LIC Full Form
Life Insurance Corporation of IndiaDear Mates, welcome to FullFormsDetailed, Today's topic is LIC full form. If you have ever heard the name of life insurance, then you must have heard another name with it and that name is "LIC". This name is heard every time we try to gather information about life insurance. Because LIC is the largest and most reliable company providing life insurance in India. Today, along with knowing the LIC Full Form, we will know the answers to all the questions related to it, which we should know from the point of view of general knowledge. You will find this information in our today's post. It's necessary to have the knowledge of LIC. So let's start LIC full form.
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| LIC Full Form |
History/Introduction of LIC
LIC was made on first September 1956 with the merger of in excess of 245 insurance agencies and fortunate social orders. It was framed under a demonstration of the parliament viz. LIC Act yr 1956 with an underlying capital of Rupees 5 Crores from the Government of India.Who is the CEO of LIC?
The government designated M R Kumar as the Chairman of Life Insurance Corporation (LIC) and Vipin Anand and T C Suseel Kumar as the overseeing executives (MD's) on March 13.
Is LIC a government or private?
Govt taking 5% of all out benefit cash every year from LIC against 5 crore given on 1956 yet from some other organization. It implies LIC is a govt associations and it's controlled by govt of India.
Who is chairman in charge & managing director of LIC of India?
Mr. T C Suseel Kumar & Mr. Vipin Anand have been named as Managing Directors (MD's) of LIC for a long time. Mr. Suseel Kumar is Zonal Manager (in-control), LIC South Central Zone.
How many LIC agents are there in India?
The all out no. of Agents on our Roll is 11,48,811 as on dated 31.03.2018 as against 11,31,181 as on dated 31.03.2017. Quantity of Active Agents is 10,71,945 as on dated 31.03.2018 when contrasted with 10,46,484 as on dated 31.03.2017.
How many employees does LIC have in India?
1,11,979
Is LIC central government job?
No, it's not legitimately a focal government post. LIC is a Government of India undertaking like nationalized banks.
How does LIC make money?
Presently with the cash given as a premium to LIC, LIC puts that cash in different venture instruments like essential value markets, optional markets, corporate securities, debentures, govt securities and at times purchases up proprietorship in organizations eg; LIC holds a measure of offer rate in India's biggest aggregate ITC.
LIC Agent Login
How do we log into our LIC agents portal?A. If we registered on LIC Portal, then Click/tap on e Services - login with our user id & password.
B. If we are not registered on LIC Portal:- Visit www.licindia.in, click/tap on the tab 'new User', select/choose our own user id & password and provide all the necessary information.
How can we become a LIC agent?
Qualification: we should be over 18 years and finished tenth class.
Technique: contact to our closest LIC office and meet the Development official there. After that we will confront the meeting and if they discovered we are the ideal for the activity
Test: Insurance Regulatory and Development Authority of India (IRDA) Exam, LIC operators are chosen through IRDA Exam.
LIC App
Which app is best for LIC?LEADER is likewise a standout amongst other Android App for lic plot adding machine. Pioneer is useful for INSURANCE Agents and Development Officers. Pioneer encourages us to follow all our LIC Policy Details in disconnected mode or in online mode and sort these LIC Policy Details as per our necessities.
Is there any app for LIC?
There are three applications accessible on the Google Play Store and Apple's App Store - LIC Customer, LIC Pay Direct, and My LIC. LIC Customer application: By utilizing this application, one can make installments either utilizing pay direct choice or by enrolling.
LIC Assistant
What does a LIC assistant do?LIC HFL Assistant Job Description: LIC HFL (LIC Housing Finance Limited) Assistants' activity is, fundamentally, administrative in nature – they help in keeping up accounts and sit at the money counter. They perform different exercises and errands as doled out by their chief or director. They additionally back office undertakings and help senior officials.
How is life of LIC assistant?
As LIC Assistant you pull back an essential pay of Rs 14435 every month. The compensation will be given to you on the size of 14435-840-15275-915-17105-1030-22255-1195-24645-1455-29010-1510-32030-1610-40080. In this manner the complete gross compensation for LIC Assistant is Rs. 30,000 every month.
LIC Branch Address
Checkout👉 LIC Branch AddressLIC Best Policy
Which policies of LIC are closing?The LIC plans which will be shut incorporate unit-connected obligation protection plans, one rider plan, non-connected obligation protection plans, and three non-connected gathering protection plans. LIC Live Incorporation Plan.
