The fastest way to pay LIC online is through the official LIC website or mobile app using your policy number and a debit card, credit card, or net banking account
Life Insurance Corporation (LIC) of India lets you pay premiums directly through their website (lic.co.in) or the LIC mobile app without visiting an office. You will need your policy number, the amount due, and a payment method — debit card, credit card, or net banking access. The payment goes through immediately, and you receive a confirmation number and receipt by email.
LIC also accepts payments through third-party platforms like BHIM, Google Pay, PhonePe, and Paytm, though these route through the same LIC system. Paying online stops late fees from accruing and keeps your policy active without interruption.
Key Takeaways
- Pay through lic.co.in or the LIC mobile app using your policy number, and the payment clears the same day.
- You can use a debit card, credit card, or net banking; credit card payments may incur a convenience fee set by your bank.
- Save your confirmation number and email receipt as proof of payment in case of a dispute.
- If your payment fails, check that your card or bank account has sufficient funds and that your card is not blocked for online transactions.
- Payments made after the due date may still incur a late fee, even if you pay online.
Steps to pay on the LIC website
Go to lic.co.in and look for the "Pay Premium" or "Online Payment" link on the homepage. Click it and enter your policy number. The system will show your outstanding premium amount and due date. Select your payment method — debit card, credit card, or net banking — and proceed.
If you choose a debit or credit card, enter the card number, expiry date, and CVV. For net banking, select your bank from the dropdown and log in with your banking credentials. Review the amount one more time before confirming. Once the payment is processed, you will see a confirmation page with a transaction ID. LIC will send a receipt to the email address linked to your policy within a few minutes.
Keep the transaction ID and receipt. If your bank later disputes the charge or if LIC's records do not update, you will need this proof to resolve it quickly.
Using the LIC mobile app
Download the official LIC mobile app from the Google Play Store (Android) or Apple App Store (iOS). Open the app, tap "Pay Premium," and enter your policy number. The app will display your due amount and payment options.
Select your preferred payment method and complete the transaction. The app shows your payment history and upcoming due dates, so you can track when your next premium is due. Notifications remind you before the due date arrives, which helps you avoid late fees.
Payment methods and fees
LIC accepts debit cards, credit cards, and net banking. Debit card and net banking payments usually have no additional fee. Credit card payments may carry a convenience fee — typically 1 to 2 percent of the premium amount — charged by your card issuer, not by LIC. Check with your bank before paying with a credit card if the fee matters to your budget.
Some banks offer cashback or reward points on LIC premium payments made through their cards or net banking portals. Log into your bank's website or app to see if your account qualifies. Third-party payment apps like Google Pay or PhonePe may also offer cashback, though the underlying payment still goes through LIC's system.
What to do if your payment fails
If your payment does not go through, check that your card or bank account has enough funds. Some banks block online transactions by default for security; log into your banking app and enable online payments if needed. Try again using a different payment method — if your debit card fails, try net banking or a credit card instead.
If the payment fails a second time, contact your bank's customer service to confirm your card or account is not flagged. Once your bank clears the issue, return to lic.co.in and retry the payment. Do not attempt the same transaction more than twice in quick succession, as multiple failed attempts can temporarily lock your card.
If you see a charge on your statement but LIC's website does not show the payment as received, note the transaction ID and contact LIC's customer service with proof. They can trace the payment and credit it to your policy if it was genuinely processed but not recorded.
Late payments and grace periods
Paying online after your due date does not erase a late fee. LIC charges a late fee if payment arrives after the due date, even if you pay the same day online. However, most LIC policies have a grace period — usually 30 days from the due date — during which you can pay without the policy lapsing. Paying within the grace period keeps your coverage active.
If you miss the grace period, your policy lapses and you lose coverage. Reviving a lapsed policy requires a new application and medical underwriting, which takes time and may cost more. Set a phone reminder for a few days before your due date so you do not miss the window.
Keeping records of your payments
Save every email receipt LIC sends you after a payment. These receipts show the transaction ID, amount paid, date, and policy number — everything you need if a payment is disputed or if your records and LIC's records do not match. Store receipts in a folder on your email or download them as PDFs and keep them on your computer.
Log into your LIC policy account regularly to check that each payment has been recorded. The website shows your payment history and the next due date. If a payment you made does not appear within 3 to 5 business days, contact LIC immediately with your receipt and transaction ID.
Frequently Asked Questions
Can I pay my LIC premium using a debit card from a bank other than LIC?
Yes. LIC accepts debit cards from any Indian bank. Enter your card number, expiry date, and CVV on the payment page. Your bank processes the transaction, and the funds go to LIC. No fee is charged for debit card payments.
What if I pay online but my policy still shows as due?
Payment processing can take 3 to 5 business days to appear in LIC's system, especially if you paid late in the day or on a weekend. Check again after 5 business days. If it still does not show, contact LIC with your transaction ID and receipt. They can manually verify the payment and update your account.
Is it safe to pay LIC premium online?
LIC's website and app use encryption to protect your card and banking details. Never share your policy number, card details, or OTP with anyone claiming to be from LIC. LIC will never ask for this information by phone or email. Pay only through lic.co.in or the official LIC app, not through links in emails or texts.
Can I set up automatic premium payments online?
LIC does not offer automatic recurring payments through their website. You must log in and pay manually each time your premium is due. Set a phone reminder a few days before the due date, or check your LIC account monthly to stay on top of payments.
What happens if I pay more than the premium amount?
If you overpay, LIC credits the extra amount to your next premium or refunds it. Check your policy account after payment to see how the overpayment was handled. If you want a refund instead of a credit, contact LIC's customer service with your transaction details.