LIC Online Premium Payment: Make LIC premium payments instantly online with flexible options like Debit/Credit Card & Net Banking. Stay updated on the latest LIC plans today! You can conveniently pay your LIC premium using multiple payment options, including Net Banking, Debit Card, Credit Card, and third-party platforms.
Both registered and non-registered users can take advantage of this online payment facility, making it easy to stay on top of your policy dues.
Key Takeaways of LIC Online Premium Payment:
✔ No login or registration required
✔ Multiple secure payment options
✔ Instant premium payment and e-receipt
How to Pay LIC Premium Online Without Login?
LIC Pay Direct offers a quick and seamless way to pay your premium online. Let’s explore how you can easily make LIC payments with and without registration.
Alternate Channels for LIC Online Premium Payment
Life Insurance Corporation of India (LIC) offers multiple convenient ways for policyholders to pay their premiums. Whether you prefer online payments, automatic deductions, or physical payment centers, LIC ensures a hassle-free experience. This article explores all the alternative channels for LIC premium collection, making it easier for you to choose the best option.
Online Premium Payment Options
1. LIC Customer Portal & Mobile App
LIC provides an online premium payment service through its Customer Portal and LIC Digital Mobile App. These platforms allow real-time payment of renewal premiums with just a few clicks.
How to LIC Online Premium Payment?
- Visit the LIC Customer Portal (LIC Website).
- Use the LIC Digital App (available on Google Play Store & Apple App Store).
- Choose the Pay Direct option to proceed with payment.
Key Conditions for Online Payments:
- Premium payments are allowed for in-force and spot revival policies.
- Policies under the Salary Savings Scheme (SSS) and NACH mode are not eligible for online payment.
- Payments can be made up to 30 days before the due date.
- Accepted payment methods include UPI, Net Banking, Debit Cards, and Credit Cards (with convenience fees for credit cards).
- E-receipts are generated instantly and sent to the registered email ID.
2. Online Loan & Interest Payment
LIC policyholders can repay their outstanding loan or loan interest online through the Customer Portal.
Important Guidelines:
- Payments can be made through UPI, Net Banking, and Debit Cards (Credit Cards are not accepted).
- Avoid multiple transactions on the same day to prevent duplicate payments.
- The Pay Direct option is available for quick payments without login.
Electronic Debit Payment Methods
1. NACH (National Automated Clearing House)
NACH is an automated electronic payment system that allows policyholders to set up direct premium deductions from their bank accounts.
How to Opt for NACH?
- Submit a NACH mandate form with bank details at the LIC servicing branch.
- eNACH can be validated via Debit Card, Net Banking, or Aadhaar.
- Debit dates are fixed as 7th, 15th, 22nd, or 28th of the month.
- If a payment fails due to insufficient funds, a penalty of ₹125 applies.
2. Direct Debit
Direct Debit is an auto-debit facility available for policies purchased via IDBI Bank and Policy Bazaar. It ensures automatic premium deduction without manual intervention.
3. Bill Pay (EBPP – Electronic Bill Presentment and Payment)
Policyholders can register their LIC policy with partner banks and service providers like ICICI Bank, LIC Mutual Fund, and Bill Desk for automated payments.
Offline Premium Payment Channels
1. LIC Premium Collection at Authorized Merchants
LIC has authorized Development Officers, Agents, and Retired Employees to collect renewal premiums at designated locations such as LIFE Plus Points, Premium Points, and Bima Connect Offices.
Payment Methods Accepted:
- Cash, UPI, Cheque, and Debit Cards (POS terminals available at select locations).
- Payments can be made up to 30 days before the due date.
2. Third-Party Apps & Bharat Connect
LIC premium payments can also be made via Bharat Connect-enabled apps & Paytm.
Key Benefits:
- Real-time updates on premium payments.
- Digital receipts sent instantly via email.
- Auto-pay registration for seamless transactions.
3. Premium Payment at Banks & Franchisees
LIC has partnered with banks and authorized franchisees to facilitate offline premium collection.
Authorized Banks:
- Axis Bank, City Union Bank, and IDBI Bank (Payments via Cash or Cheque only).
- Premiums can be paid up to ₹50,000 in cash.
Authorized Franchisees:
- APT Online Ltd., CSC e-Governance, MP Online Ltd., and Suvidhaa Infoserve Ltd.
- Payments only in cash (up to ₹50,000) for active policies.
Frequently Asked Questions (FAQs)
Can I pay my LIC premium online without registering?
Yes, you can use the Pay Direct option on the LIC website or mobile app for quick payments.
What happens if my NACH payment fails?
LIC will send an SMS/email notification. A dishonor fee of ₹125 will be applicable, and payments need to be made through other channels.
Are there any extra charges for paying premiums via Credit Card?
Yes, LIC absorbs the convenience fee charged for credit card payments.
Can I pay my premium at an LIC agent’s office?
Yes, LIC allows authorized agents and merchants to collect premium payments at select locations.
How can I check my LIC payment status?
Visit www.licindia.in.
Click on Pay Premium Online > Pay Direct.
Use the View Transaction Status option by entering your Policy Number and Transaction Date.
Conclusion
LIC offers multiple convenient ways for policyholders to pay their premiums, ensuring flexibility and ease of access. Whether you prefer online payments, auto-debit options, or offline cash payments, LIC has a solution for everyone. Choose the most suitable method and enjoy hassle-free insurance premium payments!
For further assistance, contact LIC’s Customer Support at 022-6827 6827 or send an SMS: LICHELP to 92224 92224.
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