How To Generate LIC Premium Paid Statement Online?

The following steps will guide you on how to generate your LIC premium payment statement online:

1. Visit the LIC Customer Portal

   To start with LIC online premium payment, you need to access the customer portal. You can do this by visiting the official Life Insurance Corporation website.

2. Register or Log In

   If you are already a registered user of the LIC customer portal, you can skip this step and proceed to step 3. If not, you'll need to create an account by clicking on the 'New User' or 'Register' option. You will be required to provide your policy details and personal information to complete the registration process. Once you've registered, log in using your credentials.

3. Navigate to Policy Tools

   After logging in, you will find various options and services on the portal. Look for a section called 'Policy Status.'

4. Select Premium Paid Statement

   Under the 'Policy Status' section, you will find an option for 'Premium Paid Statement'. Click on this option to proceed.

5. Provide Policy Details

   You will be prompted to enter specific policy details to generate your LIC premium payment statement. This typically includes your policy number, instalment premium, and premium paying frequency. Double-check the information you enter to ensure accuracy.

6. Generate Statement

   After verification, you can generate your LIC premium paid statement. The portal will display your statement on the screen. Review it carefully to confirm that all the premium payments are accurately recorded.

7. Download and Print

   It's advisable to download and print a physical copy of your premium-paid statement. The document is generally available in PDF format, which makes it easy to save and print for your records.

How To Generate LIC Premium Paid Statement Offline?

If you cannot access the internet or generate your LIC premium paid statement online, you can visit your nearest branch office and request a copy of your statement. The branch staff will be able to generate the statement for you and provide you with a hard copy.

Tips for generating LIC premium paid statement

• Keep Policy Details Handy: Make your policy details available before starting the process. This includes your policy number, premium amount, and premium payment frequency. Having this information at hand will speed up the process.

• Use a Secure Internet Connection: Ensure you have a secure and stable Internet connection while accessing the customer portal. This minimizes the chances of errors or disruptions during the process.

• Verify Information: Double-check the policy details you enter to avoid any discrepancies in your premium paid statement. Accuracy is essential, especially when using this document for income tax purposes.

• Save Regularly: When generating your LIC online payment statement, save the document regularly. This can be particularly helpful if you encounter any technical issues or disruptions.

Why Is It Important To Generate LIC Premium Paid Statement?

There are several reasons for generating an LIC premium payment statement:

• To claim income tax benefits: LIC policyholders can claim income tax deductions on their premium payments under Section 80C of the Income Tax Act. To claim this deduction, policyholders need to submit their LIC premium payment statement to their employer or income tax filing consultant.

• To track premium payments: It is a good practice to track your LIC premium payments to ensure that you make them on time and that your policy is in force. An LIC online payment statement will give you a complete overview of all your premium payments, including the date of payment, mode of payment, and amount paid.

• To get a loan against your LIC policy: If policyholders need financial assistance, they can get a loan against their LIC policy. To avail of this loan, policyholders need to submit their LIC premium-paid statement to the bank or financial institution.

• To settle claims: LIC will require policyholders to submit their LIC premium payment online statement in case of a claim. The statement will help the company verify that the policyholder has made their premium payments on time and that the policy is in force.

Wrapping It Up:

In today's digital age, accessing and generating your LIC online payment statement has become very convenient. Following the above-mentioned steps, you can easily obtain an LIC premium payment receipt, which will be required for various purposes, including income tax declarations, policy renewals, and financial planning. Remember to keep your policy details secure and accurate to ensure a smooth and hassle-free experience. 

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