Published Oct 1, 2025 3 mins read

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Introduction

Established on September 1, 1956, the Life Insurance Corporation of India was created with the aim of making life insurance accessible to a broader audience, especially in rural areas. The goal was to provide adequate financial protection to all insurable individuals across the country at an affordable cost. As a well-known insurance provider in India, LIC offers a variety of comprehensive insurance products designed to safeguard individuals and their families.


 

Now, customers have the convenience of paying their LIC premiums through Bajaj Pay. The Bharat Bill Payment System (BBPS), introduced by the RBI, serves as an integrated online platform for various bill payments, ensuring a secure and convenient way to pay bills such as electricity and water.

Key benefits of paying LIC premium online on Bajaj Finserv

Following are the key benefits of paying LIC premium online on Bajaj Finserv:
 

  • Quick and hassle-free: 

    Bajaj Finserv provides a safe and secure payment platform on BBPS. Your LIC premium payment details are secure with the platform’s robust security measures.


  • Safe and secure:

    Bajaj Finserv provides a safe and secure payment platform. Your LIC premium payment details are secure with the platform’s robust security measures.


  • Multiple payment options:

    Bajaj Finserv offers multiple payment options, including debit card, credit card, net banking, e-wallet, and UPI. This allows you to choose the payment method that suits you best.


  • Instant confirmation:

    After making the payment, the platform immediately confirms the payment through an email and SMS.
     

Check the popular LIC plans including term plans, pension plans, and more

Following are some of the popular LIC plans, including term plans, pension plans, and more:
 

Plan typeSum assuredTerm
LIC Single Premium Endowment PlanRs. 50,00025 years
LIC New Endowment PlanRs. 1 lakh35 years
LIC New Jeevan AnandRs. 1 lakh35 years
LIC New Jeevan LakshyaRs. 1 lakh25 years
LIC New Money Back Plan - 25 YearsRs. 1 lakh25 years
LIC’s Jeevan TarunRs.75,00025 – (minus) Entry age of the policyholder
LIC's Anmol Jeevan IIRs. 24 lakhs25 years
LIC's e-TermRs. 25 lakhs (Rs. 50 lakhs for non-smokers)35 years
Jeevan Akshay-VIRs. 1 lakhN.A.
LIC’s Bhagya LakshmiRs.50,0002 years + premium paying term (PPT)


 

Fees and charges


A convenience fee of up to 2% will be charged depending on the transaction amount and payment mode (inclusive of applicable taxes). For more information on fees and charges, click here.


 

Note: For failed transactions, the total amount including charges except taxes are reversed.


 

Steps to make LIC premium payment online on the Bajaj Finserv app


 

You can make LIC premium payment online using the Bajaj Finserv app by following these steps:


 

  1. Download the Bajaj Finserv app from the Google Play Store or App Store and install it on your device
  2. Open the app, log in, or register if you are a new user
  3. Go to ‘BILLS AND RECHARGES’ and select ‘LIC/ INSURANCE’ under ‘FINANCIAL SERVICES AND TAXES’ section
  4. Choose ‘LIC’ as your issuer
  5. Enter your policy number and DOB and click on ‘FETCH YOUR BILL’
  6. Select a payment method from the list of available payment options such as credit cards, debit cards, e-wallet, UPI, and net banking
     
  7. After choosing your preferred payment mode, enter the requested payment details
  8. Check the details you entered and click on 'PAY NOW’


 

You will receive a notification from Bajaj Finserv after successful payment.

 

Steps to pay LIC premium on the Bajaj Finserv website


 

Here is how you can pay for your LIC premium on the Bajaj Finserv website:


 

  1. Visit the Bajaj Finserv website
  2. Go to the ‘BILLS AND RECHARGES’ under the ‘PAYMENTS’ section
  3. Under ‘FINANCIAL SERVICES AND TAXES,’ select ‘LIC/INSURANCE’
  4. Choose your biller from the drop-down
  5. Enter your loan number and click on ‘FETCH YOUR BILL’
  6. Select a payment method from the list of available payment options such as credit cards, debit cards, e-wallet, UPI, and net banking
  7. After choosing your preferred payment mode, enter the requested payment details
  8. Check the details you entered and click on 'PAY NOW’


 

You will receive a notification from Bajaj Finserv after successful payment.

Know more

Renew other life insurance premiums


Bajaj Finserv also allows you to renew insurance premiums for other insurers such as:


HDFC Life Insurance PaymentFuture Generali Life Insurance PaymentExide Life Insurance Payment
Bharti AXA Life Insurance PaymentAditya Birla Sun Life Insurance PaymentCanara HSBC OBC Life Insurance Payment
SBI Life Insurance Premium PaymentAegon Life Insurance PaymentBajaj Allianz General Insurance Payment

Frequently asked questions

What is LIC (Life Insurance Corporation of India)?

