Lic Policy

Govt nudges LIC to tweak product strategy for better investor return

The government is nudging LIC to tweak its product strategy to maximise profitability in a bid to help the country's largest insurer realise its full growth potential and yield better returns for investors, an official said. Life Insurance Corporation (LIC) has been trading below the issue price of Rs 949 a share ever since it got listed on stock exchanges on May 17. It listed at Rs 872 apiece on NSE. On Tuesday, the scrip settled at Rs 595.50, down 0.72 per cent over the previous close. Foreign brokerages, however, remain bullish on LIC setting a higher target price over the next year as they feel that the insurer has good medium-term market potential, negligible high risk assets and robust core operating Return on Embedded Value (ROEV). Citi in a research report dated October 14 set a target price of Rs 1,000 for LIC scrip, saying LIC is 'positioned better than mature global players'. The finance ministry in its performance review has been sensitising the LIC management about th

Thrust on non-par products to yield desired results: LIC chief M R Kumar

We intend to sharpen the focus on bancassurance to steadily and considerably increase its volume, thereby its share in our business, said Kumar

Mere alcohol presence isn't intoxication

The National Commission decided a person can be said to be intoxicated only when blood alcohol level is 100 mg per 100 ml or more

Life Insurance Corp launches special campaign to revive lapsed policies

The campaign is launched to benefit those policy holders who were not able to pay premiums due to unavoidable circumstances and their policy lapsed

Life insurers' new business premiums grow 4.1% in June to Rs 31,254 cr

However, in Q1, the industry posted a 40% YoY growth in new biz premiums

LIC to hold first AGM on Sept 27 via video-conference, other AV means

LIC Board sets August 26 as record date for dividend payment, approves investment in proposed rights issue of LIC (Nepal) Ltd

Vedanta turns to LIC for Rs 5,000 cr as offshore borrowing gets costlier

Fund to be raised via 10-yr bonds; another Rs 2K cr to come via 18-month papers

LIC policyholders can apply for IPO at a discount: Here are answers to FAQs

How to apply for LIC IPO? How much is the discount for eligible policyholders? Are proposers of a policy eligible for reservation? Here are the answers to some FAQs on LIC IPO for policyholders

LIC launches new campaign to revive lapsed policies amid Covid-19

To encourage individuals to continue their risk cover amid the coronavirus pandemic, LIC on Thursday launched a campaign where lapsed policies can be revived. The insurance behemoth has launched a Special Revival Campaign starting from January 7 till March 6 for its customers to revive their lapsed individual policies subject to certain conditions. It has also authorised its 1,526 satellite offices to revive policies where special medical tests are not required. "Under this Special Revival Campaign, policies of specific eligible plans can be revived within five years from the date of the first unpaid premium subject to terms and conditions," LIC said in a statement. Certain concession in health requirements is also being offered subject to eligibility, it said, adding that most policies can be revived only on the basis of a declaration of good health and a COVID-19 questionnaire to be submitted by the proposer/ life assured. LIC had launched a similar campaign from August 10 till

Lock into current term insurance premiums, new rates unlikely before Apr 1

The sale of term plans gathered pace only over the past four-five years

Life insurers' new premium, led by LIC, jumps 94% to Rs 32,241 cr in June

The country's largest life insurer LIC, which is the only state-owned life insurance firm, witnessed more than two-fold rise in its new premium collection

Make the most of special campaigns to revive lapsed insurance policies

When insurance companies run them, the penalty is waived and you do not have to undergo a medical test

This new LIC policy gives a 100-year cover with 8% assured annual returns

Jeevan Umang covers up to 100 years, has no upper limit of basic sum insured