Life Insurance Corporation, also known as LIC, is one of India's most prominent & oldest life insurance companies.
With the world of banking and insurance having shifted online, more and more people are now opting for convenience of making payment online. With time and innovation, these channels of making payment have become more and more sophisticated. Here are a few simple ways in which you can make your LIC premium payment.
1) Premium payment through LIC website
To make payments for their plans and policies in a secure and convenient manner, LIC has set up a special portal known as 'Online Payment Gateway' which is an on-demand premium collection service. Through this portal, customers can easily make their policy payments in real-time and in a secure manner via net banking.
2) Through LIC's website:
To pay premium through the insurer's website, visit www.licindia.in and click on 'pay premium online' from the 'online services portal'. Here there will be two options-
a) Pay direct
b) Through customer portal
Pay Direct (without login)-
This is an option for those who do not want to register with the portal. Through this option you can make 3 types of payments-
a) Premium payment
b) Loan repayment
c) Loan interest repayment
1. Select the premium payment option for making a payment.
2. A pop-up will appear, click ok to proceed.
3. Enter details such as policy number, installment premium and so on.
4. Enter the captcha code, select 'I agree' and click on submit.
5. Validate the details mentioned by you in the above step and click on 'submit'.
6. The next step will show you the no. of policies for which the premium is being paid.
7. Select the payment option among the available alternatives.
8. Choose the option which you wish to make the payment.
3) Through Customer Portal
If you have already registered yourself, then you can login to your account to make the payment or else you need to register yourself first.
Once you have registered yourself, then follow the following steps.
1. Log in to your account.
2. Once logged in, click on 'online payments'.
3. Select the policies for which you wish to make payments and click on 'check and pay'.
4. Confirm your necessary details.
5. Choose the payment gateway to complete your transaction.
While making the payment, we shall provide a valid e-mail id and phone number, no third party shall make the payment on our behalf, only the cards that are issued by the domestic banks will be accepted.
We can also make the payment by downloading LIC's official app from the google play store. Apart from making payments, one can also avail other services such as LIC office locator, premium calculator etc. One can also download transactions statement by using the app.
You can also make your LIC payments through cheques.