PhonePe is a digital payments application in India that lets you send and receive money, recharge your mobile, DTH, and data card, pay at stores, make utility payments, buy gold and make investments.
It is the fastest UPI payment app in India that has crossed 10 million downloads, and consistently ranks among the top money applications on Apple’s App Store and Google Play. In 2017, it surpassed BHIM to emerge as the principal driver of UPI transactions.
How to pay LIC premiums on PhonePe?
If you are a LIC customer looking to pay your premium online, you can do so through PhonePe. It is a popular mobile payment application in India that lets users send and receive money and recharge their mobile, data cards, DTH, and other essential services.
The process of paying LIC premiums through PhonePe is simple and fast. All you need is the policy number and an email ID.
You can also pay your LIC premium using the LIC website, which is a bit more complex. Unlike PhonePe, you have to enter more details on the LIC website.
You can also use the LIC e-services portal to download your LIC premium payment statements. These statements can be used to track your LIC policy’s details, such as the date of issue, sum assured, etc. They can also be printed out if needed.
Steps to pay LIC premiums on PhonePe
There are several ways to pay LIC premiums; one of the easiest and fastest is through PhonePe. With PhonePe, you can make payments online to multiple insurance companies in a few simple clicks.
To start, download the app and register for an account. This will require you to provide personal information and connect your bank account or credit/debit card.
After signing up, you can go to the LIC portal and log in with your user ID and password. From here, you can view your policy details, make changes, and check if you’ve paid your LIC premium on time.
However, there are a few limitations that you need to be aware of when making your LIC payment through this method. These include that you cannot use outstation cheques, and the payment will take three working days to reflect in your LIC account.
LIC premium payment on PhonePe
LIC payment through PhonePe is one of the easiest and most convenient ways to pay your LIC premiums. The PhonePe app has a user-friendly interface and is available 24×7, 365 days a year.
The app allows users to send and receive money from any UPI-based account or debit and credit cards, and it also offers a Wallet feature. Its main aim is to make payments and transfers secure and easy.
To use this service, you must register on the LIC website by entering your policy number and date of birth. The website will also send you a welcome mail, and you can log in to your account using this ID.
Once logged in, you can choose the policies for which you want to pay. Then, click on ‘Check & Pay.’ Once the premium has been paid, the LIC portal will reflect it in your account. Moreover, you will get a receipt of your payment via email.
LIC premium payment through PhonePe
LIC is one of the largest insurers in the country, and it has several online services that make it easy to pay your premium. The company has partnered with apps like Google Pay, PhonePe, and Paytm to give customers an easier way to pay their premiums.
To use these services, visit the LIC website first and click on the ‘Pay Premium Online’ option. This will redirect you to a web page that offers two options – ‘Pay Direct (without login)’ and ‘Through Customer Portal.’
The ‘Pay Direct’ option is straightforward, allowing you to make a premium payment through a credit or debit card without registering as a new user. In addition, it’s a completely secure payment method, as the policy data is not shared with any third parties.
Once you have completed the process, you will receive a valid e-receipt instantly. This receipt will be sent to your email address and is also available on the LIC portal.