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Recharge & Utility

LIC Premium Payment

Premium payments made at the counter against a policy number, with the due amount fetched from the insurer rather than stated by the customer. It matters more than the ticket size suggests: a lapsed policy is expensive to revive, and the customers most likely to miss a due date are the ones paying in cash.

What you get

  • Policy looked up by policy number, with the holder name returned for confirmation
  • Due premium and due date fetched from the insurer
  • Late fee, where the insurer applies one, included in the fetched amount
  • Receipt carries the insurer reference against the policy
  • Customer alerted by SMS on confirmation
  • Commission credited per successful payment

FAQ

About lic premium payment

Can a premium be paid after the due date has passed?

Within the grace period the insurer allows, yes, and the fetched amount includes any late fee the insurer applies. Once a policy has actually lapsed it needs a revival process with the insurer, which is not something a counter payment can do.