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.
- LIC
- Birla Sunlife Insurance
- Aegon Life
- Bharti Axa Life
- Edelweiss Tokio Life
- Exide Life
- Future Genereli Life
- Future Genereli General Insurance
- HDFC Ergo General
- ICICI Pru Life
- IDBI Federal Life
- IndiaFirst Life
- Max Life
- Reliance General Insurance
- Reliance Nippon Life
- Religare Health
- Royal Sundaram General Insurance
- SBI General Insurance
- SBI Life Insurance
- Shri Ram Life Insurance
- Tata AIA Life
- 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.
Step 2- Select the Insurer of your choice. Here, I am selecting LIC.
Step 3- Now you have to enter the policy number as below.
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.
Step 6-Now you have to pay the payment using the options like your Paytm Wallet, Debit/Credit Cards or Internet Banking.
Step 7- On successful payment, you will see the payment details on order summary like order number and payment details etc.
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.
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NEERAJ GUPTA
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
Basavaraj Tonagatti
Dear Neeraj,
I am not sure about the charges. Better you be in touch with Paytm.
NIRAV
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.
Basavaraj Tonagatti
Dear Nirav,
They will not charge extra.
reddy
is there any limit for loading to paytm wallet
Basavaraj Tonagatti
Dear Reddy,
As per my knowledge, NO.
Sanjay
You are absolutely wrong
Basavaraj Tonagatti
Dear Sanjay,
Oh is it?
Vaibhav Shetter
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
Basavaraj Tonagatti
Dear Vaibhav,
Check whether the policy is in active mode or not. It has lapsed, then you can’t make the payment online.
vaibhav shetter
Policy is in active mode.I can see in force state in LIC login page also.
Basavaraj Tonagatti
Dear Vaibhav,
Then it is an issue with Paytm.
Vaibhav
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?
Basavaraj Tonagatti
Dear Vaibhav,
I am not sure about it.
VIRAL DOSHI
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.
VIRAL DOSHI
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.
Basavaraj Tonagatti
Dear Viral,
LIC will issue the receipt to you.
Mr. Saini
u can get the same, got to my order, payment transaction and then receipt, take print out for the same.
Vaibhav
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
GHANSHYAM DABHI
If payment by credit card, any type of charges or not
Basavaraj Tonagatti
Dear Ghanshyam,
There will not be any charges from LIC.
Arul
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.
Basavaraj Tonagatti
Dear Arul,
Thanks for your inputs.
Komal
Sir
I am not able to pay my LIC insurance premium through Paytm.whether there is any problem technically??kindly guide
Basavaraj Tonagatti
Komal-May be. Better to try after some time.
VIRAL DOSHI
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.
RK BHUWALKA
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
Basavaraj Tonagatti
Bhuwalka-Thanks for your inputs. We will consider your suggestion soon as we are in revamp of site at the earliest.
Dhanasekar R
Are there any hidden charges, if we pay through credit card?
Basavaraj Tonagatti
Dhanasekar-No such hidden charges from Paytm side.