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LIC Online Payment - For Registered/Non-registered Users:

The facility to make premium payments online has been introduced by LIC to not just make the process of making payments quicker, and safer. The option to make online payments is offered not just to customers who have registered their policies on the LIC website, but also to those who may have not done so.

 While the process for both these types of users will be different, nevertheless, it provides the same convenience, of making payments anytime, and from anywhere. Users can pay their policy premiums with just a few clicks and enjoy uninterrupted life insurance coverage.

LIC Online Premium Payment Through Net Banking (Non-Registered Users): The convenience of making transactions is a facility which almost every bank in India now offers to its customers. This facility can come in especially handy when you have to pay premiums for your LIC policy online. The process for this is quite simple and hassle-free and one can easily do it on their own. Here, we will list down all the steps that you need to follow to make your LIC policy premium payment via the net banking option.

Step 1 – to pay your premiums, you need to first go to the LIC website. The URL for the website is licindia.in. You can simply type in the address on your browser to visit the website.

Step 2 – Once the website has opened, you will see a box labelled ‘Online Services’ which has several options underneath such as Online Loan, Customer Portal, Pay Premium Online, etc.

Step 3 – Under ‘Online Services’, click on the ‘Pay Premium Online’ tab to initiate the premium payment process for your LIC policy.

Step 4 – When you click on the ‘Pay Premium Online’ tab, it will open a new tab altogether labelled ‘Pay Direct’. This page will display two squares, one labelled ‘Pay Direct’, and the other ‘Through Customer Portal’.

Step 5 – If you have registered your policy on the LIC website, you can click on the box labelled<‘Pay Direct’. However, if you have not registered your policy on the LIC website and simply want to pay your policy premium directly, you must click on the box labelled ‘Through Customer Portal’.

Step 6 – Here, we will be showing you the online payment method where no registration is required. For this, we click on the ‘No Registration Required – Pay Direct’ box.

Step 7 – The next page you see will contain a box which reads ‘Pay Direct’. Inside the box, there will be 3 options in 3 separate boxes labelled ‘Pay direct – no registration required’, “Pay through e-services – Registration required’, and ‘View Transaction Status’. Inside the ‘pay direct’ box, you will see a drop down menu which gives 3 options – Renewal Premium, Loan Repayment, Advance Premium Payment, and Loan Interest Payment.

Step 8 – You must then click on the ‘Renewal Premium’ option from the drop down, which will take you to a new page which shows 3 boxes indicating the steps involved in the premium payment process. Below the boxes will be 2 tabs, one marked Back, and the other marked Proceed. Click on Proceed.

Step 9 - The next page brings you to the first step of premium payment, which is Customer Validation. Here you must provide some policy related information. Specifically, you will be asked to provide your LIC policy number, your date of birth, your registered mobile number and email ID, and the instalment premium amount to be paid. After you have entered all this information, you will be required to enter a captcha code in the designated box as well.

Step 10 – Once you have entered all the information and the captcha code, click on Submit.

Step 11 – Next, you come to the Payment Particulars page, where you have to basically verify the information you have entered about your policy. After you have done so, click on the tab labelled ‘Checkout’.

Step 12 – the following page will again display a box with multiple columns which include your policy related information, along with individual columns for additional charges (if any) that will be added over the payable premium amount. These could be Service Tax, Education Cess, Late Fee, etc. The total premium amount payable will be shown in the box, along with a column ‘Pay Prm’. You need to tick the box under that column and then click on Submit.

Step 13 – This brings you to the last step of the payment process where will confirm the premium details and also select the mode of making the payment. You can choose between making payment via net banking through the BillDesk Gateway, or via Credit/Debit card (IDBI Gateway).

Step 14 – Click on the BillDesk Gateway to make payment via net banking. This will bring you to a page displaying a list of banks to choose from. All major banks are supported by LIC’s online payment service so customers can easily make online payments.

Step 15 – Click against the bank with which you hold an account and want to use for net banking to make the premium payment. Click on Submit to confirm.

Step 16 – You will be led to your chosen bank’s net banking login page.

Step 17 – Enter your net banking user ID, and password to log in to your net banking account. Once you have logged in, you will be asked to verify the payment amount.

Step 18 – After doing that, simply follow the instruction that are given to you to make the payment. Most times, for net banking transactions, you will be asked to provide certain grid numbers that are mentioned on the rear of your debit/credit card that is linked to the account.

LIC Online Payment for Registered Users:

If you have registered your policy on the LIC website, you can choose to pay premium for your policy via the e-Services facility offered via the LIC website. The steps to make premium payments using that facility are as follows:

Step 1 - Visit the LIC India website atwww.licindia.in. On the home page, locate the ‘Online Services section’ and click on the ‘Pay Premium Online’ tab.

