Pay LIC Premium Online – Easy ways to pay

Life Insurance corporation/ LIC was established in 1956 is one of India’s oldest trusted and sold Life Insurance company. LIC is the oldest company to provide Insurance to Indians. LIC is known for its wider reach to the customers. There is a famous saying for LIC – LIC will be present where nobody can reach.

LIC offers all kinds of insurance plans to suit the need of different people. The products range from the endowment to moneyback, ULIPs, Children’s policies, Important life stages policies, term insurance, pension plans, annuity plans and more.

Although earlier also people were making online payments, this pandemic forced people to pay LIC premiums online. You can make LIC payments online through various channels.

LIC Online Payment Customer Portal

• LIC website
• Authorised banks
• authorised franchisees approved by LIC
•  Merchants

 

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Step by steps way to Pay LIC Premium online

You can now pay LIC premium online effectively. Pay LIC premium if you have to

• visit www licindia.in
• Click on pay premium online
• For Online LIC premium payment

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Get two options

1. Pay directly without login

2. Through the customer portal

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• If you choose pay direct without login you can pay your premium directly without any registration and you can also view or download LIC premium receipt.

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• From the drop down menu (the box below – pay direct, click on small triangle icon to choose) Choose renewal premium revival
• On next page click on proceed.
• Fill in your LIC policy details as shown in above picture
• Please fill correct email address and phone number to get the LIC premium paying receipt in your inbox.
• Don’t forget to click on I accept box.
• Choose premium payment method.
• Pay easily.

LIC Online payment through banks

You can pay LIC premium through India’s leading banks such as Axis Bank and City Union Bank, IDBI Bank ( the list is updated on July 2021)

Points to note before visiting Bank branch

#You can make payment for LIC policies which are active till now. The active policies are those policies for which you have paid the previous year’s premium.

# You can also pay Advanced premium 30 days before also but you cannot pay for next year or after 3 years 3 months or so.

# For term insurance policies you can make advance premium payment 15 days before the due date.

# The bank can issue a valid signed receipt upon receiving the payment

# The payments are accepted either in the form of cash or cheque or demand draft.

# If you are paying a premium late that you have to pay a late fee at the rate of 8% of the premium.

# You can not deposit the premium payment for ULIP and health insurance health policy.

# You are not allowed to pay for the upcoming financial year.

# Even you cannot pay for SSS ( monthly premium paying policies) policies.

LIC payment through agent merchant/ LIC Associates

LIC has also appointed authorized selected personals or agents who can collect premiums on behalf of LIC itself

You can pay the premium the agent for Life Insurance policies but not for health insurance policies

There is no service charge or fee levy for the uses of this service.

LIC payment through debit /credit card

You can also make a LIC payment using a debit or credit card. The process is very simple and this process is undertaken via IDBI Bank gateway the procedure to make free payment through debit or credit card is as follows:

1. Log into LIC website, the Click on the IDBI get way ( just below online payment button)
2. Choose your paying option debit or credit card . Enter premium amount. Applicable taxes and other charges will be displayed on the screen as you enter yourn premium details.
3. Submit after checking all the details
4. Now you will be redirected to a page where you have to enter your credit/debit card details such as credit/debit card number, card expiry date, CVV ,your name as printed on the card, email id and mobile number etc.
5. The captcha code displayed in the box
6. Enter one time password or ATM pin to complete the payment
7. Click on pay and after successful payment, your payment receipt will be sent to your registered email ID.

LIC premium payment through Paytm App

You can also use your Paytm app on the Paytm website to pay LIC premium online.

To pay LIC premium through Paytm just open the Paytm app

1. Click on recharge and bill pay section

2. Click on the LIC insurance pay section

3. Enter your LIC policy number and click proceed to make the payment using the Paytm wallet.

4. After successful LIC premium payment you will receive the confirmation message via Paytm notification SMS and email