No more standing in que or dropping check to make LIC premium payments. Life Insurance Corporation of India is one of the oldest insurance company in India and also the most trusted among investors.
LIC policies top even when it comes insurance claims. LIC offers a variety of polices catering to every individual and his needs be it for senior citizen, children.
Most of the Indians have one or the other LIC policies. Here are different ways to pay LIC premium:
LIC Mobile App
LIC policyholder can download LIC app to make payments through this app. There are different versions depending on the browser. One can also check plans, calculate premiums using this App.
To avail ECS facility, one needs to collect the ECS mandate form from any LIC office or any Bank and pay LIC premium via ECS regularly. By choosing this option, the amount will be deducted from the account as per the standing instruction decided while filling the ECS form.
As of now, only few banks including Corporation and Axis Bank customers can avail at their ATM's). There will be one time registration required.
Premium Point and Life Plus centers
There are few centers available for those who are not interested in making payments online. They can visit these centers and make payments through cash or cheque.
Individuals can make use of net banking. The online payment option is available only to registered customers who have enrolled their policies.
EBPP or BILL PAY
Not all banks offer this facility. Banks such as Corporation bank, ICICI Bank, Citi Bank, HDFC Bank, Axis Bank, Federal Bank offer this after individuals register for this facility online or even by filling a form in any bank or LIC office.
Senior Business Associate
Some of the senior development officers are allowed to collect the premium. The payments can be made through cash or cheque. However, outstation cheques are not allowed.
One can visit franchises such as AP Online, MP Online, Suvidha or CSCs and pay your premium easily. Payments will be collected only in cash mode. Premium will be collected only 30 days in advance before the due date and till the policy is in force, except for some term insurance policies