My LIC vs Policybazaar: Licences, app permissions and premium payments in 2026

My LIC is the official app from the Life Insurance Corporation of India. Policybazaar is an insurance broker that shows policies from several insurers. We compare their registration details, phone permissions, and premium payment routes so you can decide for yourself.

By Qrates research desk · 2026-11-01

My LIC is the official app from the Life Insurance Corporation of India, launched on 15 April 2026, for managing policies, paying premiums and buying policies online. Policybazaar is an insurance broker that shows policies from several insurers. My LIC shows 4.6 on Google Play from 4,86,097 ratings, and Policybazaar shows 4.4 from 6,74,595 ratings (Qrates directory). Policybazaar's own pages say it is registered with IRDAI as a composite broker.

Quick answer: My LIC vs Policybazaar

My LIC offers a direct route to the insurer. On the Qrates directory, the app does not read your SMS or your contacts. Policybazaar acts as an insurance broker. It shows policies from multiple companies side by side. On the Qrates directory, the app reads your contacts but not your SMS.

At a glance: The Qrates directory data

This table uses data from the Qrates directory and the companies' own pages. The figures change, so check the latest on each page.

Feature	My LIC	Policybazaar
Publisher	Life Insurance Corporation of India	Policybazaar - Buy Insurance Online
Licence	IRDAI Reg No 512 (LIC website)	Composite Broker, Registration No. 742, valid till 09/06/2027 (company's own pages)
Reads your SMS	No	No
Reads your contacts	No	Yes
Google Play rating	4.6 from 4,86,097 ratings	4.4 from 6,74,595 ratings
Installs	1 crore+	1 crore+

You can check the latest figures on the Policybazaar Qrates page. User-reported problems for each app are listed on its Qrates page.

App permissions

What the My LIC app can see

The Qrates directory shows that the My LIC app does not read your SMS or your contacts. It does not list other permissions, so check the app's Google Play page before you install it.

What Policybazaar can see

The Qrates directory shows that the Policybazaar app reads your contacts and does not read your SMS. It does not list other permissions, so check the app's Google Play page before you install it. When you buy through a broker, you share your details with the broker as well as with the insurer.

Licences and direct vs broker buying

What is the My LIC app?

My LIC is the official application published by the Life Insurance Corporation of India. LIC's press release lists these features: view and manage your portfolio, pay premiums, track policy benefits, take a paperless policy loan, revive lapsed policies, and explore and buy policies online. You can compare this with other insurance apps in India.

The LIC website gives its registration as IRDAI Reg No 512. Buying directly means you deal with the company issuing your policy. To understand the differences in premium and spam, you can read more about LIC Digital vs Policybazaar: Premium differences, spam and app reviews.

The broker model

Policybazaar's own pages say Policybazaar Insurance Brokers Private Limited is a Composite Broker, Registration No. 742, Registration Code IRDA/DB 797/19, valid till 09/06/2027. You can confirm this with IRDAI. The Qrates directory has not yet matched this licence on its register check. Brokers earn money by distributing life and health insurance policies for various insurers.

This distribution model is under review. IRDAI published a consultation paper on distribution reforms on 23 September 2026, and extended the last date for feedback to 31 October 2026. It is a proposal, not a final rule (IRDAI press releases).

Claim support and using the app

Claims through a broker

When you buy through a broker, the claim decision still rests with the insurance company. If a dispute arises, use the insurer's grievance process first. The LIC website also links to Bima Bharosa, IRDAI's grievance portal.

Using the My LIC app

Keep some time in hand when paying a premium through any app. Technical problems can delay a payment if you wait until the last minute before the grace period ends. LIC also lists other routes, including its online portal and alternate channels. For more details on safety, see Is LIC Digital safe and registered in India? App facts and complaints.

Who each one suits, by need

If buying directly from the insurer matters to you, My LIC is the official app. You deal directly with the company that will eventually pay your claim. You can also check if an insurance agent or company is IRDAI registered in 2026 to ensure you are dealing with a legitimate entity.

If contact access matters to you, note that on the Qrates directory My LIC does not read your contacts and Policybazaar does.

If you want to view policies from multiple companies at once, Policybazaar operates as a broker. You must evaluate if a new policy genuinely offers better terms before replacing an old one.

FAQs

Is it better to buy LIC directly or through Policybazaar?

Qrates does not recommend either. Buying through My LIC means you deal with the insurer that issues the policy. Policybazaar is an insurance broker that shows plans from several companies. The Qrates directory shows that My LIC does not read your contacts, while the Policybazaar app does.

Policybazaar se LIC policy lena safe hai kya?

Policybazaar's own pages say Policybazaar Insurance Brokers Private Limited is a composite broker, Registration No. 742, valid till 09/06/2027. Check the current listing on IRDAI's site, and confirm with the insurer that your policy is issued before you rely on it.

Can I pay LIC premium on Policybazaar?

Policybazaar's guides say you can start on its LIC payment page with your policy number and date of birth. Its pages differ on the exact steps, so check the current screen. You can also pay through LIC's own website and the My LIC app.

What is the difference between My LIC app and Policybazaar?

My LIC is published by the Life Insurance Corporation of India for its own customers and policies. Policybazaar is a broker that shows plans from several insurers. On the Qrates directory, neither app reads your SMS, and only Policybazaar reads your contacts.

The short version

My LIC is the official app from the Life Insurance Corporation of India, launched on 15 April 2026.
On the Qrates directory, My LIC does not read your SMS or contacts.
Policybazaar's own pages say it is a composite broker, Registration No. 742.
On the Qrates directory, the Policybazaar app reads your contacts but not your SMS.
IRDAI's consultation paper on distribution reforms is a proposal, not a final rule.

Sources

Disclaimer

Qrates is an information directory. It takes no commission from any company listed and does not recommend products. Figures are taken from the sources named and dated, and they change; check the company's own page before you decide. This is not investment, credit, insurance or tax advice for your situation.