ATM facility is available with AXIS BANK and CORPORATION BANK. 30 to 40 percent rejections are due to signature mismatch. The refund process shall take 6 to 8 days. Advertisement Regulations for All Marketing Officials, You can pay LIC premiums using Net Banking accounts with any of the following banks:-. The refund process may take 6 to 8 days.For further queries please contact bo_eps1@licindia.com, One payment made through online portal and one payment made through Bill pay/Smart Pay. The Payment and updation of master happen in real time. For detailed documentation on how to verify the digital signature on the e-receipt. SMS is sent to customer for acceptance as well as rejection of mandate. However, by using the online medium you will get the receipt of the payment instantly to your registered email id. You have to add LIC as biller with the policy details and other requisite information. After online premium payments an electronic payment receipt will be generated to your mail – Id in 3 days. Tag - LIC policy online payment. Subsequent premiums will be collected thru NACH. Customers have to fill an online form and provide document proofs to the portal. The payment gateway (PG) initiative is an important component of the offer. However, if the date of payment is prior to at least a week, kindly send the bank details where debit of premium is reflected and send a mail with bank statement to bo_eps1@licindia.com. How to register for premium payment through Bill Pay/ATM? After grace period is over, the same cannot be accepted through online portal. You can choose the bank account you want to pay from. » And above all there is no charge for you to avail this service. Quick Links . How should the Bank Account Number be written on the mandate form? Yes, premium can be paid at cash counter in Cash or Cheque during the pendency of the mandate. Policyholders can choose to pay their premiums through LIC’s official website, via Credit/Debit Card or Net Banking. NO EXTRA CHARGES WILL BE COLLECTED BY THE BANK. A separate mandate form with new bank details is to be submitted to LIC Servicing Branch office. The policies are as follows – 1. Whether it is valid for Income tax purpose? This facility is available for all non-ULIP policies. Grace period is 30 days in case of YLY, HLY and QLY mode, whereas it is 15 days in case of ECS/NACH monthly mode. Digital Signature not present on receipt. After the cash payment for due LIC premium, a common mode of payment is LIC premium through Cheque. Pay Premiums without Login using Policy Details The app even provides various offers, rewards, cashback to its customers. Premium can be paid for all in force non-sss policies. A loan is a LIC policy is a loan that can be availed against the security of your LIC policy. Forgot User-Id and Password / Changes in online portal profile. Whether I can make the payment through cheque? My account has been debited but I have not received Premium Payment Receipt from LIC. It is the value or the amount paid to the policyholder on discontinuation of policy and collects it from LIC. TDS would be deducted @ 5% only if the maturity benefit payable under the plan is more than INR 1 lakh. Whether any extra charges be collected by the agent? You have a choice to select the policies for which you want to pay premium. No, payment can be made only by Cheque drawn on that Bank. Bank account number should be written from Left most box of the account number field without adding any extra zeros at the end. Convenience fee is levied to customer for all transactions made through Credit Cards (VISA/Master/Rupay Card).Slabs for which are available on the portal and can be seen while making payment. LIC has given the option to pay the Premiums online, to pay premiums online go to customer services on the page shown above in which the first option is “pay premium online”. It will save time by not waiting in long queues for making the payment. What are the Payment modes available on PayTM app? 1. The policyholder needs to pay the convenience fees and service tax for processing the LIC Premium payment. LIC launched many online services for convinces of the policyholder. Standing instructions also can be given to the bank/service provider to debit the account on a specific date. Yes, it is possible. (Where payment is made through DIRECT PAY). From where I will get the refund, in case it happens to be a double payment. This facility is absolutely free for the policyholders of LIC. No other receipt will be issued by LIC and sent by post. LIC India has provided an online portal that lets the new customer register for LIC policy. After submission of data to the bank / service provider the same is received by PCMC within 3-4 days for which confirmation / rejection is conveyed. The policy gets assigned to the lender till the loan is paid back in full by the borrower. Under the LIC Kanyadan policy, you can increase or decrease the premium payment according to your income. Premium entered is incorrect in case of going through LIC Pay Direct. LIC Online Premium Payment. LIC has agreements with the authorized banks/service providers wherein LIC will pay a mutually agreed charge per transaction on monthly basis. 