• LIC Online Payment

    Life Insurance
    • Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
    • Claim up to Rs. 1,50,000 deduction under section 80C**
    • Choose between annual and monthly premium payment options

    Life Insurance Corporation of India (LIC) is one of the most preferred life insurance providers in India. The company was nationalised in the year 1956 and has since then become a market leader in the life insurance domain. The insurer is renowned for their customer-centric initiatives and their varied product suite. LIC offers various types of insurance plans, including protection solutions, endowment plans, unit-linked insurance plans (ULIPs), health insurance plans, micro insurance plans, group insurance plans, etc., in order to meet the needs of their ever-growing customer base. The insurer also has a pan-India presence, with around 2,048 computerised branch offices spread across the country and a number of qualified insurance agents and financial advisors to aid their customers.

    Online Premium Payment Facility by LIC

    Traditionally, customers had to travel to the nearest branch office of the insurer to pay their premium amounts. However, with the digitisation of the finance and insurance industry, insurance providers have started to offer customers options to pay their premiums through secure online channels, in a hassle-free manner. LIC offers policyholders a range of different online channels through which they can pay their premium. As an LIC customer, you can choose to pay your insurance premium through their official website, certain authorised banks, merchants, and franchisees. Alternatively, customers can also choose to pay their premium at the nearest LIC branch office. In order to facilitate the payment of premiums, LIC offers customers the option to pay their premium through both online and offline channels. Read on to know more about the various modes through which you can pay your premium for your LIC policy.

    LIC Premium Payment Channels

    LIC Website Franchisees Authorised Banks Merchant
    • Net banking
    • Debit card
    • Credit card
    • AP Online
    • Suvidha Infoserve
    • MP Online
    • Easy Bill Pay
    • Corporation Bank Branches
    • Axis Bank Branches
    • Retired LIC Employee Collection
    • Premium Point (Empowered Agents)
    • Life – Plus (SBA)
    LIC Online Payment
    LIC Online Payment

    Online Premium Payment through the LIC Website

    In order to help policyholder make their premium payments in a timely and secure manner, LIC has created a payment portal called ‘Online Payment Gateway’, which is LIC’s very own digital premium collection service. Through this payment gateway, customers of LIC can make real-time premium payments in a safe and timely manner. Payments can be processed through one’s debit card, credit card, or through net banking. However, only customers who have registered themselves on LIC’s official website and have enrolled their policies can use this facility to pay their premiums. Certain important things that you should know about using LIC’s Online Payment Gateway to make your due premium payments are:

    • Customers can make premium payments only for those policies that are in-force and for policies for which the premiums are paid on an annual, bi-annual, quarterly, or monthly basis. For Salary Savings Scheme (SSS) policies, premium payment through LIC’s Online Payment Gateway is not allowed.
    • Customers or policyholders who live outside the country can also pay their premiums through the Online Payment Gateway via credit card, debit card, or net banking.
    • LIC’s Online Payment Gateway is a completely secure way of making premium payments, and no sensitive policy data is shared with other sources during the process. Also, the premium amount that is to be paid is encrypted.
    • LIC offers this service to customers absolutely free of charge. Thus, no additional fee is required to avail this service.
    • The payment gateway for payments made through credit card is IDBI. Whereas, the payment gateway for premium payments made via net banking or debit card is BillDesk
    • If you wish to pay your premium through net banking, you can log in to the official LIC website and check which banks are supported by the insurer for making digital premium payments.
    • After making the due premium payment, customers can view the receipt for the premium amount that they paid on the LIC portal. This receipt is also sent to the customer through email. Further, customers are also given the option to print out their receipts.
    • Premiums will have to be paid by the policyholder 30 days prior to the due date. For term insurance policies, customers can make an advance payment on their premium 15 days before the due date.
    • If the premium is paid after the due date, the insurer charges a penalty of 8%. The minimum penalty payable is Rs.5.
    • Customers cannot make premium payments for the upcoming fiscal year.

    Premium Payment through Authorized Banks

    In addition to giving customers the option of paying their premium through the LIC’s website, the insurer has also tied-up with leading banks in India, in an effort to provide additional premium payment channels to customers. Thus, LIC customers can also pay their premium through Corporation Bank and Axis Bank branches, as well. Listed below are a few points that you should know about paying your premium through this mode.

