LIC validates the registration data and informs the bank/service provider about the registration status. Since LIC ’s database is de-centralized, generally it takes a week’s time for confirmation of registration data. Experience secure and hassle-free LIC premium payment. Pay your life insurance premiums conveniently online with LIC India . Existing Policy Service Please get answers below to what to do next for your query regarding LIC Policy As an LIC policyholder, manage your insurance with ease. Access information, services, and support tailored for you. Your partner in financial security.