How to Pay LIC Premium Through Credit Card: Paying your LIC premium on time is crucial to keeping your policy active. While traditional payment methods like net banking and UPI are common, many policyholders prefer using credit cards for added benefits like cashback, reward points, and EMI options.
If you’re wondering how to pay your LIC premium through a credit card, this guide will walk you through the step-by-step process using LIC’s official portal, third-party payment apps, and bank bill payment services.
Methods to Pay LIC Premium Using a Credit Card
There are multiple ways to make your LIC premium payment through a credit card. These include:
- LIC’s Official Website – Secure and direct payment through LIC e-Services.
- Third-Party Payment Platforms – Apps like Paytm, Google Pay, PhonePe, and Amazon Pay.
- Bank Bill Payment Services – Using net banking or mobile banking to add LIC as a biller.
- Auto-Debit Facility – Setting up a recurring payment from your credit card.
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Let’s explore each method in detail.
Paying LIC Premium Through LIC’s Official Website
The most secure way to pay your LIC premium using a credit card is through the LIC e-Services portal. Here’s how:
Step-by-Step Guide:
- Visit the LIC website (www.licindia.in).
- Click on “Pay Premium Online” on the homepage.
- Choose one of the following options:
- “Pay Direct (Without Login)” – Quick payment option for one-time transactions.
- “Through Customer Portal” – Requires login for registered users and provides policy history.
- Enter your policy number, date of birth, and mobile number for verification.
- Select your policy and click “Proceed to Payment”.
- Choose Credit Card as the payment method.
- Complete the payment and download the receipt for reference.
✅ Benefits:
- Instant payment confirmation.
- No need for third-party apps.
- Option to track previous payments in your LIC account.
❗ Things to Consider:
- LIC may charge a small convenience fee for credit card payments.
- Ensure your card has enough credit limit before making the payment.
Paying LIC Premium via Third-Party Payment Platforms
Many digital wallets and online payment platforms allow you to pay your LIC premium with a credit card. Popular apps include:
- Paytm
- Google Pay
- PhonePe
- Amazon Pay
How to Pay LIC Premium Using a Payment App:
- Open your preferred payment app.
- Go to the “Insurance” or “LIC Premium Payment” section.
- Enter your LIC policy number and verify details.
- Choose Credit Card as the payment option.
- Complete the payment and save the receipt for future reference.
✅ Benefits:
- Cashback offers and reward points.
- Quick and user-friendly.
- Notifications for premium due dates.
❗ Things to Consider:
- Some apps charge a service fee for credit card payments.
- Ensure the app supports LIC payments via credit card before proceeding.
Paying LIC Premium Using Bank Bill Payment Services
Many banks allow you to add LIC as a biller and pay directly from your credit card. Here’s how:
Steps to Pay via Net Banking/Mobile Banking:
- Login to your bank’s net banking or mobile banking app.
- Go to the “Bill Payments” or “Insurance Payments” section.
- Select “Add Biller” and choose LIC India.
- Enter your LIC policy number and register it.
- Select Credit Card as the payment method.
- Confirm the payment and save the receipt.
✅ Benefits:
- Safe and direct payment through your bank.
- Option to enable auto-pay for future premiums.
- Some banks offer EMI options for credit card payments.
❗ Things to Consider:
- Banks may take 1-2 working days to process bill payments.
- Check with your bank if credit card payments are accepted for LIC premium payments.
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Setting Up Auto-Debit for LIC Premium Payments
To avoid missing payments, you can set up an auto-debit for your LIC premiums.
How to Enable Auto-Debit on a Credit Card:
- Login to LIC’s e-Services and navigate to Auto-Debit Registration.
- Enter your policy details and credit card information.
- Choose the payment frequency (monthly, quarterly, half-yearly, or yearly).
- Verify and confirm the request.
✅ Benefits:
- No missed payments, ensuring policy remains active.
- Saves time and effort.
- Peace of mind with automatic deductions.
❗ Things to Consider:
- Keep track of your credit card limit to avoid failed transactions.
- Some credit card providers charge a processing fee for auto-debit setups.
