Best LIC Online Payment Apps

We all know the importance of getting an insurance plan that fulfills our individual insurance requirements as per the budget. When buying an insurance plan, one should never ever be influenced by low premiums and conduct a thorough research of the Life  Insurance Company and identify their insurance requirements before investing in a life insurance plan. Pay LIC Loan Online Download Oneapp now

Today, there are several companies offering  Life Insurance Plans for every individual’s needs. But before getting yourself a life insurance plan, make sure to check out the following factors prevalent in a particular  insurance company.


1. Claim Settlement Ratio: 

The Claim Settlement Ratio or CSR of an insurance company explains the reliability and effectiveness of the company. The claim settlement ratio of an insurance company generally represents the number of claims settled in the current financial year against the total number of claims. This ratio helps us to find out how active the company is, in terms of claim settlements. 

The high claim settlement ratio of the insurance company talks about how dedicated the insurance company is in terms of claim settlement. This depicts the loyalty of the insurance company towards its customers. The claim settlement ratio is reviewed by the Insurance Regulatory and Development Authority (IRDA).

2. Customer Care Service: 

Customer Care Service is an integral factor considered while opting for an insurance plan. Choose an insurance company that provides you with good quality customer care service. When purchasing a life insurance policy, a customer should be aware of the company’s efficient customer care service, which is available 24×7 to solve any queries and provide necessary assistance.

3. Availability of Riders: 

Life Insurance Company Riders are those additional benefits which an insurance company offers while selling life insurance plans. They are purchased with the plan, increase the premium and enhance the life cover benefit as well. A customer should always make sure that the insurance company offers riders or an option to add riders to the insurance policies. Some of them include Critical Illness Rider, Accidental Death Benefit Rider, Accidental Total or Permanent Disability Rider, and Waiver of Premium Rider. With the help of these additional riders, an individual can choose the best possible insurance plan and rider offered along with it.

4. Persistency Ratio of the Company: 

The persistency ratio of a Life Insurance Company depicts the number of policyholders who have renewed their life insurance policies with the same insurance company. It is the ratio of the total number of policyholders along with the number of policyholders renewing their policies. The persistence ratio of the company shows the satisfaction of the customers with the same insurance service provider. The Insurance Regulatory and Development Authority (IRDA) observes and tracks the persistence ratio of each of the insurance companies. 

5. Feedbacks and Reviews: 

One should always go through the feedback and reviews about a particular insurance company, shared by the consumers. Pay attention to the detailed feedback and complaints (if any). The applicant will have a thorough idea about the insurance company which is better and will be beneficial to opt for.


Do you know now you can pay your life insurance premiums using your oneapp. 

Download oneapp now!

  • Once you have downloaded oneapp, you need to register using your mobile number.
  • Upon registration you will reach the dashboard of the app where you can find many cards for different actions.
  • Scroll to onepay, enter by clicking the ‘Pay Bill’ button.
  • You reach another window with several popular services that can be paid online using oneapp.
  • Search and click ‘insurance’.
  • It will list down several of the insurance plan providers. Search your provider’s name and click.
  • Enter your policy account number and date of birth. It will fetch all your policy data, premium amount and due date.
  • Now click the pay button and pay using your preferred digital payment option.

If you are thinking of getting a Life Insurance Policy, do check out the insurance companies that have these important factors mentioned above in the article. 

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