6 min read
Updated on Sep 12, 2023
LIC, with its huge customer base, focuses on customer-centricity by keeping itself updated to enhance customer convenience. The online mode of payment makes the payment of premiums, loans, and interests for LIC policies smooth for the customer. Rather than visiting an LIC branch, now you can get the work done with just a few clicks. In this post, let’s look at the various LIC premium payment modes, including LIC payments with credit cards.
There are several ways in which LIC premiums can be paid by customers, which are primarily segregated into two modes – Online and Offline. Due to its convenience and smooth functionality, online modes of payment have gained more acceptance among customers, of late.
Below are the available modes of payment (Online and Offline) offered by LIC:
Offline Modes of Premium Payment
Online Payment Gateways
Credit cards can be used to pay LIC premiums for policies. However, a convenience charge is associated with premium payment through a credit card, which is entirely borne by the insurer. Further, in a recent update, LIC declared that no convenience charge or any other extra payment will be attached to the customer while making premium payments via credit cards for LIC policies. So, LIC customers can easily use their credit cards to pay the premium via the LIC online portal. This has made credit cards one of the most preferred payment modes for many policyholders.
It is to be noted that to access LIC’s online payment features, a policyholder must register themselves with LIC’s online portal and enrol the policy in the portal. However, if you are a new user or a user not registered with the portal, you can pay through the LIC pay-direct option. This option is available in the LIC app as well as in the official portal of the insurer. Also, new users can use the portal to register and use the credit card facility to pay LIC premiums.
Let us discuss the stepwise guide on the process of paying LIC premiums with a credit card.
Below is a comprehensive guide on how to pay LIC premiums through credit cards for both new users and registered ones:
In addition to the above procedures, LIC customers can also use the MyLIC App, the mobile application of LIC. This app can be downloaded from the Play Store. Once you download the app, you have to register yourself as well as enrol in your policies to make LIC premium payments with your credit card using the app. You even have the option of saving your credit card details for smooth subsequent transactions.
As discussed in the post above, the online payment modes of LIC, including its mobile applications, have made premium payments fast and convenient. There are several modes, as mentioned above, including LIC credit cards, to make the LIC premium payment. A LIC customer can use any one of the modes to make the LIC premium transaction smoothly.
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Yes, you can make premium payments for LIC via credit card.
Yes, you can use your credit card to make LIC premium payments. However, you have to register yourself on the official LIC portal to make payments of LIC policies via credit card.
The process of making LIC premium payments using a credit card is very simple. The post above mentions the details of using credit cards to make payments for both new and registered users.
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