LIC of India 150 views June 19, 2021

How to Pay LIC Premium Online

To enjoy the benefits of your LIC policy, it is important to pay the premium amount on time every year. In case you are unable to pay the due premium even during the grace period of 30 days, your policy will be terminated. A grace period is a duration that an insurer provides to you to pay the premium in case you fail to do so on the due date.  Wondering how to do the same? Well, you can know everything about the LIC premium payment online by going through this post. Read on!

Methods to Pay LIC Premium Online

Life Insurance Corporation of India provides the option to pay the premium online via two methods – Pay Direct (Without Login) and Through Customer Portal. You can choose any of the methods according to your convenience. We are showing the steps that you need to follow for both the methods below. Please check!

Pay Direct Option (Without Login)

Step 1: Firstly, go to the official website of the LIC where you will see the option of ‘Pay Premium Online’. On clicking that, you will reach a page with two options – Pay Direct and Customer Portal.

Step 2: Click on the ‘Pay Direct’ option that will take you through to the payments page. Here, you will see multiple options – Renewal Premium/Revival, Advance Premium Payment, Loan Repayment and Loan Interest Payment. Choose the first option.

Step 3: Now, you will need to validate your policy details by filling in your name, date of birth, policy number, installment premium (without tax), registered mobile number and email ID.

Step 4: Once you submit these details, you will reach the payment page where you can pay via net banking, debit or credit card.

Note: You can also view and download your payment receipt for the completed transaction on the LIC’s official website.

Through LIC Customer Portal

Step 1: Firstly, go to the official website of the LIC where you will see the option of ‘Pay Premium Online’. On clicking that, you will get to a page with two options – Pay Direct and Customer Portal. Here, choose the customer portal option.

Step 2: You will need to fill in your user ID and password to sign in to your account.

Step 3: Post-login, you will be redirected to a page where you will need to select the ‘Self/Policies’ option to view your policy details.

Step 4: You will need to select the option of Renew LIC Policy/Due Date. Once you select this option, you will need to choose the ‘Pay Premium’ option.

Step 5: Once you select the option, you will be redirected to a page where you can pay the LIC premium via different payment options such as net banking, credit or debit card.

Step 6: Upon successful transaction, you will get a digitally signed e-receipt on your registered email ID.

LIC Premium Payment Online via Mobile App

Individuals can also pay the premium for their LIC policies via its official mobile application – LIC PayDirect. This application is developed for the customers to make direct payment of LIC premium. You can also use this app to pay the loan interest or full repayment of your loan. One can also view the transaction status of the LIC Policy Payment using this app.

LIC Premium Payment via UPI-enabled Apps

Apart from the LIC’s official mobile application, there are several other Unified Payments Interface (UPI)-enabled applications that provide the option of LIC premium payment. You can download any of them from your respective app stores and pay the premium in a few clicks.

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