One of its significant advancements in customer convenience is the introduction of LIC e-Services, enabling users to manage their policies effortlessly from home.

What is an LIC Premium?

When a policyholder purchases an LIC Policy, they are required to pay a specific amount known as the premium. This amount can be paid at different intervals—monthly, quarterly, semi-annually, annually, or even as a one-time payment (single premium). The premium ensures continued risk coverage under the policy. The proof of a paid premium is called an LIC premium receipt.

LIC e-Services: Features and Benefits

LIC e-Services allow policyholders to access various features without visiting branch offices. Some of these features include:

• Checking policy status and schedules.

• Paying premiums online.

• Viewing and downloading premium payment receipts.

• Generating policy revival quotes.

• Accessing loan and claim details.

• Enrolling policies and checking claim history.

• Viewing policy proposal images and payment dates to prevent lapses.

With LIC e-Services, policyholders can manage their accounts securely and conveniently online.

How to Pay LIC Premiums Online?

• Follow these steps to pay your LIC premiums online:

• Step 1: Enroll Your Policy:
  Log in to LIC’s portal and enroll your policy under the "Pay Premium Online" section.

• Step 2: Select Policy:
  Choose the policy for which the premium is due.

• Step 3: Choose Payment Mode:
  Select your preferred bank for payment. Ensure you have net banking enabled for the selected bank.

• Step 4: Log In to Your Bank Account:
  Use your net banking credentials to log in and confirm the transaction.

• Step 5: Verify Premium Amount:
  Review the premium amount displayed on the screen and confirm the payment.

• Step 6: Receive e-Receipt:
  After a successful transaction, an e-receipt with a digital signature is sent to your registered email address.

What is an LIC Premium Receipt?

An LIC premium receipt serves as proof of payment the policyholder makes against their policy. The receipt helps policyholders keep track of their payments, avoid policy lapses, and manage their financial records efficiently.

With the online availability of LIC premium receipts, users no longer need to visit branch offices or wait in queues. The process is quick, secure, and entirely free of hidden charges.

Benefits of LIC Premium Receipts

Tracking LIC premium receipts offers key benefits: easy monitoring of payments, timely reminders to avoid penalties, and the convenience of downloading or printing receipts online, all without the need for office visits. Apart from these there are other benefits of downloading LIC premium receipts:

• Payment Tracking:
  Policyholders can track premiums already paid and those due for payment.

• Avoid Penalties:
  Timely reminders and receipts help avoid late fees and prevent policy lapses.

• Convenience:
  Receipts are easily downloadable and printable, eliminating the need for physical visits to LIC offices.

LIC Online Payment Channels

LIC offers several online payment channels for added convenience:

• Debit/Credit Card

• Net Banking

• ATM Payment

• Bill Junction and Bill Desk

• SMS Payment Portal

• LIC Website Portal

• AP ONLINE Payment

• MP ONLINE Payment

• ECS Facility

• Bank EBPP services (Citibank, HDFC Bank, Axis Bank, Federal Bank, etc.)

Methods to Pay LIC Premium

There are several convenient methods for making LIC premium payments, each offering flexibility to suit different preferences. Here's a breakdown of the available options:

Payment at Cash Counter

You can visit the nearest LIC branch and make your LIC premium payment directly at the cash counter. After payment, you will receive an LIC payment receipt, which can be used for future reference. To download the LIC premium receipt later, you can access it through the LIC portal.

Payment Through Alternate Channels

LIC offers multiple alternate payment channels, such as Paytm and mobile wallets. After completing the payment, you can download the LIC payment receipt from the platform used. This is an easy way to manage your LIC premium receipt download without visiting a branch.

LIC Portal

The official LIC portal provides a seamless way to make online payments. Simply log in, enter your policy details, and make the payment. Once paid, you can instantly download LIC premium receipt in PDF format, allowing you to keep a digital copy of your LIC premium payment receipt for your records.

Pay Premium through LIC Credit Card

LIC allows policyholders to pay their premiums using an LIC credit card for added convenience. This method ensures timely payments and automatically provides you with a LIC payment receipt download. The receipt can be downloaded as a LIC receipt download PDF directly from the portal.

How to Download LIC Premium Receipt Online

For non-registered customers, the first step is to create an account by providing details such as name, date of birth, registered email, mobile number, policy number, and installment premium.

Once registered, follow these steps to download the premium receipt:

• Step 1: Visit the LIC Website:
  Navigate to the official LIC website and click on the "Online Services" option.

• Step 2: Login as a Registered User:
  Enter your credentials to access the Welcome Page.

• Step 3: Choose Receipt Type:
  Select either:

  • Consolidated Premium Paid Statement: Provides a statement of all premiums paid for multiple policies.

  • Individual Policy Premium Paid Statement: Provides a statement for a specific policy.

• Step 4: Select Policy Details:
  Specify the financial year and policy number for individual receipts.

• Step 5: Download or Print:
  Choose to download the receipt in PDF format or print it directly.

LIC Receipt Download PDF by Policy Number

Downloading your LIC premium receipt in PDF format using your policy number is a straightforward process. Follow these steps to access and save your receipt:

• Step 1: Visit the Official LIC Website

• Step 2: Log In as a Registered User by entering your user credentials, including your user ID and password. If you are not registered, create an account by providing your policy number, date of birth, registered mobile number, and email ID.

• Step 3: Once logged in, locate the "Online Services" tab and select the "Policy Premium Paid Statement" option.

• Step 4: Provide your specific policy number in the designated field to retrieve the receipt for that policy.

• Step 5: Choose the relevant financial year for which you want to download the premium receipt.

• Step 6: After verifying the details, click on the "Download Receipt" button so that the LIC receipt download pdf can be saved. You can also print the receipt directly from this page.

Why is LIC Premium Receipt Important?

Insurance is a cornerstone of financial security, making it crucial for policyholders to maintain accurate records of payments. LIC’s online premium receipt service ensures:

• Easy tracking of paid and pending premiums.

• Transparent and secure payment processes.

• Hassle-free management of policy documentation.

Wrapping It Up

The introduction of LIC e-Services has made managing insurance policies more convenient than ever. From paying premiums online to easily downloading premium receipts, LIC ensures a seamless experience for its policyholders. Following the above steps, you can efficiently track your premium payments, access receipts, and stay on top of your financial planning.

Keeping your LIC premium receipts handy helps you avoid policy lapses and provides proof of payment for tax purposes and financial record-keeping. 

LIC Resources

FAQs