LIC Online Payment Via HDFC Bank

If you have a LIC policy and are an HDFC account holder, online premium payment for all policies becomes easy. HDFC offers a wide range of options by which you can easily make your insurance payments. Not only this, you can also enjoy several benefits like earning rewards, cashback, and alerts for LIC premium due dates through HDFC.

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Let us explore the process of online payment through HDFC bank.

LIC Premium Payment Through HDFC

Let us now see how to pay insurance premiums online using HDFC:

Visit the official site: The first step is to visit HDFC's official website and select "insurance premium payment" option. 

Selecting your preferred payment mode: Upon entering the premium payment page, you will see several banking options through which you can make the payment. 

The following options are available: 

  • Net banking: To pay your LIC premium through HDFC Net banking in a faster way, follow these steps:

    • Register yourself for the HDFC net banking facility.

    • After registering, log in to your account using the credentials.

    • Choose the bill payment option.

    • Select LIC from among the several options appearing.

    • The due amount and date will be displayed. Verify your details before approving the payment.

    • Follow through the process to complete your LIC premium payment procedure.

  • Credit cards: You can pay the LIC premium using HDFC VISA, Mastercard, Maestro, and international credit cards. HDFC credit card offers quick and easy access to online payments. It is commonly used due to its high flexibility and benefits such as:

    • Receiving alerts well in time before the due date

    • Availing standing instructions facility on the credit card 

    • Receiving cashback for the first 6 months of premium payment

  • Phone Banking – LIC premium can also be paid using HDFC phone banking. The bank has regular offers and discounts, especially for LIC payments. You can make timely payments to receive different offers and cashbacks.

Irrespective of what option you choose for making the payment, entering the correct policy number, date of birth, policy details, and credentials is crucial. Enter the mobile number and email ID that is linked to your HDFC bank. 

Make sure the details entered are correct that are also displayed on the banking portal to complete the transaction. Providing the necessary details ensures correct premium payment and receipt generation that you might require for future reference. 

Other Methods of Paying LIC Premium Through HDFC

LIC insurance premium can also be paid in the following ways through HDFC bank:

  1. SmartPay

    This option is available to HDFC bank credit card users only. You can avail of this option either by registering at the bank's branch or choosing the online option. Choose the smart pay option from the dropdown menu on the insurance premium payment page. Register with SmartPay to receive alerts and regular reminders for upcoming payments. It provides a seamless experience for paying insurance bills.

  2. BillDesk Bill Pay

    You can use this portal to pay your LIC premium online through HDFC. Billdesk is an online payment gateway in India. Customers can access the portal on HDFC bank's website and pay immediately with and without registration. It is a fast and secure way of paying LIC insurance premiums using an HDFC credit card.

  3. Register & Pay

    This requires you to make payments after registering with the HDFC bank Credit card. It allows you to make automatic payments by choosing the autopay option. In addition, it ensures timely payments of the premium through your card. There is a small transaction fee of Rs 10 for using this option.

Points to Note

There are some essential points to keep in mind while paying LIC premiums online. These are:

  • You can avail of this facility only if you are an HDFC account holder. 

  • To start paying your LIC premium through HDFC, you need to register yourself. For this, you have to fill in a form providing all the necessary details and submit it to any of the HDFC authorized branches. The bank intimates through SMS or email upon successful registration.

  • You can pay premiums for as many as 5 LIC policies through HDFC. Ensure providing correct details of all the policies in the form.

  • You will receive regular payment receipts from HDFC after each successful premium payment. This will also reflect in your bank passbook.

In Conclusion

With multiple banks providing insurance services to their customers, the demand for insurance is also increasing. LIC offers various methods through which customers can buy policies online and pay their premiums. It has authorized banks like HDFC to improve the payment process for its customers. 

All online processes are hassle-free and quick. However, you can contact the bank’s customer care in case of any inconvenience. Make sure to set alerts for timely payments and reduce the chances of attracting a late fee.

FAQ's

  • What is the eligibility to avail the facility of LIC online payments?

    This service is exclusive for HDFC account holders and policies issued by LIC branches across India.
  • Is life insurance the only insurance available online?

    No, the other types of insurance include term insurance, savings, retirement, health, and investment plans.
  • Will the customer get a receipt from the bank after paying the LIC premium online?

    The LIC premium payment made through the bank will automatically generate the receipt, which will be shared by HDFC. The payment will also be recorded in the bank's account statement.
  • Can the LIC premium be paid using mobile banking?

    Yes, you can pay the premium through mobile banking. However, it requires you to register before making the payment.
  • How do I know the application status?

    You can log in to the HDFC customer portal to know the status of the application.

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