Paytm is India’s largest digital payment platform which consists of various top features that allow the user to avail of its various services like Mobile Recharge, Send Money, and many more. Similarly Paytm has launched another service from which anyone can pay LIC premium from Paytm.
One thing you need to know that Paytm has operational on the application as well as the website. So you can use any method to pay LIC premium.
Pro Tip: You can also read our step by step by step guide on How To Get Paytm Wallet Statement | Historical Statement and How To Complete Paytm KYC
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How To Pay LIC Premium By Paytm
As we have already discussed the methods from which we can pay LIC payment from PhonePe and now we can see how we can pay LIC installments from the Paytm app and website. Yes in this guide you will see both methods to pay the premium online without any convenience charges.
Pro Tip: You can also read our step by step guide on How To Pay LIC Premium From Google Pay and How To Pay LIC Premium From PhonePe
Step By Step Guide To Pay LIC Premium From Paytm
After a successful partnership of Paytm with LIC, now you can pay any LIC from Paytm seamlessly. Which requires only your policy number to your premium. Paytm is well known for its cashback scheme and there are always some deals and cashback offer on LIC payment.
It gives you the freedom to make payments through debit cards, credit cards, BHIM UPI, Net banking. Here we can see two ways from which you can pay premium online. We will see both methods with their step-by-step guide.
LIC Payment From Paytm App
To make the process simple and shorter just follow our step-by-step guide to pay your premium online without any hassle.
Step 1: First of all you need to launch the Paytm app and make sure you are login to your Paytm wallet.
Step 2: Once login you need to tap on the LIC Premium logo to proceed further.
Step 3: After this, you need to select your insurance company and enter your policy number.
Step 4: Now you need to verify your details like policy number, policyholder name that is fetched by Paytm, and then continue to for payment.
Step 5: As you know Paytm offers great deals and cashback offers on the transaction. Select the relevant deals or apply a promo code and proceed to pay your premium amount.
Step 6: Now you will be redirected to the payment methods page. Select any methods to complete your payment towards your LIC.
Step 7: After successful payment, you need to tap on view details to see your payment details like transaction id for future references.
Step 8: By tapping on the downloaded invoice you can download the LIC premium receipt online directly from your Paytm wallet.
Your payment is successfully completed for LIC and you have downloaded the premium receipt.
LIC Payment From Paytm Website
This is the second method for paying LIC directly from the Paytm website. Here is our step-by-step guide to complete your LIC payment.
Step 1: First of all you need to launch the Paytm app and make sure you are login to your Paytm wallet.
Step 2: Once login you need to tap on the LIC Premium to proceed further.
Step 3: After this, you need to select your insurance company and enter your policy number.
Step 4: Now you need to verify your details like policy number, policyholder name that is fetched by Paytm, and then continues to for payment.
Step 5: If you have any promo code then you can enter it to get great deals and cashback on your transactions.
Step 6: Now you will be redirected to the payment methods page. Select any methods to complete your payment towards your LIC.
Step 7: After successful payment, you can download the invoice or receipt for your payment directly from the sections of the order.
You can download your LIC premium receipt or slip directly from your email address. You can download your payment receipt in pdf form. Save it for future reference.
7 Various Methods Of Paying LIC (Online & Offline)
When following online ways to pay your LIC premium you don’t need to stand in a long queue this will save you a lot of time. Here I have listed the top 7 options from which you can pay your LIC online.
1. Premium Payment from Branch (Oldest One)
2. LIC Premium Payment Online From Google Pay
3. LIC Premium Payment Online From PhonePe
4. LIC Premium Payment Online From Paytm
5. Online LIC Payment Through LIC Portal
- LIC Pay Direct(No Registration Required)
- Registered User (First Create LIC Account To Pay Premium Online)
6. LIC App For Premium Payment – LIC Pay Direct
7. LIC Premium Collection Through Authorized Banks (Axis Bank, City Union Bank, IDBI Bank)
FAQ (Frequently Asked Questions)
Yes, you can pay your LIC premium online after the due date because LIC offers a grace period of 15 days when you have failed to pay your premium within due dates. Make sure you can pay your premium in 15 days from the due date. Also, there are some exceptions in plans in which you will not get the grace period.
You can download your LIC premium receipt directly from the LIC portal. But for this first, you need to register on LIC website. Also if you have used any other methods to pay LIC then you can download the premium receipt from that platform. You will also receive your premium receipt directly into your registered email address.
To get your LIC portal Id and password you will be required to visit the LIC portal and create a new online account for your policy from which you can access various services of LIC and view your policy online directly from the LIC portal. You need to visit the official website for the LIC registration of new users. But you will be an existing policyholder and you need to enter your policy number, date of birth, mobile number, installment premium(without tax), email address, and gender for getting a new account for your LIC policy.