What Are The Pre-Requisites For Making Online Premium Payment

Very minimal. Very simple too. You just keep your Policy Number handy with you & get hold of a computer which has got internet connection. If you do not own one at home, no problem. 

You can always go to your friendly neighbourhood Cyber Café & make the premium payment. Some of the people use the computer given to them by their employer organization, and do this transaction, when they are absolutely free for about 5 – 10 Minutes. In fact that is all the time it takes to make the payment. It is that quick and that simple. The How’s & Wherabouts are provided in complete details below.

How to Make LIC Online Premium Payment

As already mentioned you have your policy number handy with you. Now open the Internet Browser installed in the computer and type http://www.licindia.in  That is the start. It is as good as you have entered your own branch of the vast LIC Of India’s network of branches.

Now, go to New Registration Radio Button (A Title Or A Description With Raised Look) and start the process of Registration. You have to fill in your policy number first. Then comes all other details like your Name, Age, Address, Sex etc & you fill all of them. Once you complete this exercise, the Virtual Office i.e the above mentioned website will ask you to give yourself a User Name & Password. This is a common feature for all Online Transactions whether it is your LIC premium Payment or your Car Insurance Payment, or an Online Purchase of any particular goods or commodity. The User Name & Password is the unique way of identifying you as the legitimate holder of the Policy Number that you had entered in the first field.

This done, you are ready for your Online Premium Payment for the full tenure of policy that you own. From now onwards you do not have to enter any further details, or the details you provided as above mentioned. You just have to go to http://www.licindia.in and click the Large Radio Button (What is Radio Button, already explained) which says LOGIN. Just enter your user name & password and there it is, you have entered into the section which contains every single detail about your policy.

In this page on the left hand side there are many options given, and one of them is Making Premium Payment. Click this button and it will show you what is the amount of premium to be paid. The same page has options for making online payment from any of your existing bank account. Just choose your bank’s name, and the existing page will transition to that of your chosen bank. Here you enter your Bank’s Online Account Username / UserID & Password. Now the page will show you that it is going to make a payment to LIC of India & the amount. If you find it correct, give it the confirmation by clicking the CONFIRM Button. Viola!. Your Online Premium Payment to LIC is Over. No more long Queues. No more haggling for change with the cashier.

This done, the bank’s page will debit the amount from your account & credit it to your Policy as the Due Premium. During the process without your knowledge, in the back ground LIC’s, The Payment Gateways (Will soon be explained in detail, in our Technology Section), & your bank’s server communicate with each other, complete the transaction, and a receipt is generated by the LIC’s server. All this without you seeing it happening, and that too in a matter of seconds.

What you get to see at this stage is the receipt of amount & details of the transaction completed or Online Premium Payment just made by you.

Don’t log out, close the computer and walk off. There is an extremely important action you are still required to do. If you carefully see the entire page which showed you the Online Reciept, you will find a small button saying “Print This Page”. Please ensure that you either take a hard copy print of the receipt through a printer or if you have Acrobat Program or Microsoft’s One Note Programme, you can select them from the printers menu & Print it in either of them & Save It With a rememberable name.  You will need it to claim rebates when you file your annual income tax returns.

Isnt life a bit more peaceful, given such new methods of conducting most of our bill payments.

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