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  • Life Insurance Corporation of India (LIC)

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    The Life Insurance Corporation of India (LIC) is a state-owned insurance group and investment company. It is the largest insurance company in India with an estimated asset value of Rs 1,560,482 crore.

    Established in 1956, The Life Insurance Corporation of India offers a variety of insurance products to its customers such as insurance plans, pension plans, Unit Linked plans, special plans and group schemes as well as online child insurance plans

    The LIC currently has a network of close to 2,048 branches and 1,337,064 agents operating in different cities and towns all over the country.


    Key Highlights of LIC Life Insurance

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    Claim-settlement ratio for LIC Life Insurance

    Claim Settlement Ratio

    Claim-settlement ratio of 98.33% for year 2015-2016

    Occupation eligibility for LIC Life Insurance

    Grievances Resolved

    100% Grievances Settled for year 2015-2016


    To be eligible for LIC Life Insurance

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    Minimum age for LIC Life Insurance

    You should be at least 18 years old

    Maximum age for LIC Life Insurance

    You should be less than 60 years old

    Occupation eligibility for LIC Life Insurance

    You should be either Salaried, Self- employed, a professional or have your own business


    LIC Life Insurance at a Glance

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    Maximum tenure of LIC Life Insurance

    A maximum tenure of 35 years

    Maximum sum assured for LIC Life Insurance

    Min Sum Assured: Rs 25 Lakhs
    Max Sum Assured: No limit subject to underwriting

    Exclusions for LIC Life Insurance

    Specific exclusions: Suicide within the first 12 months


    Documentation needed to apply for an LIC Life Insurance

    • 1. Identity Proof
    • 2. Age Proof
    • 3. Income Proof
    • 4. Address Proof
    • 5. PAN Number

    Why To Opt For LIC Life Insurance Plans?

    LIC is said to be the largest life insurance company in the world with 23 crore customers and counting. In India, LIC is synonymous with life insurance with some of the most reasonably rated premiums and sufficient coverage options, regardless of which walk of life an individual belongs to. The brand name is not the sole reason one should opt for LIC since it is not ideal to rely on life insurance products from a single brand. Here is why one should opt for LIC as a life insurance provider:

    • Technologically superior Network: LIC has been the leader as an insurance provider for its efforts to stay ahead of the game by being at par if not better in terms of its network when it comes to providing advanced and efficient services with over 2000 branch offices and 156 satellite branches. The company uses technology such as WAN, IVRS, LAN,IVRS & even EDMS which allows people to go paperless when dealing with insurance documentation.
    • Not Alone in the Game: The company does not work alone but partners with insurance and financial tycoons including NSE, LIC Mutual Fund, NCDEX, Stock Holding Corporation of India, Insurance institute of India and National insurance Academy among many similar organizations. Hence, it is working through convergence as well.
    • Going International: It has fully functional offices in countries such as Nepal, Sri Lanka, .Saudi Arabia and Bahrain. LIC has also been ambitious enough to plan opening offices in Australia, Canada and USA.
    • Product Variety: You will soon discover from the below given list that this company boasts of one of the highest number of policy types available in life insurance alone. It has the largest portfolios when it comes to life insurance group schemes to be one of their highlights. They have a huge clientele of corporates for group insurance.
    • Innovation in the Industry: The company launches new products every other quarter and they are mostly to serve the society than to make profits although they are doing pretty well as an insurance company, financially. They were the first to launch micro-insurance products so that people living below the poverty line in India could afford insurance for a certain amount of discount.
    • Performance in The Stock Market: When it comes to stock market positioning, LIC stocks are one of the most stable stocks available in the BSE. Some of the most well-performing stock lists almost always feature this company especially when it comes to insurance providers.

    Types of Plans Available From LIC:

    LIC Endowment Plans:

    Plan Type Basic Sum Assured Term
    Single Premium Endowment Plan Rs. 50,000 25 years
    New Endowment Plan Rs. 1 lakh 35 years
    LIC’s New Jeevan Rakshak Rs. 1 lakh 20 years
    LIC’s Limited Premium Endowment Plan Rs. 3 lakhs 21 years
    New Jeevan Anand Rs. 1 lakh 35 years
    LIC’s Jeevan Labh N.A. N.A.
    LIC’s Jeevan Pragati N.A. N.A.
    New Jeevan Lakshya Rs. 1 lakh 25 years

    LIC’s New Jeevan Rakshak: For people who wish to use an endowment non-participating non-linked plan which consists a well shared combination between savings and protection, might find this policy useful. This plan besides the death and maturity benefits, comes with loan facility against the policy.

