Online Payment Gateway is LIC’s initiative to provide you with on demand service within a few clicks! You can now have many of the functionalities that were available only at a branch office, online at your fingertips.
The payment gateway (PG) initiative is an important component of the offer. It provides for real-time payment of renewal premium-dues through the portal. This functionality is available only to registered customers who have enrolled their policies.
You can pay LIC premiums using Net Banking accounts with any of the following banks:-
- Bank of India
- Union Bank of India
- Punjab National Bank
- State Bank of India
- State Bank of Indore
- HDFC Bank
- ICICI Bank
- UTI Bank
- IDBI Bank
- Centurion Bank of Punjab (erstwhile Centurion Bank)
- Centurion Bank of Punjab (erstwhile Bank of Punjab)
- IndusInd Bank
- ABN AMRO Bank
- Kotak Bank
- Bank of Baroda
- Bank of Baroda - Retail NetBanking
- Bank of Baroda - Corporate NetBanking
- State Bank of Patiala
- State Bank of Bikaner & Jaipur
- State Bank of Travancore
This facility is available for all non-ULIP policies.
Credit card payments are not accepted under this payment facility.
Here’s a simple step-by-step guide on how you can go about using this facility:
- Once you have enrolled your policy(s), you can click on the link ‘Pay Premium Online’ to see a list of policies whose premium is due.
- You have a choice to select the policies for which you want to pay premium.
- You will be directed to a page where you can choose from multiple banks for payment and will be directed to the login page of the selected bank. It is essential that you have a net banking account with at least one of these banks.
- At the bank site you will need to login with your net banking username/password. On successful login, the total amount to be paid by you towards LIC will be displayed.
- Please verify your balance (displayed) and confirm the transaction to the bank. Simultaneously successful/unsuccessful transaction message will be flashed.
- On successful transaction, a digitally signed e-receipt will be generated and e-mailed to you. In case of an unsuccessful transaction you will be informed and the reason thereof.
- There is no further registration involved at the service provider end.
- There is no time lag from the date of payment to obtaining receipts.
- It is also a secure arrangement, as the policy data is not shared between LIC and Banks over net as only the amount to be paid is encrypted and transported. The login id at both the sites (LIC and Bank) is known only to you.
- And above all there is no charge for you to avail this service.