Life Insurance is a contract between two parties where a person insures his/her life for money for a certain period by paying the insurer a certain fixed amount of money every month, quarterly, half yearly or annually. In return, on the event of his death or on the date of maturity of the policy, whichever is earlier, the person is paid an amount calculated with interest and bonus using LIC Online Payment website. Insurance is something that is advised by all financial planners as a means of safeguarding the family’s future in case of death of a person. In such cases, the nominee of the person gets the insured amount.
The company is reputed to pay insurance on time. It has a number of policies made to suit every kind of pocket and designed such that they meet the needs of every individual. The company has Insurance Plans, Pension Plans, Unit Plans, Special Plans, and Group Scheme. The mode of payment of premium for each of these plans is common and very easy to follow. Payment can be made through cash or by alternative means like online payment, credit card, and debit card.
LIC Online Payment of premium
LIC of India Online Payment of premium is one of the most preferred modes of payment. Premium is the amount agreed by the policyholder to pay the company regularly for insurance of his life. To facilitate LIC of India Online payment of premium, there is a LIC 24×7 customer care center, which is there to help the individual at each and every step. There is an Insurance Advisor who is available for chat on the website to guide the individual about the Insurance Plans available. Each insurance plan has the option of LIC online payment. If you are a LIC Merchant then you can also use this online payment website.
- Website: www.licindia.in
- Download Form: https://www.licindia.in/Bottom-Links/Download-Forms
- Online Payment: https://www.licindia.in/Home/Pay-Premium-Online
LIC has Pension Plans for those who wish to receive after retirement benefits each month.
- The Plan is Unit Linked providing a minimum guarantee on gross premiums paid.
- It does not have life cover.
- LIC online payment of a premium of Pension plans can be made monthly, yearly, half-yearly or quarterly.
- Monthly payment of premium is only through ECS.
- The minimum age for entry is 18 years and maximum vesting age is 85 years.
- Sum assured in Nil and the minimum deferment is for 10 years.
Also Read: LIC Policy Status
LIC Online premium has been adopted by LIC to make payment of premiums easy. It takes just a few clicks for LIC Online payment of premium. LIC payment can be done in the comfort of the home or in the office.
LIC online Pay can also be made using Net Banking accounts. The company has tied up with various banks all over the country to facilitate LIC online payment. The facility for LIC online payment is available for all non -ULIP policies. All it requires is an enrollment of the policy on their website.