Life Insurance Corporation commonly known as LIC is India’s most prominent life insurance company. Having insurance will help you in many ways. In this digital era, many LIC policyholders are still standing in a long queue for their LIC premium payment process at LIC offices. But in this guide, I will show you how to pay LIC premium from PhonePe online at your fingertips.
How To Pay LIC Premium Online
Every company in the world going online so that their customers can avail various services online while sitting at their home. LIC has made easy for their customers to pay their premium online. Now you can use BHIM UPI, Debit Card, Credit Card to pay your LIC premium from PhonePe. Every time you need your LIC policy number while online payment whether you are pay LIC premium from Google Pay, PhonePe, Paytm, etc.
7 Ways To Pay LIC Premium
LIC is now offering 7 different ways or methods from which anyone can their premium online. While writing this post I only know one method which is directly from their branch office to make any payment. After lots of research, I get to know there are various different options online and offline are available to pay life insurance premium online.
I have listed all the options for LIC premium payment and some with their step by step guide.
1. Premium Payment from Branch (Oldest One)
2. LIC Premium Payment Online From Google Pay
3. LIC Premium Payment Online From PhonePe
4. LIC Premium Payment Online From Paytm
5. Online LIC Payment Through LIC Portal
- LIC Pay Direct(No Registration Required)
- Registered User (First Create LIC Account To Pay Premium Online)
6. LIC App For Premium Payment – LIC Pay Direct
7. LIC Premium Collection Through Authorized Banks (Axis Bank, City Union Bank, IDBI Bank)
You can also watch our video to pay your LIC online.
Step By Step Guide To Pay LIC Premium Using PhonePe
LIC has taken a great initiative from which their policyholder can pay their premium online. Nowadays there are various LIC payment methods are available to pay premium online. As you have already read a little bit about the guide. It’s time to dive into the step by step guide on LIC premium online.
Step 2: Now you need to tap on LIC Premium under the recharge and pay bills sections.
Step 3: Now you need to enter your LIC policy number and email address to receive your LIC premium receipt.
Step 4: After entering the policy numbers and email id, PhonePe will fetch your policy details from LIC like customer name, due date, and the premium amount which you need to pay.
Step 5: There are various payment methods are available to pay LIC premium from PhonePe like BHIM UPI, Debit Card & Credit Card. Use any suitable method to pay your LIC installment. Once payment is successful you need to tap on view receipt to download payment receipt or slip of your premium.
Step 6: After this, a new screen will open that contains your LIC premium payment receipt. You can download and print the slip or save it on your phone.
You can download your LIC premium receipt or slip directly from your email address which you entered while linking your LIC policy to PhonePe. You can download your payment slip in the pdf form. Save it for future reference.
FAQ (Frequently Asked Questions)
Once your payment for the LIC premium is completed from PhonePe then only you can download your LIC premium receipt online. You need to click on view receipt after a successful payment is completed and to view and download your premium receipt online. You can also print that receipt for future reference or also save it on your device.
Yes, you can pay your LIC premium online if you don’t use net banking. You can use Debit Card, Credit Card, UPI to pay your LIC installment online. After paying your LIC you will get the receipt of your premium in your email id in the pdf form.
You have missed the payment for your LIC premium and the due date has been passed. Don’t worry you still have lots of time to pay the premium. Because LIC offers a grace period of 15 days when you haven’t paid your premium within due dates. Make sure you can pay your premium in 15 days from the due date. Also, there are some exceptions in plans in which you will not get the grace period.