LATEST LIC NEWS

LIC launches their first online term plan LIC E-Term          After a really long wait, Life Insurance Corporation (LIC) of India has launched its first online term plan called LIC e-Term. LIC's total investments touch Rs 14.8-lakh crore      The total investments of Life Insurance Corporation of India (LIC) at the end of FY13 stood at Rs 14.86 lakh crore Mumbai has highest number of critical illness insurance policies          Almost half of the respondents have not disclosed their smoking / chewing tobacco habits in the insurance policy declaration Mumbai has the highest number of insurance policies which cover critical illnesses including ailments related to tobacco consumption, LIC hikes stake in BHEL to 15%      New Delhi: State-run Life Insurance Corp has increased its stake in BHEL to nearly 15 percent after it purchased 4.6 percent shareholding in the power equipment maker as part of government's disinvestment programme. Premium for similar online term insurance plan differs widely across insurance companies      While term insurance plans that can be purchased online are cheaper by approximately 30-40% in comparison to similar offline term plans with same basic cover or sum assured value. It is to be noted that different insurers across the industry are charging premium rates that vary largely for similar plans.

LIC NEWS PAGE WELCOMES  YOU   (This page shows all updated LIC News including today LIC news & LIC information. keep in touch always for all current updated latest LIC NEWS) LIC dominates new policy collections      CHENNAI: State-owned LIC of India pipped private life insurers in underwriting new policies. The first-year premiums of life insurers during the last fiscal rose 12% to 1.19 lakh crore as against 1.07 lakh crore, on the back of LIC's 18% growth.      Industry observers said that regulatory changes effected to equalize all non-linked and market-linked plans resulted in private players posting poor numbers. LIC's Jeevan Anand policy plan relaunched          Jeevan Anand Life Insurance Plan from LIC is popular among policyholders and has been relaunched recently. The re-launched Jeevan Anand protection cum savings plan is a participating non-linked plan that offers financial protection against death throughout the life of the insured. Additionally, the policy has the provision to offer cover for whole life even after providing maturity benefit as a lump sum payment at the maturity of the policy plan. LIC’s claim settlement better than private insurers: Irda          New Delhi: Private insurance companies fared poorly in terms of settlement of death claims in 2012-13 as compared to state-owned LIC, says sectoral regulator Irda. "The claim settlement ratio of LIC was better than that of the private life insurers," Insurance Regulatory and Development Authority said in its annual report. Life Insurance Corporation posted claim settlement ratio of 97.73 per cent last fiscal, as compared to 97.42 percent in 2011-12. LIC's New Endowment Plan: Salient features      LIC's New Endowment Plan is a with profits non-linked protection and savings plan. The plan offers financial security in case of an unfortunate event of death of the insured during the policy term with the provision for maturity benefits in case of survival of the insured. Salient features of the policy: Minimum and Maximum entry age: Minimum age to enroll in the scheme is 8 years while the maximum age to invest in the plan is 55 years.

LIC most consumer friendly: IRDA      The claim settlement ratio of LIC was better than that of private life insurers. Its settlement ratio increased to 97.73% in FY13 from 97.42% in the previous year LIC sells shares worth Rs 6,300 cr in Sensex      New Delhi: State owned life insurer LIC lowered its exposure in 15 blue-chip firms during the January- March quarter with sale of shares that are currently worth over Rs 6,300 crore. LIC online term plan: How is it different?      Online term plans will help people separating insurance and investment which always benefits investors and it’s a proven fact. Buy online term plan and invest the surplus in other avenues depending on your time horizon and risk profile. Why should claim settlement ratio of insurance companies score over other parameters?      The main purpose for which the insurance and more specifically term insurance is purchased is many a times overlooked ahead of several other considerations such as the extent of tax deduction, return in case of other non term-cover plans. LIC launches online term plan      The policy, a regular premium pure protection policy, pays the sum assured in case of the death of policyholder LIC has launched an online term plan, according to a media report.