In 2020, how can you pay premiums of your LIC Policy?

  LIC Online Payment Options  

LIC has premium payment facilities via several alternate channels to enable the customer to pay the premium at any time and anywhere in the country, namely: Standing Instruction Mandate of the bank

OFFLINE PAYMENT CHANNELS

National Automated Clearing House (NACH): The National Payments Corporation of India (NPCI) has implemented an electronic payment service termed as “National Automated Clearing House (NACH)” for banks, financial institutions, Corporates, and Government Departments.

Electronic Bill Presentation and Payment (EBPP): Premium can be paid through registration on the websites of Corporation Bank, ICICI Bank, Federal Bank, and Axis Bank. For other banks, this facility is available through service providers: Bill Desk covering almost every bank in India.

ONLINE PAYMENT CHANNELS

Customers’ Portal Payment Gateway: Premium, Policy Loan/Interest and Advance Premium can be paid online on LIC website www.licindia.com. Net Banking E-Wallets, Banking Facility, Debit Cards, UPI/BHIM free of Charges money transfer. There are some conditions for a credit card with no third party payment

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Premium Collection through Banks

City Union Bank	IDBI Bank

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Premium collection through Franchisees

APTOnline	MPOnline	CSC e-Governance Service India Ltd

 

Paytm App	Insta Pay

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Premium collection through Senior Business Associates (SBA): Selective development officers are authorized to collect the premium

Premium collection through Empowered Agents: The Corporation has empowered selected Agents to collect the renewal premium through their collection Centers called as “Premium Point"

Premium collection through Retired Employee: Selected employees are also authorized to collect the premium online and generate receipt there and then.

Premium collection through LICAs (LIC Associates): Selective, LIC Retired development officers are also given authority to collect premium online and issue receipts instantly at their collection centers called “BIMA Connect”.

Premium collection through Chief Organizers: Chiel organizers are also authorized by LIC of India to collect the premium online.

LIC Mobile Application: LIC has launched online application "MyLIC", downloadable on windows & Android, for the convenience of customers to pay the premium.

Payment of premiums at POS machines: Customers can pay the premium in POS (Point of Sales) with the swipe of debit or credit cards