Are LIC policies good?
No, LIC is insurance product, not great returns contrasted with other safe alternative. Let us comprehend with a model. I have attempted to think about LIC's Jeevan Anand (protection blended in with speculation) case with a PPF+LIC' e-term (protection isolated with venture) . You will get equivalent tax breaks in the two cases.
LIC Bonus
How does LIC calculate bonus?The most effective method to compute LIC Bonus. You are presently mindful that LIC announces rewards according to a great many whole guaranteed. To ascertain reward, you need to separate your whole guaranteed sum by thousand (1000) and afterward increase it by the given extra rates for that year (You will get the most recent extra rates in next area).
How much is final additional bonus in LIC?
It is proclaimed at the pace of per 1000 of aggregate guaranteed for a specific strategy term each year and this rate is relevant to such arrangements which are coming to guarantee because of death of approach holder or consummation of approach term for example development. All in all, it is pertinent simply after culmination of 5 strategy years.
Can we withdraw LIC bonus?
A standard premium approach will be qualified for giving up after the policyholder has paid the premiums consistently for a long time. By giving up LIC strategy, you may not be in benefit as they pay you some piece of the complete collected reward and the top notch you paid.
How is LIC Premium Calculated?
➤ Month to month Premium Rs.5,000➤ Quarterly Premium Rs.14,500
➤ Half-Yearly Premium Rs.29,250
➤ Yearly Premium Rs.58,500
LIC Credit Card
How can we get LIC credit card?A LIC client can apply for the charge card by visiting the LIC office.
Before applying for a charge card, look at credit card alternatives and select which card to apply for from among the ones that are accessible.
Can we pay our life insurance premium with a credit card?
In any case, numerous life coverage organizations will permit you to pay your underlying premium installment on a credit card, however future installments must be done by means of electronic finances move from your ledger. This implies you can pay your whole first year of extra security premiums on a charge card.
LIC Career
Checkout👉 LIC CareerLIC Customer Care
➹LIC Call Centre Service no. 022 6827 6827➹Toll free no. 18004259876
LIC Customer Login
Checkout👉 LIC Customer CareLIC Maturity Discharge Form
How can we fill LIC maturity discharge?Documents required while recording LIC development Claim structures on the web. It would be ideal if you present our Discharged Receipt in Form No. 3825 with unique strategy report in any event one month before the due date so the installment is gotten before the due date of development guarantee.
Which documents are required for LIC maturity claim?
1) Original LIC Policy Document
2) Identity Proof
3) Age Proof (if not submitted already)
4) Cancelled Check leaf or a duplicate of the Policy holder's Bank Passbook
5) NEFT Mandate Form (to move the development continues legitimately to the policyholder's record)
6) Assignment/Reassignment (assuming any)
What is date of maturity in LIC policy?
A maturity advantage is a singular amount sum the insurance agency pays you after the development of protection strategy. This basically implies if your protection approach is for a term of 15 years, you, the guaranteed, will get a compensation out after these 15 years.
LIC Development Officer
How can we become a LIC development officer?Age Limits: The candidates ought to have finished the age of 21 years on the first July of the time of assessment. Instructive Qualification: The candidates should hold a Bachelor's Degree in Arts/Science/Commerce/Agriculture/Law, of an Indian or Foreign University, or have an identical capability.
What is the role of development officer in LIC?
The duty of these Development Officers of LIC of India is for the most part to take the responsible for their domain for the advancement of protection approaches. Their duties incorporate advertising and acquirement of business, preparing of specialists, meeting imminent customers, advancing the approaches and getting contracts.
LIC Exam
Will LIC conduct AAO exam in 2020?LIC AAO 2020 test date for PC based online test is required to be led in the fourth seven day stretch of April 2020.
Is LIC AAO exam conducted every year?
The recruitment procedure of Assistant Audit Officer (AAO) under LIC tests isn't led every year except relies upon the prerequisite of work force in the organization. As of late, LIC discharged a notice to select 590 qualified contender to fill in the AAO posts for the year 2019. The 2020 warning is yet to be discharged.
What is the starting salary of LIC AAO?