    New Jeevan Anand: The return from this policy is either 125% of the sum assured or two times of all the premiums. Otherwise, there is the advantage of the minimum death benefit to be paid to the nominated at 105% and nothing less than that. The maturity benefit can go up to denominations of Rs. 2 lakhs.

    LIC’s Jeevan Labh: This is a participating endowment plan. The policy allows participation in the profits of the company and hence allows the policyholder to enjoy simple reversionary bonuses along with final additional bonuses at the time of maturity. The death benefit also includes the above and nothing less than 105% of the sum assured.

    LIC’s Jeevan Pragati: This plan is a non-linked but profits plan providing cover automatically for risk in the course of 5 policy years. Loans are available for liquidity needs against this policy. It also has accident bonus along with the basic sum assured payout of 125% in the 6th and 10th policy years and 150% of basic sum assured in the 11th and 15th year of policy and from thereon it becomes 200% of the basic sum assured.

    LIC’s Jeevan Lakshya: The age of entry for this plan is 30 years, but the policy Term is only 25 years, considering the basic sum assured is Rs. 1 lakh and the annualised premiums are as low as Rs. 4366. This plan offers loan facility along with great maturity benefits and is non-linked participating endowment plans for people who want protection and savings at the same time.

    LIC Money Back Plans:

    Plan Type Basic Sum Assured Term
    New Money Back Plan - 20 Years Rs. 1 lakh 20 years
    New Money Back Plan - 25 Years Rs. 1 lakh 25 years
    New Bima Bachat Plan Rs. 1 lakh 9, 12 or 15 years
    LIC’s Bima Diamond 10 x annualized premium 12, 16 or 20 years
    LIC’s Jeevan Tarun N.A. 20 years
    New Children’s Money Back Plan Rs. 1 lakh 20 years

    New Money Back Plan - 20 Years: The 20 year new money back plan comes with not only death benefits and maturity benefits, similar to other life insurance plans but it also has the major advantage of survival benefits as well as optional benefits. This money back plan also is a participating policy which allows the policyholder to enjoy simple reversionary bonuses from LIC as a part of participating in the company’s profits.

    New Money Back Plan - 25 Years: This plan is very similar to New money Back Plan except the difference in Term and the years, the benefits are paid out. This plan also has a survival benefit along with the regular death and maturity benefit. It is a participating money back plan which means that the policyholder also enjoys an amount from the company’s profit. The fact remains that LIC is one of the leading insurance providers in India which means the company does make profits often.

    New Bima Bachat Plan: This plan has a money back advantage for it’s users in the most convenient terms of 9 , 12 and 15 years. In these terms within the interval of 3 years, people can enjoy the money back advantage of 15% of the sum assured. Also, this product requires only a large lump sum one-time premium, which is also a good one time-investment plan if you are looking for a long-term investment.

    LIC’s Jeevan Tarun: This plan is specially designed to meet the educational and other needs of growing children through annual survival benefit payments from ages 20 to 24 years and Maturity Benefit at the age of 25 years. It is a flexible plan wherein at proposal stage the proposer can choose the proportion of Survival Benefits to be availed during the term of the policy. Note that this policy can be bought by a grandparent or parent for their grandchildren or children as long as they are less than 12 years of age.

    LIC’s Bima Diamond: This is a new plan with money back pay outs for people who opt for this plan. The basic sum assured will be paid out in certain specified time intervals as per the term chosen by the policyholder, which ranges between 9 to 20 years. There is also the advantage of optional and bonuses based on the company’s policies.

    New Children’s Money Back Plan: This particular plan is made to serve the needs of the a growing child, whether it is in the form of education or nurture his skills at a sport. This plan intends to help children through adulthood with ease. This insurance policy that can be a great gift for your child is meant for children whose parents like to plan ahead.

    LIC Term Assurance Plans:

    Plan Type Basic Sum Assured Term
    LIC's Anmol Jeevan II Rs. 25 lakhs 35 years
    LIC's Amulya Jeevan II Rs. 25 lakhs 35 years
    LIC's e-Term Rs. 25 lakhs (Rs. 50 lakhs for non-smokers) 35 years

    LIC's Anmol Jeevan II: This is a revised protection plan that offers fiscal protection to the family of the insured in case of his/ her unfortunate demise and is made suitable the dependants at home.

    LIC's Amulya Jeevan II: This is a minimal and basic plan for long-term investment of you child. There also some regular benefits of the product, which is much needed, is a product such as this.

    LIC's e-Term: The LIC e-Term (Online term plan) allows people to apply and maintain their term life insurance plan online. This is a regular non-participating online term assurance plan which provides families with the financial security they require after and if the policyholder is no more.