LIC, which stands for Life Insurance Corporation of India, began working as a company in September 1956. This happened after the Indian government passed a law called the Life Insurance of India Act in June 1956. LIC was created by combining 154 life insurance companies, 16 foreign companies, and 75 provident companies. Now, LIC is one of the biggest financial institutions in India, with assets worth more than 2,529,390 crores. The main office of LIC is in Mumbai, Maharashtra.

How do you check LIC policy status?

There are two main ways to check your LIC policy status:

Online: Visit LIC's website (https://licindia.in/) and log in to the customer portal using your registered ID and password. Once logged in, you can find the status of your policy under sections like "Policy Status" or "Policy Enquiry".

SMS: Send an SMS with "ASKLIC <policy number> STAT" to 56767877 from your mobile number registered with LIC. You'll receive an SMS response with your policy status details.

Can I pay my LIC Renewal premium through Bajaj Finserv?

Yes, you can pay your LIC renewal premium through Bajaj Finserv. They act as a payment facilitator using the Bharat Bill Payment System (BBPS). Here is how: 


  1. Visit the Bajaj Finserv website or download their app.
  2. Go to the ‘BILLS & RECHARGES’ section and select ‘LIC/INSURANCE’ under ‘FINANCIAL SERVICES AND TAXES’.
  3. Choose ‘LIC’ as your biller and enter your LIC policy number and date of birth.
  4. Click on ‘FETCH BILL’ to retrieve your premium amount.
  5. Select your preferred payment method from options like debit card, credit card, net banking, or UPI.
  6. Make the payment and keep the receipt for reference.

Is the LIC premium payments online facility available 24x7?

The LIC premium payment online facility is available 24x7, allowing policyholders to make payments at any time that is convenient for them, including weekends and holidays.

Does Bajaj Finserv provide recharge services apart from insurance premium payment?

Yes, Bajaj Finserv also provides other recharge services such as:


How to check LIC policy maturity amount?

The maturity amount of an LIC policy is the final sum received upon the policy’s maturity or as a death benefit if the policyholder passes away during the term.

In participating plans, the maturity value includes sum assured - the basic guaranteed amount and bonuses accrued during the policy term.
Any declared final addition bonus.    

Is LIC a private or government company?

Life Insurance Corporation of India (LIC) is a government-owned insurance company. It was established in 1956 as a statutory corporation by the Government of India through the Life Insurance Corporation Act, 1956.

How to download a LIC premium payment receipt online?

To download your LIC premium payment receipt online, log in to the Bajaj Finserv customer portal using your credentials. Navigate to the insurance section and select your LIC policy. You will find an option to view and download your payment receipts. Ensure you save a copy for your records.

How to check the LIC due payment?

To check your LIC due payment, access the Bajaj Finserv customer portal and log in with your credentials. Go to the insurance section and select your LIC policy. Here, you can view the due date and the amount payable for your next premium. This ensures you stay updated on your payment schedule and avoid any late fees.

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Disclaimer

*T&C Apply - Bajaj Finance Limited (‘BFL’) is a registered corporate agent of third party insurance products of Bajaj Allianz Life Insurance Company Limited, HDFC Life Insurance Company Limited, Life Insurance Corporation of India (LIC), Bajaj Allianz General Insurance Company Limited, SBI General Insurance Company Limited, ACKO General Insurance Company Limited, HDFC ERGO General Insurance Company, TATA AIG General Insurance Company Limited, ICICI Lombard General Insurance Company Limited, New India Assurance Limited, Chola MS General Insurance Company Limited, Zurich Kotak General Insurance Company Limited, Star Health & Allied Insurance Company Limited, Care Health Insurance Company Limited, Niva Bupa Health Insurance Company Limited, Aditya Birla Health Insurance Company Limited and Manipal Cigna Health Insurance Company Limited under the IRDAI composite registration number CA0101. Please note that, BFL does not underwrite the risk or act as an insurer. Your purchase of an insurance product is purely on a voluntary basis after your exercise of an independent due diligence on the suitability, viability of any insurance product. Any decision to purchase insurance product is solely at your own risk and responsibility and BFL shall not be liable for any loss or damage that any person may suffer, whether directly or indirectly. For more details on risk factors, terms and conditions and exclusions please read the product sales brochure & policy wordings carefully before concluding a sale. Tax benefits applicable if any, will be as per the prevailing tax laws. Tax laws are subject to change. BFL does NOT provide Tax/Investment advisory services. Please consult your advisors before proceeding to purchase an insurance product. Visitors are hereby informed that their information submitted on the website may also be shared with insurers. BFL is also distributor of other third-party products from Assistance service providers such as CPP Assistance Services Private Limited, Bajaj Finserv Health Limited. etc. All product information such as premium, benefits, exclusions, value added services etc. are authentic and solely based on the information received from the respective Insurance company or the respective Assistance provider company.

Note - While we have made all the efforts and taken utmost care in gathering precise information about the products, features, benefits etc. However, BFL cannot be held liable for any direct or indirect damage/loss. We request our customers to conduct their research about these products and refer to the respective products sales brochure and policy/membership wordings before concluding sales.

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