Now a days you don’t need to go to the insurer branch and stand in queue to deposit your life insurance premium. You can pay the premium online by using online gateways (This functionality is available only to registered customers, who have enrolled their policies online on the website of the insurer), available on most of the insurer websites. We did research and found out the insurer web links (where you can pay online premium) in alphabetic order for you –
- Aegon Religare Life Insurance
- Aviva India Life Insurance
- Bajaj Allianz Life Insurance
- Birla Sun Life Insurance
- Bhrati Axa Life Insurance
- Canara HSBC Life Insurance
- DLF Pramerica Life Insurance
- Future Generali Life Insurance
- HDFC Life Insurance
- ICICI Pru Life Insurance
- IDBI Federal Life Insurance
- ING Life Insurance
- Kotak Life Insurance
- Life Insurance Corporation of India
- Max New York Life Insurance
- Met Life Insurance
- Reliance Life Insurance
- SBI Life Insurance
- TATA-AIG Life Insurance
Out of the total 23 insurer currently operating in India, only 4 does not provide online premium payment facility.
- India First Life Insurance
- Sahara Life Insurance
- Shriram Life Insurance
- Star Union Daichi Life Insurance
Benefits of Paying premium online
- It provides for real-time payment of renewal premium-dues through the portal.
- User can view the premium receipt anytime. It is one advantage if we are making the payment online. We can keep the receipts safely.
- You have a choice to select the policies for which you want to pay premium.
- At the bank site you will need to login with your net banking username/password. On successful login, the total amount to be paid by you towards insurer will be displayed.
- There is no charge for you to avail this service.
- On successful transaction, a digitally signed e-receipt will be generated and e-mailed to you. In case of an unsuccessful transaction you will be informed and the reason thereof.
- It is also a secure arrangement, as the policy data is not shared between insurer and Banks over net as only the amount to be paid is encrypted and transported. The login id at both the sites (Insurer and Bank) is known only to you.
Frequently Asked Questions
Q1. Does the online payment receipt would be sufficient for tax saving purpose in office?
Ans. Yes, Employers and Income Tax department accept digitally signed online receipt.
Q2. Will I be able to print receipt in word or PDF format?
Ans. Normally the receipt is generated in PDF format.
Q3. Does online premium payment works on weekends (Saturdays/Sunday)?
Ans. Yes, this facility is 24/7.
Q4. I have forgotten my User ID, What to do know?
Ans. Try Forgot User ID/ Password option on the website. You will receive new password on your registered email ID.