This implies the underlying Basic Pay of LIC AAO is Rs 32,795 every month. There is a yearly addition of Rs 1,610 for the following 14 years. Fundamental Pay following 14 years will be Rs 55,335. At that point there will be a yearly augmentation of Rs 1,745 for the following 4 years.LIC E-Term Plan
What is LIC E term plan?LIC e-Term Plan. A term protection strategy goes about as a gatekeeper for the family in the unexpected destruction of the policyholder. LIC e-Term plan is an unadulterated protection strategy, which implies that it offers Death Benefit just, for example the installment of the pre-decided total guaranteed to the recipient on the policyholder's passing.
Is LIC E term plan good?
The e-Term plan from LIC is about 35% less expensive than the LIC disconnected term plan, however marginally costlier than most online unadulterated assurance contributions from privately owned businesses. Be that as it may, given the gigantic brand value of LIC, the e-Term plan is probably going to turn into the favored decision for most protection purchasers.
Which is the best term insurance plan in LIC?
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LIC Policies
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Plan Type
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Policy Term
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LIC e-term Insurance
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Pure Term Plan
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10 - 35 yrs.
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LIC New Children's Money Back Plan
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Traditional Money Back Child Plan
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25 - entry age
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LIC Jeevan Anand
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Participating Traditional Endowment
Plan
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15 - 35 yrs.
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LIC Jeevan Saral
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Endowment Plan
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10 - 35 yrs.
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LIC Jeevan Akshay
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LIC Jeevan Saral
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30 - 85 yrs.
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Does LIC E term covers accidental death?
Truly, term protection pays if there should arise an occurrence of a unintentional passing. The whole guaranteed or spread taken under the term plan will pay the case if the demise has happened because of any explanation, be it characteristic or unplanned passing, or passing because of some sickness.
What is LIC pension plan?
The LIC pension plan is an Immediate Annuity plan where benefits will be paid quickly following the installment of the Single Premium. The annuity can be picked to be payable to a solitary life, that of the annuitant himself or to a joint life which is the annuitant and his life partner until the last one kicks the bucket.🔗Best Pension Plan in LIC
LIC Housing Finance
LIC Housing Finance is main Housing Finance Mortgage credit organizations in India having it's Registered & Corporate office placed at Mumbai, India. Life coverage CORPORATION OF INDIA holds originator, advertiser and controller status. LIC HFL is partner/auxiliary organization of LIC of India. LIC HFL Company since 1989.Is LIC Housing Finance a govt company?
LIC HOUSING FINANCE LTD. It's anything but an unadulterated government organization and not an unadulterated privately owned business. Its organizer, advertiser and controller is Life Insurance Corporation Of INDIA.
LIC Housing Finance FD Interest Rates 2020
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Tenure
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FD Rates
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Senior Citizen FD Rates
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1 year
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7.50%
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7.75%
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1 year 6 months
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7.50%
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7.75%
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2 years
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7.55%
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7.80%
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3 years
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7.60%
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7.85%
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5 years
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7.60%
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7.85%
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What is the interest rate of LIC?
At present, the loan costs offered ranges from 7.50% to 7.95% on every single individual store. There are adaptable residency alternatives that a client can look over. The residency ranges from at least 1 year to a limit of 5 years. The intrigue is payable and aggravated every year.
How many years FD will double in LIC?
For deposits below Rs. 20 crore, LIC HFL gives 7.60% pace important to FD developing in 3 and 5 years, both. To the extent stores over Rs. 20 crore are concerned, the organization gives 7.65% FD financing cost for stores developing in 3 and 5 years.
What is GST on LIC policy?
For single premium strategy or blessing protection plan, GST for first year premium sum has been expanded from 3.75% to 4.5%. Hence, for reestablishment premiums, it will be split of the main year rate, which is 2.25%.What is the share price of government in LIC?
At present, the legislature claims the whole 100 percent stake in LIC and as indicated by showcase specialists, the organization can be esteemed at around Rs 8-10 lakh croreLIC Group Gratuity
What is group gratuity scheme of LIC?LIC New Group Gratuity Cash Accumulation Plan. This gathering plan is a non-supporting and non-connected arrangement that assists businesses with giving tip advantages to the workers. Being a reserve based variable protection plan, it likewise offers a real existence spread to the workers.
How is LIC gratuity calculated?
Gratuity is determined dependent on the date of joining and the last date in administration. The measure of tip is equivalent to 15 days pay (last drawn compensation) for every time of administration.
