How to pay LIC Premium on Paytm?

How to pay LIC Premium on Paytm? How to pay Life and General Insurance Premium on Paytm? In your busy schedule of life, there is a possibility to forget paying the Life or General Insurance Premium. To avoid this recently Paytm launched Insurance premium payment facility.

Currently Paytm offers the Insurance premium payment option for below companies.

  1. LIC
  2. Birla Sunlife Insurance
  3. Aegon Life
  4. Bharti Axa Life
  5. Edelweiss Tokio Life
  6. Exide Life
  7. Future Genereli Life
  8. Future Genereli General Insurance
  9. HDFC Ergo General
  10. ICICI Pru Life
  11. IDBI Federal Life
  12. IndiaFirst Life
  13. Max Life
  14. Reliance General Insurance
  15. Reliance Nippon Life
  16. Religare Health
  17. Royal Sundaram General Insurance
  18. SBI General Insurance
  19. SBI Life Insurance
  20. Shri Ram Life Insurance
  21. Tata AIA Life
  22. Tata AIG General Life Insurance

How to pay LIC Premium on Paytm?

Now let us discuss on how to pay LIC premium on Paytm. Before proceeding further, first, you must have installed the Paytm App from Google Play store.

Steps to pay LIC Premium on Paytm are as below.

Step 1- Open Paytm App. Then select the icon with the name of Insurance. The screen looks like below.

Pay Life and General Insurance Premium on Paytm

Step 2- Select the Insurer of your choice. Here, I am selecting LIC.

pay LIC Premium on Paytm

Step 3- Now you have to enter the policy number as below.

Pay LIC Premium on Paytm enter policy

Step 4- Automatically the policy details like Policy Number, Name of the Insured, due dates, number of installments pending and the premium amount will reflect. The premium is prefilled. You just have to cross check.

Cross check these details with your policy details. Once everything is fine, then click on proceed for payment.

Do note that your insurance company will take two working days to the reflect amount paid in your account, the premium payment date will be effective immediately.

Step 5- This will leads to the Paytm deals page where you can choose multiple free and paid deals. Here, once you select the deals, then tap on “Proceed to pay”. Otherwise, you can skip this deal pay and directly go for premium payment option.

LIC Premium Payment Paytm deals

Step 6-Now you have to pay the payment using the options like your Paytm Wallet, Debit/Credit Cards or Internet Banking.

LIC Premium Payment Paytm options

Step 7- On successful payment, you will see the payment details on order summary like order number and payment details etc.

LIC Premium Payment Paytm Receipt

Once you pay the premium Paytm will send you messages to your registered email and phone number for your reference.

Hope this information is helpful for all Paytm users and now by sitting in the home you can pay LIC Premium on Paytm.

30 Comments

  1. Dear All, I am using paytm app in mobile but when i am checking my wallet balance so where deducted of Rs.55/- without pay any type of amount kindly expain me as per earlier regards neeraj gupta mobile no. 9702718917

    Reply
    • Dear Neeraj,
      I am not sure about the charges. Better you be in touch with Paytm.

      Reply
  2. Do payTm also take any convince charges or just we have to pay the premium Rs only. plz answer me as I had to pay 20K premium this month end..I am First time paytm premium payer.

    Reply
  3. is there any limit for loading to paytm wallet

    Reply
  4. Hi Basavaraj,

    I am trying to pay LIC bill on paytym unable to fetch my details on PAYTYm its shows error msg as There seems to be some issue with the operator. Please try again later.
    Tried after many times i have contacted paytaym care also they are checking with issue .
    I am able to fetch details in lic portal.

    Regards,
    Vaibhav

    Reply
    • Dear Vaibhav,
      Check whether the policy is in active mode or not. It has lapsed, then you can’t make the payment online.

      Reply
      • Policy is in active mode.I can see in force state in LIC login page also.

        Reply
          • Hi Basavaraj ,

            If Policy amount is greater than 1 lakhs then it will not fetch i think.Paytm limit is upto 1 lakh i think?

            Reply
  5. Do we get e-receipt from LIC for premiums paid through Paytm ? Please reply. Because I paid for a friend thru my paytm but he will need the e-receipt for his taxation purpose.

    Reply
    • Tried scratching brain in paytm app. Got it. Click on “my orders” then click on the lic transaction done by you. Check down , Click on “Download Invoice”. U get the e-receipt. However all details are mentioned except the policy holders name.

      Reply
    • u can get the same, got to my order, payment transaction and then receipt, take print out for the same.

      Reply
    • Hi Viral , Have you got the tax exemption after referring the receipt from Paytm. The receipt format at paytm is different what usually is given by LIC portal

      Reply
  6. If payment by credit card, any type of charges or not

    Reply
  7. Some Credit card like Amex won’t give Reward points for insurance payment, It is good to load money into wallet and pay to get RPs in your Credit card.

    Reply
  8. Sir
    I am not able to pay my LIC insurance premium through Paytm.whether there is any problem technically??kindly guide

    Reply
    • No there shud not be any problem. Just go thru the above process shown with images. Pls mention what problem r u facing. What message do u get ? And what is your mode of payment.

      Reply
  9. Dear Basavaraj

    Thanks for such an informative article.

    Earlier I had requested you that you should desist from odd advertisements in between the article which makes very
    difficult to copy and takeout printouts. Such ads can be posted at some other places instead in middle of the article.

    There are ads which hinders your readers to take a printout and spoiling the essence of the article.

    Moreover, for a blogger of your status, such ads are not necessary but still you need them to be advertised then that it can be published towards the end of the article or elsewhere.

    Please take my suggestion in right spirit and think over it?

    Thanks.

    RK Bhuwalka

    Reply
    • Bhuwalka-Thanks for your inputs. We will consider your suggestion soon as we are in revamp of site at the earliest.

      Reply
  10. Are there any hidden charges, if we pay through credit card?

    Reply

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