Are you struggling with the Life Insurance Corporation of India premium payment? We explain step-by-step methods for paying online and offline so you can stay worry-free.
How to Pay LIC Premium Online: A Premium Guide for 2025
Life Insurance Corporation (LIC) is no longer a hassle; paying your LIC premium has become more convenient. Payment methods are both online and offline. During this article/ tutorial, we will explore some interesting ways to easily meet your LIC payment.
Online Payment Methods for LIC Premium
1. LIC’s Official Website
In this modern world, everyone relies on the internet, payment can be made via their official website: www.licindia.in. Once you visit this site, navigate to the box that says Pay Premium Online
Also, there are two ways to pay Pay Direct which is without logging in, and ‘Through the Customer Portal, where you have to log in.
Net Banking and Debit, Credit Cards, and UPI are the preferred payment options.
You receive a detailed transaction receipt instantly once the payment is complete at any time of the day. Also, this service is very flexible as it is available at all times.
2. LIC Mobile Application
Download the LIC Mobile App and go through your Play Store or the Apple App Store.
The Login Section contains Sign up, and fill in the required documents to gain access to your account.
Select Pay Premium from the dropdown menu.
In the drop box, issue the policy number and any additional details necessary for completion.
Post this is completed, select the payment option, it is that simple.
It is allowed to monitor your policy information; it is convenient, and this suffices for payment records.
3. Third-Party Payment Processors
LIC cooperates with larger payment websites such as Policy Bazaar, which aids in paying for premiums in a simpler manner.
Visitors are encouraged to pay to avail the services.
Payment options include Net Banking and UPI.
Use only genuine and secure payment websites.
Confirm if the site is legitimate before making a payment.
Keep your transaction details confidential.
Offline Payment Options for LIC Premium
1. Visiting LIC Branch Offices Directly
Make your submission to the nearest LIC Branch office, and their staff will be ready to assist you during the operational time.
Don’t forget to tell them your policy number along with other relevant details.
Payments can be made using cash, cheques and demand drafts.
You need to collect the official receipt
Step 1 is suitable for any individuals who prefer transactions face-to-face.
If required, remember to put in the necessary and correct identification documents.
2. Authorized Collection Centers
Such centres aid in supplementary payments so you do not have to go to an LIC branch directly.
Students and businessmen do not have to go to a branch directly and can use their accounts.
These contain Franchisee (kindergartens for purchase) along with APT Online Limited, CSC governance Services India Private Limited and many more.
It is worth remembering that payments of up to 50,000 can be made in cash at these locations.
Payments at such centres will Invalidate Centre payments at such a receipt.
These places are especially useful in unreached areas to where LIC branches are not located.
Understanding LIC Premium Due Dates
1. Checking Your Due Date
One can check repayment deadlines directly at the mobile application or portal, and pick out the submission deadline directly from the policy documents, so the user does not need to work too hard for it.
Leaving reminders for yourself and the intended purpose is a great idea.
Check and add other payment reminders to avoid unnecessary penalties, fees, or payment policy set date can be avoided.
Payments that are made either after or during set deadlines can result in penalties.
Penalties that can follow such payments may even deflect or cause a lapse in the identifier lapse policy.
Keeping an eye on the timeline is essential for avoiding interruption in service.
2. Grace Period
LIC gives a grace period of 15 to 30 days based on the mode of payment.
You can pay the premium without facing any strictures during this timeframe.
The policy might cease to be active if payment is not made within the grace period.
There may be extra fees and medical evaluations needed to reactivate a dormant policy.
Complications may arise if premiums are not paid by the due dates, so it’s best to pay them promptly.
To avoid delays or missed deadlines, take advantage of the auto-debit facilities.
The Advantages of Paying LIC Premiums On Time
1. Dependent protection
You will not lose your insurance coverage if premiums are paid on time.
In case some unanticipated events take place, your family will be secure financially.
No delays happen in receiving policy benefits like loans and bonuses that are marked for payment.
Avoiding policy failure.
Having no payment issues shows discipline in finance.
You will not lose credibility from establishments that lend money if you maintain a reliable account.
2. Avoiding Extra Charges
If premium payments are delayed, it becomes mandatory to incur penalties or extra fees.
Consistent misses can terminate the policy, and that can lead to trouble.