    LIC's NEW TERM ASSURANCE RIDER - (UIN: 512B210V01):

    This is a rider than can be used to make a whole insurance policy to gain the benefits of a term insurance policy with a slightly higher premium.

    LIC ULIP Plans:

    Plan Type Basic Sum Assured Term
    LIC's New Endowment Plus 10 x Annualized Premium N.A.

    LIC's New Endowment Plus: Though this is an endowment plan, but it is a linked product as well. This policy also helps make more tax savings and ensure the financial security of your family at the same time. The sum assured is variable i.e. the yearly premium is multiplied with 10 and whatever is the number, will be the sum assured. There are the regular benefits with this product but it also is a linked plan, allowing people the chance to invest through their insurance.

    LIC Pension Plans:

    Plan Type Basic Sum Assured Term
    LIC's New Jeevan Nidhi Rs. 1 to 50 lakhs N.A.
    Jeevan Akshay-VI Rs. 1 lakh N.A.

    Jeevan Akshay-VI: This pension plan, under LIC has several benefits including the complete life cover, but also provide a stable source of income from investment from this plan. It is a annuity plan and requires the payment of a single premium. There are multiple modes of payment available for the annuities.

    LIC’s New Jeevan Nidhi: This plan provides for vesting and immediate annuity at the same time to help maintain stability. Also it is a single premium pension plan but the payments are deffered. The death benefit in total including other bonuses are given to the nominated in the form of a lump sum amount and annuities.

    LIC Micro Insurance Plans:

    Plan Type Basic Sum Assured Term
    LIC's New Jeevan Mangal Plan N.A. N.A.
    LIC’s Bhagya Lakshmi Rs. 2 to 5 lakhs 7 to 15 years

    LIC’s New Jeevan Mangal Plan: This plan is made to ensure that, with a little investment and for a little time, one can assure financial security for their loved ones, to a certain extent. This micro-insurance product is known to be very useful as a life insurance with accident cover, which adds as double benefit to your insurance policy.

    LIC’s Bhagya Lakshmi: This is a micro-insurance plan which means that it is a plan for short spans of time with limited protection of payment. It allows you to enjoy a cover of 110% of the sum assured at the end of the maturity term or as death cover.

    LIC Group Plans:

    Plan Type Basic Sum Assured Term
    LIC's Group Credit Life Insurance Rs.4 lakhs 5 to 35 years
    LIC's SINGLE PREMIUM GROUP INSURANCE Rs.10 lakhs 5 to 35 years
    LIC's New Group Leave Encashment Plan Rs. 1000 (minimum) Yearly renewable
    LIC's NEW ONE YEAR RENEWABLE GROUP TERM ASSURANCE PLAN I Rs. 1000 (minimum) Yearly renewable
    LIC's NEW ONE YEAR RENEWABLE GROUP TERM ASSURANCE PLAN II Rs. 1000 (minimum) Yearly renewable
    LIC's New Group Gratuity Cash Accumulation Plan Rs. 1000 (minimum) Yearly renewable
    LIC's New Group Superannuation Cash Accumulation Plan N.A Yearly renewable

    LIC's New Group Superannuation Cash Accumulation Plan: This is a group plan with contribution required. While some benefits are variable, there are others which are assured in this product. This annually renewable group insurance policy is sure to help make your employees get relief when needed for their families, in their absence.

    LIC's NEW ONE YEAR RENEWABLE GROUP TERM ASSURANCE PLAN I: This assurance plan has several beneficial features, but the most important to note is the fact that it is one of the most sought out plan for small employer and employee groups which could be as small as a 25 member group, although for non employer employee group there should be at least 50 members.

    LIC's NEW ONE YEAR RENEWABLE GROUP TERM ASSURANCE PLAN II: This assurance plan is similar to the one above and with the same name. It is almost the carbon copy of the its preceding policy.

    LIC's New Group Gratuity Cash Accumulation Plan: If you are looking to provide a simple way of giving your employees a simple and convenient way of statutory Gratuity Benefit then this policy from LIC should not be ignored. Also, there are no restrictions on the group size for existing schemes and only 10 for new schemes.

    LIC's New Group Leave Encashment Plan: Besides the regular advantages of a group term plan, as the name suggests, it comes with leave encashments benefits along with death benefits. This is but a funds based variable policy but is non-linked or non participating by nature. The contributions are made by the employed and not the employers and hence requires contribution from the policyholders who are a member of the group.

