Tag Archives: India

Lic Life Insurance Policy Feathers

Life insurance Corporation of India (LIC) is the principal life insurance player in India Insurance Industry. Its physically powerful brand backed by long experience and well recognized network has helped it to stay behind on the peak. LIC offers an extremely gigantic and huge range of diversified products catering to needs of various sections of people in India.

PlanMin Premium Bonus Declared? NAV Declared? Loan Available? Tax benefit?
Jeevan Anand 1500
Jeevan Mitra (Double Cover Plan) 1600
Endowment Assurance (L.P) 2000
Endowment Assurance (S. P) 16000
Jeevan Pramukh
Jeevan Mitra (Triple Cover Plan) 1700
New Janaraksha Plan 1600
Endowment Assurance – (R.P) 1200
Jeevan NidhiI – RP 3000
New Jeevan Suraksha-I 2500
New Jeevan Dhara-I 2500
Jeevan Nidhi – SP 10000
Jeevan Anurag – RP 2000
Marriage Endowment Or Educational Annuity Plan 1800
Children’s Deferred Endowment Assurance Plan 21 2000
Jeevan Anurag – SP 25000
Children’s Deferred Endowment Assurance Plan 18 1200
Komal Jeevan 1200
Child Career Plan 1000
Child Future Plan 1200
Jeevan Chhaya 2000
Jeevan Kishore 1000
Child Fortune Plus RP 10000
Jeevan Akshay VI 3000
Pension Plus 15000
Endowment Plus 20000

The other subsidiary companies under LIC are:
Life Insurance Corporation (LIC) of India International – A joint venture offshore company promoted by LIC which commenced its operations in July, 1989 with the purpose of contribution policies denominated in US $ to NRIs reside in the Gulf.
LIC Nepal – Formed in 2001 in joint venture with Vishal Group of Industries, Nepal.
LIC Lanka – Formed in 2003 in joint venture with Bartleet Group of Companies, Sri Lanka
LIC Housing Finance – Established in 19 though June, 1989 in Dubai with the objective of providing long term finance for construction of houses or apartments.
LIC Housing Finance Limited Care Homes – A completely owned contributory of LIC Housing Finance which builds “Assisted Community Living Centers” for superior citizen.
With its ever-expanding operation, LIC has place an example for additional Public Sector Undertakings of India to follow.

Bajaj Allianz Life Insurance Company Limited

Bajaj Allianz Life Insurance Company is one of the leading and top rated insurance companies in not only in India but also in the whole world. Complaints against Bajaj Allianz Company can be lodged by writing them to their official customer care service center or by calling them. After the complaint is being lodged one should always keep in touch with the complaint manager official. The services provided by the company are very efficient and one should rely on the company for fixing the error. If the error is not fixed within the estimated date the financial officer of the company will look into the matter and the customer will be given proper reimbursement. All the insurance, banking or marketing based complaints are handled with utmost devotion so as to maintain the customers reliability and there are skilled and experienced professionals who constantly give in enormous effort to keep up the name of the company and maintain its standard.
The Bajaj Allianz customer care is very efficiently handled by the officers and other staff members. If one needs to lodge a complaint he is advised to speak to the staff member and first and then make a call in any of the branch offices of the company. The services are provided 24*7 and a toll free number is provided in the internet and other outlets where one can even text a written complaint. The company always maintains their high standard and provides the best customer care services to satisfy the customers need. If one is not satisfied with their services they openly receive the feedback from the customers and gives their best effort to resolve all the errands. The data to be submitted in Bajaj Allianz customer care should be appropriate and to the point and there is complete transparency while dealing with the customer care services.
The company helps people to invest in mutual funds according to current share market value and dealings. There are various complaints against Bajaj Allianz Company made by the customers. Often because of the share market values rise and fall people incur heavy loss which the company does not reimburse. Most of the complaints against Bajaj Allianz Company are made by its policy holders. They are always requested to check the format and other rules and regulations before taking hold of the policy. The company provides an efficient working team which provides services by sales and service representative or in the internet site. The complaints are taken 24x7x365 and can be availed at any time of the day from anywhere.
The Bajaj Allianz customer care always checks the fraud policies to fool people in general and also to decrement the companys standard and name and takes serious actions against those agents. Often agents take advantage of the common peoples trust and sentiments and lead them to wrong policy skims. The customer care of the company provides full support and reimbursement to the families and returns back their principal money with interest.

Life Insurance Corporation Of India

LIC India finances 24% of the outlays of the Government of India. The insurer carries out its operations with the help of 100 divisional offices, 8 zonal offices, 2,048 branch offices and 10,02,149 agents.
The asset value of the company has been evaluated at Rs. 9.31 trillion (US$ 202.03 billion).

