LIC Online Payment - Premium Payment Process

Life Insurance Corporation, also known as LIC, is one of India’s most prominent, and oldest life insurance company. Established in 1956, LIC has been providing insurance solutions to millions of customers since the time it was the only insurance provider in the country altogether.

 Over time, the company has expanded not only its operations, but also its product suite to cater to the insurance needs of the ever increasing population.Following years of innovation and providing some of the best life insurance Plans, LIC is now counted among some of the most reliable, trusted, and popular life insurance providers in the country.

If you are a customer of Life Insurance Corporation (LIC) of India, you can take manage your policy provided that you have an internet connection. You can pay your premiums online, where the whole process is user friendly and hasslefree in nature.

Online Payment Facility By LIC:
With the world of banking and insurance having shifted online, more and more people are now opting for the convenience of making payments online. With time and innovation, these channels of making payment have become more and more sophisticated.

 For the convenience of its customers, LIC offers several channels via which customers can make payments for their LIC policies. Payments for LIC policies can be done online in variety of ways such as from the LIC website, at authorised bank branches, at franchisees, or even at merchants. Here, we have prepared an exhaustive list of all the options via which customers can make payments for their .

  • Premium payment through LIC website:
  • lic premium payment online
  • lic online Payment

To make payments for their plans and policies in a secure and convenient manner, LIC has set up a special portal known as ‘Online Services’ which is an on-demand premium collection service.

Through this portal, customers can easily make their policy payments in real-time, and in a secure manner via net banking. They can also make online payments for LIC policies via credit card or debit card.

This facility can only be availed by customers who are registered and have had their LIC policies enrolled on the LIC website. Some important points to remember regarding payment via the Online Payment Gateway are:

Under this option, you will be required to click on ‘Pay Premium Online’.
Upon doing so, you will be redirected to a new page displaying two options - ‘Pay Direct (Without Login)’ and ‘Through Customer Portal’.

If you click on ‘Pay Direct (Without Login)’,
 you will be redirected to a page where you have to select from the following options -

  • Renewal premium/revival
  • Loan repayment
  • Advance premium payment
  • Loan interest payment

If you click on ‘Through Customer Portal’, you will be redirected to a page wherein you will be required to enter details such as user ID, password, birth date, and so on.

LIC Franchisees/Authorized Collection Centres:

LIC has also partnered with a number of government and privately owned service providers and companies to facilitate premium payment for it’s customers.

 The 4 service providers under Franchisees include AP Online – official portal for the Andhra Pradesh government.

MP Online – official portal for the Madhya Pradesh government; Suvidha Infoserve – an s-commerce organization which provides a multitude of bill payment services.

 Easy Bill Limited –a one-of-a-kind alternate bill payment service which is secure and convenient, and offers bill payment services via traditional friendly neighbourhood stores.

 When making payment via any of these authorized collection centres, do remember:

Premium payment will only be taken in cash and not any other mode.

  • Premiums will only be accepted for policies that are active at the time of making payment. The collection centre will not accept payment for policies which fall under the Salary Savings Scheme (SSS).
  • This premium payment facility can be availed for free. there is no service charge or extra fee that is levied for the usage of this service.
  • If making payment via any of the government owned collection centres, premium can be paid only in that particular state.
  • For late premium payments, a late fee at the rate of 8% (minimum of Rs.5) will be levied.Premiums cannot be paid for the coming financial year.
  • Upon receiving premium payment, the authorized collection centre will issue a signed receipt which fully valid. For such payments, no separate receipt will be issued by LIC.Customers can find the collection centre around them on the LIC website.
  • Merchants/AgentsForPremiumCollection: LIC has also authorized select personnel, or agents who can collect premiums for LIC policies.
  • Personnel authorized to collect premium include agents at premium points, Senior Business Associates (Development Officers), and Retired Employees. Here are some important details regarding premium collection by authorized agents:

1]  Collection of premium by authorized agents will be done for ULIP policies also, but not for health insurance. Premium payment updating will be done in real time.

2]  Premium payment to a Senior Business Associate will be done via the LIC portal. The payment will be done in real time and the SBA will issue a valid receipt for the payment.

3]  The SBA is also authorized to issue policy status reports, revival/loan/surrender quotations, forms, certificates for income tax purposes, and ULIP statements to policyholders.

4]  Retired LIC employees are also among the authorized personnel who can collect premium payments. The premium payment updating is done on a real-time basis and can be done for ULIP policies as well.

5] Premium payment can only be done for policies that are in-force, and for ordinary policies with monthly, quarterly, half-yearly, and yearly modes of payment. Payment will not be accepted for policies that have been issued under the Salary Savings Scheme (SSS).

6]  Premium payment can be done not only in cash, but also via cheque to any of these 3 authorized agents i.e. SBAs, retired LIC employees, and premium point collection agents.

7]  Advance premium payment can only be done 30 days before the due date of payment and until the policy is active. However, for some select term plans, the advance premium payment period is 15 days before due date.

8]  If premium payment is done after due date, a late fee at the rate of 8% will be levied; subject to a minimum of Rs.5.

9]  Policyholders cannot make premium payments for the coming financial year in advance.
The facility of making premium payments for LIC policies to authorized agents is offered free of charge. There is no service charge of fee levied for usage of this service.


  1. Fantastic and Thank you so much. I really loved this article

    LIC Merchant is the official website for Life Insurance Agents and Partners of Life Insurance Corporation of India.

    LIC Merchant


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