    LIC's Group Credit Life Insurance: This is group policy is made for an organization with a size of at least 50 members and is one of the most convenient and reasonable products in the series. The minimum sum assured is Rs. 4 lakhs and requires only single premium. The group can be insured for anywhere between 5 to 35 years.

    LIC's SINGLE PREMIUM GROUP INSURANCE: If you are looking for a high sum assured for a group of 50 members and over, this particular plan might be worth a look since it comes with a minimum sum assured of Rs.10 lakhs. This particular policy is both a non-linked and non-participating term plan for groups.

    LIC Social Security Schemes:

    Plan Type Basic Sum Assured Term

    Aam Aadmi Bima Yojana

    Rs. 30,000 N.A.

    Aam Aadmi Bima Yojana: This particular plan is available under the Indian government’s initiative since 2013. It provides a cover of Rs. 30,000 for each policyholder with a contribution of Rs. 200. This subsidized product is mainly to aid rural people to get a basic insurance for initial support of their families in the policy holders absence. This product is available with basic eligibilities and documentation.

    LIC Withdrawn Plans:

    1. Fortune Plus

    2. LIC New Jeevan Suraksha-I

    3. Jeevan Vriddhi

    4. LIC Jeevan Vaibhav (Single Premium Endowment Assurance Plan)

    5. Jeevan Sugam

    6. Two Year Temporary Assurance Policy

    7. LIC Mortgage Redemption

    8. Flexi Plus

    9. CDA Endowment Vesting At 21

    10. CDA Endowment Vesting At 18

    11. Profit Plus

    12. Jeevan Varsha

    13. Child Fortune Plus

    14. The Whole Life Policy- Limited Payment

    15. Health Protection Plus

    16. Jeevan Arogya

    17. Market Plus I

    18. Jeevan Kishore

    19. Marriage Endowment

    20. Jeevan Amrit

    21. Jeevan Surabhi-25 Years

    22. Jeevan Nischay

    23. Wealth Plus

    24. Jeevan Aastha

    25. Money Plus-I

    26. Jeevan Chhaya

    27. Jeevan Surabhi-20 Years

    28. The Money Back Policy-25 Years

    29. Jeevan Saathi Plus

    30. Health Plus

    31. Samridhi Plus

    32. Pension Plus

    33. Jeevan Nidhi

    34. New Jeevan Dhara-I

    35. The Endowment Assurance Policy - Limited Payment

    36. Bima Account 1

    37. The Whole Life Policy

    38. Bima Account 2

    39. Jeevan Pramukh

    40. Jeevan Mitra(Double Cover Endowment Plan)

    41. Jeevan Bharthi-I

    42. Jeevan Surabhi-15 Years

    43. The Whole Life Policy- Single Premium

    44. Child Future Plan

    45. Jeevan Chhaya

    46. Anmol Jeevan-I

    47. New Jeevan Nidhi

    48. Jeevan Anurag

    49. Komal Jeevan

    50. Child Career Plan

    51. Jeevan Tarang

    52. VARISHTHA PENSION BIMA YOJANA

    53. Educational Annuity Plan

    54. Jeevan Saral

    55. Amulya Jeevan-I

    56. LIC's Jeevan Shagun

    57. Lic's Jeevan Shikhar

    58. Jeevan Deep

    59. Jeevan Saathi

    60. New Janaraksha Plan

    61. The Money Back Policy - 20 Years

    62. The Endowment Assurance Policy

    63. Jeevan Anand

    64. Bima Bachat

    65. Jeevan Aadhar

    66. Jeevan Vishwas

    67. Jeevan Shree-I

    68. Jeevan Ankur

    69. Endowment Plus

    70. New Bima Gold

    71. Bima Nivesh 2005

    72. Jeevan Mangal

    73. Jeevan Madhur

    74. Superannuation Plus

    75. Gratuity Plus

    76. Jeevan Mitra(Triple Cover Endowment Plan)

    How to Check Policy Status of LIC Life Insurance Policy?

    The LIC policy status can be checked on the online portal once the individual has registered their policy with the LIC online portal. It is necessary to register your policy information or even make premium payments. So, once you have registered, you can check the policy details and status by simply logging in with relevant details. If you do not have access to the Internet, simply locate the closest branch office and visit them, with your policy number in hand and an ID proof.

    LIC Life Insurance Online Payment:

    As mentioned in the last section, registration is necessary to avail this service. Online payment can be done with your netbanking details preferably but there are other options such as visitng the LIC office, phone or auto payments. Again, in this case premiums can be paid at the branch offices if that is more convenient for you. Some other banks and organizations also allow you to make the payments at their branch offices. Check the FAQs for which organizations allow this service. Phone payment at the toll free numbers are also facilitated for customers.

