LIC Premium Receipts
Full Guide
LIC Premium E-Receipts
Suppose a person wants to get a life insurance policy while abroad.
Now you has the ability to do so. To purchase and access your Life Insurance Corporation of India receipts, you need to follow LIC e-services instructions.
Click on customer portal access to a LIC premium account on the LIC website to get your receipt online.
From here, you can get your LIC Premium Receipts.
LIC Premium Receipts are receipts given out to a policyholder by the insurer or an agent on behalf of the insurer.
These receipts confirm that LIC services have received payment. The client is recognized by your user id details.
There is an important aspect of these receipts or documentation.
These receipts and documents need to show the premium the policyholder already paid against the policy.
Knowing your policy details will allow the LIC Premium payment receipt holder to collect your insurance claim. Simply and quickly.
The newly purchased life insurance policy has a deductible based on your policy details.
Downloading your Receipts
If a customer has made premium payments towards their policies from the LIC Website, it becomes simple to get your receipt.
Downloading the Consolidated Premium Paid statement receipts online using LICs e-services.
When purchasing a life insurance policy from the LIC website, the customer creates a user ID and password. This permits access to the e-services offered.
Making an account is simple. All one needs is a form of identification. When prompted, enter your name, date of birth, and identification into the page provided on the LIC portal.
After a user ID and password are verified by the LIC website, the client only has to make an online payment and download LIC Premium.
This registered premium account helps newly registered user make their online payments.
Through the account, it is possible to receive your payment receipt to your email.
You can also view your LIC policy and check out any other Life Insurance Corporation of India content.
Customers can also use LIC’s e-services to get their Premium paid statement for each policy they have bought from its website.
When Do I Get my LIC Premium Insurance?
The consent of the person assured is obtained in the form of a premium paid statement.
After receiving the payment, the insurance company issues the First Premium Receipt. The first receipt acknowledges that the proposal of the life insurance is assured.
It contains all details of the policy, including the Tax/Premium Paid Certificate.
The “Tax/Premium Paid Certificate ” is a document that displays the total premium you have paid. The document covers all your policies in a specific financial year.
You can use this document as investment proof for tax filing. The receipts of your premium payment will be available one day after your premium due date. And the Tax/Premium paid certificate will be available the day after the payment is made.
Do I get any other receipt by post?
You can only receive an e-receipt from LIC Premium.
Almost all interactions involving your LIC insurance will be done online.
The Insurance company will send the LIC premium receipt to your LIC Account and your e-mail.
An e-receipt stands for an “Electronic Receipt” it is, simply put, a receipt in a digital format. It has the same laws and rules that apply to a normal paper receipt, with the bonus is much harder to lose.
Another benefit is that LIC has centres throughout the country doing the help service for the official website.
A quick search online will help you locate the nearest CSC centres throughout the country.
Are e-receipts valid for Income tax purposes?
E-receipts are online and are valid for all purposes that involve the usual areas a paper receipt covers. e-receipts are far handier as they are saved on your e-mail.
If you have ever had difficulty organizing or saving your receipts, you can rely on new software that collects does the collecting for you.
You can view your payment history and details about specific any specific information you might want.
I’ve Lost the Receipt for my LIC Premium Receipts. What Should I Do?
On the LIC website, select “Online Services” and log in using your user id and password as well as your date of birth. This will redirect you to two possible menus.
“Individual Policy Paid Statement” and “Consolidated Premium Paid Statement.”
“Individual Policy Paid Statement” is used to download the premium payment statements of individual policies.
“Consolidated Premium Paid Statement” is used to download the premium payment statements. You will receive one for every single policy you have purchased from LIC.
Should I Store the Receipts from my LIC Premium Payments?
Yes, apart from the benefit of basic bookkeeping, which will help you understand your spending and be in better financial control. It would be best if you kept them for accounting purposes.
It will also save you the trouble of having to go searching for your LIC receipts if you need them.
Life insurance statements hold valuable information. In cases of an accident, you want to access that information as quickly as possible.
You may also be eligible for a tax return due to VAT/ GST/ Sales Tax. Keeping your receipts will let your accountant know if and how much of a tax return you deserve.
Several laws may provide you with a rebate in cases such as insurance.
Storing your receipts is another way to rid yourselves of tax authorities who want to “Make sure everything is ‘By the Book.”
By having all of your receipts, invoices, and statements ready, you can provide them quickly and be rid of the instruction into your business.
Having organized books is the type of thing that can only help your business.
How Do I Automate the Management of LIC Premium Receipts?
LIC sends its receipts as e-receipts, so a system that drafts the receipts directly from your e-mail
To boost your business, you need a system that can scan your receipts from your email. Then put them in order and save them for you in a location you can easily access.
WellyBox then copies all your receipts. The copied receipts are placed in one place, your WellyBox Dashboard. On your Dashboard, you can manually scan in paper receipts.
