How to pay Life Insurance Premium at a Discount?

We bring you some great ways in which you can pay your Life Insurance Premium hassle-free plus with a discount!

by FighterMan Updated: 18 Sep, 2021, 00:03 IST
86 52170

Gone are the days to pay Life Insurance Premium via agents or related sources. You can pay them online and open doors to discounts and/or cashback rewards. Moreover, you can get yourself a life insurance policy online without any agents to save more. Leading companies such as LIC, Aditya Birla, Aviva, Bajaj Allianz, Bharti AXA, and many more are available for digital payments. You can pay via their official portals or digital wallet platforms. If you pay via their official portals then benefits include rebates which vary from company to company. Besides, digital wallets can give you exciting rewards. Let’s check them out.

How to pay Life Insurance Premium at a Discount?
Amazon Pay offers on Life Insurance Premium

Amazon Pay has got many rewarding offers on payment of your Life Insurance Premium. You can pay them by visiting Amazon Pay -> Bill Payments/Insurance & Investments -> Insurance Premium.

Payment Mode

Discount or Cashback Rewards

Amazon Pay UPI

Rs 50 cashback every month

All Payment Modes

Get a surprise reward(user specific)

Amazon Pay ICICI Bank Credit Card

2-5% reward points(1 reward point = 1 Rs) as Amazon Pay cashback

Amazon Gift Card

There many gift card platforms(Zingoy, Woohoo, etc) offering discounts on it

AMEX(American Express) Cards

Spend min. Rs 10,000 and get 10% cashback upto Rs 2,000(offer valid till 07/11/2020)

SBI SimplyCLICK Credit Card

2.5% cashback(buy Amazon Gift Card from this card and pay via this gift card)

Currently, the company is offering Rs 750 cashback on applying for Amazon Pay ICICI Bank Credit Card. You can buy Amazon Gift Cards worth the amount of your premium and then pay via them. To avail the AMEX Card offer, firstly you need to check the eligibility of your card. If eligible then save it in your account and then proceed for the transaction. If you are using the SBI SimplyCLICK Credit Card offer then your effective reward will be 3.5% with 1% cashback on paying its bill via HDFC Bill Pay using HDFC Easy Shop Platinum Card.

Google Pay offers on Life Insurance Premium

When you pay your Life Insurance Premium via Google Pay, you will get scratch cards worth upto Rs 1,000. There may be other offers as well, you can check its “Offers” section for this which regularly keeps on updating. Another option to save is by participating in Google Pay’s Go India game where you can win anywhere between Rs 101-501 by collecting tickets & kilometers on paying your premium.

PayZapp offers on Life Insurance Premium

PayZapp is offering 5% cashback upto Rs 150 per month on payment of bills which includes Life Insurance Premium. Apply the coupon code “BILLPAY” at checkout. Besides, make sure that your payment is of minimum Rs 200 and your KYC is done to successfully avail this offer.

PhonePe offers on Life Insurance Premium

PhonePe is one of the first digital wallets to start online payments of various company’s Life Insurance Premium. At start, it used to give great discounts and/or cashbacks but currently the rewards are somewhat up & down. Still, you can expect good offers from it considering its prominence among digital wallet apps.

Paytm offers on Life Insurance Premium

Paytm generally comes up with promo codes which gives you discounts or cashbacks. Currently, it is offering 6% Paytm cashback upto Rs 1,000 on shopping from Paytm Mall via the promo code “MAHASHOPRB” for Life Insurance Premium. You can also use your Paytm Wallet balance to reduce the premium amount.

Mobikwik offers on Life Insurance Premium

Currently, Mobikwik is running 1 offer on Life Insurance Premium. Here, you will get Rs 100 cashback by paying via Mobikwik UPI on its mobile app. Mobikwik comes up with many SuperCash offers so probably more better ones are yet to come.

How do you pay your Life Insurance Premium with/without a discount? Do share with us in the comments box below.

86 Comments  |  
47 Dimers
  • Sort By
Deal Cadet Deal Cadet

I believe going via an agent is always much fruitful…till my old agent was not retired, he managed to pay a lot of amount for my premiums…and after moving to online payments, I get max 1.5 or 2%…

Deal Subedar Deal Subedar

Very well explained…. These are indeed best ways. I beleive amazon is the best till now with 2.5% with sbi simply click

Deal Cadet Deal Cadet
shilpinmh wrote:

How to get 2.5% cashback from sbi card

Any one pls explain how to get 2.5% cashback using sbi card in Amazon

Deal Cadet Deal Cadet

Use Mobikwik Amex card you can pay premium by using 3% supercash + you can add balance in mobikwik using credit card which gives rewards like Amazon icici card gives 1% cb. In this way you can pay premium @ 4% off

Deal Cadet Deal Cadet
Krrezi1 wrote:

I believe going via an agent is always much fruitful…till my old agent was not retired, he managed to pay a lot of amount for my premiums…and after moving to online payments, I get max 1.5 or 2%…

You mean he used to pay your premiums? Every year?

