LIC of India is the largest insurance company headquartered in Mumbai. It is is an Indian state-owned insurance group and investment company with an estimated asset value of Rs. 1,560,482 crore. Life Insurance Corporation of India was founded on 1st September 1956. S.K Roy is the chairman of LIC India. As on 31st March 2014, LIC of India had 1,20,388 employees out of which 20.65% (24,867) were women. The slogan of LIC is “Your welfare is our responsibility”. It offers a variety of products and services which help you to secure your life. To know more about LIC products, LIC online services, etc. read the complete article.
LIC of India Products
LIC of India offers a variety of products such as Term Insurance Plans, Endowment Plans, Pension Plans, ULIP (Unit Linked Insurance Plans), Money Back Plans, LIC Child Plans, etc. The description of these plans and the products regarding these are provided below.
LIC Endowment Plan
LIC Endowment plan not only covers your life but also helps to save money regularly over a specific period of time. So, on your survival till the end of the policy term, you will be able to get a lump sum amount on the policy maturity. In case, if the insured dies during the policy term, this LIC Endowment Policy pays the full Sum Assured (SA) to the beneficiaries.
List of LIC Endowment Plans
LIC Money Back Plan
It provides life coverage during the policy term, and the maturity benefits are paid to the policyholder in installments by way of survival benefits in every 5 years. On the death of the policyholder within the policy term, the death benefit will be payable with full sum assured along with survival benefit amounts already paid. On this full Sum Assured, the bonus is also calculated. The Money Back policies offered by LIC of India are as follows.
List of LIC Money Back Plans
LIC Term Insurance Plan
LIC Term Insurance provides life coverage for a limited period of time at a fixed rate of payments. On expiration of that period, coverage at the previous rate of premiums is no longer guaranteed. On the death of the life assured during the policy term, then the death benefit will be paid to the beneficiary. The Term Insurance is less expensive when compared to permanent life insurance. The Term Insurance policies offered by LIC of India are as follows.
List of LIC Term Insurance Plans
LIC Pension Plan
LIC Pension Plans provide you with steady income after retirement. These are also known as retirement plans that let you allocate a part of your savings to accumulate (collect or acquire) over a period of time. LIC Pension Plan helps you to secure your cash flow for meeting basic daily needs after retirement. The Pension Plans offered by LIC of India are as follows.
List of LIC Pension Plans
LIC Health Plan
Health Plan is an insurance coverage that covers the medical expenses and surgical expenses that are incurred by the policyholder during hospitalization. Depending on the health insurance type, either the insurer makes payments directly to the hospital or the insured pays costs out-of-pocket and is then reimbursed by the insurer. LIC offers only one health plan that is given below.
LIC Online Services
LIC of India provides different online services. Now a days everything became online. Users also prefer the online mode rather than offline mode. So, to make it easy for customers, Life Insurance Corporation of India introduced many Online Services like,
- LIC Policy Status Online
- LIC Online Payment
- LIC Login
- LIC Premium Calculator
LIC Policy Status
LIC Policy Status is the one which helps you to check the status of LIC Policy. You can check the LIC Policy Status through many ways like through Online or Customer Care or SMS. Using LIC Policy Status you can know the policy related information like how much premium you still need to pay or when your policy cover expires or what will be your maturity benefit or survival benefit or death benefit or any bonus. Instead of going to LIC Office to check LIC of India Policy Status, you can check easily through any of the method mentioned below. To know how to check policy status through these methods refer the post given below.
LIC Online Payment
Life Insurance Corporation of India provides many online services in which LIC Online Payment is an important service for the customer. Through this LIC of India Online Payment, you can pay premium through online without visiting the LIC Branch Office or without consulting the LIC Agent. Premium Paying Mode varies for different plans. If you opted for monthly premium payment mode, you need to pay the premium every month. It’s a waste of time and energy to visit the LIC office every month and doing paperwork for paying your premium. So, it’s better for LIC customers to utilize this LIC Online Payment method to pay premium online just by sitting in your home. Both the registered users and new users can make Online Payment of LIC. Want to know the process?? Then refer the post given below.
To make LIC Online Payment or to check LIC Policy Status through Online, LIC Login is mandatory. To utilize this online service, User ID and Password are required. For these, you need to register to the LIC Official Website. To the process of registration and login check the below post.
LIC Premium Calculator
For the selected Sum Assured, how much premium I need to pay? What is the Maturity Benefit? How much Loan amount can I avail? How much bonus will be added to my Sum Assured?
For all these questions you can get the answer by simply using LIC Premium Calculator. To use LIC Premium Calculator user need to provide some details like Policy Period, Age, and Sum Assured.
LIC Contact Details
The corporate office address and LIC Customer Care Number are provided below.
Life Insurance Corporation of India,
‘Yogakshema’, Jeevan Bima Marg,
P.B. No 19953, Mumbai – 400 021
Customer Care Number:
The Customer Care Number is different for each LIC Branch in India. To receive the help through SMS,
SMS LICHELP <pol.no.> to 9222492224 or SMS LICHELP <pol.no.> to 56767877.