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LIC Merchants, appointed by LIC of India, handle premium collection and customer service, managing records and aiding in policy transactions.

MUMBAI, MAHARASHTRA, INDIA, November 21, 2023 /EINPresswire.com/ -- A Person or entity designed by LIC OF India to manage the Premium collection and handle customer service at a large scale with small outlets. You can say an LIC Merchant manages all work from collecting premiums from the LIC Customers to managing all records and helping Customers with Policy Payments and Maturity.

LIC merchants act as intermediaries connecting LIC policyholders with LIC services. Affiliated Agent sell policies, facilitating transactions and online payments through the LIC merchant portal. Users provide account details, receive payment acknowledgment via the PG ID portal, and, in some instances, LIC Merchant generates premium receipts.

The LIC is a globally ranked life insurer, operates in 120+ countries, with 2048 branches and 1,554 satellite offices. Despite lower profitability and revenue growth compared to private players, LIC's extensive distribution network and increasing sales mix contribute to its market strength. In FY21, it secured a 66% share in the new business premium market.

What if Someone newly joined LIC as an agent or a Merchant the following information will help them in logging in to the LIC Merchant Portal and Setting up a new Password.

How to Login to LIC Merchant Portal?

First of all, Make sure to Join as an LIC Agent or LIC Merchant and receive a Login ID.

Step 1: First visit the Official Merchant Login Website merchant[dot]licindia.in

Step 2: Enter the Username and the Password in the given field asked on the portal.

Step 3: A captcha will be given to solve and enter the answer in the box given below.

Step 4: Check all the fields are filled and click on the Submit button to log in.

LIC Merchant Portal is an online platform that allows LIC agents to manage their policyholders’ accounts and perform various transactions. It is a one-stop shop for all your LIC needs. The Portal allows Agents to view and print their policy documents, make changes to their policy details, and pay their premiums online. It also provides a summary of all the business’s LIC policies and allows agents to renew their Client’s policies online.

What is LIC Merchant Premium Collection Portal?
LIC Merchant Portal is the website where you can pay the premium for your insurance policy online. Individuals involved in collecting the premiums for various life and health insurance policies from LIC are called merchants. Through LIC Merchant Premium Collection Portal, merchants can collect the premium and also view or update policy details through merchant tools available on the portal.

Mukesh Kumar
LIC
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