Here’s how to pay LIC premiums via UPI -- Check step by step process

Policyholders can use popular UPI platforms such as Google Pay or Paytm for paying LIC premiums.

New Delhi: Life Insurance Corporation of India (LIC) allows policyholders to pay their premiums via UPI. The country's largest life insurance company has recently provided the facility to pay their premiums via UPI. 

Previously, policyholders had the only options of paying the money against their LIC policies via online banking and debit or credit cards. But now, investors can make the payments through UPI. Policyholders can use popular UPI platforms such as Google Pay or Paytm for paying the premiums.

Here’s how to pay LIC premiums via UPI on Google Pay App:

Step 1: On the Google Pay app, you will have to go to the bill payment section. 

Step 2: Now, you will have to select the insurance option under the Finance & Taxes section. 

Step 3: From the available options, you will have to select LIC. 

Step 4: You will now have to link your LIC Policy with the platform. Enter your policy number, e-mail ID, and other details to link account. Double check the details before submitting. 

Step 5: You will be able to pay the premium for your LIC policy once the account is linked. 

Here’s how to pay LIC premiums via UPI on Paytm App:

Step 1: Go to the Paytm app on your smartphone. 

Step 2: Vist the 'Recharge & Bill Payments' section. 

Step 3: Click on the ‘view more’ option. 

Step 4: You will now have to visit the 'Financial Services' section.

Step 5: Click on the LIC/Insurance option on the app. 

Step 6: Select the LIC option in this step.

Step 7: You will be able to see the 'Pay Insurance Premium' option.

Step 8: You will now be required to enter the LIC Policy details. Also Read: Good news! Kotak Mahindra Bank hikes FD interest rates; check latest fixed deposit rates

Step 9: Once the policy is linked successfully, you will be able to make payments for your LIC Premiums on the Paytm app. Also Read: boAt Airdopes 500 ANC launched with noise cancellation feature: Price, Specs