LIC Bill

BBPS, bharat bill payment service

LIC stands for Life Insurance Corporation of India. It is an insurance company with a huge area, it is the largest insurance company in the country. Which offer different types of life insurance policies, which provide financial security to your family in the event of your death. LIC is a government owned company and it came into existence in 1956. They have a large number of policyholders and manage large amounts of money for their clients.

LIC premium refers to the amount you pay to maintain your Life Insurance Corporation of India (LIC) policy. The exact amount depends on several factors such as the type of policy, the sum assured (death benefit amount), and your age. LIC offers flexible payment options like single pay, regular pay (monthly, quarterly, annually) or limited pay (paid for specified years). You can find your specific premium amount on the policy documents or by logging into the LIC customer portal. You can also easily pay LIC premium by becoming a merchant of Digital India Portal and get a good commission.

Benefits of LIC Premium Payment

  • Pay Anytime, Anywhere: You can make payments 24/7 from your phone or computer, no matter where you are.
  • Skip the Queues: No more waiting in line at an LIC branch to pay your premium.
  • Instant Updates: Your LIC policy gets updated right away, so you know your coverage is active.
  • Free and Convenient: There are no extra charges for using this service, and it saves you time and effort.

Benefits for Merchant

  • Easy Access: Digital India Portal agents can easily pay premiums electronically, without the need for policyholders to visit the LIC branch office. This increases customer satisfaction and can potentially lead to more business.
  • Efficiency: Online systems can streamline the premium collection process, saving merchants time and paperwork. Transactions are probably recorded electronically, making record keeping easier.
  • Accuracy: Online payments can help reduce errors compared to manual cash collection.
  • Faster Settlement: Traders can receive their commission on premiums collected more quickly through the electronic system.
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