Are There Any Charges for Paying LIC Premium With a Credit Card?
Yes, LIC and payment gateways may charge a small convenience fee for credit card transactions.
| Payment Method | Charges (Approximate) |
|---|---|
| LIC Official Website | 1%-2% of the premium amount |
| Paytm/Google Pay/PhonePe | 1.5%-2% convenience fee |
| Net Banking via Bank | Varies by bank |
📌 Tip: Some credit cards offer cashback or fee waivers for LIC payments—check with your provider!
Can You Get Cashback or EMI Options for LIC Premium Payments?
Many credit card providers offer benefits for insurance payments:
✅ Cashback & Rewards:
- HDFC Millennia Credit Card – 5% cashback on online payments.
- SBI SimplyCLICK Card – Extra rewards for LIC payments.
- Axis Flipkart Credit Card – 1.5% cashback on utility and insurance bills.
✅ EMI Conversion:
- Some banks allow you to convert LIC premium payments into EMIs for amounts above ₹5,000.
- Contact your credit card issuer to check eligibility.
Things to Keep in Mind While Paying LIC Premium With a Credit Card
✔ Use a reliable platform – Prefer LIC’s official site or trusted payment apps.
✔ Check for hidden fees – Be aware of any extra charges before proceeding.
✔ Keep track of due dates – Set reminders to avoid late fees.
✔ Save the payment receipt – Essential for proof of payment and tax filing.
Conclusion
Paying your LIC premium with a credit card is simple and offers multiple advantages, including reward points, cashback, and EMI options. Whether you choose LIC’s official website, a payment app, or bank bill payments, each method ensures your policy remains active without hassle.
💡 Pro Tip: If you frequently pay LIC premiums, consider setting up an auto-debit facility or using a credit card that offers rewards for insurance payments.
If you have any questions, feel free to drop them in the comments below! 🚀
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FAQs
1. Can I pay my LIC premium with a credit card?
Yes, you can pay your LIC premium using a credit card through multiple methods, including the LIC official website, third-party payment apps (Paytm, Google Pay, PhonePe, Amazon Pay), and bank bill payment services. Some credit cards also offer cashback and rewards on LIC premium payments.
2. Can I pay life insurance premium with a credit card?
Yes, many life insurance providers, including LIC, allow policyholders to pay premiums using a credit card. You can do this via:
- The official website of your insurer.
- Online payment apps.
- Bank bill payment services.
However, some platforms may charge a convenience fee for credit card transactions.
3. Can you use a credit card to pay an insurance premium?
Yes, most insurance companies, including LIC, allow customers to pay premiums via credit card. Using a credit card can be beneficial because it offers:
- Reward points on transactions.
- Cashback offers (depending on the credit card).
- EMI conversion for large premium amounts.
Ensure you check for any transaction fees before making the payment.
4. How to pay LIC premium through a credit card without charges?
Most payment platforms charge a small fee (1%-2%) for using a credit card. However, you can avoid or reduce charges by:
- Using credit cards that offer fee waivers on insurance payments (e.g., some HDFC, SBI, or ICICI cards).
- Paying through bank bill pay services that might have lower or no extra fees.
- Checking cashback offers that effectively negate the transaction cost.
Always compare available payment methods and offers before making a payment.
5. How to pay LIC premium through a credit card online?
You can pay LIC premiums online via credit card through the following steps:
Method 1: LIC Official Website
- Visit www.licindia.in and click “Pay Premium Online”.
- Choose “Pay Direct (Without Login)” or login via the Customer Portal.
- Enter your policy details and verify.
- Select Credit Card as the payment method.
- Complete the payment and save the receipt.
Method 2: Payment Apps (Paytm, Google Pay, PhonePe, Amazon Pay)
- Open your preferred payment app.
- Go to “Insurance” or “LIC Premium Payment”.
- Enter your policy number and verify.
- Choose Credit Card and proceed with payment.
Method 3: Bank Bill Payment Services
- Log in to your bank’s net banking or mobile banking app.
- Navigate to “Bill Payments” and select LIC as a biller.
- Enter your policy number and register it.
- Select Credit Card as the payment option and complete the payment.