LIC Premium Payment

How to do LIC premium payment online?

There are several ways to do the LIC premium payment online. Like LIC official website, premium payment points, PayTM, banks, ATMs etc.

LIC premium guidelines

 

When do I pay premium?

It is best to pay your LIC premiums in at least a week in advance of your policy premium date. The next policy premium due date is mentioned on the premium receipt. With the introduction of direct bank payment / ECS / NACH it has become very convenient to make sure you never miss your policy premium payment. Just fill a simple form and submit at your LIC office or with your agent to activate direct debit of premiums.

How do I pay premium?

Premium can be paid online or offline as per your convenience. You can also set up auto debit of the premium payment directly from your bank account.

How to check policy status?

There are several ways to get your policy status. You can register your policy online at the LIC official site, walk into the nearest LIC branch or ask your LIC agent.

How can I revive a lapsed policy?

A policy revival form is available with your branch or agent. The KYC would also be needed to submit along with this form. A few medical tests would be required in case of revival of the policy depending on the policy holder’s age, profession, policy terms, etc.

Is my policy eligible for a loan?

How much loan can I get against my policy Most of the LIC policy have this inbuilt feature of partial withdrawal or loan on the policy. Get in touch with your nearest branch or agent to know your loan eligibility and to understand the simple process of instant loan.

Is there any grace period on premium payment?

Generally speaking one month grace period is available on most of the policies.

LIC App PayDirect

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LIC PayDirect App

LIC of India has launched its official app to make payments policies. The app is available for Android phones on Google App store at the link.

How to do online premium payment Video

See the simple steps in the video to make an online payment. Just visit the site www.licindia.in

Premium Collection Agent

 

There are several ways to pay LIC premium online or by visiting LIC office or collection centers in Gurgaon. LIC has many authorized LIC Premium Payment Agent in different locations that can help policy holders to deposit their premiums timely and with out any hassle.

  • LIC main office (Plot 104, Sector 44, Gurgaon)
  • JMD REGENT SQUARE, MG ROAD, GURGAON
  • LIC OF INDIA, P&GS EXTN. COUNTER, G-12, JMD REGENT SQUARE IV
  • PALM COURT 7TH FLOOR, PALM COURT, 20/4, MDI CHOWK,, GURGAON

Premium Points

 

  1. 71 MOYAHAL COLONY SECTOR-40 GURUGRAM – 122001
  2. House no. 310 , Sector 14 Near Payal Cinema GURUGRAM – 122001
  3. B-21/20 DLF PHASE-III GURUGRAM HARYANA – 122001

Online Premium Payment

Easy step to step guide

Users who have registered themselves on the LIC official site (www.licindia.in)

OR who have their email id ad mobile phone number updated in LIC records can visit the site at the link (https://www.licindia.in/Home/Pay-Premium-Online)

STEP 1

 

STEP 2

 

STEP 3

 

STEP 4

 

STEP 5

Premium Payment Through PayTm

All policy payments can be made easily on through PayTM as well. Poliyholders can visit the PayTm site or download the app on their android or Apple phones for easy payment of premium.

Some points to keep in mind while making LIC premium payment through PayTm. 

  1. You have to complete your KYC with PayTm to be able to use the app.
  2. Policies with late fees can also be paid through PayTm. Just put in your policy number and the app will show you the total amount due including late fees if any.
  3. You get your premium receipt instantly

What is NACH Mandate?

NACH is a new method of paying your LIC premiums directly from your bank account. Its a simple form that you have to submit with LIC along with your bank details filled in. Once submitted and approved by the bank the premium of your policy would be directly credited from your bank account.

LIC NACH Mandate

LIC also has a ECS facility for payment of premium. Policy holders can avail this facility to pay their policy premiums online every month directly from their bank account. LIC ECS facility to make monthly automated premium payments is called NACH. The full form of NACH is National Automated Clearing House (NACH) 

LIC NACH FORM Download (PDF)

 

NACH Mandate form

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