However, by using the online medium you will get the receipt of the payment instantly to your registered email id. Franchisees – AP ONLINE, MP ONLINE, SUVIDHA, CSC. Both these policies are offered by LIC and they offer some of the best coverage benefits. LIC validates the registration data, appends the same to the database and informs the bank/service provider about the registration status. Duplicate payment is being refunded to our service provider to be credited back to your account. Online Payment Gateway is LIC’s initiative to provide you with on demand service within a few clicks!
"); © 2021 LIC INDIA - Designed by Decent Themes, SMS is sent to customer for acceptance as well as rejection of mandate. 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. » Premium can be paid at the cash counter of any LIC Branch Office. FAQ of Alternate Channels; Payment at Cash Counter ; Payment Through Alternate Channels; Join Our Team . LIC Online Premium Payment. LIC policy premium payment made easy with Phonepe app. Otherwise, they can approach LIC agents for paying premiums. 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. Bank/Service Provider inform the policy holder through SMS/mail/Message on their website. The premium is to be paid daily, in 6 months, 4 months, or … Any Extra Amount is charged for this facility? Premium payment through AXIS , CITY UNION and IDBI BANK. In case Unpaid Premium is not updated, transaction for the due will be created and distributed to the servicing branch which is to be refunded / adjusted by the servicing branch. Some of the service provider’s/bank’s web-sites have a demo page showing the process of adding the billers. 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. If Bank account is changed then what is the procedure? However, you can even pay your LIC Premium through Google Pay app with zero payment charges. LIC India has provided an online portal that lets the new customer register for LIC policy. Advertisement Regulations for All Marketing Officials, You can pay LIC premiums using Net Banking accounts with any of the following banks:-. You can also view your premium dues and other policy details. The System is free for the customers. How to add the policy details at the authorised bank/service provider’s web-site? NO EXTRA CHARGES WILL BE COLLECTED BY THE BANK. Simultaneously successful/unsuccessful transaction message will be flashed. 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. Premium Payment . Normally a customer only writes “LIC of India” or “Life insurance Corporation of India” on the cheque. Duplicate payment made through Bill Pay will be refunded to our service provider to be credited back to Policyholder’s account. Check LIC policy Payment status online for new user. Click the link below to know more. Forgot User-Id and Password / Changes in online portal profile. LIC offers a range of life insurance policies which help in fulfilling the varied insurance needs of individuals. You Will Get Cashback After Bill Cycle As Amazon Paybalnce. The debit dates fixed i.e. If the borrower is unable to pay the loan back, then the lender gets all the benefits that are accrued to the policy. Payment can be made in any bank branch or extension counter throughout the country by cash or cheque drawn on that Bank. Whom to contact for getting authorization to collect the premium? 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. The bank/service provider sends these details to LIC for validation & confirmation of the registration data at pre-determined intervals. How the Premium Paid Receipt will be issued? You can pay LIC premium online through Debit Card, credit card and net banking. It has vast network of branches all over India where premium can be paid at cash counters. But Policy Holder should have account of corebanking facility. 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. 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. On successful transaction, a digitally signed e-receipt will be generated and e-mailed to you. PayTm Wallet, UPI, Debit Card, Credit Card and Net banking. Premium can be paid 30 days before the due date to till the policy is in force. It is essential that you have a net banking account with at least one of these banks. My account has been debited but I have not received Premium Payment Receipt from LIC. We provide a wide range of payment options that are safe & secure. No other receipt is sent by post for online payments. 24 X 7 anywhere & anytime access to internet. This e receipt is valid for income tax purpose. Whether any extra charges be collected by the agent? The policyholders are required to submit the LIC premium payment receipt as proof of investment for income tax deduction purposes. Premium has to be the basic premium (without any taxes) that is mentioned on the policy document. Bank account number should be written from Left most box of the account number field without adding any extra zeros at the end. Total time taken for registration may extend up to 10 days. LIC India Official Portal LIC Policy Number 858 FAQ What are the charges to be paid for availing this facility? The refund process may take 6 to 8, Convenience fee is levied to customer for all transactions made through. What is the criterion to get the authorization? As and when premium becomes payable under the registered policy, LIC sends the bills to the bank/service provider, and the information will be displayed by the bank/service provider in your net-banking account page. After grace period is over, the same cannot be accepted through online portal. The app even provides various offers, rewards, cashback to its customers. ", Beware of fake / spurious calls - DOs and DONTs, Notice to Public regarding Combination of Products, Make premium payment for your enrolled policy using NetBanking or Debit/Credit Cards. Sitting at home or office, on the weekends, Government holidays or lockdowns, no need to worry about making life insurance payment. 