Pay Premiums Online:
Online Payment Gateway is LIC’s initiative to provide you with on demand service within a few clicks! You can now have many of the functionalities that were available only at a branch office, online at your fingertips.
The payment gateway (PG) initiative is an important component of the offer. It provides for real-time payment of renewal premium-dues through the portal. This functionality is available only to registered customers who have enrolled their policies.
Benefits:
You as our policyholder:-
Online Payment Gateway is LIC’s initiative to provide you with on demand service within a few clicks! You can now have many of the functionalities that were available only at a branch office, online at your fingertips.
The payment gateway (PG) initiative is an important component of the offer. It provides for real-time payment of renewal premium-dues through the portal. This functionality is available only to registered customers who have enrolled their policies.
Benefits:
You as our policyholder:-
- Can decide and authorize payments 24hrs a day * 7days a week because of anywhere & anytime access to internet.
- Can issue payment instruction within the comforts of your home or office, and avoid personal visit to LIC branch
- Will save time by not waiting in queues for making the payment.
- Can avail the free service from LIC, as you don’t have to pay any charges to LIC or its authorized agencies for this additional benefit.
- Can choose the bank account you want to pay from, any or all of your bank accounts can be registered with the service provider.
- Can decide in advance the date on which you want your account to be debited.
- Can choose to modify your instructions during the intervening time.
- Will get reminders and alerts by email from the banks and service providers about the premium dues.
- Can avoid expenses of postage/courier in sending the remittance to LIC.
- Can avoid demand draft/pay order charges for outstation policy premiums.
- Can also view your premium dues and other policy details
- Policies which are being serviced in networked branches, or those policies which can be accessed through our MAN (Metro Area Network) or WAN (Wide Area Network).
- Policies which are of ordinary mode of payment ie. Yearly (Yly), Half-yearly (Yly) or Quarterly (Qly).
- Policies with mode of payments such as single premium, ordinary monthly (Mly) and Salary savings scheme (SSS) are not available for this facility.
- Policies should reflect in-force policy status. Lapsed policies or policies due for revival are not valid.
- You have to log on to the bank/service provider’s website.
- On the web page, you have to signify the date on which you want your account to be debited and click the consent for the payment. You may even specify a particular account in case of multiple bank accounts.
- The authorized Bank will debit your bank account, consolidate the payments and send the consolidated amount to LIC in form of bankers’ cheque / payorder.
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