Which software is used in LIC?
Except in a few branches where there have been some migration problems on account of hardware and software issues, the applications are already running on Linux OS. At present, LIC is using Linux mainly as a back-end operating system.
What is the net worth of LIC?
Life Insurance Corporation (LIC) celebrated its 66th Foundation Day on 1 September, 2021. Starting with an initial capital of ₹5 crore in 1956, LIC currently has asset base of ₹38,04,610 crore, with Life Fund to the tune of ₹34,36,686 crore.
How much commission does LIC agents get?
Though, Agents earn the commission for the policies they sale. LIC offers 25% to 35% commission on the policy premium for the first year, then 7.5% for 2nd & 3rd Year + 5% till the policy maturity.
Who is the chairman of LIC?
M R Kumar
Life Insurance Corporation/Chairpersons
Presently, MR Kumar is the LIC chairman, whose tenure was extended by another two years last week. Currently, LIC has four MDs — Vipin Anand, Mukesh Kumar Gupta, Raj Kumar and Siddhartha Mohanty.
What kind of insurance is LIC Jeevan Lakshya?
LIC Jeevan Lakshya Policy is a limited premium paying conventional plan categorised as the With-Profit Endowment Assurance plans. The plan is chiefly advantageous for
When to cancel LIC Jeevan Lakshya death plan?
Death Claim – Death claims received under the plan are free from taxation under Section 10 (10D) of the Income Tax Act Free-look Period – If the policyholder is not happy with the plan, he can cancel the policy within 15 days of the plan issuance. This period is called the free-look period.
What is grace period for LIC Jeevan Labh plan?
In case of monthly premium payment mode, the grace period is of 15 days. Loan – You can avail a long against this policy after you have paid 3 years of premium. Surrender Value – If you surrender the plan anytime before paying 3 years of premiums, you will not be paid anything back.