Life Insurance Corporation of India, a renowned name in the field of insurance for decades, has created a mark for itself like no other insurance company to date. LIC specializes in serving different insurance plans to its customers depending on their needs and requirements such as investment plans, saving plans, health plans, child plans, and many more.
Read moreLife Insurance Corporation of India, a renowned name in the field of insurance for decades, has created a mark for itself like no other insurance company to date. LIC specializes in serving different insurance plans to its customers depending on their needs and requirements such as investment plans, saving plans, health plans, child plans, and many more.
Read moreWith years of experience and delivering policies with top-notch quality and suitability of the buyers, Life Insurance Corporation of India has created trust and reliability amongst the insurers in India.
We are past the days of long queues outside the LIC’s branch office just to pay your premium dues. As the world is moving towards digitalization rapidly, so is the Life Insurance Corporation of India.
Now premium payments are just a click away. Here, you will understand the complete online premium paying process of LIC.
Sitting at your home and depositing your LIC premium with just a few simple steps is something people in the 80s would never imagine. Even though both online and offline processes of LIC premium payment are available in the market, individuals are getting attracted to the simple and hassle-free online process more.
Let us discuss the LIC of India’s online premium payment method in detail. However, before the payment process, here are the steps to be followed by first time users for registration:
After successful registration, you may need to know the LIC Premium online payment facilities offered.
To pay your premiums online through the e-Service portal, you can choose from:
LIC Website |
Authorized Banks |
Franchises |
Merchant |
Net banking |
Axis Bank |
AP Online |
Premium point |
Debit Card |
Corporation Bank |
MP Online |
Life – Plus (SBA) |
Credit Card |
|
Suvidha Infoserve |
Retired LIC Employee Collection |
UPI |
|
Easy Bill Pay |
|
BHIM |
|
|
|
For Registered Users
Under NACH, important documents are submitted in the respective branch office of LIC for payment of premium.
Automated Teller Machine or their respective bank branch can be used by the following banks for making the LIC premium payment offline:
Here are some points to remember while making LIC premium payment offline through banks:
Accepted |
Not Accepted |
Premium can be paid of active LIC policies only |
Salary Savings Scheme (SSS) policies are not entertained |
30 days advance premiums can be paid in case of a regular life insurance policy |
15 days advance premium in case of term insurance policies |
Signed receipt from the bank after payment of premium |
ULIP and Health policy premium payments are not entertained |
Premium payment can be made through cheque or demand draft |
Premium payment for the upcoming fiscal year cannot be made |
The premium is the amount paid by the policyholder to the insurer in periodical installments, in exchange the policyholder will get insurance coverage. It can be paid monthly, quarterly, semi-quarterly, yearly (regular premium), or maybe just once at the very beginning while purchasing the policy (single premium).
With advancements in technology every passing day, online methods of payment have become more popular and stress-free.
It is important to grow with technology.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
++Returns are 10 years returns of Nifty 100 Index benchmark
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
10 Dec 2024
4 min read
Prime Minister Narendra Modi has launched the Bima Sakhi Yojana10 Dec 2024
3 min read
The Bima Sakhi Yojana, launched by Prime Minister Narendra Modi20 Nov 2024
3 min read
LIC Yuva Term Plan Calculator is an online tool designed to15 Oct 2024
2 min read
The LIC Index Plus plan is a ULIP offered by the Life Insurance15 Oct 2024
3 min read
The LIC Index Plus combines the benefits of insurance and3 min read
The LIC Online Payment by Policybazaar enables policyholders to pay their insurance premiums online at their3 min read
The surrender value of an LIC policy is the amount given to the policyholder if they cancel their policy before4 min read
The LIC maturity value is the amount payable to the policyholders at the end of their policy term. To calculateInsurance
Calculators
Policybazaar Insurance Brokers Private Limited CIN: U74999HR2014PTC053454 Registered Office - Plot No.119, Sector - 44, Gurugram - 122001, Haryana Tel no. : 0124-4218302 Email ID: enquiry@policybazaar.com
Policybazaar is registered as a Composite Broker | Registration No. 742, Registration Code No. IRDA/ DB 797/ 19, Valid till 09/06/2027, License category- Composite Broker
Visitors are hereby informed that their information submitted on the website may be shared with insurers.Product information is authentic and solely based on the information received from the insurers.
© Copyright 2008-2024 policybazaar.com. All Rights Reserved.