Frequently Asked Questions

BankPay Insurance is a digital payment facilitation platform operated by Swacpay Solutions Private Limited. We enable customers to pay insurance premiums for existing policies issued by IRDAI-registered insurance companies through the BBPS (Bharat Bill Payment System) network. We are a payment facilitator — not an insurer, broker, or advisor.

We support premium payments for all major IRDAI-registered insurance companies listed on the BBPS network, including:

• Life: LIC, HDFC Life, SBI Life, ICICI Prudential, Bajaj Allianz Life, and more
• Health: Star Health, Care Health, Niva Bupa, Aditya Birla Health, and others
• Motor: ICICI Lombard, HDFC ERGO, Bajaj Allianz General, New India Assurance, and more
• General: Various home, travel, and other general insurance providers

No. BankPay Insurance is strictly a premium payment platform for existing policies. We do not sell, issue, or underwrite any insurance products. To buy a new policy, please contact your insurance company or a licensed insurance advisor directly.

It's simple:

1. Sign in or create your BankPay Insurance account
2. Select your insurance category (Life, Health, Motor, General)
3. Choose your insurer and enter your policy number or customer ID
4. Verify the bill details fetched via BBPS
5. Complete payment using your preferred mode (UPI, Net Banking, Card)
6. Receive instant confirmation with a BBPS reference number

We accept multiple payment modes through our RBI-authorized payment gateway, including UPI (GPay, PhonePe, Paytm, etc.), Net Banking, Debit Cards, and Credit Cards. Available modes may vary based on your bank and the payment gateway in use.

Yes. All transactions are processed through the BBPS network and RBI-authorized payment gateways with SSL encryption. We do not store your card, UPI, or net banking credentials. BankPay Insurance follows industry-standard security practices to protect your financial data.

Payment acknowledgment through BBPS is typically instant. However, the actual premium credit to your insurance policy depends on the insurer's processing time. BBPS transactions are usually updated within 1–2 business days. You will receive a BBPS reference number as proof of payment.

If payment fails, the amount is not deducted. If the amount was debited but the transaction shows as failed, it will typically be auto-reversed to your account within 3–5 business days as per your bank's policy. Please check your Contact page to reach our support team if the refund does not process.

Refund eligibility depends on the nature of the payment. Payments successfully processed to the insurance company via BBPS are generally non-refundable as they represent a premium payment to your insurer. For failed or duplicate transactions where money was debited, please see our Refund & Cancellation Policy for full details.

You can reach our support team via the Contact Us page. We aim to respond to all queries within 1–2 business days. For urgent issues related to a failed or disputed transaction, please keep your BBPS reference number handy.