Costs and procedures that are not needed are required to reclaim a suspended policy.
Staying penalty-free goes a long way in relaxing.
Payments on time mean limited stress when it is time to meet financial obligations.
Missing the deadline is eliminated by setting up automatic payments.
Changes over Time in Payments Made by LIC Premiums
As of the latest reports, LIC’s net premium income stood at ₹1.07 trillion, marking a 9% decline from the previous year.
Withdrawal of Policyholders’ Benefits and Charges Associated to Policy Closures Resulted in Net Losses for LIC.
Adverse market conditions did not impact the solvency ratio, which LIC managed to improve to 2.02, showcasing considerable financial strength.
Reduction in costs incurred with employee payout saw a 30% drop, aiding profit improvement.
Profits observed a rise of 17% quarterly because of cost reductions in other sectors.
LIC has successfully pioneered and adapted as the market leader to changing policies and regulations.
How Mobile Apps Guide to LIC Premium Payment
1 Premier Mobile Applications for LIC Payments
Payments can be accessed and completed via PAYTM, PHONEPE, GOOGLEPAY and through the official app of LIC.
Such applications feature straightforward controls and allow real-time transactional tracking.
Policies saved on the app can be used for faster future actions for easier payment completion.
They provide the ability to view payment history, along with setting reminders.
Ensure the aforementioned apps have been downloaded from official stores as necessitated by the app being updated.
Trans active Trust emerges if carried out through branches of the RBI, allowing guaranteed security.
2 Benefits of Mobile App Payments
Accessible at any time and from any place, mobile functions allow for easier payments.
There is no need to access a laptop or travel to branch offices, reducing time expenditure.
Receipt downloading can be done instantly after payment completion,n enlarging efficiency.
Notifications and alerts assist in preventing overdue tasks.
Apps also support multiple payment modes like UPI, wallets, cards, and net banking are the best options
Secure PIN and biometric logins protect your account forever.
How to Make LIC Payments Securely
1. Best Practices for Online Safety
Conduct transactions only on certified websites and authorised applications.
Do not make payments while using public Wi-Fi networks.
Always ensure that “https://” appears in the link before providing details.
Under no circumstances share the OTP as well as banking information with anyone.
Enable two-step verification where possible.
Security updates for applications and devices should be routinely maintained.
2. Reporting Unusual Behaviour
Immediately alert your bank and LIC if there are payments made without your consent.
You may file a complaint through the “Customer Support” section of LIC’s official website.
Prepare and present any requisite transaction IDS and screenshots.
In case these issues can’t be resolved online, go to your nearest LIC office.
Always maintain documentation of your payments and receipts.
Notify the Cyber Crime unit about online fraud at cybercrime.gov.in.
Payment of LIC Premiums for NRIs
1. Payment Methods for NRIs
NRIs are eligible to pay LIC premium fees using international credit/debit cards or through NRE/NRO accounts.
Payments made using internet banking tied to an NRE account are also accepted by LIC.
Some banks even provide auto-debit for LIC from foreign accounts.
As long as there is a stable internet connection, the online LIC portal is accessible worldwide.
Use foreign payment gateways authorised by the RBI when making payments from outside the country.
Consider the exchange rate before opting to pay in INR.
2. Getting in Touch with LIC from a Foreign Country
You can reach the NRI customer care section licindia.in/nri for policy information or directly phone the NRI customer helpline: +91-22-6827 6827
Dedicated contact sections for NRIS are also available on the LIC official application.
In addition, LIC Mitra, my virtual assistant, is accessible globally.
NRI customer service can be contacted via video call appointments through the LIC portal.
Follow new policy changes, offers specified for NRI on licindia.in/nri
– In some countries, LIC overseas branches provide specialised local services.
Steps to Take in Order to Get Tax Payment Receipts
1- From The LIC Portal
Log in to your customer’s account, then navigate to the website licindia.in
In the Payment History section, click on each transaction view or Policy premium paid.
Select the financial year you paid and the policy number you hold.
For record purposes, you are requested to print or download the receipt.
It will include the policy number the payment was made, the mode of payment as well as the date of payment.
It is important you enable pop-ups in your browser to download the receipt.
2. Using Mobile Applications
Open the app and download the Policy services you need.
Go to Policy Services > Payment History.