24 X 7 anywhere & anytime access to internet. If you have taken any RIDER along with your policy, then payment has to be made within the grace period only. Note: The aspirant can also purchase the premium offline by contacting the LIC Policy Agent. Whether the receipt issued by Cash Counter can be submitted by IT authorities? 2. MLY and Salary Saving Scheme (SSS) mode policies are not accepted through this payment mode. Since some fields on the mandate form are pre-printed with values specific to the division, it can be taken from any Branch of that division where policy is being serviced. Whether intimation about mandate acceptance/rejection is given to Agent? Customer will not be charged for availing this payment facility. Whether any extra charges be collected by the bank? Whether premium will be accepted at cash counter during Pendency of the mandate i.e., awaiting response from the destination bank ? The main benefit of having the LIC Policy is that the individuals can avail of the benefit of tax deduction. Last premium before maturity under Qly & MLY mode cannot be paid online. This functionality is available only to registered customers who have enrolled their policies. Maximum collection can be done up to a certain pre-decided limit after which the amount collected is to be invariably deposited in the Axis bank(cash only) or the selected LIC Branch or cash invoice may be deposited online on LIC portal using Net Banking Account. Breaking News : LIC premiums can now be paid at the nearest CSC centres throughout the country. It has vast network of branches all over India where premium can be paid at cash counters. Whether the receipt issued can be submitted by IT Authorities? Yes, the receipt is valid, signed receipt. Payment can be made in any bank branch or extension counter throughout the country by cash or cheque drawn on that Bank. Debit cards allowed are VISA, Master and Rupay. It is a one time process and forms are different for different banks / service providers. Online Payment Gateway is LIC’s initiative to provide you with on demand service within a few clicks! However, Axis Bank card holders are extended a facility by Axis Bank by absorbing convenience fee for their customers. Which agents/retired employees and chief organizers can collect the premium? LIC Premium Online for LIC information: LIC is the largest insurance company in India. On confirmation of the registration, LIC will regularly send the bills/invoices mentioning the due dates, premium amount, late fees, validity date, etc to the service provider/bank. NO, NO EXTRA CHARGES WILL BE COLLECTED BY THE E-SEVA CENTRE. Premium can be paid for all Inforce ordinary policies except for ULIP, Health and E-term policies. The process of sending e receipt with digital signature is discontinued w. e. f. November 2014. Through online payment, you can pay your premium anytime and anywhere on a timely basis. Also, If receipts for both the transactions have been received by customer, then the excess payment made through Bill desk/Online portal will be refunded by servicing branch of LIC through NEFT. » There is no time lag from the date of payment to obtaining receipts. Premium can be paid 30 days before the due date to till the policy is in force. LIC OF INDIA is the largest and oldest insurer in India with over 300 million policies.LIC OF INDIA offers variety of options for accepting premium for these policies. Be a Corporate Agent; Be an Agent (Individual) Plan NAV . Sitting at home or office, on the weekends, Government holidays or lockdowns, no need to worry about making life insurance payment. LIC Policy premium can be deposited either in online or offline mode. Here, the problem arises when you have misplaced the receipt, or you may not have received on your e-mail id. You need to provide these details in the Lic Maturity Value Calculator along with Name, Mobile number, Email ID to calculate the maturity value in an easy way. You can also choose to locate the nearest branch through the website, or walk into the policy servicing branch and meet with a representative to check your policy status. Browse Money Back Plans Now. This can be printed or mailed to the email id you have specified during your Registration. Receipt can be obtained by giving policy number and transaction date. As per the rules and regulations, the bonus also gets attached to it if the policy is participating one. 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. Check LIC policy Payment status online for new user. Whether I can make the payment through cheque drawn on any other bank?

