How to pay LIC Premium Online using Paytm?

Paytm is one of the easiest ways to pay LIC premium. It is an additional method of premium payment offered by Life Insurance Corporation. Paytm is a mobile wallet that is used widely for money transfer and DTH recharge or bill payment.  Paytm now provide facility to pay Insurance premium online. It supports all insurance companies including LIC, Bharti Axa, Birla Sun Life, SBI Life, Tata AIA, ICICI Prudential, Max life etc.

Now you need not waste your time for visiting LIC center and standing in a queue for paying Insurance policy premium. You just need Paytm App and Internet connection. You can easily pay LIC premium online using Paytm. A step by step method of using Paytm for making LIC premium payment is given below.

How to pay LIC Premium Online using Paytm?

To pay LIC premium online using Paytm follow the steps given below.

Step 1: The first step is to download and Install Paytm App on your mobile. Once it is installed open Paytm Application or just visit Paytm.com

Paytm LIC

Step 2: On Paytm application, click on more button.

Go to Recharge and Bill payment Section.Tap on “Insurance

Paytm Insurance

Step 3: You can see all insurance companies list, select LIC of India.

Paytm LIC Premium

Step 4: And now enter your Policy number and proceed further

Step 5: On the next screen, your policy details like policy number, name of the policyholder, premium due date, number of the installment due and premium amount will reflect. Tap on Proceed to Pay. This data is reflected from LIC database.

Step 6: On the next screen, you can see the promo code page. Skip this option and proceed further to pay.

Step 7: Finally make premium payment using Net Banking, Debit card, credit card, ATM card or directly pay through paytm wallet.

On the successful payment, Paytm will send you a message on your registered email ID and mobile number for the reference.

This is one way of making premium payment in LIC. In addition to above method, you can also pay LIC premium using other known payment channels such as LIC Pay Direct Mobile App, Online LIC Website, premium points, cash counter and at designated ATM or banks.

If you have any query about paying LIC premium via Paytm or any other alternate channel feel free to post it in the comment section.

Article by Raviraj

Raviraj is the man behind moneyalpha.com. He is graduate in finance, engaged in blogging since 6 years. He is not affiliated with any financial product, service provider, agent or broker. The purpose of this blog is to spread financial awareness and help people in achieving excellence for money. Please note that the views expressed on this Blog/Comments are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment advice or legal opinion.

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