In India, LIC is the leading life insurance provider and people have the good faith on LIC because it is controlled by the government. But, when it comes to the services and extra features provided by the LIC is behind their private counterparts. One such thing is the online payment of the insurance premium, still many policy holders not aware of the LIC’s online premium payment and depend on the agents. It is because LIC has not taken any step to promote their portal.
This article explores the steps needed for the making the LIC premium through its online channel. I hope this article might be helpful to most of the readers because almost everyone has own LIC policies for them. Most of the people think that paying the LIC premium is only through agents or directly to the LIC office. But, paying through LIC’s official website would be hassle free and saves you lot of time. Moreover you can pay many policies in the single account (but it is not recommended by LIC). You can read the following stpes to make the LIC premium online.
Step 1 : How to create User Name in LIC website?
Step 2 : Enroll policy
After creating the user account, you can login to the portal with the new created username. Once logged in you have to add your policy number to retrieve the policy details. In the left side menu you will find “Enroll Polices” link. Click on that link and add your policy number and the premium amount.
Step 3 : View Policy details
If you enroll a policy, then you will be able to view all the details related to that policy. It includes policy started date, sum assured, plan, policy term, address, premium, next premium due, accrued bonus, branch and agent details. The following is the screen that shows the above details:
Step 4 : Pay LIC Premium
Now you are ready to make the payment online. Click on the ‘Pay Premium Online” link and you will see a list of policies you have enrolled in your account. Select the policies which you want to enroll and click on the submit button. It will be landing to the payment gateway site where you will be making the payment. Once payment is done, you will be returning to the same webpage.
Step 5 : Debit Card / Credit Card
It is an update to the existing article. When I first published the article, there is no provision to pay the LIC premium using the credit card. When I checked it recently, they have included the option for paying through debit card or the credit card. Once you have clicked the submit button, the next screen will show you the option to pay through credit card or debit card.
Step 6 : Service Charges
In the above step you have selected the option to pay through online. Either of the options, customer have to pay the convenience fees to the LIC for processing the payment. Customer will be taken to the following screen:
If you click on the agree button, you will be taken to the card details page and the next step your payment will be processed.
Step 7 : View Premium Receipt
You can view the premium receipt anytime. It is one of the advantage if we are making the payment online. We can keep the receipts safely and take the printouts anytime. The copy of the receipts will be sent to your email-id which is registered with your policy number.
You have to create separate user id if you are enrolling policy for different persons. It is because the system will not allow you to enroll the policy if the profile birth date and enrolled policy holder’s birth date does not match. They also suggested to use the separate user id for each person.
I hope this article will be useful for the readers who want to pay the LIC premium online. The good thing is that now LIC has added the option to pay using the credit card. If you have any doubts please post it in the comments section. The site doesn’t have the option to pay using the credit card. You must has the online banking account with any of the Indian bank to pay the premium online. Like explained in the above article, you can add any number of policies in the same username. Thank you for reading the article!!
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