For installation of root certificate, you need to download the RCAI-Class3.p7b file and import the same as per e-receipt verification documentation (eReceipt_Verification_Help.pdf). What is an e-receipt? You can avail the free service from LIC, as you don’t have to pay any charges to LIC or its authorized agencies for this additional benefit. Money back policy is a traditional policy gives you life protection along with savings, this plan provides you periodic payments during the policy tenure. There is no need to submit NACH mandate form for existing ECS policies. You can pay LIC premium online through Debit Card, credit card and net banking. The updation of premium normally is in real time. Regarding the second option in Customer services, View pay premium … "RFP floated by Government of India for engagement of Actuarial Firm for LICI IPO", "Dear Policyholder, Please submit Bank Account Details ( NEFT ) to LIC - Click here to Download NEFT Form", "PLEASE REGISTER IN CUSTOMER PORTAL FOR AVAILING ONLINE SERVICES". Whether the NACH mandate form can be collected from any LIC Branch? Using the login & password provided by the bank/service provider, you can log on to your account page at the bank/service provider’s website. If the policy benefit is not eligible for an exemption under Section 10 (10D) of the Income Tax Act, 1961, because the premium exceeds the specified limit of the sum assured, TDS might be deducted by LIC before paying the policy benefits. It will save time by not waiting in long queues for making the payment. 24 Feb. How to pay LIC premium online? It is trusted by all policyholders as it is controlled by the government of India. LIC offers a range of life insurance policies which help in fulfilling the varied insurance needs of individuals. You Can Pay Your LIC Premium Via Amazon Pay Balance Also. Pros and cons of loan on LIC policy. Relevant letter is emailed to the customer for rejection of mandate wherever email-id is available and printed letter is sent to the customers where no valid email address is captured. Both these policies are offered by LIC and they offer some of the best coverage benefits. You can also view your premium dues and other policy details. Can I opt for NACH? It then displays the payment details according to the premium selected. This e receipt is valid for income tax purpose. In such case, kindly contact nearest LIC branch for revival of policy. In offline mode, policyholders must visit the nearest branch office of LIC and wait for a long time by facing a long rush for LICOnline payment. The policyholders are required to submit the LIC premium payment receipt as proof of investment for income tax deduction purposes. Then the following page appears, you need to mark the options and click submit to process your payment. This facility is available to all new policies as well as existing policies including ULIP policies. However, you can even pay your LIC Premium through Google Pay app with zero payment charges. You are required to print the form, sign it and submit it to the nearest LIC Branch where at least one policy mentioned in the form is being serviced.

"); © 2021 LIC INDIA - Designed by Decent Themes, SMS is sent to customer for acceptance as well as rejection of mandate. If you have taken any RIDER along with your policy, then payment has to be made within the grace period only. But Policy Holder should have account of corebanking facility. You can also view your premium dues and other policy details. Premium has to be the basic premium (without any taxes) that is mentioned on the policy document. Registration through Bill Pay can be done through the Bank/Service provider’s website or through a physical form issued by them. Follow the below steps to register and check the status online. Receipts issued immediately. We request you to kindly adopt only one mode of premium payment. It is decided by the MKTG Dept, Central Office. Premium Payment . single premium payment, where the insured can pay the entire premium of the policy at one go, and regular premium payment, where the insured can pay the premium yearly, half-yearly, quarterly and monthly installments. There can be multiple reasons for not being able to make payment online-. Which policies are eligible for payment of premiums thru this facility? Payment of premium is allowed from1 month prior to the due date till the policy is in force. Premium payment through AXIS , CITY UNION and IDBI BANK. Letters are printed at NACH Centers . The Surrender Value is only payable after full payment of premiums for at least 3 years. Enter Policy Details and Pay using NetBanking or Debit/Credit Cards. There are two ways through which we can get the LIC policy receipt-offline and online. It is essential that you have a net banking account with at least one of these banks. Other than … LIC Children Money Back Plan LIC Branch where the amount was deposited by the AGENT/SBA has to take the dishonour action. When will the Premium be debited from customers’ account? Otherwise, they can approach LIC agents for paying premiums. A flat fee for Debit Card and Net Banking transactions is absorbed by LIC. Single receipt will be issued if payment is made for more than one policy by the policy holder. This is a one-time process for each