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. It saves time moreover money for the policyholders. SMS is sent to customer for acceptance as well as rejection of mandate. Payment of Premium by Cheque/Demand Draft, 5th Floor, Govardhan Building, Plan NAV; Locator . » There is no time lag from the date of payment to obtaining receipts. Registered Users/ Agents/ Development Officers/Branch login here for the Portal Services : Subsequent premiums will be collected thru, Yes, it is possible. Step 11 : Fill all the details and click on the ‘Make Payment’ button, your payment will be processed. On being approached, the service provider obtains a written mandate from you, authorizing him to realize the billed amount directly from your bank account. 1. It is a one time process and forms are different for different banks / service providers. In such case, kindly contact nearest LIC branch for revival of policy. » 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. You can make premium payment within the comforts of your home or office, and avoid personal visit to LIC branch. It will save time by not waiting in long queues for making the payment. You can now have many of the functionalities that were available only at a branch office, online at your fingertips. "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". Pros and cons of loan on LIC policy. 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 the receipt issued can be submitted by IT Authorities? 5% extra premium charged for MLY policies is also waived for MLY NACH mode policies. Receipts issued immediately. No need to visit bank again & again, life insurance premium payment online at Paytm and save your time. 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. A separate mandate form with new bank details is to be submitted to LIC Servicing Branch office. In general, you would have to enter the policy number, the installment premium, email-id and any other information. Registration through Bill Pay can be done through the Bank/Service provider’s website or through a physical form issued by them. The refund process shall take 6 to 8 days. Premium can be paid for all Inforce ordinary policies except for ULIP, Health and E-term policies. Payment made, Account debited but e-receipt not received. NO, NO EXTRA CHARGES WILL BE COLLECTED BY THE E-SEVA CENTRE. 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). 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. How can I make the payment through above banks? No, separate mandate is to be used for each policy. What are the different reasons of Mandate rejections? It is decided by the MKTG Dept, Central Office. Whether this facility can be taken for existing policies or available only for new Policies? Be a Corporate Agent; Be an Agent (Individual) Plan NAV . Single receipt will be issued if payment is made for more than one policy by the policy holder. For further help regarding login issues and any changes in online portal profile, you may mail at portalsupport@licindia.com. Other than … The Surrender Value is only payable after full payment of premiums for at least 3 years. The policy gets assigned to the lender till the loan is paid back in full by the borrower. Click Confirm and Proceed to buy the premium by paying the amount through online. 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. As and when amount received and accounted at LIC, the receipt will be dispatched/emailed to customer. Customers have to fill an online form and provide document proofs to the portal. Whether I can make the payment through cheque? Last premium before maturity under Qly & MLY mode cannot be paid online. You will receive a payment receipt in th registered e-mail ID and yes! What are the charges for the payment through BILL PRESENTMENT? All inforce policies except ULIP, HELATH and E-TERM policies can be registered through Bill Pay. This convenience fee is not collected by LIC, but is paid to the card network. Credit cards allowed are VISA, Master and Amex. Enter Policy Details and Pay using NetBanking or Debit/Credit Cards. Deposit up to date premiums for the policy ( all the dues) and re-register for NACH by submitting fresh mandate to Servicing Branch. Now they can make everything through the online within few clicks. 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. In case of an unsuccessful transaction you will be informed and the reason thereof. If you want to buy the best LIC policy for a child, there are two plan options which you can consider. To download LIC premium receipt on Paytm App, policyholder is requested to visit “My order” section on Paytm app, select the order and click on “Download Receipt”. How should the Bank Account Number be written on the mandate form? Whether any other receipt will be issued to me? This is an easy way to pay your insurance premiums conveniently without any hassle. If you have taken any RIDER along with your policy, then payment has to be made within the grace period only. 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. 2. 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. The policyholder needs to pay the convenience fees and service tax for processing the LIC Premium payment. Premium can be paid for all Inforce ordinary policies except for ULIP, Health and E-term policies. How much time is taken for the registration? (Where payment is made through DIRECT PAY). It then displays the payment details according to the premium selected. As per the rules and regulations, the bonus also gets attached to it if the policy is participating one. 