LIC Premium payment: How to pay LIC Premium online through SBI net banking, PayTM, Credit card and more

• By Adil Shaikh -
Published On: May 20, 2022

You can pay your LIC premium payment online. That's right! the biggest insurance and investment group of India Life Insurance Corporation (LIC) allows you to make payments without visiting the bank or nearby ATM. LIC premium payment can be done online using net banking, Credit cards, UPI apps like PayTM and PhonePe, and more. In addition to the convenience, the online methods also offer rewards such as cashback for making payments for the LIC policy. Here's a quick look at the many methods you can use to pay LIC premium payment online:

LIC Premium payment

The LIC Premium payment depends on which plan you have taken, as well as your age (in health insurance plans). This premium has to be made online to keep the policy up and running.

How to pay LIC premium online using UPI apps

Google Pay

It is really easy to pay your LIC premium in Google Pay. Just do the following:

• Open the Google Pay app
• On the home screen, tap ‘Pay bills'
• Now you can either search for LIC on the search box, or scroll down, and select ‘View all'
• From there tap ‘Insurance'
• Now scroll down and tap on Life Insurance Corporation of India (LIC)
• Enter your policy number, email ID, and link your account
• Now, your LIC policy will be linked and you can tap on the refresh button to see if you have any pending payments. 
• In case you have any payment to do, tap on ‘Proceed to Pay'
• Select the bank, enter UPI ID and complete the payment.

PhonePe

The process is similar to that of Google Pay:

• Open the PhonePe app
• On the home screen, under recharge and pay bills, tap on ‘See All'
• Scroll down, and under ‘Financial Services and Taxes', tap on ‘LIC/Insurance'
• Now tap on Life Insurance Corporation of India (LIC)
• Enter your policy number and your email ID
• Tap on ‘Confirm'
• The app will display your outstanding due
• Select ‘Confirm and Pay' and complete the payment

Paytm

• Open the Paytm app
• Now scroll down and under Recharge and Bill payments, tap ‘View More'.
• Now scroll down, and under financial services, you should see LIC/Insurance, tap on it
• Now scroll down and tap "LIC of India"
• Now enter your policy number and tap ‘Proceed'
• Enter all the necessary details that are prompted
• To get any additional offers or cashback, select any of the available promo codes
• Select payment mode as UPI and complete the transaction

Amazon Pay

Now you can also pay for your insurance premium through Amazon Pay UPI:

• Open the Amazon app
• Tap the bottom right hamburger menu, and then tap on Amazon Pay
• Now scroll down, and under Insure and Invest, tap on Insurance Premium
• Select the insurer as ‘Life Insurance Corporation of India'
• Enter your policy number and email ID (for receipt)
• Tap on ‘Fetch Premium'
• Enter all the necessary details that are prompted
• Your policy details will be displayed with the due amount
• Click on Continue to Pay
• Select Amazon Pay UPI, and enter your UPI pin to complete the payment

How to pay LIC premium through LIC website

If you feel that the payment method is less secure on phones, or if you don't have a UPI ID yet, fret not, you can even pay through the LIC website. If you are paying for the first time, you can pay as a registered or a non-registered user. We will detail both the ways, but we recommend you to get registered, as it will save you a bit of time when making your next payment.

Pay LIC Premium for Non-Registered Users

If you are a non-registered user:

• Go to the LIC website here.
• Click/Tap on ‘Pay Direct' under non-registered users
• Select "Renewal Premium" or "Advance Premium", whichever you are going to pay.
• Now click/tap on "Proceed"
• Enter the Policy number, Date of Birth, Mobile number, instalment premium amount, and email ID
• Click on "I Agree" checkbox and select "Submit"
• On the next screen, you will see all the details of the mentioned policy
• Check all the details and click on "Proceed"
• Next, click on "Check & Pay"
• On the next screen, payment options will show up. You can pay via Internet banking, UPI, credit cards, debit cards or e-Wallets
• Click on "Check & Pay" again
• Select your preferred payment method and complete the payment
• Once the payment is successful, download the receipt.

Pay LIC Premium for Registered Users

If you are a registered user:

• Go to the LIC website here.
• Click/Tap on ‘Pay Premium through e-Services' under registered users
• Click/tap on registered user
• Login using your Email ID/user ID/ Mobile number, password, and Date of Birth
• Click/tap on "Sign In"
• Select "Individual Policy details"
• Select your policy from the options shown on the screen (in case you have multiple policies)
• Click on the policy you want to make payment for 
• Scroll down and select "Check & Pay" under Billing Info
• On the next screen, you will see all the details of the mentioned policy
• Check all the details and click on "Check & Pay"
• The next screen will display the billing invoice with the amount to be paid, click on "Check & Pay" again
• On the next screen, payment options will show up. You can pay via Internet banking, UPI, credit cards, debit cards or e-Wallets. Click on "Check & Pay" once again
• Select your preferred payment method and complete the payment
• Once the payment is successful, download the receipt.

How to pay the premium through LIC app

It is pretty easy to pay the premium using the LIC app,

• Download the LIC Pay Direct app from the Play Store/App Store
• On opening the app, tap on "Proceed"
• Select "Renewal Premium" or "Advance Premium", whichever you are going to pay under Pay Direct
• Tap on Proceed
• Enter your policy number, instalment premium, Date of Birth, email ID, and mobile number' and tap on "Submit"
• On the next screen, you will see all the details of the mentioned policy
• Check all the details and click on "Proceed"
• Next, click on "Check & Pay"
• You then complete payment through various methods such as UPI, credit/debit cards, e-Wallets, etc.
• A payment receipt would be sent to your email ID

LIC Premium payment online and credit card payment offers

Best offers on Credit card

• HDFC Customers can avail 1 percent cashback on paying premium through the HDFC credit card (Max Rs 200).
• Get Unlimited 2 percent reward points using Amazon Pay ICICI Bank Credit Card on Amazon
• No additional charges for premiums paid using a credit card on the LIC website

These are the offers that you get on LIC Premium payments through credit cards. Now, the process of paying via credit card is pretty simple. Just follow the steps above on payment through the LIC website. On reaching the payment gateway, select credit card and enter your card details After entering your card details, you will get an OTP. Enter, and your payment should be processed.

Best offers on online payment of LIC Premium

• Scratch card from partners on Google Pay
• Coupon codes for cashback and discounts on hotels, travel, and more on Paytm
• Various coupons from multiple brands when paid using the PhonePe app
• Win Daily scratch cards on Amazon
• Up to Rs 25 cashback on Amazon Pay