policy. LIC Online payment is the most popular method of paying the policy premium. Premium can be paid through Paytm App by clicking on the LIC logo under the Insurance category. As and when amount received and accounted at LIC, the receipt will be dispatched/emailed to customer. Whether intimation about mandate acceptance/rejection is given to customer? LIC India Official Portal LIC Policy Number 858 FAQ No, separate mandate is to be used for each policy. Here’s a simple step-by-step guide on how you can go about using this facility: Online Premium Calculator, generate an instant illustration for Premium. Whether all policies can be registered through Bill Pay? The bank/service provider sends these details to LIC for validation & confirmation of the registration data at pre-determined intervals. As per the new circular, a policyholder now has to mention his/her policy number on the cheque. var $zoho=$zoho || {};$zoho.salesiq = $zoho.salesiq || {widgetcode:"f0ecc636061931819c062ca7c85664ea3ac01dff5f86c7c7d8849682c1af9ec5", values:{},ready:function(){}}; var d=document;s=d.createElement("script");s.type="text/javascript";s.id="zsiqscript";s.defer=true; s.src="https://salesiq.zoho.com/widget";t=d.getElementsByTagName("script")[0];t.parentNode.insertBefore(s,t);d.write("

As the payment is received by LIC through the Bank or the service provider, same may not be received on the same day of payment by the policy holder, hence there is short time-lag between the date of debit in your bank account and the date when the policy reflects the updated status. The platform has one of the simplest interfaces where the payments you receive or send through Google Pay is directly transferred into the bank accounts. Duplicate receipts cannot be printed in any case. How does LIC acknowledge the registered policy details? There are generally two types of premium payment options offered by the policy i.e. In case of cheque dishonour, who will take the dishonour action? Single receipt will be issued if payment is made for more than one policy by the policy holder. Once registered for Premiums payments thru this facility, you should avoid paying via other payment modes, because there are many instances where payment for the same due-month is received twice. , Axis Bank card holders are extended a facility by Axis Bank by absorbing convenience fee for their customers. In case of LIC ‘Revival’ is required when a policy gets lapsed if the premium is not paid within the grace period (minimum 1 month if mode of payment is Yearly/Half-yearly/Qly and 15days if the mode is monthly). Plan NAV; Locator . You can avail the free service from LIC, as you don’t have to pay any charges to LIC or its authorized agencies for this additional benefit. Franchisees – AP ONLINE, MP ONLINE, SUVIDHA, CSC. How to Check the LIC Policy Surrender Value? Letters are printed at NACH, Whether premium will be accepted at cash counter during Pendency of the mandate i.e., awaiting response from the destination, Yes, premium can be paid at cash counter in Cash or, Deposit up to date premiums for the policy, Premium should be paid across the cash counter in the branch all the dues till the date of payment. For further help regarding login issues and any changes in online portal profile, you may mail at portalsupport@licindia.com. Deposit up to date premiums for the policy ( all the dues) and re-register for NACH by submitting fresh mandate to Servicing Branch. 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. Some of the service provider’s/bank’s web-sites have a demo page showing the process of adding the billers. Make Payment Via Amazon ICICI Card And Get 2% Cashback. For payment through Debit Card, Net-Banking, UPI and wallets Nothing is charged to customer. Lic Maturity Amount Calculator provides maturity amount based on Age of the policyholder, Policy term, Policy name, Sum Assured, etc. In case you have not received the renewal premium receipt, you may collect the premium paid certificate from any of the nearest LIC branch/Customer Zone. What are the charges to be paid for availing this facility? For LIC payments no extra amount will be charged by the banks or the service providers. We provide a wide range of payment options that are safe & secure. We request you to kindly go “View Transaction Status” bar of “Pay Direct” option under “Pay Premium Online” option through which premium was paid by you. You can make premium payment within the comforts of your home or office, and avoid personal visit to LIC branch. If you want to buy the best LIC policy for a child, there are two plan options which you can consider. No need to visit bank again & again, life insurance premium payment online at Paytm and save your time. The Payment and. I have bank account in Mumbai, but my policy is being serviced by Delhi Branch. No other receipt is sent by post for online payments. No Minimum Payment Required And No Maximum Cashback. LIC Policy Premium Payment: While paying your policy premiums via digital modes, like net banking and mobile banking is always convenient and does not require one to visit LIC branches or authorised banks in physical capacity, it is important to be careful while using this feature. Receipt will be posted to the address mentioned in the policy