Team
Life Insurance Corporation (LIC) of India, one of the most trusted names in the Indian insurance sector, has recently introduced a set of new plans and modifications to existing policies. While these developments aim to offer more tailored solutions for policyholders, they have also sparked significant concerns among LIC agents. Issues such as reduced commission … Read more
This article presents a comprehensive comparison between two unique LIC products: LIC Index Plus and LIC Nivesh Plus Plan 749. Both the products are unit linked and non-participating, but cater to different customer preferences with respect to premium payment, investment flexibility and fund options. In this article, we will analyse the features, eligibility, benefits, charges … Read more
LIC Bima Shree Plan 748 – Following the IRDAI (Insurance Products) Regulations, 2024, along with the Master Circular on Life Insurance Products, 2024, and additional IRDAI directives, LIC has revised the Bima Shree plan. The updated version of LIC’s Bima Shree, previously Plan No. 948 (UIN: 512N316V02), is now assigned Plan No. 748 with a … Read more
LIC Jeevan Tarun Plan 734 – Life Insurance Corporation of India (LIC) recently introduced a modified version of its Jeevan Tarun Plan, providing a flexible savings and life insurance option aimed at securing the financial needs of children, especially for educational purposes. The following article explains the features, benefits, eligibility, and options under LIC Jeevan … Read more
In alignment with the IRDAI (Insurance Products) Regulations, 2024, and the IRDAI Master Circular on Life Insurance Products, the Life Insurance Corporation of India (LIC) has introduced a revised version of its New Money Back Plan-20 Years. The previous plan, identified as Plan No. 920 with Unique Identification Number (UIN) 512N280V02, has been officially withdrawn … Read more
Upcoming LIC Plan on November 18 – The Life Insurance Corporation of India (LIC) is set to launch a new suite of revised and modified insurance plans on November 18, aimed at offering customers a wider array of choices and improved benefits. Following the changes introduced in October 2024, LIC continues its push to meet … Read more
GST Removal – In a significant development aimed at making life and health insurance policies more affordable, the Indian government is considering a proposal to remove the Goods and Services Tax (GST) on these insurance premiums. This move is expected to provide much-needed financial relief to policyholders, especially for those who find the high premiums … Read more
In a groundbreaking move, the Life Insurance Corporation of India (LIC) has implemented a trail initiative in the Moradabad district of Uttar Pradesh, offering premium refunds with interest to policyholders who could not maintain their policy payments beyond the initial installment. Traditionally, policyholders who ceased paying premiums before three years were not eligible for refunds, … Read more
In a rapidly evolving financial landscape, LIC (Life Insurance Corporation of India) has announced plans to establish partnerships with companies from two dynamic sectors: Fintech and E-commerce. This strategy, introduced by LIC’s leadership, highlights a broader vision of expanding LIC’s insurance services to reach every household by 2047. This move brings potential opportunities and inevitable … Read more
In a recent press release dated November 8, 2024, LIC presented its half-yearly performance update for the fiscal year ending September 30, 2024. LIC latest financial and operational milestones demonstrate a substantial growth trajectory across multiple metrics, underscoring its position as a dominant player in the insurance sector. This report provides a detailed look into … Read more