Make Your Insurance Premium Payment Online

There are many risks and uncertainties involved in our day-to-day lives and having insurance provides a support system in unforeseen circumstances. Whether it be life insurance, health insurance, vehicle insurance or any other, paying your premiums on time is a must for the insurance buyers. To keep your insurance policy in force, you need to pay your insurance premiums before the grace period.

There were days when paying your insurance premium was a hectic task, but that is not the case anymore, as now, you can pay your premiums online instantly. Many payment platforms enable you to make these payments online. This guide will help with the complete procedure as well as the benefits of making insurance premium payments online.

How to Pay Insurance Premiums Online?

Among many reasons as to why you would like to pay your insurance premiums online is because it is very easy to do so. Plus, it comes with many additional benefits such as cashback and a lot more. To pay your insurance premium online, follow these steps:

On Paytm mobile application

  • Open the Paytm mobile application on your phone
  • Click on ‘Recharge & Pay Bills’
  • Then click on ‘LIC / Insurance’
  • Select your Insurer
  • Enter your details such as Policy Number, Date of Birth, Mobile Number etc.
  • Click on ‘Get Premium’ to check your premium amount
  • Select your preferred mode of payment and complete the payment

On Paytm’s official website

  • Go to the ‘Insurance Premium Payment’ page on Paytm
  • Select your Insurer
  • Enter your details such as Policy Number, Date of Birth, Mobile Number etc.
  • Click on ‘Get Premium’ to check your premium amount
  • Select your preferred mode of payment and complete the payment

As soon as you complete your insurance payment on Paytm, you will be notified about the same on your registered mobile number and email address.

Benefits of Paying Insurance Premium on Paytm

Whether you need your premiums for life insurance, car insurance, health insurance or any other, you get a fast online payment service on Paytm. On top of that, there are many benefits explained as follows:

  • Your payments are safe and secure with Paytm
  • You can save money on your insurance premium with the help of cashbacks and vouchers
  • Paytm also sends you reminders for your insurance payment every month so that you don’t forget to pay them on time
  • Paytm saves your details such as policy number, etc.

Conclusion

Paying your insurance premiums on time ensures that your insurance policy remains in force and that you get the maximum benefit when there is a need for it. You can pay your insurance premiums instantly on the payment portals like Paytm and can also get additional benefits such as cashback.

FAQs
Can I get cashback on online premium payment?
Yes, you can get cashback on your insurance premiums. Go to Paytm and check in the offer section for current offers on insurance premium payment and use the promo codes while making the payment to win cashback.
How long does it take to process insurance premium payment online?
It hardly takes a few minutes to completely process the online premium payment. However, owing to certain reasons, there can be delays from the insurer’s end.
What happens if the insurance payment online fails?
If the online payment of your insurance premium fails after you have completed the transaction, then the money will be refunded to your account as per the refund policy of the payment portal you used.
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