You can pay LIC premium online using Paytm, a popular digital payment platform. Paytm offers a seamless and secure experience for LIC premium payments.
With Paytm, you can make LIC premium payments from the comfort of your home or on-the-go using your smartphone. This eliminates the need to visit LIC branches or stand in long queues.
To pay LIC premium online with Paytm, you'll need to have a Paytm account and a valid LIC policy number.
Secure Transactions
LIC online premium payment is equipped with advanced security measures and adheres to industry standards. This ensures a secure transaction every time.
Your personal and financial information is encrypted, so you can rest assured that your data is protected. You don't have to worry about your sensitive information being compromised.
The payment gateway is completely safe, and the paid amount is completely encrypted. This means that your payment is secure and private.
Customers from outside India can also make payment of premium online via debit card, credit card or net banking. This makes it convenient for international customers to pay their premiums securely.
There are no charges or fees for the online payment service. This means that you can pay your premiums without incurring any additional costs.
Here are some key points to keep in mind when making online payments:
- Premiums can be paid for ordinary policies under monthly, quarterly, half-yearly, and the yearly mode of premium collection.
- The payment channel is completely safe as data of policy is not shared in this procedure.
- Customers do not need to pay any charge or fee for the online payment service.
- The payment gateway is IDBI for payment through credit card and BillDesk for payment through internet banking or debit card.
Payment Options
You can pay your LIC premium online using various methods, including Paytm. One of the most convenient options is to use your debit or credit card through the IDBI gateway.
To pay online via debit or credit card, you'll need to visit the LIC website, log in to the payment gateway, and select IDBI as your preferred payment option.
You can also pay your LIC premium through Billdesk, a bill pay aggregator that powers bill pay services for many banks. To use Billdesk, you'll need to create a new account and link your bank account to your profile.
To make a payment through Billdesk, you can choose between Online Pay and Auto Pay. With Online Pay, you can make a one-time payment, while Auto Pay allows you to set up standing instructions for auto deduction of your premium amount from your bank account.
Here are the different LIC premium payment modes:
User Registration
To pay your LIC premium online, you first need to register for a user account on the LIC portal. You can choose between Registered User or New User, but if you don't already have an account, click on New User.
Clicking on New User will take you to the registration screen, where you can create a new account. Once you've registered an account, you can log in and access the pay premium online feature.
To log in, click on Registered User, which will take you to a sign-in screen. You can then enter your User ID or get an OTP to access your account. After logging in, you'll see a Pay Premium Online link in the left-hand side navigation.
You'll then be taken to a page showing all your enrolled policies. Select the policy you want to pay for and hit Submit. You can choose to pay using netbanking, credit or debit cards, or e-wallets, but be aware that some of these options may incur nominal processing charges.
Process and Reminders
You can pay your LIC premium online using Paytm, and it's a great way to avoid last-minute rushes.
The LIC policyholders can also receive timely reminders through SMS or email notification, which helps them remember the premium due dates.
These reminders are sent to the policyholders to ensure they pay their LIC premium on time without fail.
LIC has made it easy to stay on top of your premium payments by providing this convenient reminder service.
Additional Features and Channels
You can pay your LIC premium online using various channels, making it convenient to manage your policy payments.
Paytm is one of the popular options, allowing you to pay your LIC premium directly from your mobile wallet.
Franchisees also offer a range of payment options, including AP Online and MP Online for easy premium payment.
LIC Website and Net banking are other channels where you can pay your premium, providing a hassle-free experience.
If you're a retired LIC employee, you can use the Retired LIC Employee Collection channel or Corporation bank for your premium payment.
Here are some of the additional features and channels you can use to pay your LIC premium online:
Considerations and Registration
To pay LIC premium online, consider registering on the LIC portal first. You can choose between Registered User or New User, and if you don't already have an account, click on New User to register.
As a registered user, you'll have access to a sign-in screen, where you can log in with your User ID or get an OTP. Once logged in, you'll see a Pay Premium Online link in the left-hand side navigation.
To pay your premium, select the policy you want to pay for and hit Submit. You can choose from various payment options, including netbanking, credit or debit cards, and e-wallets, each with its own nominal processing charges.
Here are some key points to consider while doing LIC policy premium payment online:
- The policyholder should only pay their own premiums online, and no third-party payments should be made.
- Provide correct and valid contact details to receive policy information on time.
- If the LIC premium amount is debited from your account but the error page is reflected, you will receive a receipt within three working days of the bank confirming the transaction.
- You can also contact LIC customer support at [email protected] if you have any inconvenience.
Other Facility
If you're looking for alternative ways to pay your LIC premium, you're in luck. LIC offers a convenient online payment facility called the Online Payment Gateway.
This facility allows you to make payments in a secure and real-time manner through net banking, debit card, or credit card. To use this service, you'll need to have enrolled your LIC policies on the LIC portal and registered yourself on the LIC website.
Here are some key points to keep in mind when using the Online Payment Gateway:
- Premiums can be paid for ordinary policies under various modes of premium collection, including monthly, quarterly, half-yearly, and yearly.
- Customers from outside India can also make online payments using a debit card, credit card, or net banking.
- The payment process is completely safe, with data encryption to protect your policy details.
- There are no charges or fees for using the online payment service.
To make a payment through net banking, you'll need to visit the LIC website to find out which banks are authorized by LIC for online premium payments. The good news is that LIC supports all major banks!
Once you've made a payment, you'll receive a receipt on the website, which you can print or have sent to you via email. Just be aware that if you pay your premium after the due date, you'll be charged a late fee of 8% (minimum 5 rupees).
Here are some important deadlines to keep in mind:
Considerations
When making online premium payments for your LIC policy, it's essential to keep a few things in mind.
Only pay your own premiums online, and avoid making third-party payments.
Providing accurate contact details is crucial to receive policy information on time. Make sure to enter your valid contact information correctly.
If you encounter an error page after your LIC premium amount is debited from your account, you can expect to receive a receipt within three working days of the bank confirming the transaction.
For any inconvenience or issues, you can reach out to LIC's customer support at [email protected].
Frequently Asked Questions
Why I am unable to pay LIC premium online?
Unable to pay LIC premium online? Check if your policy is in lapsed condition or if you've entered the incorrect premium amount, which should be the basic premium without taxes
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