LIC of India - Life Insurance Corporation of India

13 June 2025

LIC of India has announced relaxations for victims of the Air India AI 171 plane crash in Ahmedabad on June 12, 2025. LIC will accept government or airline records as valid proof of death instead of death certificates to support affected families. The insurer aims to expedite claim settlements and provide financial relief. Claimants can contact the nearest LIC branch or the helpline at 022-68276827 for assistance.

12 June 2025

Life Insurance Corporation of India, in collaboration with the Central Government, has launched the LIC Bima Sakhi Yojana to help women earn from home while serving their communities. Under this initiative, women are trained to become LIC agents in their local areas, gaining financial literacy, customer service, and insurance sales skills. During training, participants receive a monthly stipend of ₹5,000 to ₹7,000. Once certified, they can earn through commissions on LIC policies, with potential first-year earnings reaching ₹48,000.

LIC Bima Sakhi Yojana by Life Insurance Corporation of India supports financial independence and opens a pathway to career growth. High-performing agents can eventually become development officers, gaining greater responsibilities and income. Interested women can apply via LIC’s official website or through local CSC centres or panchayat offices as a part of LIC's national Digital India initiative.

09 June 2025

Life Insurance Corporation of India (LIC) has named Ramakrishnan Chandar its new Chief Investment Officer, effective June 5, as part of an ongoing leadership reshuffle. He will manage LIC’s vast investment portfolio, one of the largest in the country, spanning multiple asset classes.

Ramakrishnan Chandar, who joined LIC in 1990, brings over 30 years of experience across various roles, including senior divisional manager and regional manager for marketing and pension schemes. Most recently, he headed LIC’s Strategic Business Unit for International Operations as executive director.

This follows the appointment of Ratnakar Patnaik and Dinesh Pant as Managing Directors on June 1st. The leadership changes reflect LIC of India’s continued focus on strengthening its investment and operational strategy.

06 June 2025

The Life Insurance Corporation of India (LIC), India's largest State-owned insurer, is set for a significant leadership reshuffle as the Centre has approved the appointment of two new Managing Directors. Dinesh Pant, currently serving as LIC’s Executive Director (Actuarial) and Appointed Actuary, will assume charge as Managing Director starting June 1. He will hold the position until his superannuation (retirement) on May 31, 2027.

Ratnakar Patnaik, the Executive Director (Investment – