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LIC Jeevan Umang 745 vs LIC Jeevan Utsav 771 – Life Insurance Corporation (LIC) offers two popular income-generating plans designed to provide guaranteed income, flexibility, and robust coverage options—LIC Jeevan Umang 745 and LIC Jeevan Utsav 771. These plans cater to different customer needs, particularly in terms of policy term, premium payment flexibility, entry age, … Read more
A recent development has sparked considerable controversy within India’s insurance industry, particularly affecting the relationship between the Life Insurance Corporation of India (LIC) and its insurance advisors, represented by the Life Insurance Agents Federation of India (LIAFI). One prominent LIAFI leader has made a series of serious allegations, warnings, and demands against LIC. This article … Read more
In a recent movement led by LIC agents, a message urging “LIC Bachao, LIC Agent Bachao, Customer Bachao” was widely circulated, advising agents to directly contact top officials in LIC’s management with their grievances. This article examines the events surrounding this protest, where agents, frustrated with unaddressed issues, bypassed traditional communication channels and reached out … Read more
LIC Jeevan Utsav Plan 771 – As of October 1, 2024, the Life Insurance Corporation of India (LIC) re-launched its popular Jeevan Utsav Plan with the updated plan number 771, introducing a range of benefits designed to offer policyholders comprehensive and lifetime insurance coverage. The LIC Jeevan Utsav Plan 771 addresses the essential need for … Read more
On October 14, 2024, LIC launched its revised Bima Jyoti Plan, (Plan No. 760). This policy, a non-linked, non-participating, limited premium paying plan, comes with enhanced guaranteed additions and life insurance coverage. Below, we explore the key features, eligibility criteria, benefits, modifications, and more. Also see: Which upcoming LIC plan will be launched on 18th … Read more
Why LIC Agents are Strike – The recent strike called by Life Insurance Corporation (LIC) agents across India has stirred considerable attention and concern in the financial and insurance sectors. Represented by the Life Insurance Agents Federation of India (LIAFI), LIC agents are demanding reforms that they believe are crucial for their financial stability and … Read more
LIC New Jeevan Anand Plan 715, launched on 1st October 2024, is a non-linked, participating, life insurance plan designed for individual savings with a blend of protection. This plan is a modified version of its predecessor (Plan No. 915), with several new features aimed at enhancing family security and long-term benefits. Known for its slogan … Read more
LIC agents on strike over 7 demands – As of 1 October 2024, the Indian life insurance sector has seen a wave of regulatory changes, primarily driven by the Insurance Regulatory and Development Authority of India (IRDAI). LIC of India, the country’s largest life insurer, has implemented several modifications in line with these new norms. … Read more
The Life Insurance Corporation of India (LIC) has always considered its agents the backbone of the company, responsible for the bulk of its business generation. However, recent changes implemented by LIC regarding the restructuring of commission and the introduction of a clawback clause have sparked widespread discontent among agents. On 14th October 2024, the All … Read more
On October 7, 2024, Life Insurance Corporation of India (LIC) introduced a new insurance offering, the Single Premium Group Micro Term Insurance Plan. This plan is designed as a non-participating, non-linked, group, pure risk, micro life insurance product. It specifically targets financial institutions like microfinance entities, co-operative societies, self-help groups, NGOs, and other unorganised and … Read more