As a Govt of India owned Company , LIC is
more than 51 + years old in the field of
life insurance and money management. LIC's Life Fund size as on day is more
than Rs 5 Lakh Thousand Crores !
Any LIC policyholder or the nominee will vouch for the best claims
settlement from LIC. Perhaps, this is the only institution where you as a
policyholder are virtually chased till such time your claim cheque is handed
over to you !
LIC has won `NDTV Profit Leadership Award
2007 under Life Insurance Category',
`Outlook Money Award 2007 as the best Life Insurer',
`CNBC Awaaz Consumer Award 2007 as the best
Life Insurance Company', `Golden
Peacock Award for excellence in Corporate Governence 2007',
`Web 18 Genius of the Web Award 2007 and many
LIC adjudged No.1 Trusted Service Brand
for the 4th successive year by ET BrandEquity Survey.
LIC has been adjudged Superbrand India for
2004-06 and Reader's Digest `Trusted
Brand' Asia 2007.
This is the only corporation that is catering to more than 190 million
satisfied policyholders in India and abroad.
This is one of the very few institutions that
pays ex-gratia interest on pending maturity claims !
More than 2050 LIC branches all over India are connected together to serve
you. You can pay your premium anywhere in the country.
During its long existence, LIC has kept on updating its portfolio by
bringing in new plans depending on public requirement. More than 50 of them
are most popular and can be customized to meet any of your requirements. LIC
ULIPs have become extremely popular due to the returns they offer. Money Plus-
latest LIC Unit Linked Plan is a case in point.
All LIC Plans come
with Sovereign Guarantee i.e., Govt of India Guarantee regarding repayment.
Infact, as of now, only LIC plans enjoy this Govt Guarantee. Beneficiary for
this Sovereign Guarantee is you and you alone as the policyholder/ would-be
All LIC plans are characterized by low premium, high life insurance
coverage and a vast package of benefits offered by them. Add to this package,
section 80C benefit and section 10(10D) benefit on the maturity proceeds, you
will find investment on LIC plans one of the most coveted investment options
available to you.
Premium paid under Key-Man Insurance plan is a recognized business expense
under section 37(I) of the Income-Tax Act. For companies making profits, this
is a very good incentive indeed.
Through Employer-Employee Insurance scheme, you can recognize the worth of
your most valuable employees whose absence you can ill afford to loose.
Entire contribution to LIC Group Gratuity Scheme is a recognized business
expense in the hands of the employer. In addition, through this scheme, the
employer can transfer his gratuity liability to the corporation and fund the
same under cash accumulation scheme. The most popular among all the companies.
LIC is declaring quite an impressive bonus (profits) on all its
with-profits policies every year. Extra attraction under LIC Bonus is (a) it
is calculated every year on the insured amount and not on the premium paid
and (b) entire bonus received along
with insured amount either by you on maturity of your policy(ies) or by your
nominee in your absence during the currency of your policy(ies) is free from
income-tax under section 10(10D) of the Income-tax Act.
On most of the LIC plans, you can borrow to take care of your immediate
monetary requirements. None of the policy benefits get affected as a result of
borrowal. Infact, policy loans offer one of the most attractive investment
You can pay your premium 3 years in advance at 5% discount. Chief
attractions of this advance payment of premium are (a) there is no possibility
of your overlooking your premium payment and getting your policy(ies) lapsed
wherever you are in the world and (b)
you will be earning 5% tax-free interest on the unutilized portion of the
amount left with LIC after apportioning the regular installment.
Most of the LIC plans come with Riders to take care of Total and Permanent
Disablement due to Accident and some of the most dread diseases that may
result in loss of income.
LIC pension plans that guarantee you life pension are extremely popular.
You can park your hard earned money safely with the corporation and enjoy
pension as long as you are alive.
money is in safe hands. Invest in LIC and help for growth of