Insurance with sovereign guarantee (sec. 37 of LIC Act, 1956)
Achieve your money goals with certainty and the least risk.
LIC of India offers a wide range of products and plans for creating guaranteed income after retirement and achieving all money goals with certainty. Government of India guarantees payment of LIC policies’ sum assured and declared bonuses, a powerful USP that no private insurer can offer. LIC policies provides a sense of security and helps in financial planning as the policyholder know what to expect at the end of the policy term.
LIC facts
- LIC is the largest life insurer in India and the 4th largest globally.
- LIC is India’s largest asset manager. LIC’s AUM is more than 3.2 times the total AUM of all private life insurers in India and is approximately 15.6 times more than the AUM of the second-largest player in the Indian life insurance industry.
- Further, LIC is also the largest institutional investor in the Indian equity markets with a total equity AUM of $130 billion, giving LIC a 20% share of domestic institutional equity AUM—a shade of more than half of all equity mutual funds in India. With this, LIC has about 4% stake in Indian equities, making it the single largest stakeholder after the government.
Note: Above data as of December 2021.
LIC plans
LIC of India offers a wide range of products and plans for creating guaranteed income after retirement and achieving all money goals with certainty. Please note that the benefits may vary based on individual circumstances and policy terms. It’s always advisable to consult with a financial advisor or insurance expert to determine the best option for your specific needs.
Jeevan Umang
Whole Life Guaranteed Pay Plan
A whole life plan which offers a combination of income and protection. Provides for annual survival benefits (income) from the end of the premium paying term up to age 100 and a lump sum payment at the time of maturity or at death of policy holder, whichever is earlier. More
Jeevan Lakshya
Assured Future Endowment Plan
This plan provides a lump sum amount at the time of maturity irrespective of survival of the insured and annual income benefit to fulfill the needs of the family, primarily for the benefit of children, in the case of the unfortunate death of the Policyholder any time before maturity.
Jeevan Shanti
Pension Plan with deferment option
This is a single premium plan wherein the Policyholder has the option to choose between Single life and Joint life Deferred annuity. Annuity rates are guaranteed at the start of the policy and are payable post-deferment period throughout the lifetime of the Annuitant(s).
Jeevan Amar
Term Plan
It is a pure risk Plan, which provides financial protection to the insured’s family in case of his/her unfortunate death during the policy term. Flexibility to choose from level and increasing sum assured, single, regular, and limited premium payment. Special rates for women.
Jeevan Labh
Limited Pay Endowmnet Plan
Amrit Baal
Guaranteed Return Child Plan
Bima Shree
Limited Premium Money Back
Index Plus
Regular Premium ULIP Plan
Jeevan Shiromani
Money back plan for HNIs with CI cover
Jeevan Shiromani a policy for high net-worth individuals that combines protection, savings, attractive returns, and medical cover with inbuilt benefits for 15 critical illnesses. This plan also takes care of liquidity needs through a loan facility. More
Cancer Cover
Health insurance for cancer cover
LIC’s Cancer Cover is a regular premium payment health insurance plan. It provides financial protection in case of diagnosis with any of the specified Early and/or Major Stage Cancers during the policy term, with lump sum and income benefit. More
Identify risks and HAVE protection.
Insurance protects the value of all you have earned and own.
Why LIC?
- Trust and Reliability: LIC of India is a government-owned corporation with a legacy of over 65 years, offering unparalleled trust and reliability. Its reputation and stability are unmatched in the Indian insurance market.
- Wider Network and Branches: LIC of India has an extensive network of branches and agents across India, making it easily accessible and convenient for policyholders.
- Guaranteed Returns: LIC’s policies offer guaranteed returns, which means policyholders can be assured of a certain amount as returns.
- High Claim Settlement Ratio: LIC of India has a high claim settlement ratio, ensuring that policyholders’ claims are settled efficiently and hassle-free.
- Government Backing: As a government-owned corporation, LIC of India offers the added security of government backing, providing an extra layer of protection for policyholders’ investments.
LIC policy servicing
Contact us for policy services required for your existing LIC insurance policies if you are not able to get the services from your existing agent(s). We would provide you with all possible help free of charge. Some of the frequently needed services are listed below.
- Policy Loan
- Maturity Claim
- Change of Nominee
- Premium Mode Change
- Branch Transfer
- Cash-flow Statement
- Change of Address
- Policy Reassignment
- Updating NEFT
e-NACH Registration for premium payment
Facility for registration of e-NACH mandate for payment of premium can be completed with Net banking or Debit card credentials. Policies on own life or life of minor children are allowed through this option. This option can be used for policies where,
- Total installment premium with GST is not exceeding Rs. 10 lakhs
- All premiums due till date are paid
- Time remaining for the next premium due is 16 days or more
Keep following handy before proceeding with e-Nach registration:
- Policy Number
- Installment Premium w/o GST
- Date of Birth
- Bank a/c no.
- Bank IFSC
- Debit/ATM Card
Having any random insurance is not enough.
Check your current policies for flaws to stay fully secured.
Read blog articles
LIC Employer Employee Scheme
Create a life-long guaranteed, tax-free* income
Talk to us: Book an appointment
LIC Call Center +91-22-68276827, Say Hi to LIC on WhatsApp +91-8976862090