Online Premium Payment 626 views June 25, 2021

ICICI Prudential Life Insurance Premium Payment

One of the common questions people often ask is about the ICICI Prudential Insurance Premium Payment after purchasing the policy. If you don’t pay the premium during the allotted period, you run the risk of your policy getting lapsed. If you want to know about different aspects related to the ICICI Prudential Insurance Premium Payment, this page could be a good read for you. Let’s start without any further delay.

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How to Pay ICICI Prudential Insurance Premium Payment?

ICICI Prudential Premium is the amount that a policyholder needs to pay regularly to keep his or her policy in force and secure the payout if something unfortunate happens during the policy term. You can make ICICI Prudential Premium Payment using any of the following options.

Online Method

  1. To pay your renewal premium online, you will need to visit the official website of the ICICI Prudential.
  2. On reaching there, you will see the option of ‘Pay Premium’.
  3. Click on that option to reach a page where you will need to fill in details like your Policy number/ Mobile number/ Email ID and date of birth.
  4. Once you fill in these details, you can pay your premiums through net banking, UPI, debit card, credit card and e-wallets.

Via Cheque

You can also pay the premium payment via cheque at any of the nearest ICICI Prudential Branches and a few banks. You can visit the official website of the ICICI Prudential to know the list of banks and drop boxes where cheque payments are accepted.

Cash Option

ICICI Prudential has a few authorized collection centers where you can pay your policy’s premium in cash up to INR 49,999. You only need to visit the nearest center and hand over the premium amount to the cashier.

AutoPay Facility

Other than these methods, you can also pay your future premiums with your debit or credit card using the auto-pay facility on your net banking. You can start this facility by following the steps mentioned below.

  1. Login to your net banking with your username and password.
  2. Enter your policy number, date of birth and click on ‘Standing Instructions’.
  3. Click on ‘Auto Debit’.
  4. Select the payment mode.
  5. Click on ‘Pay Now’. For authentication, INR 1 will be charged to you by your bank.

How to Get a Copy of Your Premium Receipt?

A premium receipt of your policy denotes the amount that you have paid for your ICICI Prudential policy. With this receipt, you can receive tax benefits as it works as investment proof. You have the option to view or download premium receipts for the last six months. If it is your first premium payment, you will get a receipt in the welcome kit sent by the ICICI Prudential.

On paying the premium in advance, the receipt will be generated on the day after your premium due date. However, if you made the premium payment on or after the due date, the receipt will be available within 2 days.

To view or download the receipt, you only need to enter your policy number and date of birth. We are showing some other methods below. Have a look!

Online Account 

You will need to log in to your account with a username and password. Once you log in, you will need to click the ‘Statements’ tab. Under this tab, you will see ‘Premium Receipt’. Click on it and enter the policy number to view or download the ICICI Prudential Premium Payment receipt.

Via Call 

You can also call on ICICI Prudential Helpline Number from Monday to Saturday, between 10 am to 7 pm. After calling, you will need to tell your policy details to the customer representatives.

Visit the Branch

You can also request your premium paid certificate at any of the nearest ICICI Prudential branches. To get some information about the nearest branch, you can visit the official website.

Via Email

You can also get your premium payment receipt by sending an email request to the ICICI Prudential from your registered email ID. You will need to mention your policy number in the subject line.

How to Revive your Lapsed ICICI Prudential Insurance Policy?

If you do not pay the due premiums after the completion of 45 days of the grace period ( up to 30 days), your policy lapses, and you will not get any benefits. Any amount accumulated in your policy would move to the discontinued fund.

Once your policy lapses, you can apply for the revival of the policy within 24 months from the date of the policy discontinuance. For this, you will need to pay the due premium, reinstatement charges and submit the personal health declaration form (if applicable).

You can download the health declaration form for your life insurance policy from the official website of the ICICI Prudential. On this form, you will need to submit the following details.

  1. Policy number
  2. Name of the life assured
  3. Name of the proposer
  4. Contact Number
  5. Email ID
  6. Rider name, term and sum assured (if any)
  7. Height and weight of the life assured

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