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Life Insurance 7817 views November 26, 2019
Table of Contents
|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 and 113 divisional offices. It has its headquarters in Mumbai and is the largest insurance company in India with 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’. 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.
LIC offers a myriad of life insurance plans that provide a basic life cover in the event of insured’s death. Some of these plans ensure extra in the form of investment benefits. You can check these plans as follows –
Term plan offers protection at nominal costs. The 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 provide financial 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 policy term. 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. You can avail these services in a few clicks. 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.
You can apply for LIC policy online by visiting the insurance company’s official website and filling the application form with the following information –
After mentioning these details, agree to the terms and conditions of the insurance company and click on the ‘Submit’ button to complete the transaction.
LIC premium calculator is a tool that helps you calculate your 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.
Paying the LIC premium online is easy. All you need to do is visit the website of LIC and follow the steps shown below.
Pay Direct (Without Login) Steps
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 need 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. 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.
LIC Policy Status Enquiry?
There are two ways to check your policy status. You can either visit the nearest LIC of India branch or log in to the e-portal. Please note that this is available for registered users only.
Who can buy a policy?
An individual between the age of 20 to 60 years and having a stable income can buy the LIC policy.
How to check LIC status without registration?
You can check LIC status without registration through SMS facility, calling the 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 using the SMS facility. However, to know your accrued bonus online, follow the steps given below:
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