LIC allows policyholders to pay LIC premiums online, at banks, merchants, franchises, etc. Thus, a policyholder can make premium payments through/to:
- Debit card, credit card or net banking on the LIC website.
- Axis or Corporation authorized bank branches.
- Suvidha Infoserve, AP online, MP online and other franchises.
LIC Online Premium Payment Online
To make premium payments online, a policyholder must:
- A policyholder must register on the LIC website and have their LIC policies enrolled. Thus, policyholders out of India can use this facility as well.
- Premiums payments can be made only within 30 days of the due date. Premiums can be paid for policies that are currently in force and ordinary policies. There is no service fee or transaction charge.
- A policyholder can choose to pay for their LIC policy using their net banking, debit or credit card. Following which, the policyholder must enter the payable amount.
- The receipt of payment is available on the portal and in your email inbox.
- Payments made after the due date (late payments) will attract a late fee of 8%.
LIC Online Premium Payment For Registered And Unregistered Users
Unregistered policyholders can pay their LIC premiums online as well. To do so, a policyholder must:
- Log on to the LIC website and click on Online services. Select the pay premium online option.
- The page will generate two options. No registration required (pay direct) and registration required (pay through Eservices). Thus, depending on if registration is done or not, select the option.
- The page will generate three options. Loan repayment, renewal premium or Loan interest payment. Thus, click on renewal premium.
- The policyholder must then enter their policy number, phone number, email ID, Date of birth, etc. and the payable premium amount.
- The page will then generate the transfer to the payment page after an applicant confirms their details. Following which, the policyholder must select net banking, credit or debit card to make the policy payment online.