Life Insurance

Life insurance is a contract between a policyholder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money in exchange for a premium, upon the death of an insured person.

Special revival campaign of LIC now extended

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Revival campaign for lapse lic policies

Special revival campaign of Life Insurance Corporation of India for revival of lapsed policy which was earlier launched from 01/09/2015 to 31/10/2015 has been extended up to 30/11/2015. This will help the policy holders to revive their policies with concession in late fee. During this campaign policy holders of Life Insurance Corporation of India will … Read more

Get all your LIC policy payments directly into your account through NEFT

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LIC payment through NEFT

Life Insurance Corporation is now sending all the payment to it’s policy holders through NEFT payment system. The payment under your policies will be credited directly to your Bank account through electronic mode of payment only. For this purpose, you require to submit your bank details to LIC for making the policy payment through NEFT … Read more

LIC of India's Bonus rate declared for 2015-16

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LIC of India have declared Bonus rate for all its with profit policies. Evert year Actuarial department of LIC do valuation and declares the bonus rates. These bonus rate are applicable for policy year entered upon during the inter valuation period i.e. 01/04/2014 to 31/03/2015 and in force for full sum assured as on 31/03/2015. It would apply to … Read more

LICMobile – A useful mobile app for LIC policyholders

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LICMobile, Mobile application of LIC

With a increase in the use of smartphones, many financial institutions have come up with their mobile application to provide anytime and anywhere facility to the customer. LIC of India have also build a mobile application called as LICMobile. LICMobile application is developed by LIC itself and currently available for the android platform only through Google Play.

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All you need to know about Non-negative claw-back Additions

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Non negative claw back additon

As per the guidelines issued by Insurance Regulatory and Development Authority of India (IRDAI), barring the traditional insurance-cum-investment products, insurance policies now have a cost on caps in the form of reduction in yield. This is applicable on unit-linked insurance plans (ULIPs) and variable insurance plans (VIPs). At various durations starting from 5th policy anniversary till … Read more

All you need to know about Pradhan Mantri Atal Pension Yojana (PMAPY)

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Atal pension Yojana

There are many people in India working in unorganised sectors with no guarantee of any pension at old age. Though government had launched Swavalamban Yojana in 2011-2012, a very less people joined the scheme as it did not provide any certainty of amount payable at vesting age.

To provide financial security to such people at older age government has announced the Atal Pension Yojana (APY), which will provide a defined pension, depending on the contribution, and its period. The APY will be focussed on all citizens in the unorganised sector, who join the National Pension System (NPS) administered by the Pension Fund Regulatory and Development Authority (PFRDA). Under the APY, the subscribers would receive the fixed minimum pension of Rs. 1000 per month, Rs. 2000 per month, Rs. 3000 per month, Rs. 4000 per month, Rs. 5000 per month, at the age of 60 years, depending on their contributions, which itself would be based on the age of joining the APY.

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Difference between PMSBY and PMJJBY

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PMJBY and PMSBY

Lots of People are asking about the difference between the Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). In this article I have tabulated the difference between both the schemes. Both the Schemes are available to the customer through their banker with auto debit of premium from their bank … Read more