How can I get LIC premium amount?

You can do so by either visiting the LIC website or by downloading LIC India's app. To pay premiums through the insurer's website, visit and click on 'Pay Premium online' from the 'Online Services portal'. Here you will get two options: a) Pay Direct (Without login) and b) Through customer portal.

Considering this, how can I know my LIC premium amount?

You can avail all the LIC policy details simply by sending an SMS to 56767877. All the policies in life are dependent on advance annual premium payments. But instalment premiums can be half-yearly, quarterly, or monthly. The sum accumulated out of bonus as of today.

Additionally, how can I check my LIC premium without tax? All you need to do is select the plan you are planning to avail and enter details such as your age, policy term and sum assured and click on the 'calculate tab'. You will be able to figure out the total premium.

Similarly, you may ask, can I prepay LIC premium?

You can pay advance premium of policy falling due within same financial year, ie you can deposit premium of 31/03/2018 on 01/04/2017 (for financial year 2017–2018). For premium falling due in next financial year, you can deposit maximum of 3 months in advance of premium due date.

How can I get LIC premium receipt?

Guide To Download LIC Premium Payment Receipt

Log on to LIC website.
Click on 'customer portal' tab under 'online services.
Click on 'Registered User 'tab under 'LIC's e-Services'
Login with your user ID, password and date of birth.

Related Question Answers

How much money will I get if I surrender my LIC policy?

If you close after 2/3 years, you will be ensured 30% of premiums paid. If you close between 4 and 7 years, you will get 50% of premiums paid. If you surrender in the last two policy years, you can get up to 90% of premiums.

How can I get my lic lapsed money?

The lapsed policy can be revived within a period of two years from the date of lapsation by paying arrears of premium with interest and fulfillment of medical requirements, if any. The percentage of lapsed policies of LIC is around 4% on an average during the last three years.

Which LIC plan is best?

Best LIC Policy - Plans Details

LIC Policies	Plan Type	Policy Term
LIC e-term Insurance	Pure Term Plan	10 – 35 years
LIC New Children's Money Back Plan	Traditional Money Back Child Plan	25 - entry age
LIC JeevanAnand	Participating Traditional Endowment Plan	15 - 35 years
LIC Jeevan Saral	Endowment Plan	10 – 35 years

What is maturity amount in LIC?

Maturity value is normally the basic sum assured ( Insured amount) and the accrued bonus added every year. In money back type of policies, the Survival Benefit is paid every 4th or 5th year. Survival Benefit is a prefixed percentage of the Sum Assured.

Why LIC premium is high?

Life insurers are regulated by the IRDA and have strict capital norms. Claim settlement ratio is definitely helping LIC price its premiums much higher than private sector insurers. However the difference in premium is too large to be ignored and its not as if private insurers do not settle claims at all.

Can I withdraw my LIC policy before maturity?

It is the option to exit from life insurance product before maturity wherein policyholder will get the amount which is called as Surrender Value. A regular premium policy will be eligible for surrendering after the policyholder has paid the premiums continuously for 3 years.

How much tax do I pay on LIC premium?

The applicable tax rate on annuity plans would be a marginal 1.8% instead of the current 1.5%. For single premium policy or endowment insurance plan, GST for first year premium amount has been increased from 3.75% to 4.5%. Subsequently, for renewal premiums, it will be halved of the first year rate, which is 2.25%.

How early can I pay LIC premium?

LIC raises the premium notices 30 days before the premium becomes due and provides a grace period of 30 days for the policyholder from the due date to make the premium payments. Accordingly, after you receive your first electronic premium notice, you will get approximately 60 days to make payment.

What happens if we miss LIC premium?

Missed LIC Premium Payment, pay within 30 days, without any interest. If you have missed the LIC premium within the due date there is still time for you to make the payments without payment of interest on the premium. This period is called the Grace Period. (with the exception of some plans).

How can I know my LIC premium date?

How can I change my LIC premium payment online?

Is it possible to change an LIC policy's premium-paying month? - Quora. Yes, it is possible to get your mode of premium payment changed through an endorsement. You need to contact your agent /office. There are four modes - yearly, half-yearly, quarterly, monthly.

How can I check my LIC policy in Favour?

The cheque/DD should be drawn favoring "LIC of India, Pol. No. xxxxxxxxx" on the face of the instrument. If a single cheque is used for payment of multiple policies, one policy number is to be written on the face of the cheque and others may be written on the back of the cheque.

Can I pay LIC premium through Paytm?

LIC policy premium can be paid with Paytm either by Paytm app (android & apple) or Paytm website. Once you open Paytm app or website, you will see various bill payment options to choose from. Select the Insurance icon and then select LIC from the option.

Can I pay LIC premium for my wife?

Under Section 80C of the Income Tax Act, any amount paid by a policyholder towards life insurance premium for self, spouse or his/her children can be claimed as deduction from taxable income. If a person is paying premium for more than one insurance policy, all the premiums can be included.

How can I get LIC premium receipt from Paytm?

To download LIC premium receipt on Paytm App, policyholder is requested to visit “My order” section on Paytm app, select the order and click on “Download Receipt”.