Investors continue to choose Life Insurance Corporation of India (LIC) policies over other investment plans. But, paying premium on time is one of the difficult tasks they face. LIC has significantly improved its services to boost the customer experience and now allows its clients to pay their premiums online. Registered customers who have enrolled their policies can avail to this facility.

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People can also choose to pay the premium through UPI apps or LIC portal.

Here is step-by-step guide to pay your premium online.

Step 1: Visit the official website. 

Step 2: User can click on the link ‘Pay Premium Online’ to check a list of policies whose premium is due.

Step 3: User has a choice to select the policies for which he/she wants to pay premium.

Step 4: User then is directed to a page where he/she can choose from multiple banks for payment and login page of the selected bank.

Step 5: At the bank site one will need to login with the net banking username and password.

Step 6: On successful login, complete the payment.

Step 7: Post the successful transaction, a digitally signed e-receipt will be generated as well as e-mail.

Additionally, you may pay your LIC premium via the company's official website, net banking, credit cards, and UPI applications like PayTM, PhonePe, and Google Pay, among others.

A step-by-step guide using UPI apps

Step 1: Open the Google Pay app

Step 2: Tap on ‘Pay bills’

Step 3: Scroll down and select ‘View all’

Step 4: Tap on ‘Insurance’

Step 5: Scroll down, tap on LIC

Step 6: Enter your policy number, email ID, and link your account

Step 7: Tap on ‘Proceed to Pay’ for the payment.

Step 8: Select the bank, enter UPI ID and complete the payment.

One may follow the similar procedure to pay the premium online on other apps as well.