    LIC Life Insurance FAQ's:

    1. What are the non-term life insurance policies that LIC offers?

    A. LIC offers the following life insurance policies:

    • Single Premium Endowment Plan
    • New Endowment Plan
    • New Jeevan Anand
    • Jeevan Rakshak
    • Limited Premium Endowment Plan
    • Jeevan Lakshya
    • New Money Back Plan – 20 years
    • New Money Back Plan – 25 years
    • New Bima Bachat
    • New Children’s Money Back Plan
    • Jeevan Tarun

    2. What are the methods through which you can pay the LIC premiums?

    A. You can opt to pay the LIC Premium through net banking or phone banking.

    3. What are the documents that should be submitted at the time of applying for the policy?

    A. You must submit age proof, identity proof, address proof, PAN card and income proof documents.

    4. Are there any organisations authorised to collect LIC premium through net banking and phone banking?

    A. The authorised banks that are authorised to collect the LIC premiums are:

    • HDFC Bank
    • ICICI Bank
    • Bank of Punjab
    • UTI bank
    • Federal Bank
    • Corporation Bank
    • Citibank

    5. What are the authorised service providers of LIC? Which cities do the service providers operate from?

    A. BillJunction.com- Mumbai, Delhi, Kolkata, Chennai, Bangalore, Hyderabad, Ahmedabad and Pune.Timesofmoney.com – Mumbai, Delhi and Bangalore.BillDesk.com – Mumbai, Delhi, Kolkata, Chennai, Bangalore, Ahmedabad, Pune, Baroda and Surat.

    6. What happens if I miss paying my premium?

    A. Usually banks give a 30 day grace period to make your payment. If you don’t pay the premium in the grace period, the policy will get lapsed. If you have the choice to make it a paid up policy take it or you can revive it within a certain period. Please refer your policy document to know more on how to go about reviving your policy.

    7. Will I get a full refund if I cancel my policy in the free look period?

    A. Yes, you will get the full refund if you are cancelling the policy in the free look period.

    8. How safe is it to pay premiums through the agent?

    A. If you wish to pay the premiums through the agent, ensure that you are drawing a cheque in the name of the company and also make sure that you receive the receipt from the insurance company.

    9. How can I make a claim?

    A. You will have to fill in a claim form and contact the financial adviser from whom you got the policy. You will have to submit the relevant documents to support your claim. If the claim application is accepted, you will get a cheque in 7 working days. If the claim is rejected, then you will be receiving a letter explaining the reason for rejection.

    10. Will I be getting maturity benefits with my life insurance policies?

    A. Yes, you will get maturity benefits as defined in your plan. Refer the policy document to know

    11. Which are the other organisations authorised to collect LIC premium through net banking and phone banking?

    A. The authorised banks that are authorised to collect the LIC premiums are:

    • HDFC Bank
    • ICICI Bank
    • Bank of Punjab
    • UTI bank
    • Federal Bank
    • Corporation Bank
    • Citibank

    12. What are the documents required when applying for the policy?

    A. The most basic documents required for application of an LIC policy include:

    • Age proof
    • Identity proof
    • Address proof
    • PAN card
    • Income proof documents

    13. What happens if I don’t pay my premium on time?

    A. Usually LIC gives a 30 day grace period to make your payment. If you don’t pay the premium in the grace period, the policy will get lapsed. If you have the choice to make it a paid up policy take it or you can revive it within a certain period. Please refer your policy document to know more on how to go about reviving your policy.

    14. Do I get a full refund for cancellation of my policy in the free look period?

    A. Absolutely, you will get the full refund if you are cancelling the policy in the free look period.

    15. How to safely pay premiums through the agent?

    A. Simply make sure that you are drawing a cheque in the name of the company and also make sure that you receive the receipt from the insurance company.

    16. How can I make a claim?

    A. You will have to fill in some claim form and contact the financial adviser from whom you got the policy. You will have to submit the relevant documents to support your claim. If the claim application is accepted, you will get a cheque in 7 working days. If the claim is rejected, then you will be receiving a letter explaining the reason for rejection.

    17. Will I be getting maturity benefits with my life insurance policies?

    A. Not all policies for life insurance have maturity benefits such as certain term life insurance products and group life insurance plans. So, please refer to the policy document before going for a policy.

