How To Perform LIC Policy Premium Online?
Published On Dec 08, 2021, Updated On Sep 18, 2023
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You can pay your LIC premium in a variety of ways. The greatest alternative for making premium payments is to do so online, as this is the most efficient and secure method. People are increasingly opting for this easy method of making payments online. The Life Insurance Corporation(LIC) of India, or LIC, offers a few online payment alternatives.
Here are the numerous ways you can pay for premiums online:
You can pay your LIC premium online by going to www.licindia.in and selecting 'Pay Premium Online' from the 'Online Services portal'. You have two alternatives here:
Pay directly (no login required) b) Pay through the customer portal.
Direct Payments (Without login)
Those who do not want to register with the portal might use this method. You can make three sorts of payments using this option: a) Advance Premium Payment, b) Loan Repayment, and c) Loan Interest Repayment.
Step 1: To make a payment, choose the 'Advance Premium Payment' option.
Step 2: On your computer screen, a pop-up will display illustrating the premium payment procedure and requesting client agreement. To give your consent, click the 'continue' button.
Step 3: Enter information such as the policy number, instalment premium (excluding taxes), and so on. If you don't enter the information accurately and on time, the session will expire, and you'll have to start the process over.
Step 4: Check the box next to "I Agree," and then click "Submit."
Step 5: The following step will display the specifics of the insurance for which you are paying a premium. Make your payments by clicking on 'Check & Pay.'
Step 6: You will be prompted to make a payment in the following step. Select a payment method.
Applicant Information Center (LIC)
You can even get a LIC app for your phone. The apps can be found on both the Google Play Store and the Apple App Store. Three apps are available:
- LIC Client
- LIC Direct Pay
- My LIC
If you select the Customer Portal option, you will be able to make your payment by logging into your account. You must first register with the portal if you have not already done so. Click 'Sign up' to begin the registration process. You'll have to fill in some mandatory information, such as:
- The policy number is
- The amount of the premium (excluding taxes)
- Mobile phone number
- Email address is required.
You can log in to your account and make the payment after registering on the LIC website. However, keep in mind that you must enter your information in order to log in to your account. After you've logged in, go to 'Online Payments'. You will be taken directly to the premium payment portal.
In order to assist clients in paying their policy premiums online, LIC of India has built its own Online Payment Gateway. Many of the features that were previously exclusively available in a branch office are now available online. In addition, the payment gateway allows registered clients to pay renewal premiums in real time through the portal. There are a few things to keep in mind if you want to use the Online Payment Gateway.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.