Utility: Are you tired of going to the bank and office to deposit LIC premiums? Know how you can pay sitting at home!
Life Insurance Corporation of India (LIC) policies continue to be a preferred investment option for many individuals. But paying the premium for these insurances can take some time and requires visiting a bank or LIC office. With the increasing use of the Unified Payments Interface (UPI) in India, LIC policyholders can now conveniently pay their premiums without visiting a bank or LIC office.
UPI is a payment system that allows users of Paytm, PhonePe, Google Pay, and other payment apps to quickly transfer money to bank accounts. LIC policyholders can now easily pay their premiums using these applications without visiting the bank or LIC office.
For example, you can follow these easy steps to pay your LIC subscription through PhonePe:
1. Open the PhonePe app.
2. Select the option to pay your insurance premium.
3. Select the LIC premium payment option.
4. Enter your LIC number and email address, then hit the Confirm button.
5. Select your preferred payment method and enter your credit or debit card information.
6. Your LIC premium will be credited after you enter the OTP issued to you.
You can save time and the inconvenience of standing in long queues by paying your LIC payment using UPI. UPI makes future planning convenient and simple and ensures that your LIC policy remains active.