Table of Contents
- 1 Can LIC premium be paid before due date?
- 2 How can I automate my LIC premium?
- 3 What is the benefit of advance premium payment in LIC?
- 4 How many days late we can pay LIC premium?
- 5 Can I pay LIC premium anywhere in India?
- 6 What is advance premium payment?
- 7 How do I Check my LIC insurance premium amount?
- 8 When can I deposit the policy premium in advance?
When can the premium be paid? Premium can be paid 30 days before the due date to till the policy is in force.
Here is how you may use this facility:
- Log in to your bank’s website or download Banking App on mobile device and log in.
- Select ‘Pay Bills’
- Choose “insurance” as the category of Biller.
- Click on “Insurance” and view the list of insurance companies in dropdown menu.
- Click on ‘Life Insurance corporation Of India”
Can we pre pay LIC premium online?
You can do so by either visiting the LIC website or by downloading LIC India’s app. To pay premiums through the insurer’s website, visit www.licindia.in and click on ‘Pay Premium online’ from the ‘Online Services portal’. Here you will get two options: a) Pay Direct (Without login) and b) Through customer portal.
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.
However, due to some reasons, if you fail to pay the premium on time, a grace period of 15 days is allowed for those policies who have a monthly premium mode, and a grace period of 30 days for policies with quarterly, half-yearly, and yearly premium payment mode.
How can I pay LIC premium through Google second time?
How to Link LIC Policy in Google Pay
- Open Google Pay App.
- Go to Business Label.
- Click New Payment at bottom.
- Type LIC and Search.
- Select Life Insurance Corporation of India.
- Click on Get Started if not paid any bills earlier.
- Enter Policy Number.
- Provide Email ID.
Premium can be paid at the cash counter of any LIC Branch Office. Premium can be paid by CASH/CHEQUE/DD. Premium for ULIP policies can now be paid at any LIC Branch cash counter across the country.
An advance premium is an initial premium paid to bind an insurance policy for a given period of time. An advance premium can also refer to pre-paid premiums, in which the policyholder makes a premium payment before it is due.
When can I pay my LIC premium in advance?
LIC premium can be paid in advance one month prior to the due date. LIC policyholder those who are paying the policy premium in quarterly, half-yearly and yearly modes get 2 months (59 days) time to clear the dues. For example, Rs. 6500/- is the premium and the due date is 25–03–2020, this premium can be paid from 25–02–2020 to 23–04–2020.
Log in to your bank’s website or download Banking App on mobile device and log in. Proceed by keying in the policy number, name, premium amount, email address and mobile number. The premium due date, total amount due (with GST and late fee, if any) will be fetched from the LIC customer portal and displayed on the screen.
1. Policyholder can deposit the premium in advance, subject to maximum dues allowed i.e. up to the end of financial year. E.g. Premium falling due upto 31st March can be collected in current Financial Year. 2.
Is there any fee for LIC credit card online payment?
Note that there is no fee for other online payment modes like Internet Banking, Debit Cards and Wallets While paying through credit card for LIC , they will charge convenience charge . But while paying through Wallet there is no charges .