    • Customers can pay their premiums through any extension or branch cash counter of Corporation Bank or Axis Bank.
    • Customers can pay their premiums at authorised banks either by cash or by cheques that are drawn on the respective bank.
    • Policyholders can only pay premiums at authorised banks for those policies that are still in-force or active. Premiums for Salary Savings Scheme policies cannot be paid through this channel.
    • Premiums for regular life insurance policies can only be paid 30 days in advance. On the other hand, premium payments for term insurance plans can be done 15 days prior to the actual due date.
    • Customers cannot pay premiums for ULIPs and health insurance policies through this channel.
    • If the premium payment is made after the pre-defined due date, the insurer will levy a late payment charge of 8%. The minimum late payment fee is Rs.5.
    • Premiums for the upcoming financial year cannot be paid in the current fiscal year.
    • Upon receiving the due payment, the bank will provide you a signed receipt. For premium payments done through authorised banks, LIC will not issue a separate receipt.

    Premium Payment through Authorized Collection Centres or Franchisees

    The Life Insurance Corporation of India (LIC) has also tied-up with certain private and government-backed service providers and franchisees, to provide additional premium payment channel options to their customers. Customers can pay their premiums through franchisees such as AP Online (an official portal for the state government of Andhra Pradesh), Suvidha Infoserve (an organisation that provides bill payment facilities), MP Online (an official portal for the state government of Madhya Pradesh), and Easy Bill Limited (an alternate payment service that offers payment facility through neighbourhood stores). Certain key things that you should keep in mind when paying your premium through this channel are:

    • When making premium payments through authorised franchisees, the payment can only be done via cash.
    • Premiums payments can only be done for those insurance plans that are currently running or active, at the time of paying the due premium. Also, premiums for Salary Savings Scheme (SSS) policies can’t be paid through franchisees.
    • Customers can pay their premium through LIC-approved franchisees for free, without having to pay an additional fee or charge to use this service.
    • If you choose to pay the due premium through government-owned service providers, keep in mind that premium payments can only be done in that state.
    • If the policyholder pays the due premium post the due date, the insurer will collect a penalty of 8%, subject to a minimum of Rs.5.
    • At any time in the present financial year, policyholders cannot make premium payments for the upcoming year.
    • After the due premium is paid, the collection centre will provide you a receipt for the premium paid. LIC will not provide customers a separate receipt, in this case.
    • A list of all authorised collection centres can be found on the official LIC website.

    Premium Payment through Merchants and Agents

    LIC has also given authorisation to certain select agents and merchants to collect premiums from customers, on their behalf. The personnel that are authorised to collect premium amounts from customers include Senior Business Associates or Development Officers, agents at premium points, and retired LIC employees. Here’s what you should know about paying our premium to an LIC-authorised agent or merchant:

    • Customers can pay the due premiums for regular plans and ULIPs to authorised agents. However, agents will not collect premium payments for health insurance plans. The premium payment will be updated on a real-time basis.
    • Premiums that are paid to a Senior Business Associate will be processed through the LIC portal. The premium will be paid in real time, and the Senior Business Associate will issue the policyholder a receipt for the same.
    • Senior Business Associates (SBAs) can also issue status reports about the policy, surrender/loan/revival quotations, income tax certificates, and ULIP statements upon request, to the customer.
    • Retired employees of LIC are also authorised by the company to collect the due premium amount from the policyholder. In this case, too, the premium payments are updated real-time. Further, premiums for ULIPs can also be paid to retired LIC employees.
    • Policyholders can only pay premiums for policies which are active or in-force. Also, premium payments can only be done for policies with an annual, bi-annual, quarterly, or monthly mode of premium payment. For Salary Savings Scheme (SSS) policies, premiums cannot be paid through this channel.
    • Customers can choose to pay their premium by cash or cheque to Senior Business Associates, retired LIC employees, and premium point collection agents.
    • Advance premium payment can be done 30 days prior to the premium due date until the policy is in force. For certain term life insurance plans, premiums can be paid 15 days prior to the due date.
    • If the customer makes the due premium payment after the due date mentioned by the insurer, LIC will charge a penalty of 8%, with the minimum penalty chargeable being Rs.5.
    • Customers cannot pay premiums for the next financial year in the present fiscal.
    • Customers can pay their due premiums to LIC-authorised agents and merchants free-of-cost. Customers are not expected to pay any extra charge to use this service.

