Pay your LIC policy insurance premium payment online through PayTM App, making it much easier to pay using a Debit card, Credit card, or Net Banking and PAYTM wallet without any extra charges. Still, however, you may check the maximum limit allowed to pay with credit card mode for LIC premium payment.
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LIC India Online Payment Paytm
LIC Premium Online Payment has come a long way, and with the advancement in payment ways like PayTM, payment ways have become much more accessible. Along with the features and the benefits that a policy offers from the Life Insurance Corporation of India, it is also crucial that the premium payment should not be a tedious task for the customer. To add to the currently available options of premium payment, one can also pay the premium amount through Paytm.
Apart from the fast mode of payment, Paytm is also a secure and easy mode of income for the user. Once a customer pays the premium amount through the PAYTM, the customer doesn’t have to worry about remembering the premium payment date. PAYTM will send a reminder to the customer about the upcoming premium payment date for an insurance policy.
Let us look at the detailed process for the premium payment process through PAYTM and check what to do if LIC premium payment failed after the process was completed.
LIC Premium Payment Online Paytm
Follow the Steps to Pay Life Insurance Premium using PayTM App.
- To use the Paytm option for premium payment, the user needs to install the Paytm app on his mobile through google play store or apple play store based on the operating system the person has.
- Open PayTM App (If not installed, install from play store or Apple store based on your mobile operating system)
- See various utilities and find Insurance / LIC Premium.
- Enter LIC Policy Number (One needs to carefully provide the policy number here as all the other details will be fetched through the policy number)
- Click Get Premium
- Enter Mobile Number if required to change
- Click Proceed
- Enter OTP Received on your submitted mobile number (OTP reads automatically if SIM available in the same mobile)
- Click Confirm
- The next screen will automatically show the policy details of the person, such as
- LIC Policy Number
- Name of the Insured
- Due date of the policy
- The number of installments is pending.
- Premium Amount
- Cross-check all the details present on the screen before going ahead with premium payment.
- Click on the Proceed button at the bottom of the page.
- Choose Payment Mode (PAYTM Wallet, Debit / Credit card, or Net Banking)
- Provide the requisite details and then click on Pay Now button.
The payment of LIC premium is complete. A successful payment message will appear on the screen; the user can take a screenshot of the same for future reference. The person will also receive a confirmation message of payment on his registered e-mail ID and mobile number.
FAQs
Can I get Cashback for Paying LIC Premium through PayTM?
Most of the time, you do not have to get any discounts, coupons, or cash back when you pay for your LIC premium through Paytm. But sometime sooner or later, PayTM will bring in new offers for these, but we cannot be sure until then.
How much amount is allowed to pay through PAYTM?
There is no limit on payment towards LIC premium through Debit card or Net Banking; however, a maximum allowable payment through credit card is Rs.1 Lakh only.
How can I get LIC Receipt from PayTM?
Even if you have made the payment from PayTM, you will only see a transaction history on the payment service provider but not the receipt itself. But this does not mean you cannot find your payment receipt for the LIC premium; you can check it from the LIC official website under your payments.
How can I pay my LIC Premium by PayTM Bank?
Once you are on the PayTM portal to pay the LIC premium, then instead of selecting the debit card, credit card, or net banking. Click on PayTM bank as payment and proceed to pay with it while ensuring that your account has a sufficient balance.
How to check LIC Policy status from PayTM?
So, even after making payments, sometimes the status might not change from pending to paid. And in that, you can go to the official website of LIC India and use the policy number you have with you to check the status. Please note that only payments can be made through PayTM, but status cannot be checked.
Paytm Promo code for LIC Premium Payment?
Understand that LIC premium payments are essential, so PayTM ensures no disturbances during the payment and the promo codes are not made available for such a reason.
Is the payment updated with LIC immediately?
Life Insurance Corporation of India will take two days to reflect the premium payment through PAYTM.
