Why is my LIC or insurance premium payment pending?

Insurance premium payments on PhonePe are usually instant, but in rare cases, they may take longer than usual to be completed. This means that we are waiting for a confirmation from your insurance provider. In such cases, please wait for a few hours and check the History section on your PhonePe app for the final status of your payment.

In case the pending premium payment fails, the debited money will be refunded to you. If you made the payment through UPI, your money will be refunded to you within 3 to 5 days, for debit or credit card payments, your money will be refunded within 7 to 9 days, and for wallet and gift card payments, it will be done within 24 hours.

Related question(s):
What if my LIC premium payment fails?