    18. How To Seek LIC Life Insurance Customer Service Through SMS/Text?

    A. Simply text, LICHELP followed by your policy number to 9222492224 or 56767877. You can also access details related to your policy by texting ASKLIC followed by your policy number and either of the following, to 9222492224, based on your requirement:

    • PREMIUM
    • LOAN
    • BONUS
    • REVIVAL
    • NOMINATION

    19. Where can I find application forms for LIC policy?

    A. You can find it online, or from your LIC agent or office.

    20. What is the minimum eligibility criteria?

    A. The basic eligibility criteria revolves around age, income, citizenship and documentation for LIC policies.

    News About LIC Life Insurance

    • Life Insurance Corporation Jamshedpur division ranks number 1 in premium growth

      With a 22% plus increase in the total number of premiums availed in the year, LIC Jamshedpur has now topped the list of having the highest premium growth rate in the country amongst all insurers in the country. LIC Jamshedpur experienced a Rs.390.29 crore premium, smashing their target of Rs.303 crore, a 128% increase in the premium income amount.

      20th April 2017

    • LIC doubles profit to Rs.21,000 crore from sale of stocks in FY17

      Country’s largest institutional investor, Life Insurance Corporation of India has almost recorded doubled profits from sale of equity investments in the fiscal year 2016-17. Compared to last year’s profit of Rs.11,000 crore, the life insurer has made profits of about Rs.21,000 crore in the financial year 2017. According to anonymous sources, the stock market has been achieving gains in most of the trading sessions of this financial year. This enabled LIC to book profits instead of taking new positions in listed companies, leading to higher profits. LIC has expressed interest in fixed income products as it has invested approximately Rs.1.98 trillion in them. However, the insurer has now slowed down on equity purchases as it intends to focus on increasing annuity and pension business.

      13th April 17

    • LIC appoints two more Managing Directors

      The Appointments Committee of the Cabinet has approved the appointment of Sunita Sharma and B Venugopal as MDs for up to five years or up to their superannuation date, whichever comes first. With the other two MDs, Usha Sangwan and Hemant Bhargava, the country’s biggest insurance company now has four MDs. Meanwhile, the BBB (Bank Board Bureau) recommended five executive directors and chief executives were recommended for the post of MD at five public sector banks.

      12th April 2017

    • LIC Gives Over Rs. 50 lakh Towards Scholarship Under Aam Aadmi Bima Yojana

      As a part of its month-long diamond jubilee celebrations, the Visakhapatnam division Life Insurance Corporation (LIC) recently awarded Mr. A. Tulasi Rao, chairman of Visakha Dairy, a cheque for Rs.50 lakh as the scholarship amount for children of dairy farmers falling under the Aam Aadmi Bima Yojana (AABY). This Bima Yojana, which is one of the most prominent scheme initiated by LIC, has been introduced with the objective of assisting people belonging to the weaker sections.

      5th october 2016

    • ‘Bima Diamond’ Launched to Commemorate LIC’s Diamond Jubilee

      LIC has launched a money-back plan to commemorate their diamond jubilee. Called ‘Bima Diamond’, the plan comes with a 16, 20 and 24 year policy term and is available for purchase up till 31st August, 2017.

      The plan will provide policyholders with a fixed amount of money every 4th year during the policy term.

      The plan comes with a full Sum Assured amount during the policy tenure and half the Sum Assured amount beyond the policy term.

      Auto coverage will also be available after the third policy year onwards. Personal accidental death rider and disability riders are available with this plan.

      23rd September 2016

    • LIC Eyes Bonanza Earnings From Eastern States

      The Life Insurance Corporation of India (LIC) is looking at making Rs.5,000 crore from premium earnings from the eastern parts of India for the current financial year. The company has already amassed close to Rs.2,000 crore in premiums up to August, posting 100% growth.

      The company is now targeting reaching Rs.5,000 crore by the end of the financial year.

      LIC’s pension and group schemes have contributed significantly to their earnings as well, with Rs.2,616 crore amassed through them so far.

      The spurt in revenue has also fuelled a recruitment drive to keep up with demand, with LIC adding over 40,000 new agents in the eastern sector.

      9th September 2016

    • LIC sells 2% stake in GNVFCL

      Life Insurance Corporation of India (LIC) has reduced its stake in the Gujarat Narmada Valley Fertilisers and Chemicals Ltd (GNVFCL) by selling off 2% of its stake. LIC had a total of 9.81% share in the company. After selling off 2% through an open market transaction, LIC now has a total of 7.80% stake in the company. According to a BSE filing, LIC had 31,20,693 shares of GNVFCL amounting to 2%. Taking the closing price of Wednesday, Rs.153.85 per share, the total value of the sale amounts to Rs.48 crore.

