Wondering how to pay lic policy premium online through SBI net banking or SBI credit card? Well, SBI net banking is one of the easiest way if you have SBI savings account and net banking access for the same.
LIC of India is one of the largest insurance company in India and they are providing various ways to pay premium online or offline. You can say there are more than 10 ways to pay lic premium online. One of the popular way is through Net banking process which is similar for all leading banks in India like SBI, HDFC Bank, ICICI Bank, Bandhan Bank etc.
In this article, I will try to share couple of ways you can use your SBI savings account money to pay your lic policy premium amount within due date by avoiding unnecessary penalties of late payment.
Pay LIC Policy premium online Using State Bank Savings Account
You can pay lic policy premium either by registering to lic of India website or without registering to LIC official website.
Pay lic premium online through sbi net banking with LIC registration
In this case, you have to login to your LIC of India account with the userid and password you have created.
After login to the dashboard, look for policy information area and find out how much premium is due.
There you will find option to pay the premium from there itself. On click of pay now, you will be redirected to a page where you can select various ways to pay LIC policy premium like net banking or credit card etc.
Here choose SBI net banking option and you will be redirected to SBI Online banking website where you have to provide the SBI net banking ID & Password to login and then pay the policy premium. You may get OTP to verify your transaction.
Pay lic policy premium online via SBI Net-banking without registration
Now, you don’t want to register for LIC online website then also you can pay your through SBI net banking account easily.
First of all you have to login to your SBI net banking account through Online SBI portal.
Next you have to visit to Add Biller section where you have to add your lic policy as a biller in your account. Here is the screen shot you can refer after login to your SBI net banking account. Choose the Biller Name as “Life Insurance Corporation of India” and then provide various policy details mentioned below to register your policy with SBI account.
Nick Name *
Policy Number *
Installment Premium *
Email ID *
Receipt Type *
Mobile Number *
Configure auto pay settings: Auto Pay * Yes / No
Auto Pay Limit
Here, you can select AUTO PAY option if you want to pay your LIC policy premium automatically, then you can opt for this option. The amount will be deducted from your SBI savings account as per the policy premium term.
After successful addition, next you go to your Payment/Transfer section and then choose this newly added biller for payment or premium amount. Generally it will show you the due premium payment. To know your LIC policy premium details, you can refer to your policy or previous payment receipts.
So, how do you prefer to pay your LIC policy premium online? Do you have SBI net banking access? In that case you can easily use your SBI online banking account and pay your lic policy premium without worrying. Write a simple comment below and share how you are paying your policy premium online and how is your experience so far. Thanks for reading and sharing the article.