 AM to 3.30 PM from Monday- to Friday and between 9.30 AM to 1.00 PM on Saturday. EMI option is available for Axis Bank and ICICI Bank credit cards through Mswipe. As per RBI guidelines, non- MICR cheques may not be acceptable at a few locations.