Know LIC premium Payment process online
Life Insurance Corporation of India popularly known as LIC is the largest public sector insurance company in India. The life insurance corporation of India deals majorly with the life insurance products. The LIC offers wide variety of the life insurance plans to Indian citizens. Some of them are Insurance plans, Pension plans, unit plans, special plans, health plans and more.
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Being the great player in the Indian insurance sector Life insurance Corporation of India has grabbed major share in Indian Insurance market in the area of life insurance. Since 1956. Life insurance Corporation of India is playing very important role in the life of every Indian. And it is the most popular and trusted insurance provider in the nation.
Online Premium Payment
Being the Pioneer in the Life insurance LIC is offering various services to its customers to satisfy the customers in line with the increasing competition and technology advancement.
Due to various reforms in the Indian banking sector and also due to introduction of digital India initiatives Indians are preferring online payment methods over conventional offline and time consuming methods. With the changing mindset of the Customers Life Insurance Corporation of India has given safe and highly secure online platforms to its customers to pay their insurance premium online.
Now all LIC customers have an option to pay their Life Insurance premium online with few clicks without visiting to any LIC centers.
This article will explain the complete procedure and all acceptable methods in which LIC Customer can pay their premium online.
Accepted methods of payment of premium online through LIC Official Website
Net Banking
Debit card
Credit card
E Wallets
UPI
Procedure of LIC Premium payment online
Visit LIC website by Clicking on Pay LIC Premium Online Button
Click on “Pay Premium Online”
Here you have two options (i) Pay Direct (without login) (ii) Through customer portal
(i) Pay direct without Login
- To Pay without login click on “Pay Direct without login” Option
- Select type of premium ( for premium payment select Renewal premium)
- Renewal premium
- Advance premium payment
- Loan repayment
- Loan interest payment
Here you have three steps
Step 01: Customer validation
- To validate the customer details click on “Proceed”
- Enter Your Policy number and Policy premium(without tax)
- Enter your date of birth, mobile number and mail id
- Click on Agree and Submit
Step 02: Policy particulars
- Your policy details will be fetched from the Database
- Check the correctness of the policy amount and details
- Click on “Proceed”
- Click on Check and Pay
Step 03: Payment
- Select your mode of payment
- Enter the details of Debit card/ Credit card/ Internet Banking etc
- Enter the OTP received
- Make the Payment
- Print the payment receipt
- Pay through customer portal
(ii) Through customer portal
Step 01: Account creation and Sign in
- Click on “through customer portal”
- If you are visiting first time and don’t have login credentials. click on “Signup” and Enter Policy number, Premium amount Mail id, mobile number, date of birth and other particulars & select and the gender
- Click on “proceed”
- Enter the OTP received
- Create the login password (Your Account will be created and it is one time process)
- If You have Already created user id Enter User Id, password and date of birth
- Click on “Sign in”
Step 02: Policy Particulars
-
- Here you can add your LIC policies, your spouse policies and children policies details
- Click on “Online payment” All your policies for which premium is due will be visible.
- Click on the policy for which you have to pay premium online (Your policy premium and other details will be automatically fetched)
- Verify the details &Click on “check and pay”
- Again Click on “Check & Pay”
Step 03: Payment
- Select your mode of payment
- Enter the details of Debit card/ Credit card/ Internet Banking etc
- Enter the OTP received
- Make the Payment
- Print the payment Receipt
Your online premium Payment will be successful.
Payment of premium through customer portal is suggestible because once you create the account you need not to enter policy related information every time. Just you can access your account through Mobile number and password anytime and anywhere.
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