records after two or three days of accounting by LIC in case of old registrations only. Premium will be debited Only after mandate is successfully validated by customers’ bank and the response is posted in NACH master at the NACH center of the zone. Among the various LIC plans issued by the company, there are some plans which are the best-selling plans as they have the most comprehensive coverage benefits. Be a Corporate Agent; Be an Agent (Individual) Plan NAV . Total time taken for registration may extend up to 10 days. Mktg Dept, Central Office is to be contacted through proper channel. Step 11 : Fill all the details and click on the ‘Make Payment’ button, your payment will be processed. It saves time moreover money for the policyholders. Also on ALL POSSIBLE digital modes through LIC website without any service charges. On successful transaction, a digitally signed e-receipt will be generated and e-mailed to you. Now the payments can be made using VISA/Master Credit Card (Domestic Only) with some convenience charges. If Bank account is changed then what is the procedure? Check LIC Policy Status Online (For Registered User) You can check your LIC policy details including details of the premium payments, accrued bonuses, group schemes etc. Last premium before maturity under, However, if the date of payment is prior to at least a week, kindly send the bank details where debit of premium is reflected and send a mail with bank statement to, Double payment is made while making payment through online portal, Duplicate payment is being refunded to our service provider to be credited back to your account. Double payment is made while making payment through online portal site . The login id at both the sites (LIC and Bank) is known only to you. Kindly use the options “Forgot user-id” and “Forgot Password” available on LIC website. How to Pay LIC Premium Payment Online with Paytm? E-receipt is online, and is valid for IT purpose. How can I make the payment through above banks? This is an easy way to pay your insurance premiums conveniently without any hassle. You no more have to commute to nearby LIC centre and stand in the long queue to get your LIC premium payment done. Bank/Service Provider inform the policy holder through SMS/mail/Message on their website. W.E.F. You can choose the bank account you want to pay from. Whether this facility can be taken for existing policies or available only for new Policies? Basic Safety measures to fight against Coronavirus Disease(COVID-19), Intimation to policyholders regarding changes in tax structure due to implementation of Goods and ServicesTax (GST) - Click Here, Beware of Spurious Phone Call and Fictitious/Fraudulent Offers, " FRAUDULENT RECRUITMENT ADs: BEWARE...! Whether the receipt issued by Banks can be submitted by IT authorities? The debit dates fixed i.e. Services moreover feature provided by the LIC Company are much complimented. You can make premium payment within the comforts of your home or office, and avoid personal visit to LIC branch. Premium can be paid for all Inforce ordinary policies except for ULIP, Health and E-term policies. Convenience Fee and other charges for different payment modes. This convenience fee is not collected by LIC, but is paid to the card network. 24 X 7 anywhere & anytime access to internet. Duplicate payment made through Bill Pay will be refunded to our service provider to be credited back to Policyholder’s account. Amount can be paid through net banking/credit card/debit card or any mode through which the payment is registered by you. Premium payment through LIC website: lic online Payment. If the amount has been deducted from your account and has not been adjusted in your policy for more than 10 days, kindly contact your banker as the amount would be lying in the suspense account of your banker to be reversed in your account. By registering customers will be able to check their status online. Now the payments can be made using VISA/Master Credit Card (Domestic Only) with some convenience charges. Payment made, Account debited but e-receipt not received. There is also an LIC app which allows you to know all your policy details, bill payment dates and your policy status all at one place. Subsequent premiums will be collected thru, Yes, it is possible. What is the criterion to get the authorization? How much time is taken for the registration? How the Premium Paid Receipt will be issued? Valid, signed Premium receipt will be issued by the Collection Center immediately. It provides for real-time payment of renewal premium-dues through the portal. How to add the policy details at the authorised bank/service provider’s web-site? Plan NAV; Locator . Premium position will be updated on real time basis. The premium is to be paid daily, in 6 months, 4 months, or … As and when amount received and accounted at LIC, the receipt will be dispatched/emailed to customer. Whether any extra charges be collected by the Service Provider? Premium for E-term policies cannot be collected. Loan interest cannot be paid under VPBY and PMVVY plan policies. » Premium can be paid at the cash counter of any LIC Branch Office. Click Confirm and Proceed to buy the premium by paying the amount through online.

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