LIC Payment Online: Understand The Process!

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 more

LIC Payment Online: Understand The Process!

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 more
LIC Plans-
Online Payment Service for all LIC customers
Multiple payment modes for the online payment
Hassle-free policy premium payment process
Instant payment acknowledgment
Lets Get LIC Payment Done
Pay your insurance premium online
Continue
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on "Continue" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company
Get Updates on WhatsApp
Scan the QR Code and be directed to our in-app Policy Renewal page
Scan the QR Code
Or Get the Payment Link on Mobile
+91
Send Link
Please wait. We Are Processing..
Use our app to get started with your policy renewal
Please wait. We Are Processing..
Great!
A link has been sent on SMS and Whatsapp to make instant LIC premium payment through Policybazaar mobile app.

With 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.

LIC of India Online Premium Payment

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:

  • Step 1: Visit LIC’s official website www.lic.in
  • Step 2: Click on the Customer Portal tab
  • Step 3: Click on the existing user if already registered and enter your credentials
  • Step 4: If a new user, click on the new user tab
  • Step 5: In the next screen, you will be required to fill in the following details
    • Policy number
    • Date of Birth
    • Email address
    • PAN Card number
    • Gender
    • Mobile number
    • Passport number
  • Step 6: Click on register
  • Step 7: After successfully filling in the details, you will be asked to sign up
  • Step 8: To sign up, you have to choose
    • Suitable user ID
    • Password
    • Enter your date of birth
  • Step 9: You have been successfully signed in
  • Step 10: In the next screen, select the self-policies tab
  • Step 11: You can now view your existing policies
  • Step 12: If you want to add another policy apart from the existing policies of yourself, your children, or your spouse, all you have to do is
    • Click on add policy
    • Enter your relationship with the policyholder
    • Enter policy number
    • Submit the details
    • This policy will now be reflected on your LIC e-Service page

Online Payment Facilities

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:

  • Mode of payment
    • Net Banking
    • Debit Card
    • Credit Card
    • WALLET
    • UPI
  • Renewal premium can be made for all active policies, excluding Salary Saving Scheme Policies. Payment of premium can be made one month before the due date till the policy is in force.
  • Under VPBY and PMVVY plan policies, loan interest cannot be paid
  • All RBI approved Credit cards and Debit cards can be used for payments
  1. LIC Premium Payment Channels Online

    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

     

     

     

  2. LIC Premium Payment Channels Offline

    • NACH
    • Bill Pay
    • ATM


LIC Online Payment

For Registered Users

  • Step 1: Visit the Life Insurance Corporation of India’s website
  • Step 2: Select from the two options under online payment:
    • Pay Direct (without login)
    • Through customer portal
  • Step 3: If chosen the Pay Direct option
    • Directly select payment type (no need for login credentials)
  • Step 4: If chosen the Through customer portal option
    • Log in with the login ID and password
    • Click on sign in after filling in the necessary information
  • Step 5: Once successfully logged in, the policy number and premium amount payable need to be provided.
  • Step 6: After submitting the details, you can now view all your policies
  • Step 7: Select the one you want to pay the premium for
  • Step 8: Click on submit
  • Step 9: Payment gateway will be the next page you will be redirected to
  • Step 10: Select the suitable payment option and make the necessary payment and your premium is paid in these simple and easy steps

LIC Offline Payment

  1. NACH (National Automated Clearing House)

    Under NACH, important documents are submitted in the respective branch office of LIC for payment of premium.

  2. ATMs and Banks

    Automated Teller Machine or their respective bank branch can be used by the following banks for making the LIC premium payment offline:

    • Axis Bank
    • Corporation Bank

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

Sum it up!

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.

Simplify Your Life
By paying your LIC premiums online with Policybazaar in a few easy steps!
LIC of India
Need guidance? Ask here
LIC Calculator
  • One time
  • Monthly
/ Year
Sensex has given 10% return from 2010 - 2020
You invest
You get
View plans

LIC of India articles

Recent Articles
Popular Articles
LIC Amritbaal

22 Feb 2024

LIC Amritbaal is a newly launched plan specially designed to
Read more
Benefits of LIC Jeevan Amar

13 Feb 2024

LIC Jeevan Amar is a term insurance policy offered by the LIC of
Read more
LIC Jeevan Azad Calculator

12 Feb 2024

LIC Jeevan Azad Calculator is an online tool that allows
Read more
LIC Index Plus

09 Feb 2024

LIC Index Plus is a new unit-linked life insurance plan
Read more
LIC Jeevan Dhara II-872

30 Jan 2024

LIC's Jeevan Dhara - II is an individual savings deferred
Read more
10 Best LIC Plans to Invest in 2024
Ever since its inception in 1956, LIC has been maintaining its stronghold in the Life Insurance domain with its
Read more
Surrendering LIC Policy Before Maturity Time: Your Guide!
The Life Insurance Corporation of India is one of the most prominent insurance companies. It has an unparalleled
Read more
How to Check the Maturity Amount of LIC Policies?
The LIC maturity value is the amount payable to the policyholder upon the completion of the policy term. LIC
Read more

top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL