Are you looking for how to pay LIC premium online or offline easily without forgetting the due date. Then you will be happy to know that LIC has come up with many premium payment options for its customer. You may not imagine but this is true that you can pay your LIC premium in 8 different ways.
This is a very good step from LIC to provide its customers many options and also expanding its presence in insurance market. Here in this post we will share about these payment options and also share a pictorial presentation from LIC India.
LIC Premium Payment Options 2020
If you have noticed the advertisement from LIC of India about “LIC premium is due, but why stand in Queue.” then you will easily understand the different LIC premium payment options.
1. LIC India Portal:
Visit LIC India’s official website (www.licindia.in) and register with your policy details. Then from your account simply pay your premium. You can also pay LIC premium without registering using the LIC Pay Direct method as well.
2. LIC premium payment by ECS
For that you have to download the ECS mandate form from lic website. You can also download the form here .Then fill up the form with your bank account details and also premium amount and then submit the same to LIC branch. Then automatically on a specific date your monthly premium will be deducted from your account.
3. Life plus:
Lifeplus is a third party payment service which provide around 1100 outlets to pay lic premium.
4. Premium point:
LIC premium point is also an authorized premium collection center. Here you can find out some of the centers in your city.
5. Through Franchises:
You can also pay via APonline, MPOnline, Suvidhaa collection centers which are nothing but premium collector franchisees from LIC India only.
6. Via ATM :
If you have account with Axis bank or Corporation bank, then you can pay your LIC premium via their ATM machines as well.
7. In Bank :
In fact you can visit Axis bank or Corporation bank branch and pay your premium by cash or cheque.
8. EBPP :
This is called Electronic Bill Presentation and Payment. In this you can use various Bank’s bill-desk interface to pay LIC premium online.
Which Option is best for LIC Premium Payment?
Well, personally I always prefer to pay using online mode as its quick and easy. There are multiple applications like PayTM, GooGle pay and other mobile wallets through which one can pay LIC premium online. In case you have your own LIC agent then you don’t have to worry about payment as your agent will collect the payment time to time.