LIC appoints Paytm to handle its digital payments State-run LIC has tied up with Paytm to handle its digital payments. Paytm bagged the contract due to the wide range of digital payment services it provides. advertisement Life Insurance Corporation has appointed Paytm to handle its digital payments. (Photo: Reuters) State-run Life Insurance Corporation of India (LIC) has appointed Paytm to facilitate its digital payments. The state-run insurance firm had tied up with another payment gateway earlier but has now south a new deal with Paytm as most of its payments have moved to digital modes. As per the new agreement, the payment process needs to be smoother including a broader range of payment options and the inclusion of more players — banks, wallets, etc — in payment channels.