Finance

How to do LIC Premium Payment Online – Options and Methods

LIC is important in every individual’s life in India. With the advancement in technology, it is important to understand the option of online payment available with LIC.

India’s most prominent and oldest life insurance company, LIC or Life Insurance Corporation was established in 1956. Millions of customers have received insurance solutions through Life Insurance Corporation. At one point in time, it was the only insurance provider in the country.

To provide support to the increasing population of the country and expand its operations, life insurance corporation of India has expanded as a company. LIC is counted as one of the most trusted, reliable and popular life insurance providers in the country since it has been innovating and providing some of the best life insurance plans to the citizens of India.

Online LIC Payment

With the advancement of time and technology, banking and insurance sectors have shifted online. More and more people are now options to make online payments. This is convenient for them.

LIC e-services help customers to make LIC online payment nowadays. LIC offers a number of channels to do that too. Online LIC payment can now be done through channels like an authorized bank branch, merchant site, franchisees or the simplest one, the LIC website.

LIC e-Services

With today’s technological advancements, everything that we do has its digital format. Everything is going online. So, to keep up with the fast paced world, LIC decided to make its services available online too and help its customer solve problems. Problems like paying premiums for their insurance or loans online from any location they want. This is a major step and change taken care of by LIC. It also solves the problem of forgotten passwords and reminds you about your date of LIC payment, in case you forget about it.

You can take care of multiple things like payment of your LIC premium, receive your LIC premium receipt or LIC online registrations through LIC e-services. With LIC e-services, everything as if seems to have been taken care of. Also, the current tech-savvy generation prefers doing all these things online and having a control over their financials.

Online LIC Payment

Here are the steps which you can follow on the LIC website to get your work done:

  • 1st Step

Click on “Online Services” on the homepage of the official website of Life Insurance Corporation of India.

  • 2nd Step

After that, you will be redirected to another page. There, you will find an option of “LIC PayDirect”. Click on this option to continue further.

  • 3rd Step

Here, you will need to fill in your personal details. Your personal details including your name, phone number, email address, birth date, the number of your policy and the premium details have to be entered in a window which shows up on your screen.

Make sure to provide your correct email address since your receipt for the online payment of your premium is sent to the email address that you fill in here. Also make sure to use the policyholders account only for the payment. A third party cannot do this payment on your behalf.

  • 4th Step

Click on “Submit” button after you’ve filled all the details and updated the form on the screen.

After this, you will be redirected to a different page. On this page, the website will re-confirm your details that you have filled earlier.You can also add, additional or more policies on this page.

  • 5th Step

Post the 4th step, you will get to a page with your policy details. Once you click “Next” on this page, you will have to make the payment on your LIC premium.

  • 6th Step

After this, you will be directed to a different page again. This is the banking page for the payment of premium. You can choose to pay via internet banking or by using your Credit/Debit cards.

  • 7th Step

Once you are redirected to the internet banking page you can securely make your LIC premium payment. The LIC premium receipt will be sent to your email post this as a proof of your payment for the LIC.

Other Important Points To Remember:

  • To view the LIC premium receipt, you need some configurations set on your computer. You need acrobat reader version 6 or above to view the receipt.
  • If you land on the error page, instead of the payment success page, then you should first check your bank account details for any deductions. If the amount is deducted from your bank account then within 3 working days, you should receive your LIC premium receipt. If you do not receive the payment receipt, then you should contact your bank about it.
  • If the payment is deducted from the bank account and you do not receive a receipt then, you should write an email to [email protected].

Online LIC payment and many such other facilities have been made really easy by the e-services provided by Life insurance corporation of India. It is indeed one of the most reliable names. Many people in India are reaping results after investing in Life Insurance Corporation of India.

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