LIC Premium Payment through SMS

LIC Premium Payment through SMS

Corporation Bank has been one of the pioneers in leveraging technology for improving customer service and offering various services such as ATM facility, Any Branch Banking facility, SMS Banking, Mobile Banking facility, etc. The Bank has recently introduced MobilePay facility wherein registered customers of the facility can use their mobile to make payments to various merchant establishments instead of making payments through card/cash. This facility has been introduced in association with M/s PayMate India Ltd.

We are now pleased to inform that the Bank has extended the facility to enable payment of LIC Premium through SMS . For availing the facility, you should have registered for Mobile Pay (PayMate) facility of the Bank. You need not register the LIC policies for which you propose to make payment through this facility.

The following will be the procedure for making the payment through SMS

  • Send a SMS ‘LIC ’ to 5667711 for which you intend to make premium payment.
  • PayMate will send a request to LIC with the parameters as specified by LIC.
  • In case the policy number is valid and payment is due, LIC will respond back with an invoice containing the policy details such as number, name, premium due and last date of payment to PayMate. If the policy number is invalid, LIC will send a rejection message to PayMate.
  • PayMate will send a return SMS to the customer containing the policy details along with the dynamic PIN.
  • Thereafter, the process will be similar to that of any merchant/internet transactions involving PayMate.
  • PayMate will send a confirmation of payment to LIC with the required parameters.
  • LIC will update the database for the payments received.
  • PayMate will send an SMS to the customer intimating the success/failure of the transactions along with Receipt ID.

If the policy is registered with LIC portal, you can download the Premium Payment Certificate by keying in the Receipt ID. Alternatively, you can approach the policy servicing office of LIC for obtaining the receipt.