LIC Home Loan
Is LIC good for home loan?LIC Housing Finance offers serious home credit rates with the best EMI of ? 741 for each lakh benefited at a low-financing cost of 8.10% for a greatest residency of 30 years.
What documents are needed for home loan in LIC?
☑ Properly filled in home advance application structure
☑ Evidence of Identity, for example, Aadhaar Card, PAN Card, Voter's ID Card or Passport
☑ Evidence of Residence, for example, Passport, Ration Card, Electricity Bill or Telephone Bill
☑ Bank Passbook or financial balance explanations of most recent two years
☑ Power of Attorney, wherever applicable
🔗LIC Home Loan Interest Rate
Is LIC Safe?
LIC is certainly one of the sheltered instrument for long haul reserve funds . Keep in mind 'Essential target' here is reserve funds. Tax break, Risk Cover, credit accessibility and so forth are included focal points.LIC Head Office
Checkout👉 LIC Head OfficeLIC IPO
Among the greatest shocks of Union Budget 2020 was the proposed Initial Public Offering (IPO) of Life Insurance Corporation of India (LIC). With a Rs 30.5 lakh crore asset report as of FY19, even a 25 percent stake deal by the legislature will mean a guard posting.How do we purchase an IPO?
In the event that you need to buy stock at the IPO or a while later, register with a stockbroker and wire assets to your money market fund. At the point when the IPO happens, call your intermediary or go on the web, enter the stock image of the organization and buy the measure of offers you need.
LIC Jeevan Saral
What is LIC Jeevan Saral?It is essentially an Endowment Assurance plan under which the proposer has just to pick the sum and method of premium installment. The arrangement turns out with the needful monetary insurance bolster demise all through the term of the arrangement. The demise advantage is legitimately identified with the premiums paid.
What is the benefit of Jeevan Saral LIC policy?
LIC Jeevan Saral is an uncommon sort of gift plan from LIC. The arrangement offers different advantages like adaptability in picking the superior, residency of the strategy, tax cuts, steadfastness increments, different riders and is focused on speculators who might want to get ensured comes back from their venture.
LIC Jeevan Umang
What is LIC Jeevan Umang policy?LIC's Jeevan Umang plan offers a blend of pay and security to your family. This arrangement accommodates yearly endurance profits by the finish of the premium paying term till development and a singular amount installment at the hour of development or on death of the policyholder during the approach term.
Is Jeevan Umang good policy?
Death benefit: if there should arise an occurrence of death of life guaranteed before the hazard initiation date, LIC will restore all the premiums paid without enthusiasm to the chosen one. Be that as it may, if the policyholder endures a passing after the hazard initiation date, LIC will offer the entirety guaranteed to the chosen one.
LIC Jeevan Anand
Is LIC Jeevan Anand a good policy?New Jeevan Anand Plan is extraordinary compared to other arrangement in LIC, which offers an appealing blend of assurance and investment funds. This arrangement keeps on giving inclusion till the passing of the guaranteed significantly after the development of the arrangement. This arrangement is blend of both Endowment Plan and Whole Life Plan.
What is the advantages of Jeevan Anand LIC policy?
The Jeevan Anand policy offers reward office. This is a kind of Double Death Benefit Plan that ensures created favorable circumstances if the safeguarded individual gets by till the finish of the development date. This course of action includes high prize rate, ordinary premium and even sensational liquidity highlights.
LIC Jeevan Akshay
What is Jeevan Akshay plan?LIC Jeevan Akshay is an Immediate Annuity plan offered by Indian Life protection and speculation organization Life Insurance Corporation of India (LIC). It is a solitary premium arrangement and must be bought by paying a lumpsum sum without a moment's delay. The annuity can be paid month to month, quarterly, twice per year or every year as picked.
Is LIC Jeevan Akshay a good policy?
All things considered, the LIC Jeevan Akshay VI Plan is doubtlessly a decent arrangement for it originates from one of the most rumored insurance agencies of India, LIC. Aside from its validity, it offers a few advantages, for example, uniform annuity plans, single amount installments, charge derivations, and so on.
What is LIC annuity plan?
It is a solitary premium strategy and must be bought by paying a lumpsum sum without a moment's delay. The annuity can be paid month to month, quarterly, twice per year or every year as picked.LIC Mutual Fund
What is LIC Mutual Fund?LIC Mutual Fund. One of the most perceived and believed players in the benefit the board showcase, LIC Mutual Fund is a partner organization of Life Insurance Corporation of India. Clients can likewise profit tax cuts from LIC MF Tax Plans, the two of which are Equity Linked Savings Scheme (ELSS) based speculation choices.
