LIC: The policyholder of Life Insurance Corporation of India (LIC), the country's largest life insurance company, can now pay premium through UPI. Earlier, online premium payment could only be done using online banking and debit/credit cards. Now LIC has increased its facilities and has given the option of paying premium through UPI platforms like Google Pay, Paytm.

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Here's the step by step guide on how to pay LIC premium with UPI:

Google Pay App:

Step 1: Open the Google Pay app on your smartphone

Step 2: Go to the bill payment option and tap on it

Step 3: Choose the insurance option in Finance & Taxes

Step 4: Select LIC and tap on it.

Step 5: After this, the option to link the policy will appear.

Step 6: Enter the policy number and your e-mail id in it - click on the link account and review your full details

Step 7: Once the policy is successfully linked, you can pay the premium.

Step 8: UPI PIN has to be entered for payment and your premium will be credited within minutes

Paytm App:

Step 1: Open the Paytm app on your mobile

Step 2: Go to the 'Recharge & Bill Payments' option and tap on view more

Step 3: Now, scroll down and go to the 'Financial Services' section.

Step 4: Select LIC/Insurance option and tap on it.

Step 5: Choose LIC.

Step 6: After this, the option 'Pay Insurance Premium' will appear.

Step 7: Enter details and click on proceed.

Step 8: You can pay the premium once the policy is successfully linked

Step 9: UPI PIN has to be entered for payment and your premium will be credited within minutes