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Insurance Companies 3463 views November 26, 2019
About Life Insurance Corporation of India
|Name||Life Insurance Corporation of India|
|Company Tagline||Yogakshemam Vahamyaham|
|Head Quarters||Mumbai, India|
|Owner||Government of India|
|No of Products||Life Insurance, Health Insurance, Mutual Fund, Banking, Investment management|
|No. of Employees||111990|
Widely known as LIC, the Life Insurance Corporation of India is the sole public sector life insurance company existing in our country. Life Insurance Corporation of India has about 8 zonal offices and 113 divisional offices. While it has it’s headquarters in Mumbai, it is the largest insurance company in India that consists of more than 14 lakh agents and over 2000 branches all over the country. LIC India life insurance has a large number of offices in Delhi too.
The Economic Times Brand Equity Survey taken in 2012 states that Life Insurance Corporation of India is the sixth most trusted brand in India. According to a Personnel Ministry order, M. R. Kumar is appointed as the Chairman of LIC India in 2019. It is said that he will hold the position of Chairman for the next five years to come.
The prevailing motto of the company is ‘Yogakshemam Vahamyaham’ which translates to ‘ Your welfare is our responsibility.’ Among the many profound awards that Life Insurance Corporation of India has been receiving, one of the most commendable is that the company has been repeatedly winning the Reader’s Digest Trusted Brand award from 2006.
LIC claim settlement ratio is 98%, which clearly states the company’s efficiency and reliability. For Partners and Life Insurance Agents of LIC India, LIC merchant has it all.
Table of Contents
They are as follows:
Term plan offer protection at nominal costs. Maturity value is generally not paid if the insured survives until the plan ends. The plan provides high coverage at low premium rates.
Pension plans provide fulfilment to everyone’s dream of living a monetarily protected retirement life.
Child plans aim to financially provide coverage to children. These plans help parents plan as well as secure their child’s further education, monetary needs, etc.
Endowment plans offer some additional advantages as well. For example, some plans are invested in company gains whereas some plans create savings through investments in the equity market.
Whole life plan offers an amalgamation of financial protection as well as income to the insured’s beneficiaries.
Money-back plans provide life cover during the term of the policy. The maturity benefit payment is done in instalments through survival advantages every 5 years. Many of these policies also offer optional riders along with tax benefits.
Life Insurance Corporation of India established its very own e-portal that consists of repository services according to the guidelines stated by the IRDAI. This e-portal helps to provide you with quick service within just a few clicks by making all the services that were initially only available at the branch offices, now available wherever you are! LIC of India agent login requires you to select e-services and login with your username and ID. LIC of India makes it extremely easy and convenient for customers to access the company’s services through this e-portal.
LIC premium calculator is a tool provided for customers to calculate their premium online for free. Accordingly, the calculator provides information regarding the potential risk and maturity amounts. Thus, the LIC premium calculator assists the customer in ascertaining the appropriate amount he or she will be paying as premium.
One way of obtaining the premium receipt is by visiting the branch office. Another method is by downloading the receipt online. To do this, you have to first create a login account and register yourself.
After doing this, follow the given steps:
Life Insurance Corporation of India strives to give efficient personalized attention to each customer. Hence, LIC call centre service is available 24×7 on 02268276827. You can also contact the nearest customer care zones for various services, information or assistance regarding change of address, application form fillings, bonus, loans, premium points and so on.
The link below consists of customer zones along with their contact number and address:
There are two ways to check your policy status. You can either visit the nearest LIC of India branch or you can log in to the e-portal. Please note, this is available for online registered users only.
An individual between the age 20 to age 60, depending upon the type of policy or rider, who has a stable income and wishes to buy a LIC can do so.
You can check LIC status without registration through SMS facility, calling customer care or visiting the nearest branch office.
You need to first register yourself on the e-services portal, following which you will be able to download your LIC status.
You can check your vested bonus by visiting the nearest branch office or by SMS facility as well. However, to know your accrued bonus online follow the steps given below:
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