      1st September 2016

    • LIC To Soon Give A Green Signal For Aditya Birla Nuvo-Grasim Merger

      The Aditya Birla Nuvo-Grasim merger nears completion as it awaits the go to signal from the nation’s most prominent investment institution, Life Insurance corporation. While private equity investor, Ashish Dhawan, is not quite in favour of the merger, Kumar Mangalam Birla already has the support of LIC for the merger.

      On Aug 11, management of the Aditya Birla Group announced plans for restructuring of two of its listed group entities, Aditya Birla Nuvo and Grasim Industries, both of which have undergone a dip in market shares since the deal was announced. LIC’s stake stands at 4.66% in Aditya Birla Nuvo and at 6% in Grasim.

      29th August 2016

    • Criteria to Be Relaxed For New LIC Chief’s Appointment

      With the impending departure of the LIC’s new Chairman approaching, the government has announced a relaxation of the selection criteria for the post. Sources say the government could interview as many as 5 candidates for the post at India’s leading life insurance company.

      At present, the interview panel and selection criteria are being finalised, with the panel slated to include a representative from the insurance regulatory board (the IRDA) as well.

      The scramble to find a successor is due to the current Chairman tendering his resignation notice unexpectedly in June, 2 years before the end of his term.

      With the selection process expected to take a while, senior management at LIC would take over the reins until a successor is appointed.

      22nd August 2016

    • LIC and Shivalik Bank Set Up Insurance Partnership

      The Life Insurance Corporation (LIC) and the Shivalik Mercantile Co-operative bank have announced a partnership with the aim to distribute insurance products to a wide base of customers across central India.

      The bank is one of several that LIC has tied up since 2000 in an effort to expand their reach and target new customers.

      As of now, India’s biggest insurer has signed Memorandums of Understanding with 11 public sector banks, 32 co-operative banks as well as 3 private banks.

      The move will benefit Shivalik Bank, which will be expanding its Information Technology infrastructure and ground operations as part of the deal.

      The bank will be selling a number of insurance products such as car insurance, life insurance etc.

      17th August 2016

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    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    LIC Life Insurance Reviews

