Ways To Pay Insurance Premium

Outlook Money

Digital Wallets

One can pay insurance premiums through digital wallets, such as Paytm, Gpay, among others. It is an easy and convenient way, as wallets are linked to bank accounts. 

Digital Wallets Shutterstock

Through Bima-ASBA

The payment of premiums through the unified payment interface (UPI) is pretty simple. The amount towards premium is blocked through UPI for the issuance of life and health insurance policies. This is called Bima-ASBA. 

Digital Payments

Through agent

If one has bought a policy through an insurance agent, the payment can be done directly to the agent through cash or cheque. 

Agents

Through official website

The policyholder can also pay the premium directly through the insurer's website. 

website

Credit card standing instruction

Instructions can be given to the credit card issuer to pay the insurance premium on a certain date. This can be executed by giving the credit card details to the insurance company, which then notifies the credit card issuer to deduct the premium on the given date.

Credit Card

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