Is LIC Mutual Fund good?
LIC Nomura G-Sec Long-term Exchange Traded Fund is the ETF offered by the organization. These assets are considered as a substitute for momentary assets. These assets are a decent choice since speculations are made in the generally safe market that has almost zero lock-in period.
Is LIC Mutual Fund taxable?
LIC MF Tax plan is an open ended equity linked scheme (ELSS) shared reserve from the place of LIC. This ELSS plot likewise has a lock in time of multi year with Tax exception advantages of 80C. It is an open finished value connected assessment sparing Scheme - recently called as Dhan Tax Saver 1997.
🔗Top LIC Mutual Funds
LIC Money Back Policy
LIC's Money Back Policy is a 20-year, non-connected arrangement that gives pay-outs at specific interims. These compensation outs are made during the strategy residency as a specific level of the essential total guaranteed. This arrangement offers unplanned passing and incapacity advantage rider too.What is LIC Merchant?
LIC Merchant Portal Login, Registration and Premium Collection. For productive and true working of premium assortment, the LIC of India has given a 'shipper entrance' where all the undertaking should be performed on the web. The vendors need to login in to do the excellent assortment.LIC Mediclaim
LIC Jeevan Arogya is a non-connected Health Insurance Policy which encourages people to adapt up to the rising clinical expenses. Right now can cover yourself, life partner, youngsters, guardians just as relative and father-in-law. It is a far reaching medical coverage approach for the whole family.LIC NEFT Form
What is Neft form in LIC?The installment under our policies will be to be attributed, legitimately to our Bank account through electronic. method of installment as it were. For this reason, we require our bank subtleties for making the approach installment through. NEFT (National Electronic Fund Transfer).
Can we submit LIC Neft mandate form online?
NO. In any case, we can examine our bank subtleties; either dropped check leaf, bank passbook or bank explanation containing our name, account number and Indian Financial System Code (IFSC); and send these connections through email to LIC branch in which our approach is being adjusted.
LIC Policy
How can we get LIC Policy?🔼 Log in to LIC online portal by using our ID and password
🔼 We will see our account page
🔼 Now select/choose the year for which we want to LIC Policy statement
🔼 Finally, click/tap on print & save our statement.
🔗LIC Policy Status
How can we register in LIC?
A. Click/Tap on e-Services, login with our user id & password.B. Register our policies for availing the e-services by filling up the form provided.
C. Print the form, sign it & upload the scanned image of the form.
D. Upload the scanned image of PAN Card or Aadhaar Card or Passport.
E. The file size of the scanned image should be < 100 KB & the image should be in any of the following formats:-.bmp, .png, .jpg, .jpeg, .gif, .tiff
F. After verification by our offices, an acknowledgement email & SMS will be sent to us. Now we are ready to avail our e-services.
LIC Retirement Pension Plan
Checkout👉 LIC Retirement PlanHow can we renew our LIC policy online?
We can do as such by either visiting the LIC site. To pay premiums through the safety net providers site, visit www.licindia.in and click/tap on 'Pay Premium on the web' from the 'Online Services entry'. Here we will get two choices: a) Pay Direct (Without login) and b) Through client gateway.Is LIC better or SIP?
In this way, it would consistently be smarter to go with term extra security forever spread and SIP for long haul ventures. LIC represents Life Insurance Corporation of India and SIP is Systematic Investment Plan. LIC will assist your family with staying in extravagance after your demise, and SIP will assist you with creating riches for you.What is the difference between PPF and LIC?
PPF and LIC are two unique speculations and suit various necessities. Public Provident Fund (PPF) is a Public Provident Fund implied for long haul investment funds and retirement. Anybody is qualified for open an open opportune reserve. LIC represents LIC Insurance Corporation and means the life coverage approach that you can take against dangers.LIC Jobs
Checkout👉 LIC JobsLIC Working Days
If there should be an occurrence of a month having five Saturdays, LIC will be shut uniquely on second and fourth Saturdays. Starting at now, Saturday is a half working day for LIC staff. So rather than four half working day on Saturday, they will get two off and remaining Saturday of a month as full working day.Conclusion
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