  • Page 1 of 50 1 2 3 4 5
    • LIC Life Insurance
      "Agents makes it happen"
      0.5 4.0/5 "Great!"
      I have been having this Life Insurance for quite a while now. They provide you with good insurance, the return promised was very good. The agent does all the job required to do. They have online payment also, which has made the task even more easier.
      Was this review helpful? 0
      , thane
      Reviewed on Nov 20, 2017
    • LIC Life Insurance
      "Average"
      0.5 3.0/5 "Satisfactory"
      I am having the life insurance policy with the Life Insurance Corporation of India and the customer service is an average one for me. I would like to say that the plan benefits are good one but they are not really transparent.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 20, 2017
    • LIC Life Insurance
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have a life insurance service from LIC I have taken six policy the payments where generally through online as well as through cheques the coverage value is generally for 25k ,50k and 50k for the period of 25 and 20 years it was a average service from LIC life insurance service.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 20, 2017
    • LIC Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have taken couple of Insurances with them, consequently they have given me a good service until now. I have been getting good Cash back until now. The payment option is pretty easy too, the agent comes to my place and collects the amount. The communication with them has been pretty easy too.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 20, 2017
    • LIC Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken a life insurance service with LIC and I have two money back policy with LIC the payments where generally through online they dont update me regarding any new schems and offers it was disappointed with LIC service the term period for life insurance service with LIC was 20 years it was a good experience with LIC for my life insurance service.
      Was this review helpful? 0
      , surat
      Reviewed on Nov 20, 2017
    • LIC Life Insurance
      "Average policy to hold"
      0.5 3.0/5 "Satisfactory"
      I have a life insurance with LIFE INSURANCE CORPORATION OF INDIA. I have been using this life insurance for the past few years and renewing it regularly without any fail. I don't remember the exact annual premium I'm paying. I feel its a waste of time to spend the money with that.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 18, 2017
    • LIC Life Insurance
      "Best policy to use"
      0.5 5.0/5 "Blown Away!"
      I hold a LIC policy from last 8 years and it is a long term policy. The tenure of this life insurance policy is 15 years. I pay a premium of Rs 19825 on annual basis through online and i am also convenient with the payment options which they are providing. I have a coverage up to Rs 5 lakhs in case of accident and Rs 2.5 lakhs for policy coverage. I am also aware of tax benefits and i have also filed IT returns.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 18, 2017
    • LIC Life Insurance
      "Satisfactory"
      0.5 4.0/5 "Great!"
      I have taken a endowment policy from LIC and the customer services are good. The tenure for my policy is for 15 years. The premium is economical and I can pay it online through net banking. The benefits and policy coverage is good. In all I have not faced any issues.
      Was this review helpful? 0
      , tiruchirapalli
      Reviewed on Nov 18, 2017
    • LIC Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 15 years and it is a money back policy. The tenure of this policy is 25 years. I pay a premium on annual basis through online, I am also convenient with the payment options which they are providing. The coverage is up to Rs 4 lakhs and i get tax benefits.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Nov 18, 2017
    • LIC Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      I have taken Money Back policy with LIC, using the service for 17 years. I am getting a proper response from the LIC. I pay premium of 744 rupees monthly. It is a tenure of 18 years. The customer service and response is good. The premium will be deducted from my salary account. After maturity I will get a good return.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 18, 2017
    • LIC Life Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      I hold a life insurance policy with LIC from last 10 years and it is a money back policy. The tenure of this policy is 20 years. I pay a premium on annual basis through cheque and they provide door step service to collect the payment. I am also convenient with the payment options. I am also satisfied with the coverage and benefits on this policy.
      Was this review helpful? 0
      , ankleshwar
      Reviewed on Nov 18, 2017
    • LIC Life Insurance
      "Life insurance cover should be increased"
      0.5 3.5/5 "Pretty good"
      I taken long term policy from LIC it around 20 years, my premium is around Rs. 5000, after the tenure period I get the sum assured value of Rs. 2 lakhs, there is no much benefits on it. Jeevan anand policy gives the life cover of Rs. 1 lakh + tax benefits.
      Was this review helpful? 0
      , noida
      Reviewed on Nov 18, 2017
    • LIC Life Insurance
      "Satisfactory"
      0.5 4.0/5 "Great!"
      My life Insurance was taken with LIC. The tenure period was 10 years and Its a long term policy . The customer service and responses which was satisfactory . Its a tax benefit and premium paid on yearly basis . I am paying online so Its comfortable and I am happy with the benefits also. My overall experience was satisfactory.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 18, 2017
    • LIC Life Insurance
      "Better"
      0.5 4.0/5 "Great!"
      I have taken Life Insurance with LIC 3 years back. I pay premium of 50K yearly for my policy. I don't remember the plan benefits and policy coverage. It is a tenure of 20 years. I prefer online payment and its convenient. I receive the statements to my email address as a soft copy.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Nov 18, 2017
    • LIC Life Insurance
      "Excellent & secured"
      0.5 5.0/5 "Blown Away!"
      I have taken another policy from LIC. It is a money back policy. The tenure is for ten years and I get the bonus every three months. LIC deposits the bonus in my account automatically without me approaching them. I also know a LIC agent he is also helpful.
      Was this review helpful? 0
      , moradabad
      Reviewed on Nov 18, 2017
    • LIC Life Insurance
      "Trustworthy"
      0.5 5.0/5 "Blown Away!"
      I have taken a policy from LIC earlier and it is a market plus policy and also a policy named Sumutri plus, though I am not very sure of the name. These two policies have given me a lot of benefits and I have completed the same as well. Without me approaching LIC I got all the benefits in my account on time.
      Was this review helpful? 0
      , moradabad
      Reviewed on Nov 18, 2017
    • LIC Life Insurance
      "Good experience"
      0.5 4.0/5 "Great!"
      I have my Life Insurance with LIC . The tenure period is 21 years and premium paid on half yearly basis. Its a long term policy and I am very convenient with the online payment here . Its a tax benefits and the coverage returns is 10,55,000. I am happy with the benefits and the policy coverage . My overall experience was good .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 18, 2017
    • LIC Life Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      I hold a LIC policy from last 10 years and it is a long term policy. The tenure of this life insurance policy is 20 years. I pay a premium on annual basis through cheque and they provide door step service to collect the cheque. I am also convenient with the payment options which they are providing. The coverage and benefits are also good in this policy.
      Was this review helpful? 0
      , kolkata
      Reviewed on Nov 18, 2017
    • LIC Life Insurance
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      LIC INSURANCE SERVICE OF INDIA service was very good I have taken one policy so far with LIFE INSURANCE CORPORATION OF INDIA and the policy I have taken was JEEVAN LAMBARD and the payment was through online the term period I have taken for 15 years it was totally a awesome experience with LIFE INSURANCE SERVICE.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 17, 2017
    • LIC Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      It was been seven years I have closed the life insurance service with LIC I have taken one policy so far with LIC for the term period of 15 years the payments will be payed directly also the staffs of LIC was good it was totally a wonderful experience with LIC for my life insurance service.
      Was this review helpful? 0
      , cuttack
      Reviewed on Nov 17, 2017
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