Can I Buy A LIC Policy Without The Help Of Any LIC Agent?


If you are looking for an answer to the question of whether you can buy a LIC policy without the help of any LIC agent, then you have come to the right place. In this blog post, we will explore everything you need to know about buying LIC policies without agents. So, read on to find out more!

Yes, you can purchase a LIC policy without any help from a LIC agent but you have to pay LIC Premium with merchant portal. However, it is important to note that purchasing a policy without assistance may be more difficult and could result in you not getting the best deal possible on your policy. Additionally, if you have any questions or concerns about your policy, you will not have anyone to ask for advice or help.

Can You Buy A LIC Policy Without The Help Of Any LIC Agent?

Yes, you can buy many types of LIC Policies online, without the help of any agents. The process is simple and hassle-free, as customers need only to follow some basic steps and provide some personal information before making their purchase.

Before moving forward with the purchase order while choosing a policy online, it’s crucial to carefully read all the terms and conditions. Make sure to compare different policies in terms of features, benefits & premiums offered by various insurance companies.

This will help you select the best possible coverage for your needs that is also value for money. However, should you have any queries or doubts about a policy then it would be wise to seek advice from a LIC Agent for their opinion or even assistance in purchasing the desired policy.

How To Buy LIC Policy Online Without Agent?

Buying a LIC policy online can be a simple and convenient process. The first step in purchasing a policy without an agent is to log onto the website of the Life Insurance Corporation of India and open your account if you don’t already have one.

  1. Once your account is open, you must fill out the form available on the website, listing all relevant details including your contact information, bank details, premium amount, and type of policy desired.
  2. After submitting the form, click on ‘Pay premium’ to pay instantly via Netbanking or other digital payment methods like debit or credit cards, UPI, or even by a cash deposit to the nearest ICICI Bank branch.
  3. A receipt for your payment will be generated which needs to be safeguarded along with other critical documents such as a medical report, age proof, etc., that may be required from time to time.
  4. Finally, after the documents are verified and approved by LIC authorities, the policy bond will be emailed to you confirming that your purchase has been successful!

Documents Required To Buy LIC Policy Online Without Agent

Purchasing a LIC policy online without the help of an agent has never been easier, thanks to advances in digital technology. To get started, you’ll need to gather some documents as required by the Life Insurance Corporation.

  • To get started, you’ll need to gather some documents as required by the Life Insurance Corporation, including your Aadhaar card, PAN card, bank details, medical exam, and Blood Group reports, if applicable.
  • Once you’ve collected all these documents, you’ll be prepared to register for a LIC policy and manage everything online from the comfort of your home.
  • With a simple user interface and complete online assistance available 24/7, buying a LIC policy online is stress-free and convenient.

FAQs: Can I Buy A LIC Policy Without The Help Of Any LIC Agent

Q 1: Can I Purchase Insurance Without A Broker?

A 1: Your insurance can be purchased via a broker, a corporate agency, or an individual agent. To learn more, click here. Additionally, you can purchase your policy straight from the insurance provider, and some of them are available online.

Q 2: What Is The LIC Agent’s Commission Rate?

A 2: However, agents receive a commission for the insurance they sell. For the first year, LIC offers a commission of 25% to 35% on the policy premium, followed by 7.5% for the second and third years, and 5% till the policy’s maturity.

Q 3: Can I Purchase Insurance For Someone Else?

A 3: Don’t forget that not just anyone can buy a life insurance policy. A person who purchases insurance on behalf of another person must demonstrate that they have an insurable interest.

Q 4: Do LIC Policies Through Agents Work Well?

The benefits of purchasing LIC coverage through an agent are numerous. The agent might, for instance, educate you on the policy and all of its advantages. You must, however, exercise caution because the agent may occasionally deceive you. It is best to carefully study the policy’s terms before purchasing.

Final Thoughts

Buying a LIC policy without the help of a LIC agent is possible, but it’s not always easy. The easiest strategy to purchase a LIC policy without an agent is to conduct research and have an understanding of the various available policy types.

You can also use online resources to purchase a policy, or you can speak with a licensed insurance broker. Whichever method you choose, make sure you are comfortable with the process and that you fully understand the terms and conditions of your policy.