Know about LIC premium payment online
Established on September 1, 1956, the Life Insurance Corporation of India was created with the aim of making life insurance accessible to a broader audience, especially in rural areas. The goal was to provide adequate financial protection to all insurable individuals across the country at an affordable cost. As a well-known insurance provider in India, LIC offers a variety of comprehensive insurance products designed to safeguard individuals and their families.
Now, customers have the convenience of paying their LIC premiums through Bajaj Pay. The Bharat Bill Payment System (BBPS), introduced by the RBI, serves as an integrated online platform for various bill payments, ensuring a secure and convenient way to pay bills such as electricity and water.
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Benefits of paying LIC premium online on Bajaj Finserv
- Quick and hassle-free
Bajaj Finserv provides a safe and secure payment platform on BBPS. Your LIC premium payment details are secure with the platform’s robust security measures. - Safe and secure
Bajaj Finserv provides a safe and secure payment platform. Your LIC premium payment details are secure with the platform’s robust security measures. - Multiple payment options
Bajaj Finserv offers multiple payment options, including debit card, credit card, net banking, e-wallet, and UPI. This allows you to choose the payment method that suits you best. - Instant confirmation
After making the payment, the platform immediately confirms the payment through an email and SMS.
Check the best LIC Plans including term plans, pension plans, and more
Plan type
Sum assured
Term
LIC Single Premium Endowment Plan
Rs. 50,000
25 years
LIC New Endowment Plan
Rs. 1 lakh
35 years
LIC New Jeevan Anand
Rs. 1 lakh
35 years
LIC New Jeevan Lakshya
Rs. 1 lakh
25 years
LIC New Money Back Plan - 25 Years
Rs. 1 lakh
25 years
LIC’s Jeevan Tarun
Rs.75,000
25 – (minus) Entry age of the policyholder
LIC's Anmol Jeevan II
Rs. 24 lakhs
25 years
LIC's e-Term
Rs. 25 lakhs (Rs. 50 lakhs for non-smokers)
35 years
Jeevan Akshay-VI
Rs. 1 lakh
N.A.
LIC’s Bhagya Lakshmi
Rs.50,000
2 years + premium paying term (PPT)
Renew other life insurance premiums
Bajaj Finserv also allows you to renew insurance premiums for other insurers such as:
Fees and charges
A convenience fee of up to 2% will be charged depending on the transaction amount and payment mode (inclusive of applicable taxes). For more information on fees and charges, click here.
Note: For failed transactions, the total amount including charges except taxes are reversed.
- Quick and hassle-free
Steps to make LIC premium payment online on the Bajaj Finserv app
You can make LIC premium payment online using the Bajaj Finserv app by following these steps:
- Download the Bajaj Finserv app from the Google Play Store or App Store and install it on your device
- Open the app, log in, or register if you are a new user
- Go to ‘BILLS AND RECHARGES’ and select ‘LIC/ INSURANCE’ under ‘FINANCIAL SERVICES AND TAXES’ section
- Choose ‘LIC’ as your issuer
- Enter your policy number and DOB and click on ‘FETCH YOUR BILL’
- Select a payment method from the list of available payment options such as credit cards, debit cards, e-wallet, UPI, and net banking
- After choosing your preferred payment mode, enter the requested payment details
- Check the details you entered and click on 'PAY NOW’
You will receive a notification from Bajaj Finserv after successful payment.
Steps to pay LIC premium on the Bajaj Finserv website
Here is how you can pay for your LIC premium on the Bajaj Finserv website:
- Visit the Bajaj Finserv website
- Go to the ‘BILLS AND RECHARGES’ under the ‘PAYMENTS’ section
- Under ‘FINANCIAL SERVICES AND TAXES,’ select ‘LIC/INSURANCE’
- Choose your biller from the drop-down
- Enter your loan number and click on ‘FETCH YOUR BILL’
- Select a payment method from the list of available payment options such as credit cards, debit cards, e-wallet, UPI, and net banking
- After choosing your preferred payment mode, enter the requested payment details
- Check the details you entered and click on 'PAY NOW’
You will receive a notification from Bajaj Finserv after successful payment.
