In this digital era, paying LIC premiums has become easier than ever with numerous LIC premium payment options available. Understanding these various options helps ensure that policyholders do not miss their LIC premium payments, thereby maintaining their LIC policy status active without any hiccups.
LIC Premium Payment
LIC premium payment options serve to alleviate the stress of manual transactions and enable secure, convenient, and flexible payment methods. These varied options cater to the customer’s diverse needs and come with their own set of merits.
There are typically two primary modes for making the LIC premium payment. The policyholder can either choose the offline payment option, where they could visit the nearest LIC branch to pay the premium in person, or opt for online payment options, which are hassle-free and accessible from anywhere, anytime.
The online LIC premium payment had been lauded for its user-friendly nature and diverse options. Policyholders can use credit/debit cards, net banking, wallets, or UPI applications to pay their premiums online.
LIC Policy Status
With the rise in digital transactions and online methods, the monitoring of the LIC policy status has also become a swifter process. Policyholders can now check their policy status online, anytime, anywhere. An active LIC policy status ensures you stay insured and keep receiving the policy benefits.
LIC’s official site gives provision for viewing detailed policy status. The policyholder just needs to register their policy number, post which they can check the policy status online, pay premiums, track loan status, among other services.
Bajaj Finserv BBPS platform
For tech-savvy policyholders, the Bajaj Finserv BBPS platform has emerged as an attractive alternative for making LIC premium payments. The BBPS is an RBI-managed, integrated bill payment platform that serves as a one-stop solution for bill payments, including that of LIC premiums.
To use the Bajaj Finserv BBPS platform, you need to visit the website or download the application. Once registered, you get access to pay your bills anytime, anywhere with just a few clicks.
Here’s how you can make your LIC premium payment using the Bajaj Finserv BBPS platform:
Step 1: Log into the Bajaj Finserv BBPS platform.
Step 2: Under the insurance payment option, select ‘Life Insurance Corporation of India (LIC)’.
Step 3: Provide your LIC policy number to retrieve your policy details.
Step 4: After the policy details are displayed, proceed with the payment by choosing from the listed payment options.
Step 5: Once the payment is successful, an e-receipt is generated as proof of payment.
The beauty of this platform is you can also use the Bajaj Finserv BBPS platform to recharge your mobile, pay your DTH bills, and make many other utility bill payments. Download Bajaj Finserv App to enjoy these convenient features.
Conclusion
The LIC premium payment process in 2024 has evolved tremendously, leveraging technology to ensure policyholders can pay premiums and examine their LIC policy status with ease from the comfort of their homes. Instruments like the Bajaj Finserv BBPS platform make it quick, secure, and easy to make premium payments and manage multiple bills with a single click. Ensure to utilize these platforms to the fullest and maintain an active LIC policy, securing both your present and future.