    LIC Online Premium Payment - For Non-Registered and Registered Users

    LIC offers customers the option to pay their premium online through their official website in a time-efficient and completely secure manner. Also, the insurer not only offers this option to those customers who are registered and have enrolled their policies on the website, but also to customers who have not registered yet. It is, however, important to remember that the process of paying the due premium amount will vary based on whether you are registered or non-registered customer. However, the ease and convenience of paying your premium through the website remains the same, regardless of whether you are registered on LIC’s website or not. With this facility, customers of LIC can pay their premium from anywhere and at any time, in a hassle-free manner.

    LIC Online Payment via Net Banking Mode (for Non-Registered Users)

    Almost all banks, insurance companies, and financial institutions offer customers the option to make their transactions through a range of online channels. Paying premiums for insurance policies through online channels is hassle-free and convenient, thus it has become a popular choice among policy buyers. Listed below are the various steps to pay your premium online through the net banking mode, on the LIC website.

    • Step 1: In order to make your premium payment, you will first need to visit LIC’s official website. Simply type the URL in your browser’s address bar to navigate to the respective page.
    • Step 2: Once you are on LIC’s official website, you will be able to view a box on the main page that is labelled ‘Online Services’, with a number of options below.
    • Step 3: From these options, you will have to click on the ‘Pay Premium Online’ option, in order to begin the online premium payment process.
    • Step 4: Once you click on this option, you will be redirected to another web page, where you will be able to view two options to pay your premiums - ‘Pay Direct (without login)’ and ‘Through Customer Portal’.
    • Step 5: In case you have already registered and enrolled your insurance plan on LIC’s official website, you can pay your premium through LIC’s customer portal in a hassle-free manner. Thus, in this case you will have to click the ‘Through Customer Portal’ option. However, if you haven’t registered or enrolled your policy, you can choose to pay your premium through Pay Direct. In this case, you will have to click on the ‘Pay Direct (without login)’ option.
    • Step 6: If you are paying your premium through the Pay Direct option, post clicking on the Pay Direct option, you will be redirected to another web page.
    • Step 7: On this page, you will see a box titled ‘Pay Direct’. Inside this box, you will see two options, namely ‘Pay Direct No Registration Required’ and ‘View Transaction Status’. Under the ‘Pay Direct No Registration Required’ tab, you will be able to view a drop-down menu with three options - Renewal Premium/Revival, Loan Interest Payment, and Loan Repayment.
    • Step 8: From these options in the drop-down menu, you will have to click on ‘Renewal Premium/Revival’. This will then take you to another page that will show you the steps involved in making an online premium. On this page, you will also find two tabs named ‘Back’ and ‘Proceed’. You will have to click ‘Proceed’ to make your premium payment.
    • Step 9: Post clicking on ‘Proceed’, you will arrive at the Customer Validation page, which is the first step of the online premium payment process. On this page, you will need to key-in certain policy-specific information. Certain information that you will have to key in on this page include your policy number, date of birth, contact details (email ID and registered mobile number), and the instalment premium amount that is to be paid for this policy. Post entering all the required information, you will have to enter the captcha code on the same page.
    • Step 10: After doing this, you will have to check the ‘I agree’ box and then click on ‘Submit’.
    • Step 11: The next step in the online premium payment process is verifying the premium particulars. Here, you will need to verify all the information that you provided about your policy in the previous page. If all the information mentioned is correct, you can click on the ‘Checkout’ option.
    • Step 12: The next page will display a box with certain columns that will include your policy-specific information, along with another column for additional policy charges (if applicable) that you may be charged. This amount will be added to your overall premium payable. A few charges that could be levied include the Education Cess, Service Tax, Late Fee, etc. The total premium payable including the charges will be shown to you on this page. You will also see a column called ‘Pay Premium’. To proceed, you will need to check the box under this column and this click on the ‘Submit’ tab.
    • Step 13: For the last step of the online premium payment process, you will need to confirm your payment details and select the mode through which you wish to make the premium payment. You can choose to pay by net banking via debit/credit card (through the IDBI Gateway) or through net banking (through the BillDesk Gateway).
    • Step 14: You will need to click on the BillDesk Gateway option in order to make your premium payment through net banking. On the next page, you will be able to view a list of banks from that support online payment of premiums. LIC supports almost all major banks.
    • Step 15: Now, you will have to select the bank with which you hold an active account and wish to use to make the online premium payment. Post this, you can click on the ‘Submit’ option to confirm.
    • Step 16: You will be redirected to your bank’s net banking page, where you will have to log in.
    • Step 17: In order to log in, you will need to enter your user/customer ID and the password. Once you are logged in, you will need to verify the premium payment amount.
    • Step 18: Post this, you will need to follow the instructions that are provided to you by your bank to make the due premium payment. In most cases, while making net banking transactions, you will have to provide certain grid numbers that are linked to your account. This will be mentioned in your debit/credit card.