Recharge and Pay Bills
Bajaj Finserv App for All Your Financial Needs and Goals
Trusted by 50 million+ customers in India, Bajaj Finserv App is a one-stop solution for all your financial needs and goals.
You can use the Bajaj Finserv App to:
- Apply for loans online, such as Instant Personal Loan, Home Loan, Business Loan, Gold Loan, and more.
- Explore and apply for co-branded credit cards online.
- Invest in fixed deposits and mutual funds on the app.
- Choose from multiple insurance for your health, motor and even pocket insurance, from various insurance providers.
- Pay and manage your bills and recharges using the BBPS platform. Use Bajaj Pay and Bajaj Wallet for quick and simple money transfers and transactions.
- Apply for Insta EMI Card and get a pre-approved limit on the app. Explore over 1 million products on the app that can be purchased from a partner store on Easy EMIs.
- Shop from over 100+ brand partners that offer a diverse range of products and services.
- Use specialised tools like EMI calculators, SIP Calculators
- Check your credit score, download loan statements and even get quick customer support—all on the app.
Download the Bajaj Finserv App today and experience the convenience of managing your finances on one app.
Frequently asked questions
LIC, which stands for Life Insurance Corporation of India, began working as a company in September 1956. This happened after the Indian government passed a law called the Life Insurance of India Act in June 1956. LIC was created by combining 154 life insurance companies, 16 foreign companies, and 75 provident companies. Now, LIC is one of the biggest financial institutions in India, with assets worth more than 2,529,390 crores. The main office of LIC is in Mumbai, Maharashtra.
There are two main ways to check your LIC policy status:
Online: Visit LIC's website (https://licindia.in/) and log in to the customer portal using your registered ID and password. Once logged in, you can find the status of your policy under sections like "Policy Status" or "Policy Enquiry".
SMS: Send an SMS with "ASKLIC <policy number> STAT" to 56767877 from your mobile number registered with LIC. You'll receive an SMS response with your policy status details.
Yes, you can pay your LIC renewal premium through Bajaj Finserv. They act as a payment facilitator using the Bharat Bill Payment System (BBPS). Here is how:
- Visit the Bajaj Finserv website or download their app.
- Go to the ‘BILLS & RECHARGES’ section and select ‘LIC/INSURANCE’ under ‘FINANCIAL SERVICES AND TAXES’.
- Choose ‘LIC’ as your biller and enter your LIC policy number and date of birth.
- Click on ‘FETCH BILL’ to retrieve your premium amount.
- Select your preferred payment method from options like debit card, credit card, net banking, or UPI.
- Make the payment and keep the receipt for reference.
The LIC premium payment online facility is available 24/7, allowing policyholders to make payments at any time that is convenient for them, including weekends and holidays.
Yes, Bajaj Finserv also provides other recharge services such as:
The maturity amount of an LIC policy is the final sum received upon the policy’s maturity or as a death benefit if the policyholder passes away during the term.
In participating plans, the maturity value includes:
Sum Assured: The basic guaranteed amount.
Bonuses accrued during the policy term.
Any declared Final Addition Bonus.
Life Insurance Corporation of India (LIC) is a government-owned insurance company. It was established in 1956 as a statutory corporation by the Government of India through the Life Insurance Corporation Act, 1956.
To download your LIC premium payment receipt online, log in to the Bajaj Finserv customer portal using your credentials. Navigate to the insurance section and select your LIC policy. You will find an option to view and download your payment receipts. Ensure you save a copy for your records.
To check your LIC due payment, access the Bajaj Finserv customer portal and log in with your credentials. Go to the insurance section and select your LIC policy. Here, you can view the due date and the amount payable for your next premium. This ensures you stay updated on your payment schedule and avoid any late fees.
