Life Insurance Corporation of India (LIC), the largest life insurer in the country, has announced a staggering unclaimed maturity amount of approximately ₹880 crores. This massive figure has garnered significant attention, raising questions about its origins, implications, and steps being taken to resolve the situation. Let us delve deeper into this development and understand why … Read more
Life Insurance Corporation of India (LIC) has recently implemented significant changes in its commission structure and related policies, effective October 1, 2024. These changes, driven by new surrender rules and revised guidelines, have implications for LIC agents, customers, and the insurance industry at large. This article delves into the updated commission structure, the reasoning behind … Read more
Life Insurance Corporation of India (LIC), the nation’s leading insurance provider, has taken a historic step towards empowering women by introducing the Bima Sakhi Yojana. Inaugurated by Honorable Prime Minister Narendra Modi on December 9, 2024, in Karnal, Haryana, this initiative is designed exclusively for women, offering them an unparalleled opportunity to achieve financial independence … Read more
In its continuous efforts to foster educational development and provide opportunities to deserving students, the LIC Golden Jubilee Foundation has launched the LIC Golden Jubilee Scholarship Scheme 2024. This initiative is a beacon of hope for students from economically weaker sections of society, aiming to support them in their academic pursuits and build a brighter … Read more
LIC Agents News – The Life Insurance Corporation of India (LIC) recently held a press conference to announce significant updates that will impact its vast network of agents, numbering around 14 lakh across India, and its policyholders. Led by LIC CEO Siddharth Mohanty, the LIC management provided clarity on two key areas: the non-implementation of … Read more
The Life Insurance Agents Federation of India (LIAFI) recently expressed growing concerns to the Life Insurance Corporation (LIC) of India’s Chairman, Siddhartha Mohanty, regarding policy changes that LIAFI believes could negatively impact agents and policyholders alike. The issues raised in their recent letter highlight LIAFI dedication to protecting the interests of agents and maintaining the … Read more
The Life Insurance Corporation of India (LIC), India’s largest and most trusted insurance company, is now facing a storm of discontent from its agents. This friction stems from a series of policy changes introduced by LIC, which have stirred the emotions of its agents, represented by the LIC Agents Federation of India (LIAFI). The LIC … Read more
8 Announcements from LIC Management – Life Insurance Corporation (LIC) agents recently received updates from top management officials following a high-level meeting at LIC central office in Mumbai. This meeting was attended by key figures including Managing Director Jagannath, Sudhakar, and Executive Director of Marketing Anand Chatterjee, among others. Although these updates have been presented … Read more
In a recent pivotal meeting held at the Life Insurance Corporation’s (LIC) central office in Mumbai, high-ranking officials met with representatives from the LIC Agents’ Federation of India (LIAFI), established in 1964. The discussions revolved around several demands put forth by LIC agents that are critical for maintaining their income stability and addressing changes in … Read more
The insurance industry in India, particularly for life and health insurance, has been in the spotlight for several months now, with policyholders, insurance advisors, and political figures advocating for significant reforms in the Goods and Services Tax (GST) structure. The crux of the matter is a potential reduction in the GST applied to life and … Read more