How To Pay LIC Premium Through Mobile Apps? Google Pay, PhonePE, Paytm

Published: Friday, April 9, 2021, 9:49 [IST]

The Life Insurance Corporation (LIC) was founded in 1956 under the LIC Act and remains India's most trusted brand and largest investor. Because LIC is controlled and owned by the Indian government, it has the financial resources to pay out claims of any size. LIC offers an unrivalled selection and combination of products that are tailored to meet customers' financial objectives while also providing excellent returns. LIC has navigated the market's ups and downs over the years, constantly reinventing its products to meet the ever-changing needs and preferences of its customers. The majority of Indians have at least one life insurance policy. Customers of the Life Insurance Corporation of India (LIC) can pay their premiums online by visiting the website without logging in or by using the customer portal. Many banks allow customers to pay premiums using their net banking accounts. Here is a list of mobile apps that allow you to pay your premium quickly and easily. LIC premiums can be paid in a variety of ways.

LIC has partnered with popular apps like Google Pay, PhonePe, and Paytm to make premium payment smoother for customers. To make a premium payment, LIC customers can also use the LIC Direct App. Let's look at how we can easily make LIC premium using mobile apps that you already have on your phone.

How to pay LIC Premium Through Google Pay?

Google Pay, also known as Tez App, is a Google UPI payment service app that has become very popular in India for quick transactions. Here are simple steps to follow to make payment through your mobile:
Step 1: Download Google Pay
Step 2: Register and Login using credentials
Once your account is activated
Step 3: Click on New Payment
Step 4: Click Bill Payment
Step 5: Click on LIC option( If it is not visible in the list, type LIC in Search option)
A window saying No Accounts Linked will open. Now link your LIC account
Step 6: Click Get Started
Step 7: Enter your Policy Number, Email Id, and Account Name
Step 8: Click on Link Account
Once your account is linked.
Step 9: Click Bill Details
Step 10: Click Pay Bill, to make premium payments
Your policy information is displayed, including your name, policy number, any late fees, and the total premium due.
Step 11Select Account
Step 12Click on Proceed to Pay.
Step 13:Enter UPI PIN to complete the payment transaction.

How to Pay LIC Premiums Through PhonePe App?

Step 1: Download and install PhonePe App from Google Store

Step 2: Sign in to PhonePe and confirm your mobile no and activate your account.
Step 3: Click on Recharge and Pay Bills.
Step 4: Click on Insurance Premium.
Search for Life Insurance Corporation (LIC) in the list of Insurance Companies
Step 5: Choose the LIC option
Step 6: Enter your Policy Number and Email Id and click confirm
Your policy information is displayed, including your name, policy number, any late fees, and the total premium due.
Step 7: Select the Payment options (BHIM UPI, Debit Card, or Credit Card)
Step 8: Enter Card details and Pay and enter OTP
Step 9: Click Proceed

Payment will be deducted from your bank account, and you will be notified by SMS. The Policy Payment Receipt will be emailed to the email address used to pay the Premium.

How to Pay LIC Premium Through Paytm?

Step 1: Download the Paytm app
Step 2: Create your account
Step 3: Click on the LIC of India
Step 4: Enter the policy number and other required details
Step 5: Click on proceed for the payment
Step 6: Choose payment method
Step 7: Complete the payment

LIC Direct App

A policyholder can pay his or her policy premium without registering, as the name implies. The app can also be used to download transaction statements.

Story first published: Friday, April 9, 2021, 9:49 [IST]