Can I Pay LIC Premium Through Credit Card?

Yes, LIC premiums can be paid using a credit card, but rewards and charges depend on the card and payment mode.

It works. Just not always the way people expect.

How LIC premium payment by credit card works

Life insurance premiums can be paid online and offline.

For Life Insurance Corporation of India, credit cards are accepted through:

• LIC official website
• LIC customer portal
• Authorised payment gateways
• Some third-party bill payment apps

The payment is routed through a gateway, not directly swiped at LIC.

Types of LIC premiums that usually allow credit cards

Credit cards are commonly accepted for:

• Regular premium payments
• Annual or half-yearly premiums
• Revival payments (in many cases)

Availability may vary based on policy type and payment channel.

Are there extra charges for paying LIC premium by credit card?

Sometimes, yes.

Possible costs include:

• Convenience fee charged by the gateway
• GST on the convenience fee

LIC itself does not usually charge extra.

The gateway might.

Some portals show zero charges. Others don’t.

Always check before confirming.

Do LIC premium payments earn credit card rewards?

Often, no.

Many credit cards exclude insurance payments from:

• Reward points
• Cashback
• Milestone benefits

Some cards may still give rewards, but that’s the exception.

Card terms decide this.

Does paying LIC premium by credit card affect the bill?

Yes.

The premium amount:

• Becomes part of the credit card bill
• Follows the normal billing cycle
• Attracts interest if not paid in full

Insurance payment does not change card rules.

Late payment still costs money.

Why people use credit cards for LIC premiums

Despite limited rewards, credit cards are used because:

• Due date flexibility
• Short-term cash flow support
• Missed premium deadlines

Convenience matters when timing is tight.

When using a credit card makes sense

Using a credit card for LIC premium makes sense if:

• Full bill can be paid on time
• Convenience fee is low or zero
• Payment deadline is close

Without full repayment, costs rise.

When it’s better to avoid

Avoid credit card payment if:

• Rewards are the main goal
• Convenience fees are high
• Credit limit is tight

Debit or net banking is usually simpler.

FAQ

Can LIC premium be paid online using credit card?

Yes, through LIC website and authorised gateways.

Are rewards given on LIC premium payments?

Usually no, depending on the card.

Is there interest on LIC premium payment?

Only if the credit card bill is not paid in full.

In short

LIC premium can be paid using a credit card.

Rewards are often excluded.

Full repayment is important.

Still deciding which payment method works best for an upcoming LIC premium?