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...! What is an e-receipt? Policyholders can choose to pay their premiums through LIC’s official website, via Credit/Debit Card or Net Banking. 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). 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. , Axis Bank card holders are extended a facility by Axis Bank by absorbing convenience fee for their customers. Whether the NACH mandate form can be collected from any LIC Branch? The updation of premium normally is in real time. This can be printed or mailed to the email id you have specified during your Registration. Premium entered is incorrect in case of going through LIC Pay Direct. This facility is absolutely free for the policyholders of LIC. 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. 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. Money back policy is a traditional policy gives you life protection along with savings, this plan provides you periodic payments during the policy tenure. This functionality is available only to registered customers who have enrolled their policies. Valid, signed Premium receipt will be issued by the Collection Center immediately. Remember, you may enrol policies of which you are either the Proposer or Life Assured. There are about 60 reasons for mandate rejection. You no more have to commute to nearby LIC centre and stand in the long queue to get your LIC premium payment done. Whether any extra charges be collected by the Service Provider? A flat fee for Debit Card and Net Banking transactions is absorbed by LIC. Kindly use the options “Forgot user-id” and “Forgot Password” available on LIC website. 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. You may have to give the bank account details and other requisite details as required by the service provider. Now the payments can be made using VISA/Master Credit Card (Domestic Only) with some convenience charges. LIC Policy premium can be deposited either in online or offline mode. Quick Links . Signed, valid premium receipt will be issued immediately. For detailed documentation on how to verify the digital signature on the e-receipt. However, in a recent development LIC of India has issued a new circular on 28/09/2018. There are two ways through which we can get the LIC policy receipt-offline and online. 24 Feb. How to pay LIC premium online? What are the Payment modes available on PayTM app? Premium can be paid 30 days before the due date to till the policy is in force. Single receipt will be issued if payment is made for more than one policy by the policy holder. Policy schedule First page of policy bond which constitutes policy schedule, will be displayed. After the cash payment for due LIC premium, a common mode of payment is LIC premium through Cheque. Then the following page appears, you need to mark the options and click submit to process your payment. Yes, it is possible. » There is no further registration involved at the service provider end. 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. I have bank account in Mumbai, but my policy is being serviced by Delhi Branch. Whether the receipt issued by Cash Counter can be submitted by IT authorities? Nehru Place,New Delhi-110034, Email Us: info@licind.co.in Sales@licind.co.in. Premium should be paid across the cash counter in the branch all the dues till the date of payment. All modes are allowed for premium payment except Salary Saving Scheme policies. Enter Policy Details and Pay using NetBanking or Debit/Credit Cards. We request you to kindly adopt only one mode of premium payment. 24 X 7 anywhere & anytime access to internet. Authorized Agents/Retired employees/Chief Organizers/Senior Business Associates/LIC Associates will be issued a login-id and password on LIC portal through which collections can be done. You Can Pay Your LIC Premium Via Amazon Pay Balance Also. What are the benefits of paying your LIC premiums through PORTAL? Which agents/retired employees and chief organizers can collect the premium? The main benefit of having the LIC Policy is that the individuals can avail of the benefit of tax deduction. Here, the problem arises when you have misplaced the receipt, or you may not have received on your e-mail id. This facility is available to all new policies as well as existing policies including ULIP policies. Please verify your balance (displayed) and confirm the transaction to the bank. 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. Premium position will be updated on real time basis. By registering customers will be able to check their status online. Payment of premium is allowed from1 month prior to the due date till the policy is in force. As mentioned in the message displayed at the time of premium payment, for such cases receipt is generated within 3-4 working days when the payment is received, and will be sent to the mail-id mentioned in the profile. Receipt can be obtained by giving policy number and transaction date. 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”. Letters are printed at NACH Centers . But Policy Holder should have account of, Which Banks having the facility of paying the premium through, Receipt will be posted to the address mentioned in the policy records after two or three days of accounting by LIC in case of, Payment can be made in any bank branch or extension counter throughout the country by cash or. ATM facility is available with AXIS BANK and CORPORATION BANK. This facility is available for all non-ULIP policies. Follow the below steps to register and check the status online. You can also view your premium dues and other policy details. No, presently payment can be made only by cash. LIC launched many online services for convinces of the policyholder. In case of any change in email id please get the same updated at LIC Branch Office/Customer Zone. Through online payment, you can pay your premium anytime and anywhere on a timely basis. No other receipt will be issued by LIC and sent by post. For payment through Debit Card, Net-Banking, UPI and wallets Nothing is charged to customer. 