How to pay LIC premium through Paytm?

In the world of digitalization, there are many forms of digital payment that help you to pay your bill anytime and anywhere. Mobile wallets are one of these payment systems which help you to do all your payment-related work directly from your mobile. Recently Paytm, one of the mobile wallets in India allowed its users to pay the Insurance premium. Now you can pay LIC  premium through Paytm of all the life insurers through Paytm including LIC of India.  Let us know how to pay the LIC insurance premium through Paytm.

Step 1: Open/Download Paytm

To pay lic premium through Paytm open your Paytm app or visit the website of Paytm on the desktop. If you do not have a Paytm app on your mobile, you can download it from Google Play Store or Apple app store.

Step 2: Choose Insurance in Bill Services

You will see a different bill payment option on the homepage of the Paytm application. Choose Insurance Tab from these bill services. There is one more tab about insurance available it is  Life Insurance, this tab is to buy a new life insurance plan and not for payment of the renewal premium of your old policy. Please see the screenshot below to pay lic premium through paytm.

Step 3: Select LIC of India to pay the premium

After choosing Insurance, a new page will open. Here you will see Select your Insurer. Click on it and now you will able to see the name and logos of all the insurance service providers. To pay the LIC premium through Paytm, simply click on the LIC logo pay lic premium through paytm.

Step 4: Enter your policy number

When you click the LIC logo on the previous page, you will be redirected to the new page. Here you will see the LIC of India written on top and you will see a place to provide your LIC policy number. Just type your 9 digits LIC policy number and click the Proceed Button provided below to pay lic premium through paytm.

Step 5: Confirm Policy details

When you click Proceed, Paytm will fetch your premium-related information from LIC servers. On receiving your policy details they will be shown to you on screen. You will be able to see your Policy Number, Name of Policy Holder, Premium due date, Number of the installment due, and amount to be paid (including tax). Please review all your policy details, if found right, click on Proceed to make payment.

Next, you will see a deal page provided by Paytm and its affiliates. You can choose any deal at your will or can proceed without choosing any deals or offers.

Step 6: Make Payment

The next page will be related to payment. If you have sufficient balance in your Paytm wallet, simply pay your LIC premium using the wallet balance else pay through other available options like a credit card, debit card, internet banking, or ATM card.

After successful payment, you will see a confirmation page, showing a success message, the amount you paid, Paytm Oder Id, and your LIC policy number for which you have paid the premium. If you want you can rate the experience of your payment on this page also.

Step 7: Download Receipt

You will receive a message on your mobile number and email Id associated with Paytm. LIC premium will take 2-3 days to reflect your payment.

Conclusion

• It’s a very useful and important facility by Paytm for policyholders to pay LIC premiums.
• You only need your policy number to pay your premium
• You can pay your LIC premium or any other insurer’s premium at any time and at any place.
• Very quick and simple procedure.
• Many options for payment.
• You can only pay your recent due.

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