Choose the payment policy you are dealing with and the periods you want payment to be made.
By clicking the icon that resembles a paper file, you will receive the booklet.
The document they release is adjusted for recording for the alimony tax claimed.
It’s also possible to send it through email while using the app.
To retrieve receipts easily, make sure to save your login details safely.
Configuring Auto-Debit for Payments
1. Why Select Auto-Debit
With auto-debit, you will never again miss a due date.
Each month or quarter, there is no harder work than making payments. With this, you save time.
This service is provided by LIC through ECS, NACH, or bank standing instructions.
Without the worry of lapses, you stay protected continuously.
This feature eliminates a penalty or revival fee from occurring.
Your discipline improves financially, as well as in credit, with auto-debit set on.
2. How to Set It
From the site, download and complete LIC’s ECS/NACH mandate form.
Bring it along with a cancelled cheque to your nearest branch.
Through the net banking of your bank, you can set an auto-debit.
Schedule the payment date a few days before the due date, to 2 – 3 days just in case.
You can check in the LIC portal to see if the auto-debit status is checked.
You can submit a written request to LIC anytime to modify or cancel it.
Tax Advantages of Paying Premiums with LIC
1. Deductions under Section 80c
Tax deductions are allowed for LIC premiums under section 80c lic of the Income Tax Act. Deductions may be claimed for a maximum of ₹1.5 lakh every financial year. The insured must be the policyholder or the spouse or child of the policyholder. Only basic term life policies are accepted (without riders or servicing fees).
Keep the payment receipts and Form 26as for the purposes of ITR filing. It is best to submit filings in advance of deadlines in order not to attract penalties.
2. Filing of Tax Returns with LIC Deductions
Log on to the Income Tax Portal to begin the filing process.
Choose the ‘Deductions’ section and enter details of LIC premium under section 80C.
Attach copies of receipts or Form 16 after receiving them from the employer.
Check all claims to make sure the necessary validation is done prior to submission.
Once confirmed claims are correctly filed there a refund is available from tax deduction if too much tax has been paid.
Consult a CA or tax filing program if they are in doubt concerning the form.
Frequently Asked Questions LIC Premium Payment
1. Is it possible to change the frequency of payment?
Yes, you have the option to change the frequency to monthly, quarterly, semi-annually, or yearly.
Submit the requested change using the LIC customer portal or visit the nearest branch.
From your next payment cycle, the new frequency will take effect.
You are permitted to change this one time on policy year.
Ensure that your banking institution’s auto-debit configuration does not require adjustments as well.
It is advisable to understand the terms and conditions on the policy offered regarding changes to frequency limits.
2. What if by accident, I make a double payment?
Within 7-10 working days, LIC will return duplicate payments.
A refund can also be submitted through email or customer support.
Make sure to attach reimbursement request forms along with relevant payment reference numbers and their respective bank account details.
The refund is credited back to the account or card used to make the payments.
Otherwise, it is advisable to seek out LIC grievance procedures if there is no remedy offered.
For precaution, make sure to keep the documentation of both transactions alongside the emails.
Conclusion: Your LIC Premium Payment Options
Now that we have established the ease of making your LIC premium payments. There are so many options available to pay via apps, wallets, UPI and more. You also control your policy whenever and wherever you need.
We have reviewed the benefits and safe secure payment methods for paying your LIC premium in India. You have ample opportunities, whether you are tech-savvy or you prefer the old-fashioned route.
Reports by legitimate sources and customer feedback show that online payment at LIC is fast and reliable. You can rest assured that you can avoid any late payment fees, and your family’s financial well-being is assured. If you want to know how to make your LIC premium payment online? We have provided the steps to do so in a secure manner.
Our Recommendation: Don’t Delay
You shouldn’t delay in collecting the benefits of your LIC policy. Visit the LIC webpage, pay whichever way is appropriate to you, and keep your policy active. Keeping your LIC policy active would be a great way to build a strong financial foundation prior to retirement.
There is also potential tax savings. Are you wondering how much tax is saved while paying LIC premiums? Check out this post of ours: LIC Tax Benefits Under Section 80c Explained.
Are you unsure which LIC policy is ideal for your economic situation? Look at our Policy Comparison Guide or inquire with your local LIC adviser today.
