LIC Online Payment: Check How to Pay LIC Premium Online

Life Insurance Corporation, also known as LIC, is one of India’s most prominent, and oldest life insurance companies. Established in 1956, LIC has been providing insurance solutions to millions of customers since the time it was the only insurance provider in the country altogether. Over time, the company has not only expanded its operations but also its products to cater to the insurance requirements of the ever-increasing population. Following years of innovation and providing some of the best life insurance plans, LIC is now counted among some of the most reliable, trusted, and popular life insurance providers in the country.

LIC Online Payment Facility - 2023

Premium Payments for LIC policies can be done online in a variety of ways such as from the LIC website, at authorised bank branches, at franchisees, or even at merchants. Here, we have prepared an exhaustive list of all the options via which customers can make payments for their insurance policies.

How To Make LIC Premium Payment Online?

To make LIC Premium online payments for their plans and policies securely and conveniently, LIC has set up a special portal known as ‘Online Services’ which is an on-demand premium collection service.

• Through this portal, customers can easily make their policy payments in real-time, and in a secure manner via net banking.
• They can also make online payments for LIC policies via credit card or debit card. This facility can only be availed by customers who are registered and have had their LIC policies enrolled on the LIC website.

What are the Options To Pay LIC Premium Online?

The two options to pay the premium of Life Insurance Corporation of India are:

• Direct (Without Login)
• Through Customer Portal

1. Direct Payment: If you click on 'Pay Direct (Without Login)', you will be redirected to a page where you have to select from the following options -

• Renewal premium/revival
• Loan repayment
• Advance LIC premium payment
• Loan interest payment

2. Through Customer Portal: If you click on ‘Through Customer Portal’, you will be redirected to a page wherein you will be required to enter details such as

• User ID
• Password,
• Birth date
• etc.

Online Payment Option For Registered/Non-registered Users

The facility to make LIC premium payments online has been introduced by LIC to not just make the process of making payments quicker, and safer.

• The option to make LIC online payments is offered not just to customers who have registered their policies on the LIC website, but also to those who may have not done so.
• While the process for different types of users will be different, nevertheless, it provides the same convenience of making payments anytime, and from anywhere.
• Users can pay their policy premiums with just a few clicks and enjoy uninterrupted life insurance coverage.

LIC Online Premium Payment Through Net Banking (Non-Registered Users)

The convenience of making transactions is a facility that almost every bank in India now offers to its customers. This facility can come in especially handy when you have to pay premiums for your LIC policy online. The process for this is quite simple and hassle-free and one can easily do it on their own.

Here, we will list down all the steps that you need to follow to make your LIC policy payment via the net banking option.

• Step 1 - First, Go to the LIC website by typing www.licindi.in in your browser.
• Step 2 - On the website, find the 'Online Services' box and click on 'Pay Premium Online'.
• Step 3 - A new tab called 'Pay Direct' will open. Click on 'Pay Direct' if you have registered your policy on the LIC website. If you haven't, click on 'Through Customer Portal'.
• Step 4 - Click on 'No Registration Required-Pay Direct' to proceed.
• Step 5 - On the next page, click on 'Renewal Premium' from the drop-down menu.
• Step 6 - Click on 'Proceed' to go to the Customer Validation page.
• Step 7 - Provide your LIC policy number, date of birth, registered mobile number and email ID, and instalment premium amount to be paid. Enter the captcha code too.
• Step 8 - Click on 'Submit'.
• Step 9 - Verify all the policy information on the Payment Particulars page and click on 'Checkout'.
• Step 10 - Tick the box under 'Pay Prm' and click on 'Submit'.
• Step 11 - Choose the mode of payment - net banking through the BillDesk Gateway or credit/debit card (IDBI Gateway).
• Step 12 - Click on the BillDesk Gateway.
• Step 13 - Select the bank with which you hold an account and want to use net banking to make the payment.
• Step 14 - Login using your net-banking email ID and password.
• Step 15 - At last, verify the paid amount and then complete the transaction.

Note: For net banking transactions, you may need to provide certain grid numbers mentioned at the rear of your debit/credit card linked to the account.

LIC Online Payment for Registered Users

If you have registered your policy on the LIC website, you can choose to pay a premium for your policy via the e-Services facility offered via the LIC of India website.

The steps to make premium payments using the lic online payment login facility are as follows:

• Step 1 - Visit the LIC India website at www.licindi.in On the home page, locate the ‘Online Services section’ and click on the ‘Pay Premium Online’ tab.
• Step 2 – This will redirect you to a new page where you will find 2 options – ‘Pay Premium through e-Services’, and ‘LIC Pay Direct’. Click on the first option to select it.
• Step 3 – You will be redirected to the LIC e-Services page where you must click on the option labelled ‘Registered User’.
• Step 4 – On the following page you will ask for your LIC login ID and password. Provide the necessary information and click on the Submit button.
• Step 5 – To get your policy details, you first need to enrol your policy on the website.
• Step 6 – Under the e-Services section, you will find a tab labelled ‘Enrol policies’. Click on it.
• Step 7 – Once you have clicked on it, you will be asked to provide your policy number and the premium amount payable.
• Step 8 – Next, you must click on the tab labelled ‘View enrolled policies’ that is on the left side of the page.
• Step 9 – Next, a page with a code will be displayed. Fill in the code and click ‘Submit. Following this, you can view your policy details.
• Step 10 – After you have entered the online services portal, you can view all your enrolled policies.
• Step 11 - After viewing the policy details in customer service, you will be able to see an option “Pay Premium online” to make the payment online.
• Step 12 – Next, click on the tab labelled ‘LIC Pay Premium Online’ and you will be able to see the list of policies that you have enrolled in your LIC account.
• Step 13 – From this page, select the policies for which you want to pay the premium and click on the Submit button to confirm your selection.
• Step 14 – You will be redirected to the payment gateway page where you can select to make the payment either via net banking or via your credit/debit card.

Conclusion

As a policyholder for LIC of India, people have multiple benefits when it comes to paying premiums online. From issuing payment instructions, being able to authorise payments from any location, and saving time, to instruction modification, there are a range of advantages of making premium payments online. One can also choose the establishment one wants to transfer from.

Also Read:

Learn Everything About The LIC E-Services Portal
How to Download Premium Receipt Online?