How to Pay for LIC Life Insurance Premium?

It is truly unpredictable what lies next, making it imperative to plan for the future in advance. To stay protected against any unforeseen event, it is best to invest in the right insurance plan life insurance, health insurance, and others. Life insurance is a type of insurance plan that provides financial protection to your loved ones even in your absence or when you are not around. Thus, owing to the importance of life insurance plans, several insurance companies including LIC now provide life insurance plans. In this blog, we will walk you through how to pay for LIC life insurance premiums in installments.

LIC Life Insurance Plans

LIC life insurance plans are an agreement between LIC and the policyholder whereby the former agrees to provide financial compensation in case the latter meets an unfortunate or untimely demise. There are a number of LIC plans offered by LIC such as LIC SIIP, LIC Jeevan Umang, LIC Bima Jyoti, LIC Jeevan Labh Policy, and more. Now, in order to keep the LIC plans active, it is important to pay the premiums on time. The premiums of a LIC life insurance plan vary depending on the type of plan you have bought, the coverage offered, and more. Moreover, to keep any of the LIC plans that you have bought active, you need to pay the premiums on time. 

How to Pay for LIC Life Insurance Premium?

You can easily pay the premiums for LIC life insurance plans on the LIC website. On the LIC website, you will be given two options of paying either through the customer portal or through the online service portal. 

• Without Login

This is suited for those who want to pay for the premium without login. Here is how you can do the same:

1. Go to the official website of LIC
2. Click on the ‘pay direct’ option. Then, a pop-up will appear from which you need to click a desired option.
3. Once you proceed, you will be given the option to enter your policy number, the premium instalment premium that you are required to pay, and others.
4. Then click on  ‘I agree’ option and then submit and then go the payment option.
5. Choose a desired mode of payment and pay for the LIC premium.

• For existing customers

1. Go to the website of LIC and enter your details.
2. Click on ‘online payment option’ where you will be redirected to premium payment portal.
3. Click on the ‘check and pay’ option. After confirming the details entered by you, proceed with the payment option. You can choose a desired payment option such as UPI, net banking, or others.

Take Away

Thus, you can easily pay for LIC Life insurance plans on the official website of LIC. 

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