How to Pay Your Life Insurance Premiums Online?

Paying your life insurance premiums online is quick, secure, and convenient. Most insurers allow premium payments through their official website, mobile app, or authorized payment partners. To pay online, log in with your policy number or customer ID, choose the premium payment option, and complete the transaction using a debit card, credit card, net banking, UPI, or e-wallet. Always download or save the receipt as proof of payment. Online premium payment saves time and ensures your policy stays active, helping you avoid lapses and maintain uninterrupted life insurance coverage.

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What Is Online Premium Payment?

Online premium payment lets you pay the premiums of your life insurance digitally using your smartphone, laptop, or tablet. Whether it's your renewal premium or a top-up, online payment ensures you never miss a due date, safeguarding your financial protection plan.

Leading insurance companies now offer user-friendly platforms to make premium payments safe, fast, and accessible.

Online premium payment is available for all types of policies, including term insurance, endowment plans, ULIPs, and child plans

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 13/day⁺

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day⁺

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day⁺

How to Pay Your Premium Online?

Using the Insurer’s website

Most insurers allow you to pay your premium online through multiple options. Here's a simple step-by-step process:

Step 1: Visit your life insurance provider's official website.

Step 2: Enter Your Details, such as your Policy Number or Registered Mobile Number or Registered Email ID and Date of Birth

Step 3: Complete the captcha verification to proceed.

Step 4: Select Payment Method, such as Credit Card, Debit Card, Net Banking, UPI or Wallets (if available)

Step 5: Confirm your details and complete the payment securely.

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₹1 CRORE

Term Plan Starting @

Get an online discount of upto 15%^#

Compare 40+ plans from 15 Insurers

⁺Standard T&C Applied

What are the Benefits of Paying Your Premium Online?

Now that you understand what is life insurance premium and how to pay it online, let's take a closer look at the benefits of paying your life insurance premium online.

Convenience Anytime, Anywhere
You can pay your premiums 24/7, including weekends and holidays, from the comfort of your home. The online ICICI Prudential term insurance payment facility makes it easy to stay on top of your policy.
Save Time
The online premium payment process is quick and efficient, allowing you to complete your transaction in just a few minutes.
Multiple Payment Options
Choose from a range of secure payment methods such as Credit Card, Debit Card, Net Banking, or UPI, based on your convenience.
Auto-Debit Facility
Set up an auto-debit option while paying online to ensure you never miss a premium due date and keep your policy active.
No Hidden Charges
Make premium payments online without worrying about additional service fees or hidden costs.
Instant Premium Receipts
Receive and download your premium payment receipt instantly — a handy document for tax-saving and record-keeping purposes.

Quick Tips for Online Premium Payment

Always pay before 3:00 PM to get same-day premium receipts.
Enable auto-debit to avoid missing future payments.
Double-check your policy number and details before submitting the payment.
Save your payment receipt immediately for your records.

What Happens If You Miss a Premium Payment?

If you miss an ICICI Prudential term insurance payment, the insurer usually provides a grace period of up to 30 days. You can pay your pending premium without any late fees or penalties during this time. However, if you fail to pay even within the grace period, your policy may lapse, leading to the loss of life cover and other benefits. To avoid such risks, using online payment options or setting up auto-debit for timely premium payments is best.

Wrapping It Up:

Paying your life insurance premiums online is not just about convenience; it’s about staying in control of your financial security. With options like the ICICI Prudential term insurance payment facility, you can manage your premiums anytime, anywhere, and ensure your policy never lapses. From instant receipts to multiple payment modes and auto-debit features, online premium payment makes the entire process smooth and reliable. By staying consistent with your payments, you not only protect your coverage but also secure long-term peace of mind for your loved ones.

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FAQ's

Q: Can I use multiple credit cards to pay my premium?

Ans: Yes, you can split your outstanding balance across multiple credit cards if needed.
Q: Will I get tax benefits for online premium payments?

Ans: Yes! Premiums paid for life insurance policies are eligible for tax deductions under Sections 80C and 10(10D) of the Income Tax Act, 1961, subject to conditions.
Q: Is it safe to pay premiums online?

Ans: Absolutely! Insurers use secure encryption and two-factor authentication to protect your transactions.
Q. How to pay the insurance premium online?

Ans: You can pay your insurance premium online by visiting your insurer’s official website or mobile app. Log in to your account, select your policy, and choose the “Pay Premium” option. You can pay using credit/debit cards, net banking, UPI, or e-wallets. Many insurers also offer payment through third-party apps, payment banks, or auto-debit facilities.
Q. How to pay LIC premium online?

Ans: To pay your LIC premium online, visit the official website of LIC. Click ‘Pay Premium Online’ and choose whether to pay without login or through your LIC customer portal account. Enter your policy details, verify the premium due, and complete the payment using your preferred method, like UPI, net banking, debit/credit card, or wallets.
Q. How to check the LIC premium online?

Ans: You can check your LIC premium details by logging into the LIC customer portal. After signing in, go to the "Policy Status" section to view your active policies, premium due dates, amounts, and payment history. If you haven't registered yet, you must create an account using your policy details.
Q. How to download the LIC premium receipt online?

Ans: Log in to the LIC customer portal to download your LIC premium payment receipt online. Navigate to the "Policy Status" or "e-Services" section and select "Premium Paid Statement." Choose the relevant policy and financial year, then download or print your premium receipt.
Q. How can premiums for life insurance be paid?

Ans: Life insurance premiums can be paid through various methods, including online payment (via insurer websites/apps, UPI, cards, or net banking), auto-debit instructions from bank accounts, ECS (Electronic Clearing Service), offline payments at insurer branches, or authorized collection centers. Some insurers also offer mobile app reminders and standing instructions to make premium payments hassle-free.

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˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

Rs. 400/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 400/month (Rs.13/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 230 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 12/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 497/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 487/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 626/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 905/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,267/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.

+Rs. 447/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs.679/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 910/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,924month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

Women

+Rs. 400/month is Starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.

1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 years of age.

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale

Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, 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.

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