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LIC Premium Payment Process

Life Insurance Corporation of India was created on 1st September 1956, with the objective of spreading the concept Life Insurance across India. From then to now LIC has crossed many milestones and has set unprecedented performance records in Life Insurance business. LIC is behind their own complements. In previous days, the premium amount was paid through LIC agents or visiting the nearest branch office.

Hence, to reduce the effort for their policyholders, LIC India has started this online payment services for paying premium amount. Still, most of the policyholders are not aware of the LIC Online Payment, and they still depend on the LIC agents. To make the process quicker and reduce the dependency part, LIC provides you Online LIC payment services where one can easily pay premium payments few minutes, check policy status and whether one is a registered user or not. Moreover, you can pay many policies in the single account (but it is not recommended by LIC). You can read the following steps to make the LIC Online Premium Payment.

How to make LIC Online Payment?

LIC is offering online payment service for both Registered and Non-Registered Users. Now you can pay your LIC policy Premium online, with just a few clicks on your computer. LIC has made life easier for the infinite LIC policyholders across the country. LIC Payment Online option is initiated to save time and money of the clients. Below, we have given the LIC Online Premium Payment Steps for both Registered and New Users.

LIC Premium Payment Procedure for Registered users

LIC Premium Payment Procedure for Non-Registered Users

How To Make LIC Payment Online Using Credit/Debit Cards?

Other than net banking, you can also use your credit/debit card to make the LIC online premium payment. The LIC premium payment through credit/debit card is processed via IDBI Gateway. The credit/debit card payment can be commenced in three easy steps:

Other Payment Facility By LIC To Pay Premium

In this world, every industry seems to accept the new trend of online and banking sector and that is obvious with Lic to go for it. Nowadays, more and more people are looking forward to prefer shop online, pay online and even for socialization.

Like most of the other insurance companies, LIC has also made it easier for customers to make premium payments online and can also check the status of the policy. It also comes out with the option of updating.

LIC comes put with a huge customer base and to make sure that its customers do not need to wait in long queues to make payment or to make renewals, the company comes out with the online facility There are several LIC online premium payment options. Now people can go online to make premium payments and can also deposit premium at one of the authorized centres.

Premium Collection Through Authorized Banks:

There are 2 banks that are authorized by LIC to collect premium payments:

Things to consider when paying your LIC premium payment through these banks:

LIC Payments Through Franchisees/Authorized Collection Centers

Nowadays, when most of the things are going online, still a few customers are not comfortable with the option of online payment and moreover, they prefer to make payment through the offices rather than the site. Those people will be happy know that LIC also provides several options to pay the premium via different private & government-owned service providers and companies. There are 4 service providers who are working along with LIC to ensure offline premium payment services for policyholders. They are:

However, there are few things that you must take care while paying your LIC premium payments through these channels:

Agents Collection

For more comfort, LIC have this option as well, Retired Employees of LIC and Senior Business Associates (SBA-Development Officers) as payment collection agents. Below are a few of the important details that you have to keep in mind while making premium payments via these authorized agents:

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