Deal Cadet Deal Cadet
Expand
neo13 wrote:

You mean he used to pay your premiums? Every year?

not every year, but yes he paid 2 to 3 premiums for each of my policies
I agree not every agent do that much, but still every policy holder I know has got at least 1 premium paid by their agents.
And again I have not found this practice in metropolitan cities, that’s why for now I am doing online payments only.

Deal Major Deal Major

which is better to pay LIC premium in amazon?
1) buy amazon GVs in hdfc smartbuy site using Diners club black card and use the same to pay LIC premium in amazon website?
2) buy amazon GVs directly in amazon using SBI SimplyClick card and use the same to pay LIC premium in amazon website?

Deal Subedar Deal Subedar
ManishTaneja wrote:

Use Mobikwik Amex card you can pay premium by using 3% supercash + you can add balance in mobikwik using credit card which gives rewards like Amazon icici card gives 1% cb. In this way you can pay premium @ 4% off

Hi @ManishTaneja i don’t see LIC in the biller

Deal Subedar Deal Subedar
Expand
muralece wrote:

Any one pls explain how to get 2.5% cashback using sbi card in Amazon

Hi @muralece and @muralitg
I have paid LIC premium on amazon Mobile app and used SBI simply click card. Have managed to get 10x reward point (which is 2.5%) on it as on mobile app the charge comes as Amazon pay instead of bill payment etc. This might be loophole in the system which may get fixed. Till Sep i know and have received 10x reward for LIC payment.
give karma if liked smile

Deal Major Deal Major
Expand
Loveall wrote:

Hi @muralece and @muralitg
I have paid LIC premium on amazon Mobile app and used SBI simply click card. Have managed to get 10x reward point (which is 2.5%) on it as on mobile app the charge comes as Amazon pay instead of bill payment etc. This might be loophole in the system which may get fixed. Till Sep i know and have received 10x reward for LIC payment.
give karma if liked smile

You directly did bill payment using SBI Simply Click Card or bought GCs using SBI Simply Click card and then paid using GCs?

Deal Major Deal Major
ManishTaneja wrote:

Use Mobikwik Amex card you can pay premium by using 3% supercash + you can add balance in mobikwik using credit card which gives rewards like Amazon icici card gives 1% cb. In this way you can pay premium @ 4% off

can we use mobikwik amex card in amazon website for bill payments?

Deal Cadet Deal Cadet
Expand
Loveall wrote:

Hi @muralece and @muralitg
I have paid LIC premium on amazon Mobile app and used SBI simply click card. Have managed to get 10x reward point (which is 2.5%) on it as on mobile app the charge comes as Amazon pay instead of bill payment etc. This might be loophole in the system which may get fixed. Till Sep i know and have received 10x reward for LIC payment.
give karma if liked smile

Thanks. Karma added

Deal Cadet Deal Cadet
Expand
Loveall wrote:

Hi @muralece and @muralitg
I have paid LIC premium on amazon Mobile app and used SBI simply click card. Have managed to get 10x reward point (which is 2.5%) on it as on mobile app the charge comes as Amazon pay instead of bill payment etc. This might be loophole in the system which may get fixed. Till Sep i know and have received 10x reward for LIC payment.
give karma if liked smile

Thanks

Deal Cadet Deal Cadet
Expand
Loveall wrote:

Hi @muralece and @muralitg
I have paid LIC premium on amazon Mobile app and used SBI simply click card. Have managed to get 10x reward point (which is 2.5%) on it as on mobile app the charge comes as Amazon pay instead of bill payment etc. This might be loophole in the system which may get fixed. Till Sep i know and have received 10x reward for LIC payment.
give karma if liked smile

Thanks

Deal Subedar Deal Subedar

payment using amazon pay from lic portal allows to use amazon balance.. can utilize amazon pay balance if have or can buy from mobikwik using 3% supercash

Deal Major Deal Major
Expand
Loveall wrote:

Hi @muralece and @muralitg
I have paid LIC premium on amazon Mobile app and used SBI simply click card. Have managed to get 10x reward point (which is 2.5%) on it as on mobile app the charge comes as Amazon pay instead of bill payment etc. This might be loophole in the system which may get fixed. Till Sep i know and have received 10x reward for LIC payment.
give karma if liked smile

I paid LIC premium worth 7703 in amazon app using SBI SimplyClick Card. I’m supposed to get 770 points but i got only 385 points. Any idea why?

Community Angel Community Angel

To get best discount, I feel Buying Amazon Gv at the max discount possible and pay using Amazon Pay Balance is the best case scenario

replyuser