Life Insurance Corporation of India (LIC) is the largest insurer in India that provides a number of insurance products with various other services to keep the track of policy status, premium details and pay policy premiums. Earlier insurance product holders used to pay their premiums at LIC office or through LIC agents, but now they can easily check LIC policy status and pay their premiums online using the online payment facility. The online payment facility is applicable for premium payments, policy renewals, tracking policy details etc.
In order to use LIC online payment service, you need to get registered with them first. After successful registration, you can change or enter your profile informations and list all the policies registered under your name. You can also enroll all the policies of your family member in your account too, to know their policy status, premium due dates etc, however, you are allowed to pay your policy premiums only. Your family members need to create separate accounts to make their payments.
Adding Policies to LIC Online Account
After successful registration, you can login to your online LIC account by providing the valid login details such as username and password. In the left side of your account homepage, you can find a number of of tabs. In order to add polices to your account, click Enroll Policies and provide the policy details such as name of the policy holder, policy number and premium amount. Once you provide all informations correctly, it should reflect the policy details and display the policy under your account. Once the policy gets added, you should be able to pay premiums. Similarly you can see all added policies under your account by clicking the Enrolled policies tab, which displays the lapsed polices as well.
In order to pay pay your policy premium online, you need to click on Pay Premium Online tab from the right side tabs menu. Once you click the said link, you will land on a page that displays a list of all your polices that are due to be paid. Select a policy to make the payment and proceed to pay it online. LIC supports all major Indian banks net banking payment system with Citibank and Union bank debit card payments. Unfortunately you can’t pay your premium dues online using a credit card as of now.