The Life Insurance Corporation of India or LIC, in short, is one of the oldest and the most admired insurance and investment corporation in India. It was set up in 1956. Since then it has achieved the reputation of the most trusted life insuring solution to the Indian population.
With changing time and increasing population, this life insurance company has molded itself and extended its features and services. It also enhanced its horizons to meet the varied needs of its customers. The convenience and support offered by LIC make it even more popular among common people.
How LIC Make Payments More Convenient?
LIC of India is not only the largest public sector investment company but also the smartest one. Its ever growing reputation always accelerated the improvement of its services. Convenience of the customers always comes first to the company.
LIC takes the best possible care of the changing needs of their investors. Introduction of Online payment method is one such step. It is absolutely understandable that no one want to spend hours in long queues for the payment of their premiums. Hence, LIC online premium payment facility is becoming more convenient for its clients.
Online Payments of Premiums Availing LIC Website
LIC has made the process of paying premiums hassle-free its clients by allowing them to make their payments online using the LIC website. Clients can pay their premiums safely within the desired dates in no time. The company permits various trusted ways of payments. Payments can be made via:
- Internet banking facility or
- Using credit or debit card.
However, it is to be remembered that this website can only be utilized by the registered policy holders who have already enrolled their insurance policies.
Facilities Provided by LIC Website
Some of the common benefits of using the online mode of payments are:
- Every registered customers can avail this payment opportunity to submit their premiums on time. This website ensures the collection of premiums of all regular policies which may accept premiums annually, semi-annually, quarterly or on monthly basis.
- This website opens LIC premium payments for the customers living abroad. Payments made by online banking or credit and debit cards, allow the clients paying their premiums from any part of the globe.
- This online facility does not claim for any extra charges from its customers.
- Almost all the major banks in India support the payment of premiums via online banking through LIC website.
- Moreover, the website generates receipts for every payments made on its portal. It can also be directed to your registered mail Id and of course, can be downloaded and printed as a proof of payment.
- It accepts the payment of the premiums one month before its last payable date.
- It deducts surplus charge of 8% in case of late payment of the premium.
LIC Premium Payment at LIC Website for Enrolled Clients
Using the LIC online payment mode is one smooth experience for its customers. Policy holders make their payments online by following few simple steps:
- Open the official website for LIC, India, i.e. ‘www.licindia.in. Go to the ‘Online Service Section’ and then select ‘Pay Premium Online’ button.
- This forwards to a page containing two options. Select ‘Pay Premium through e-Services’.
- This redirects to the e-Services provided by the website. Choose the ‘Registered User’ option there.
- Fill in the ‘Log in’ details then enter the password and finally press the ‘submit’ option.
- In order to generate the details of your policy you have to register it first.
- For enrolling your policy go to the e-Services and press the ‘Enroll Policies’ button.
- Fill in the policy details including policy number and the sum of money to be paid as premium.
- The registered policies can be visited by pressing ‘View Enrolled Policies’ button situated at the left.
- Type the code asked and then press submit. This lets the user to view all the registered policies.
- Go to the ‘Pay Premium Online’ and then select ‘LIC Pay Premium Online’.
- Choose among the listed policies whose premiums are to be made and then press ‘submit’ option to confirm.
- You are forwarded to payment portal which allows you to pay either by using internet banking or by credit or debit card.
LIC Premium Payment – the Non-Registered Clients
This website also enables the non-registered customers to pay LIC premiums online by considering few simple steps:
- The ‘Pay Premium Online’ option within ‘Online Service Section’ forwards to a page consisting two buttons – ‘No Registration Required – Pay Direct’ and ‘Registration Required – Pay Through e-Services’. Press ‘No Registration Required – Pay Direct’ button to proceed.
- Select ‘Pay Direct’ on the subsequent page. Then select ‘Renewal Premium’ from the options on the ‘Pay Direct’ option and finally press ‘Proceed’.
- Fill in the information asked on the following page, then type the ‘Captcha Code’ and press ‘submit’.
- This forwards to the payment portal page, press ‘Checkout’ button.
- Numerous columns containing the payment details are displayed and an option ‘Pay Prm’, select that option by putting a tick mark on it and then press ‘Submit’.
- This takes to the concluding step where payment is made through Internet banking/credit card/debit card. Select the Online banking option.
- A list of banks is displayed. Select your bank and press ‘Submit’.
- ‘Log In’ to your desired bank and validate the sum to be paid.
- It may ask for grid numbers in case you choose to use debit or credit card. The grid numbers are present on the back side of the card.