LIC with 30 Crores Policy Holders

LIC is the Single largest Insurance Company in the world with 30 Crores policyholders.

SBI Bank's Profit
Rs 86,000 Crores with
16000 Branches.

&

LIC's Profit
Rs 326000 Crores with
only 2000 Branches
+ 3000 Satellite Offices.

It means Benefit to Policyholders of cash rich company.

Share market fall LIC purchase, make profits and it goes to policyholders.

In 2008 LIC's  Life Fund was
Rs 7 Lac Crs.


In 2013 LIC's  Life Fund is
Rs 14 Lac Crs.

It means Benefit to Policyholders -
Claims settles immediately from LIC.

LIC has not taken single loan from any bank in last 56 years.
Instead all banks have taken loan from LIC.

Every day collection of LIC  is
Rs 300 Crs.

Profit from International Operation is
2.65 million dollarss
(Rs 16000 Crs).

LIC New Endowment Plan (Table no 814)

LIC NEW ENDOWMENT PLAN (Table No 814)

Death Claim Benefit: -

 Sum of "Sum Assured on Death", Vested Simple Riversionary Bonus and Final Addition Bonus if any.

Maturity Benefit: -

 Sum of Basic Sum Assured, Vested Simple Riversionary Bonus and Final Addition Bonus if any.

Optional Benefit: -

 LIC's Accidental Death and Disability Benefit Rider is available as an optional rider by payment of additional Premium during the term of Policy. 

 DOB 06/04/1985

 DOC 01/04/2012

 Age NBD 27

 Min Entry Age 8

 Max Entry Age 55

 Max Mty Age of Exit 75

 Max. Policy Term Elig. (Age) 35

 P.P.Term / P.Term 35

 Sum_Assured 200000

 Accident_Benefit Yes

 Are You a LIC Employee No

 Tabular_Rate 28.85

 Service_Tax 3.09%

Minimum policy need to do for a LIC Agent for 3 years

LIC Minimum Garenty Busines for LIC Agent

On or After 09.07.09

Old MBG: 12 Lives + S.A as applicable                                                                                      

New MBG: 12 Lives + 1 lakh FYPI                                                                                            

Condonation Agency year wise : 6 Lives + 50,000 FYPI up to Max. of 50%  

The minimum policy required to do for a LIC Agent to keep its license is to do 36 policy plus 3 lakh premium. IRDA is making life very difficult for those LIC agents who doesn't take the business seriously. Now you need to work hard in order to keep the license otherwise your license will lapse. 

LIC Minimum Garenty Busines for LIC Agent

LIC Minimum Garenty Busines for LIC Agent

On or After 09.07.09

Old MBG: 12 Lives + S.A as applicable                                                                                      

New MBG: 12 Lives + 1 lakh FYPI                                                                                            

Condonation Agency year wise : 6 Lives + 50,000 FYPI up to Max. of 50%  

You need to do minimum 12 policy (12 different lives) Plus 1 Lakh total premium for the first year. So its 36 lives and 3 Lakh premium for the first 2 years.