How to pay LIC premium using Google Pay, Paytm and other online payment gateways: Step-by-step guide

LIC Premium Payment Online: Paying Life Insurance Corporation of India (LIC) premium online adds ease to the otherwise hectic lifestyle of people. One may consider paying the premium online through UPI apps or LIC portals.

Online Payment Gateway- LIC

Online Payment Gateway is an initiative of LIC to provide users with functionalities online.

Important component- payment gateway (PG) initiative provides real-time payment of renewal premium-dues through the portal.

Registered customers who have enrolled their policies can avail to this functionality.

Click Here For Latest Updates On Stock Market | Zee Business Live

Step-by-step guide on how one can go about using the facility

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.

Moreover, LIC premium payment can be done using the official website, net banking, credit cards and UPI apps such as 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 LICStep 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 similar steps for paying the premium online on other apps.