LIC premium: Here’s how you can pay without logging in

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With the galloping numbers of COVID 19 infections and terrible shortage of healthcare infrastructure, it is prudent that you avoid all contacts with people as far as practicable. However, your financial needs won’t stop and you need to respond to financial obligations in time.

One such important payment that has to be made in time is LIC premium.

Avoid contact

But there is a way of paying LIC premium avoiding contact with your agent and the personnel at the LIC office and that is paying premiums online.

One does not even have to login. The process is simple and takes just a few minutes.

Step 1: Log on to LIC’s official website. On the home page, you will get the (‘Pay Premium Online’ option https://licindia.in/Home/Pay-Premium-Online).

Step 2: Click ‘Pay Direct (without login)

Step 3: Select ‘renewal premium/revival’ from the dropdown and ‘proceed’.

Step 4: Key in policy number and some important details. After completing, click on ‘proceed’.

Step 5: Verify your policy details and click ‘Proceed’.

Step 6: Select payment option.

Step 7: After completion of payment successfully, you will get a massage.

LIC collects record premium

Despite COVID-19 challenges, LIC collected Rs 1.84 lakh crore premium in financial year 2020-21, which is the highest in the company’s history.

In terms of number of policies, it controls more than 74.5% of the domestic market.

The country’s largest life insurance company is offering its customers more digital options to pay premium online so there is no need to visit a branch office or meet with an agent.