Pay LIC Premium Online Using Credit/Debit Cards

No more scheduling a separate time to go to either agent or to the LIC branch to pay the premium amount, no more tensions concerning your Insurance policy. Now everything can be done online, and you can get update notifications concerning your plan.

The Insurance also reminds you to pay the premium amount through the SMS and Email ID process. To pay online, it won’t take time; believe you will enjoy the online payment process.

The Life Insurance Corporation initiated multiple ways to pay the premiums in online to the policyholders. Through the online payment, the customers can choose Debit or Credit card to pay their premiums.

In very recently, the LIC policy started the Payment Gateway has instituted through these customers can make real-time premium payments.

The Conditions to pay through Debit/Credit:

Before going with the online through Debit or Credit options to pay the premium amounts, once go through the below conditions, understand them well, and then proceed further.

• The collection of premiums can only be made for the ordinary and enforce policies like yearly, half-yearly, quarterly, and monthly.
• The salary saving scheme is the premiums cannot pay through the online portal.
• Premiums for ULIPs can also pay through the online scheme.
• The RS.5 is the minimum penalty of paying premium delay.

Below are the permitted banks to pay your premiums through the online option:

• Axis Bank
• Allahabad Bank
• ICICI Bank
• IDBI Bank
• Karur Vysya Bank
• Kotak Mahindra Bank
• State Bank of India
• State Bank of Hyderabad
• Ratnakar Bank
• UCO Bank
• Vijaya Bank
• Yes Bank
• United Banks of India.
• Karnataka Bank.

The above mentioned are primary services and the large number of users to those Banks, we do have several Banks apart from the above mentioned.

The procedure to pay though online with Debit/Credit card:

• If the policyholder doesn’t have an online account, the holder needs to generate a user name and the password to proceed to the next process.
• Once the registration complete, the holder needs to login with the username and password on the portal.
• It is imperative to enter the correct premium amount.
• In case the policy had taken on behalf of His/Her family members, then give their Date of Birth to pay the premium.
• Once the required details enrolled and premium amount selected. Now, click on the pay premium online option.
• Here, the policyholder required to select the premium options from the Selection box.
• Once the payment amount selected by the holder, again, the process makes you confirm by selecting the premium once more.
• We are moving forward to select to pay the premium through net banking either with a Credit or Debit card.
• It is the holder’s choice to select the payment option which the LIC scheme allowed to pay through that selected Bank or Card.
• For the Debit card use payment Gateway (PG).
• For net banking, payment use BillDesk.
• The Payment through Credit card is IDBI.
• Now, select from which you belong or from which bank you ready to pay the premium.
• The holder will redirect to the bank portal and where the holder needs to select the premium again to confirm.
• The receipt of the payment will print online.
• The payment success mail will send to the given mail address.
• Take a copy of the payment receipt for further use.
• If the payment process went wrong for some other reason, the holder can check the bank statement and do the process once more.

If the amount transferred twice, the other moved money will return soon after receiving it. Why confuse and worry! Do the process with care, and then nothing will go wrong. As everyone agrees, the online method is the best option to choose and to pay through the online portal.