56 years of glorious service

Life Insurance Corporation of India turns 56 on 1st September, 2012. One of the objectives of the Corporation is the use of people’s money for people’s welfare and the life funds are deployed for the best advantage of LIC policyholders as well as for the community.

LIC launches Jeevan Deep

The Life Insurance Corporation (LIC) of India local division launched a micro insurance policy called ‘Jeevan Deep T-810’ for the benefit of the common man on the occasion of its 56 anniversary on Saturday.

How to pay LIC premium using IMPS

Inter mobile payment (IMPS)the fastest growing payment service which n now be used to pay premium online.

LIC embarks on ambitious plan to cover all Indians

State-owned Life Insurance Corporation of India (LIC) wants every Indian to have life cover by 2020. The country’s largest insurer has formed a team that’s working on the ambitious expansion strategy, which could cost as much as Rs.2 trillion to execute, two top LIC officials said.

LIC Housing Finance plans to hike loan disbursements to developers

LIC Housing Finance, a subsidiary of Life Insurance Corporation of India, plans to disburse around 8-10 per cent of its total loan portfolio to developers by the end of this fiscal.

Showing posts with label PAYMENT. Show all posts
Showing posts with label PAYMENT. Show all posts

Sunday, 2 September 2012

How to pay LIC premium using IMPS

12:40 pm , , ,


What is IMPS?

Currently majority of interbank mobile fund transfer transactions are channelised through NEFT mechanism. Under NEFT, the transactions are processed and settled in batches, hence are not real time. Also, the transactions can be done only during the working hours of the RTGS system.

In the above context, NPCI has carried out a pilot on mobile payment system initially with 4 member banks viz State Bank of India, Bank of India, Union Bank of India and ICICI Bank in August 2010. Yes Bank, Axis Bank and HDFC Bank have joined this pilot in month of September, October and November 2010 respectively. Interbank Mobile Payment Service (IMPS) public launch happened on 22nd November 2010 by Smt. Shyamala Gopinath, DG RBI at Mumbai and this service is now available to the Indian public.
IMPS offers an instant, 24X7, interbank electronic fund transfer service through mobile phones. IMPS facilitate customers to use mobile instruments as a channel for accessing their bank accounts and put high interbank fund transfers in a secured manner with immediate confirmation features.
This facility is provided by NPCI through its existing NFS switch.

 Objectives of IMPS
  • To enable bank customers to use mobile instruments as a channel for accessing their banks accounts and remit funds
  • Making payment simpler just with the mobile number of the beneficiary         
  • To sub-serve the goal of Reserve Bank of India (RBI)  in electronification of retail payments
  • To facilitate mobile payment systems already introduced in India with the Reserve Bank of India Mobile Payment Guidelines 2008 to be inter-operable across banks and mobile operators in a safe and secured manner
  • To build the foundation for a full range of mobile based Banking services.   


Following information to be entered for paying the LIC premium
  1. Merchant Bank : STATE BANK OF INDIA
  2. Merchant mobile number – 9745746454
  3. Merchant MMID – 9002858
  4. Payment Reference – Enter 8-digit policy number
After you made the payment please send a mail to jeevantharalic@gmail.com quoting your MMID number. In case amount paid is falling short of actual premium the money will be refunded to your account. Your premium receipt will be mailed to after the payment

For example :
Send a message to 9223440000 using the following keywords:
<MIMPS> <Merchant Mobile No> <Merchant MMID> <amount> <User ID> <MPIN> <Payment Reference>

MIMPS 9745746454 9002858<premiumamt><userid><MPIN><Policy No>  

List of participating banks in IMPS : http://www.npci.org.in/impsmerpay10.aspx 

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