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. At the bank site you will need to login with your net banking username/password. After grace period is over, the same cannot be accepted through online portal. Whether premium will be accepted at cash counter during Pendency of the mandate i.e., awaiting response from the destination bank ? Can I opt for NACH? 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. It is the value or the amount paid to the policyholder on discontinuation of policy and collects it from LIC. Which Banks having the facility of paying the premium through ATM ? From where I will get the refund, in case it happens to be a double payment. Make premium payment for your enrolled policy using NetBanking or Debit/Credit Cards. Duplicate receipts cannot be printed in any case. Enquiry of Outstanding Claims for the Current Year, Policy for protection of interests of policyholders. LIC has agreements with the authorized banks/service providers wherein LIC will pay a mutually agreed charge per transaction on monthly basis. However, Axis Bank card holders are extended a facility by Axis Bank by absorbing convenience fee for their customers. Tag - LIC policy online payment. Whether it is valid for Income tax purpose? A loan is a LIC policy is a loan that can be availed against the security of your LIC policy. To make payments for their plans and policies in a secure and convenient manner, LIC has set up a special portal known as ‘Online Services’ which is an on-demand premium collection service. 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 . If the account is debited and receipt is not generated, it may be due to session timed out or any other technical reason. MLY and Salary Saving Scheme (SSS) mode policies are not accepted through this payment mode. Yes, premium can be paid at cash counter in Cash or Cheque during the pendency of the mandate. 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. How to register for premium payment through Bill Pay/ATM? 30 to 40 percent rejections are due to signature mismatch. Whether all policies can be registered through Bill Pay? LIC Premium Points- Empowered LIC Agents, Retired LIC Employees, Chief Organizers, Life Plus Offices – Senior Business Associates & LIC Associates. 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. You can choose the bank account you want to pay from. How to Pay LIC Premium Payment Online with Paytm? TDS would be deducted @ 5% only if the maturity benefit payable under the plan is more than INR 1 lakh. Convenience Fee and other charges for different payment modes. Standing instructions also can be given to the bank/service provider to debit the account on a specific date. Amount can be paid through net banking/credit card/debit card or any mode through which the payment is registered by you. What are the important points to be noted for availing this payment facility? The policies are as follows – 1. Breaking News : LIC premiums can now be paid at the nearest CSC centres throughout the country. 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. Digital Signature not present on receipt. Make Payment Via Amazon ICICI Card And Get 2% Cashback. 7th, 15th, 22nd and 28th of the month. Premium for E-term policies cannot be collected. LIC Children Money Back Plan Premium payment through LIC website: lic online Payment. You can choose the bank account you want to pay from. W.E.F. » Premium for ULIP policies can now be paid at any LIC Branch cash counter across the country. Customer will not be charged for availing this payment facility. As and when amount received and accounted at LIC, the receipt will be dispatched/emailed to customer. Yes, the receipt is valid, signed receipt. 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. On successful login, the total amount to be paid by you towards LIC will be displayed. What is to be done in case of Mandate Failure? Who authorized by MKTG, Central Office can collect the premium. The payment gateway (PG) initiative is an important component of the offer. » And above all there is no charge for you to avail this service. No, payment can be made only by Cheque drawn on that Bank. SMS is being sent to Agent for rejection of mandate on the Mobile number registered in agency attached Branch. Also on ALL POSSIBLE digital modes through LIC website without any service charges. Regarding the second option in Customer services, View pay premium … Under the LIC Kanyadan policy, you can increase or decrease the premium payment according to your income. You have to add LIC as biller with the policy details and other requisite information. You can make premium payment within the comforts of your home or office, and avoid personal visit to LIC branch. Select the bank and click on the ‘submit’ button. It is trusted by all policyholders as it is controlled by the government of India. How does LIC acknowledge the registered policy details? You can pay the premium for Kanyadan Policy according to your convenience. Debit cards allowed are VISA, Master and Rupay. There can be multiple reasons for not being able to make payment online-. There is no need to submit NACH mandate form for existing ECS policies. Whether I can make the payment through cheque drawn on any other bank? LIC Branch where the amount was deposited by the AGENT/SBA has to take the dishonour action. 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.
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