History of Life Insurance Corporation of India

LIC of India was incorporated in 1956 with the amalgamation of over 200 insurance companies and provident societies. Previously, it was known as Oriental Life Insurance Company. The company was the first to offer life coverage in India. It was set up in Kolkata by Bipin Behari Dasgupta in 1818. The first national insurance carrier was Bombay Mutual Life Assurance Society, established in 1870. Other insurance providers set up in the pre-independence period include the following:

United India (1906)
Bharat Insurance Company (1896)
National Insurance (1906)
National Indian (1906)
Hindustan Co-operatives (1907)
Co-operative Assurance (1906)
General Assurance
Indian Mercantile
Swadeshi Life (later Bombay Life)

After the introduction of the Life Insurance Act and Provident Fund Act in 1912, the company underwent a series of mergers and acquisitions. Nationalization of the Insurance industry in India sped up this procedure. The company ranks as the biggest government insurer at the present time.

Products and services of Life Insurance Corporation of India

The products and services of LIC India are as follows:
Pension Plans
Insurance Plans
Special Plans
Unit Plans
Group Scheme
Withdrawn Plans

Subsidiaries and affiliates of LIC India

Given below are the names of the subsidiaries and affiliates of Life Insurance Corporation of India:

International Operations
LIC Mauritius
LIC Fiji
LIC Representative Office, Singapore
LIC United Kingdom
LIC (Nepal) Ltd
LIC (International) B.S.C (C), Bahrain
Saudi Indian Company for Co-op. Insurance, KSA.
LIC (Lanka) Ltd
LIC Mauritius Offshore Ltd.
Kenindia Assurance Co. Ltd., Kenya.
LIC Singapore Offshore Ltd.
Associates
LIC Housing Finance Ltd.
LIC HFL Financial Services Ltd
LIC Mutual Fund AMC Ltd.
LICHFL Care Homes Ltd.
LIC Pension Fund Limited
LIC Cards Services Ltd.

Life Insurance In India – Who Needs It

Why Do You need Life Insurance Policy ?
When needs it?
Life Insurance policy provides either a lump sum or an income on the untimely death of an individual. Therefore, anyone who’s death would make a financial loss to another has a need for life insurance policy. This should contain the followings: –
1.Mortgage Life Insurance Cover
2.Anyone with dependents
3.Key Individuals.
In essence any situation where monetary loss would be incurred could possibly have a need for life insurance policy.
60,000 people in the India have died in 2008* *source: Terrorist Attack

Types of Cover:

Term Life Insurance
Term life insurance as the name suggests pays a death benefit only during a specified term of coverage which usually ranges between 10 and 30 years. Term life is the cheapest and most financially efficient form of life insurance for most young and middle-aged people the premiums on term policies are relevantly low since the likelihood that they will die during the term of the policy is small.
Furthermore term insurance is appropriate for most people because they can select a term that will cover them during their time of the greatest financial need.

Whole Life Insurance
Contrasting term insurance, a whole of life policy pays a death benefit no matter when you die. Of course, you usually have to pay premiums for a lifetime as well. For most people, whole life insurance provides coverage that’s actually unnecessary. If you die at age 85, will your widowed spouse or children really need an extra 200,000 to keep going? Insurance salespeople often try to convince customers to buy whole life insurance because of its investment component. A portion of your premiums go into an investment fund which grows at a varying rate, depending on the performance of the stock market. This produces a couple of supposed benefits. One thing, the premiums you pay may be reduced in the future if the investment fund performs well.

Which one?
There are good arguments for both type of policy. We would suggest that the following could make up the main considerations: –
Cost – Whole Life insurance ,is more expensive type of product.
Period that cover is required – If cover is required for a specific period i.e. a Mortgage then Term life insurance policy could be more appropriate
Future Plans – If, for instance a family is planned, then whole of life can offer the flexibility to increase cover for this or other like events.

Conclusion:
Life insurance is needs everyone. At Policy Bazaar you can compare and buy life insurance policy according to your requirement. If any help require regarding to insurance you can call to call center to available such special offers at 0124 457 67 77 and also see website:

Best Life Insurance Plans In India

Insurance is very important for all people. In this modern life where everything is so fast paced, you never know what might happen to you or your loved ones at any time. Life is more precious than anything else and that is why you should consider a life insurance plan for you and your loved ones. There are many life insurance plans that are available from different places and some of the best life insurance plans offer great premiums and returns. If you take a look into the hdfc standard life insurance plans, you will come to know that there are many options that you can pick from. ICICI Lombard insurance is also considered by many as it provides very good offers. When you take so much care into insuring your vehicle and house, why shouldn’t you take as much care in your own life? So the first thing you should do is to look for details on the different life insurance plans that are available and you can easily find the best life insurance plans in India if you look online. The next thing you should do is to find out about the premiums and how much you would have to pay for each installment. Choose the one which is the most affordable for you and once you have done that too, you can go ahead and contact the officials at the insurance provider. Then they will guide you through the whole procedure and very soon you will have a life insurance policy in your name. If at all anything happens to you, then that money will go to your next of kin. If you are the breadwinner of the family, then that money will help them while they look for alternatives for survival.