No more office visits required to pay your LIC premiums, here's how
You can deposit LIC premiums without having to go to the office.
Premium for LIC via UPI: Numerous individuals continue to favor Life Insurance Corporation of India (LIC) policies as an investment option. However, going to a bank or LIC office to pay the insurance premiums can take some time. Due to the growing popularity of the Unified Payments Interface (UPI) in India, policyholders of LIC can now conveniently pay their premiums without having to visit a bank or LIC office.
Users of Paytm, Phone Pe, Google Pay, and other payment apps can quickly transfer funds between bank accounts using the UPI payment system. Policyholders with LIC can now conveniently pay their premiums without having to visit a bank or LIC office by using these apps.
For instance, you can pay for your LIC subscription by phone by following these straightforward steps:
1. Launch Phone Pe.
2. Choose to pay for your insurance premiums.
3. Select the payment method for LIC premiums.
4. After entering your email address and LIC number, click the "confirm" button.
5. Enter the information for your credit or debit card after selecting your preferred method of payment.
6. Once the OTP you were given is entered, your LIC premium will be deposited.
By making your LIC payment through UPI, you can avoid waiting in long lines and save time. UPI makes it easy and convenient to plan for the future and keep your LIC policy active.
It is essential to note that other apps like Google Pay and Paytm can also be used to pay for LIC premiums using UPI. The app requires you to select the Insurance Premium option, select LIC, and then enter your information and the Policy Number, just like PhonePe does. After that, you will be directed to the payment gateway, where you will be able to pay the premium. You won't have to go to the bank or LIC office to pay the premium if you do this.
