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Here's How To Pay Your LIC Premium Online!

Looking to pay your LIC premium online? Here are some ways you can! 
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Published -07 Feb 2022, 17:55 ISTUpdated -07 Feb 2022, 18:03 IST
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Insurance premiums have dates to be paid at and due to the COVID-19 pandemic, not everybody has the liberty to visit the bank. 

With major restricted actions taking place all around the world, working out online has been the new common. 

With your LIC premium, it’s the same thing. Looking to pay your LIC premium online? Here are some ways you easily can with less mess and quick efficiency! 

To pay premiums through the insurer's website, visit www.licindia.in and click on 'Pay Premium online' from the 'Online Services portal'. Here you will get two options: a) Pay Direct (Without login) and b) Through the customer portal.

Pay Direct (Without Logging In) 

This is an option for those who do not want to register with the portal. Through this option, you can make three types of payments - a) Advance Premium Payment, b) Loan repayment and c) Loan interest repayment.

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Step 1: Select the 'Advance Premium Payment' option for making a payment

Step 2: A pop-up will appear on your computer screen illustrating the premium payment process and asking for customer consent. Click on 'proceed' to give your consent.

Step 3: You will be required to enter details such as policy number, installment premium (excluding taxes), and so on. While entering the details, ensure that you have mentioned it correctly and timely, or else the session will expire and you will have to start the process all over again.

Step 4: Select 'I Agree, and click on submit.

As per the LIC portal, Online premium payment should be made by the policyholder himself. No third-party payment should be made using this mode of payment.

Step 5: The next step will show you the details of the policy for which the premium is being paid. Click on 'Check & Pay' to make the payments.

Step 6: The next step will ask you to make the payment. Choose the option with which you wish to make the payment.

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Through Customer Portal

If you have already registered yourself with the portal, then you can log in to your account to make the payment, or else you need to register yourself first.

To register yourself, click on 'Sign up'. You will be required to enter mandatory details such as policy number, premium amount (excluding taxes), date of birth, mobile number, and email address.

Once you have registered yourself on the LIC website, log in to your account to make the payment.

Step 1: Log in to your account by entering your details.

Step 2: Once logged in, click on 'Online Payments'. It will take you to the premium payment portal.

Step 3: Select the policies for which you wish to make payments and click on 'Check & Pay'.

Step 4: The portal will ask you to confirm the details such as mobile number, email id, and premium amount once again. Click on 'Check & Pay' after confirming the details.

Step 5: Choose the payment gateway to complete your transactions i.e. credit card, Net-banking, debit card, UPI, etc.

Important Points To Note While Making Payments

1. Provide correct and valid mobile number and email address.

2. The receipt will be mailed to your email address.

3. Online premium payment should be made by the policyholder himself. No third-party payment should be used.

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4. If the premium amount is debited from your bank account but the error page is displayed, a receipt will be sent to your email address in three working days after receiving the confirmation from your bank. You can report such an occurrence to bo_eps1@licindia.com.

5. If Re-trying: First check whether your bank account/card is already debited/charged with the amount of earlier transaction. If debited/charged, do not pay again. Wait for the insurer to mail you the receipt within three days.

6. The online portal will accept the cards issued by domestic banks. International bank cards will not be accepted.

Read More- How To Withdraw Money From Your EPF Account Online?

By downloading the App

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A policyholder also has an option to pay his policy premium by downloading LIC's app on his phone. There are three apps available on the Google Play Store and Apple's App Store - LIC Customer, LIC Pay Direct, and My LIC.

LIC Customer app:

By using this app, one can make payments either using the pay direct option or by registering. The process to make payments is the same as that on the website. Apart from making payments, one can also avail of other services such as LIC office locator, premium calculator, etc.

Did our article help you? Connect with us over Instagram and drop us a comment. Stay tuned to HerZindagi for more tips and tricks! 

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