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Best LIC Policy-Plans List

Investing in LIC policies helps people save on tax, but there are better ways of saving tax like the Public Provident Fund (PPF). ... As far as an insurance cover is concerned, individuals can look at buying a pure term insurance policy, which just offers insurance against the premium paid.

Services Accessible through LIC e-Services:

Policyholders who avail the e-services from LIC can take advantage of the following online facilities:

Benefits Of LIC

Death Benefit:

a) On death during the policy term before the date of commencement of risk: Return of single premium excluding service tax and extra premium, if any, without interest.
b) On death during the policy term after the date of commencement of risk: Sum Assured along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any.

Maturity Benefit:

Sum Assured, along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable.
Participation in profits: The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation.
Final (Additional) Bonus may also be declared under the policy in the year when the policy results into a claim either by death or maturity on such terms and conditions as may be declared by the Corporation from time to time.

Before Buying Life Insurance from Other Private companies in India Please read the following:


Positions:

Largest insurance Company in the world in Customer Base (25 Cr customers) & 30 Cr Policies
No.1 insurance company in the world in terms of agency (about 1.2 Million agents)
LIC is No.1 insurer in the world in Volume & Sold around 3.57 Cr.Policies in 2011-2012.
2nd Biggest Real Estate Owner next to Indian Railways.
LIC is one of the Highest income tax playing Organization. For Financial Year 2012-13, LIC has paid advance Tax Rs.2627. 14 Cr. & Service Tax Rs.1297. 15 Cr.
Has Highest insurance Professionals ( Club Member agents )
Only 4 countries in the world have more population that LIC`s policy holders.

Award - Recognition

Adjudged "The most trusted service Brand" in India, by "Economic Times and AC NEILSEN ORG MARG" for the year 2007 for the 5th consecutive year.
"Golden Peacock" award for Excellence in "Corporate Governance"
LIC adjudged as "Best life insurance Company of the year" at the "2nd"NDTV Profit Business Leadership Awards-2007.
LIC adjudged the "Most Preferred Life insurance Company of the year" at the "CNBC AWAAZ" consumer award 2007 for 3rd time in succession.
Awarded Reader Digest's "Trusted Brand"2006,2007&2008 (Voted by Consumers)
"Outlook Money NDTV Profit Award 2007"
"Web 18-Genius of the web Award" Conferred for the best website in insurance Category
"SKOCH Challengers Award 2008" for "Jeevan Madhur".
"Loyalty Awards 2008"- insurance Sector.
Double crown for LIC in Corporate Olympics 2008, Most Sporting Corporate 2) Corporate Championship Award Winner-2008

Honouring of the Commitment - Settlement of Claims

No.1 insurance Company in the world in terms of claims paid.
LIC Settles 2.64 claims per second, LIC settled 183.63 lakhs claims during the year 2012-2013.
Prompt settlement of claims (97% maturity claim settled on or before due date)
One of the Lowest outstanding Claim Ratio in the world ( Maturity+S B Claim-0.50%)

People's Money for People's Welfare

LIC invested a total of Rs 8,19,835 Cr & in infrastructure sector is Rs. 41,067 Cr in financial yr 2011-12
In socially oriented sector like water, drainage & housing etc, LIC has invested Rs.5,635 crores during 2011-12 & total investment in this sector is Rs. 1,64,162 Cr.
Total investment in Social Sector Rs.89,000 Cr.
Different incentive schemes for villages, Schools and Banks under Bima Gram, Bima School and Bima Banks.
Total investment in Nation Building Activities is Rs 6,55,673 Cr in financial yr 2011-12

LIC Best Plans

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News & Updates

LIC Housing eyes to disburse Rs 55,000 crore in FY 19-20

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LIC chief on investing, growth, ULIPs, IDBI Bank merger & more

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Hidden gems: LIC’s favourite stocks that posted over 50% Q2 profit growth

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LIC allows revival of lapsed policy of over 2 years

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