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Insurance Companies 5487 views November 26, 2019
Table of Contents
About Life Insurance Corporation of India (LIC)
| Name | Life Insurance Corporation of India |
| Company Tagline | Yogakshemam Vahamyaham |
| Founded | 1956 |
| Type | Statutory Corporation |
| Head Quarters | Mumbai, India |
| Owner | Government of India |
| No of Products | Life Insurance, Health Insurance, Mutual Fund, Banking, Investment management |
| No. of Employees | 111990 |
| Total Assets | US$451Billion |
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.
Life Insurance Corporation of India (LIC) Plans
LIC Term Plans
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.
LIC Pension Plans
Pension plans provide fulfilment to everyone’s dream of living a monetarily protected retirement life.
LIC Child Plans
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.
LIC Endowment Plans
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.
- LIC Jeevan Pragati Plan
- LIC Jeevan Labh Plan
- LIC Single Premium Endowment Plan
- LIC New Endowment Plan
- LIC New Jeevan Anand Plan
- LIC Jeevan Rakshak Plan
- LIC Limited Premium Endowment Plan
- LIC Jeevan Lakshya Plan
- LIC Aadhaar Shila Plan
- LIC Aadhaar Stambh Plan
- LIC Jeevan Utkarsh Plan
LIC Whole Life Plan
Whole life plan offers an amalgamation of financial protection as well as income to the insured’s beneficiaries.
LIC Money Back Plans
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.
- LIC Bima Diamond Plan
- LIC New Money Back Plan- 20 years
- LIC New Money Back Plan- 25 years
- LIC New Bima Bachat Plan
- LIC Jeevan Tarun Plan
- LIC Jeevan Shiromani Plan
LIC e-portal Service
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
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.
How to Download LIC Premium Receipt?
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:
- Visit the LIC homepage
- Under ‘Online Services’, click on ‘LIC e-services’
- Select ‘Registered user’
- Enter your user ID and password
- Click on submit
- You will be directed to LIC e-services welcome page
- Click on any of the two options: ‘Consolidated Premium Paid Statement’ or ‘Individual Policy Premium Paid Statement’
- Select the financial year and if required select policy number
- You will now be able to download the PDF version of your LIC premium receipt.
LIC Customer Care
Life Insurance Corporation of India strives to give efficient personalized attention to each customer. Hence, LIC call centre service is available 24×7 on 022-68276827. 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.
FAQs
LIC Policy Status Enquiry?
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.
Who can buy a policy?
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.
How to check LIC status without registration?
You can check LIC status without registration through SMS facility, calling customer care or visiting the nearest branch office.
How to download LIC status without registration?
You need to first register yourself on the e-services portal, following which you will be able to download your LIC status.
How to check the vested bonus in LIC?
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:
- Create your online account with LIC website and register yourself
- Login to your e-services account online
- Click on the policy status option
- Click on the ‘vested bonus’ link
- The screen will display the bonus you have accumulated for that specific LIC policy