Life Insurance Corporation of India (LIC of India) is a leading life insurance company based in Mumbai. LIC is the largest life insurance company in India with a presence on 2,529,390 crores. LIC of India was founded on September 1, 1956, when the Indian government approved India’s life insurance to expropriate the private insurance sector in India.

The company was formed by the merger of more than 245 insurance companies and pension companies. The LIC offers a wide range of life insurance schemes, including a series of ULIP, retirement plans, child plans, long-term insurance and more.

The company was established firmly in the urban and rural areas of India: “Yogakshemam Vahamyaham”. With the advent of technology, the LIC of India has determined the existence of its own online brand by selling a series of savings and investment products over the Internet.

The mission of the LIC of India is to improve the quality of life of people by providing financial products and services that provide competitive returns.

LIC Of India

LIC Of India Objective & Mission

LIC Of India was established as a result of a national movement to provide the least basic and diverse coverage for the citizens of our country to at least bring their wealth to the crisis.

By paying a nominal monthly premium, citizens benefited from life insurance, so that they would continue to receive adequate care if their employees disappeared.

The purpose of LIC is to ensure that:

  • The main objective of the Indian LIC is to spread the importance of life insurance in rural areas and socially and economically backward class people. The Company is seeking financial security at a reasonable cost.
  • Maximize your savings by offering a wide range of life insurance products to choose from.
  • LIC of India fully encourages its employees and LIC representatives to participate and participate in their business objectives to help them achieve their business goals.

Also read: Top 5 Term Insurance Plans In India

Products Offered by LIC of India:

LIC Of India is synonymous with life insurance, as it is a pioneer in providing the best life insurance products to suit every budget and choice. Regardless of the life / person phase, the Indian LIC offers a variety of life insurance policies with appropriate premiums. As a state life insurance company, the plans offered by LIC are always requested and are intended for a wide variety of customers.

Here you will find the Life Insurance Corporation’s various life insurance products.

LIC Endowment Plans:

List Of LIC Endowment plans

  • LIC Single Premium Endowment Plan
  • LIC New Endowment Plan
  • LIC’s New Endowment Plus
  • LIC’s New Jeevan Rakshak
  • LIC’s Limited Premium Endowment Plan
  • New Jeevan Anand
  • LIC’s Jeevan Labh
  • LIC’s Jeevan Pragati
  • New Jeevan Lakshya

LIC Term Assurance Plans:

List Of LIC Term Assurance plans:

  • LIC’s Anmol Jeevan II
  • LIC’s Amulya Jeevan II
  • LIC’s e-Term

LIC Money Back Plans:

List Of LIC of india Money back plans:

  • LIC New Money Back Plan – 20 Years
  • LIC New Money Back Plan – 25 Years
  • LIC New Bima Bachat Plan
  • LIC’s Bima Diamond
  • LIC’s Jeevan Tarun
  • LIC New Children’s Money Back Plan

Also read: Top 10 life insurance companies In India

LIC Pension Plans:

List Of LIC of India pension plans

  • LIC’s New Jeevan Nidhi
  • Jeevan Akshay-VI

LIC Group Plans:

List Of LIC Group Insurance plan:

  • LIC’s Group Credit Life Insurance
  • LIC’s SINGLE PREMIUM GROUP INSURANCE
  • LIC’s New Group Leave Encashment Plan
  • LIC’s NEW ONE YEAR RENEWABLE GROUP TERM ASSURANCE PLAN I
  • LIC’s NEW ONE YEAR RENEWABLE GROUP TERM ASSURANCE PLAN II
  • LIC’s New Group Gratuity Cash Accumulation Plan
  • LIC’s New Group Superannuation Cash Accumulation Plan

LIC Health Plan:

List of LIC Health insurance plan

  • LIC Jeevan Arogya
  • LIC’s Cancer Cover

LIC Of India FAQ’s:

Which policy is best in LIC of India?

Best LIC of India policy is:
1) LIC e-term Insurance
2) LIC New Children’s Money Back Plan
3) LIC Jeevan Anand
4) LIC Jeevan Saral

What is the purpose of LIC?

LIC Goal The main purpose of the Indian Life Insurance Company is to provide life insurance for each department and to reach rural areas by providing comprehensive funding in case of death at a very reasonable price.

How can I download LIC premium statement?

Step to download LIC premium statement:
Step 1: Register online for LIC e-services.
Step 2: Search the e-service portal.
Step 3: Go to the basic services.
Step 4: Go to Policy Premium Paid Notice.
Step 5: Select paid premium education policies.
Step 6: Create a premium certificate

Is LIC is government or private?

Yes, LIC is government insurance company.

What is LIC and its benefits?

Features and benefits One-time premium insurance LIC offers some special features. In the context of political duty, the death allowance is a bonus. If the insured person expires or dies, a simple recycled bonus is required. The large amount insured is available in this program.

How can I take loan from LIC policy?

The LIC grants a credit up to 90% of the buy back value (85% for paid policies). The minimum period for a loan under the LIC Directive is 6 months. For long-term loans, the applicant must pay 6 EMI before paying the loan in advance.

What is LIC maturity?

Guaranteed amount and expiry value. The insurance price is the amount of money guaranteed before bonuses are added. In other words, the guaranteed quantity is the guaranteed amount. This is also known as security or collateral and is the total amount you are insured.

Can we cancel LIC policy?

LIC policies can be sent in cash after paying at least 3 years of prizes. If the policies are terminated before the payment of at least 3 years of premium, no refund value is available. However, ask the contractors not to return or cancel the life insurance.

How can I revive my LIC policy?

In order to restore the expired policy, all outstanding premiums of the policy must be paid together with the interest that must be paid. The revitalization penalty can be taken over the amount of animation, or when the policy expires.

Can NRI get LIC rules from India?

Yes, NRIs residing abroad and people residing in India can receive life insurance from LIC.

Can the EMI LIC credit be paid online?

Yes, you can pay the EMI of your LIC of India online via the electronic service portal.

How can I close my LIC policy?

You can only cancel the transfer of your LIC of India policy after paying at least 2-3 years of premium. help


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