    LIC Online Premium Payment for Registered Users

    Customers of LIC have the option of registering themselves on the LIC website. Thus, if you are a registered customer, you can opt to make your premium payment through the Customer Portal via the e-Services facility offered by LIC. The steps that you will have to follow in order to make your due premium payment using the e-Services facility are mentioned below:

    • Step 1: Firstly, you will have to visit LIC’s official website. On their main page, you will see a section called ‘Online Services’, with a few options given below. From these options, you will have to click the ‘Pay Premium Online’ tab.
    • Step 2: Upon clicking on the ‘Pay Premium Online’ tab, you will be redirected to another page, in which two options will be displayed - ‘Pay Direct’ and ‘Through Customer Portal’. You will need to click on the ‘Through Customer Portal’ option.
    • Step 3: Clicking on this option will redirect you to the LIC e-Services web page.
    • Step 4: On this page, you will need to enter certain information. You will need to enter your role (customer/agent/branch manager), and key-in your user ID, password, and date of birth. After entering the necessary information, you will have to click on the ‘Sign In’ button.
    • Step 5: In order to view details of your policy, you will need to enrol your insurance policy on the insurer’s website.
    • Step 6: You will see a button named ‘Enrol Policies’ under the e-Services tab. You will need to click on this.
    • Step 7: Once you click on the ‘Enrol Policies’ option, you will need to provide your insurance policy number and your instalment premium amount.
    • Step 8: Post this, you will need to click on the option titled ‘View enrolled policies’, which you will find on the left side of the webpage.
    • Step 9: Post this, you will be redirected to a page where a certain code will be displayed. You will need to key-in the code and click on the ‘Submit’ option. After doing this, you will be able to view your policy details.
    • Step 10: You can view your enrolled policies as soon as you enter LIC’s customer portal.
    • Step 11: Within the Customer Portal, you will be able to view a tab called ‘Pay Premium Online’.
    • Step 12: You will need to click on the ‘Pay Premium Online’ button. Post this, you will be able to view all the policies that you have enrolled in your LIC account.
    • Step 13: You will need to select the enrolled policy for which you wish to make the premium payment and click on the ‘Submit’ option to confirm.
    • Step 14: Post this, you will be redirected to your bank’s payment gateway page, through which you can make the premium payment. You can pay your premium either through credit/debit card or via net banking, based on your preference.

    LIC Online Premium Payment via Credit/Debit Card

    Besides making premium payments through the net banking mode, you can also choose to pay your premium using your credit or debit card. Payments made with your debit/credit card will be processed through the IDBI Gateway. In order to pay your premium using your debit card, you will need to follow steps 1 - 13 that are listed under the ‘LIC Online Payment via Net Banking Mode’ section. The steps that you will need to follow after that are mentioned below:

    • Step 1: You will need to click the circle that is against ‘IDBI Gateway’. Post this, you will be redirected to another web page where you will be able to view the service tax and convenience fee that accompanies every type of card. You will have to identify your card type and enter your premium instalment amount in order to find how much you will have to pay as the service tax for that particular premium amount. Post this, you can click on ‘Submit’.
    • Step 2: After doing this, you will be redirected to a webpage where you will be required to key-in your card details in order to complete the transaction. In most cases, you will need to key-in your credit/debit card number, the expiry date of your card, the CVV number, name on the card, and contact details. You will also need to key-in the captcha code that is displayed on this webpage. Alternatively, you can also choose to make your premium payment using your ATM PIN, password, or OTP.
    • Step 3: In the final step, you will need to click on ‘Pay’. Post this, you will receive a receipt as an acknowledgement of your payment on your registered email ID.

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