Step 2 – This will redirect you to a new page where you will find 2 options – ‘Pay Premium through e-Services’, and ‘LIC Pay Direct’. Click on the first option to select it.

Step 3 – You will be redirected to the LIC e-Services page where you must click on the option labelled ‘Registered User’.

Step 4 – The following page you see will ask for your LIC login ID and password. Provide the necessary information and click on the Submit button.

Step 5 – To get your policy details, you first need to enrol your policy on the website.

Step 6 – Under the e-Services section, you will find a tab labelled ‘Enrol policies’. Click on it.

Step 7 – Once you have clicked on it, you will be asked to provide your policy number and the premium amount payable.

Step 8 – Next, you must click on the tab labelled ‘View enrolled policies’ that is on the left side of the page.

Step 9 – Next, a page with a code will be displayed. Fill in the code and click ‘Submit. Following this, you can view your policy details.

Step 10 – After you have entered the online services portal, you can view all your enrolled policies.

Step 11 - After viewing the policy details in customer service, you will be able to see an option “Pay Premium online” to make the payment online.

Step 12 – Next, click on the tab labelled ‘LIC Pay Premium Online’ and you will be able to see the list of policies that you have enrolled in your LIC account.

Step 13 – From this page, select the policies for which you want to pay the premium and click on the Submit button to confirm your selection.

Step 14 – You will be redirected to the payment gateway page where you can select to make the payment either via net banking or via your credit/debit card.

LIC Premium Payment Through Debit/Credit Card:

Besides net banking, you can also make premium payment for your LIC policy using your debit card. The process for doing so is simple and easy to understand. Payments via debit card/credit card will be done via the IDBI Gateway.

 To start off on the process to make premium payment using your debit card, you can simply follow Step 1 to Step 13 listed under ‘LIC Online Premium Payment Through Net Banking’. The steps after that have been listed here:

Step 1 – Once you click the circle against ‘IDBI Gateway’, you will be re-directed to another page where you can see the Convenience Fee and Service Tax accompanying every Card Type. Identify your card type and the amount of premium you have to pay to find out the service tax applicable on your payable amount. Next, click on Submit.

Step 2 – Next, you will be redirected to the page where you will be asked to enter your card details to carry out the transaction. Most often, you will be asked to enter your debit/credit card number, card’s date of expiry, CVV2/CVC2 number, name on the card, email ID, mobile number. Also enter the captcha code displayed in the box. Alternately, you may also be able to make payment using an OTP, ATM PIN, or a password.

Step 3 – Click on Pay. You will receive a receipt regarding the payment made on your email id that you have provided or the one registered with your LIC policy. Paying Life Insurance Policy Premiums Online FAQ’s What are the multiple benefits of paying premiums online?

As a policyholder for LIC, people have multiple benefits when it comes to paying premiums online. From issuing payment instructions, being able to authorise payments from any location, saving time, to instruction modification, there are a range of advantages of making premium payments online. One can also choose the establishment one wants to transfer from.

Which LIC Policy Premiums are Allowed Online Transactions? A.Insurance policies that can be accessed through Wide Area Network (WAN) or Metro Area Network (MAN) are allowed online transactions. Additionally, policies that are undergoing servicing in network branches, and the ones that have an ordinary payment mode are also allowed transactions digitally.

Is this facility free of Cost?

A.Yes, this facility is absolutely free of cost and hassle-free. Life Insurance Corporation has its tie-ups with certain banks wherein a monthly fee is paid by the former to the latter for every transaction taking place on the internet. The end-consumer (policyholder) will not have to pay anything from his/her pocket.

Which establishments have been authorised for collection of LIC premiums online?

A.The banks that have been authorised for this purpose are ICICI Bank, Bank of Punjab, Federal Bank, UTI Bank, HDFC Bank, Citibank, and Corporation Bank.

B. The service providers that have been authorised are Billjunction.com, Billdesk.com, and Timesofmoney.com.

Which are the Cities from Where Service Providers operate?

 A.  Billjunction.com has establishment in the cities of Delhi, Chennai, Bangalore, Mumbai, Pune, Hyderabad, Kolkata, and Ahmedabad. Timesofmoney.com 

B. operates from New Delhi, Bangalore, and Mumbai. Billdesk.com has establishment in the cities of Baroda, Surat, Kolkata, New Delhi, Mumbai, Pune, and Ahmedabad.

After creating an account, when can the premiums be paid?

A.Once you have successfully registered on the website, LIC will start sending invoices and receipts stating the due date of premiums. It also mentions the amount of money you will be required to pay as premium, any late fee applied, and so on.

A.On the website of your service provider or bank, login by using the accurate credentials (username and password). Once this is done, set down the policy number, the premium amount, email id, and any another necessitated information.

B. This process is usually a one-time requirement. Adding LIC as a biller along with the policy is an important prerequisite.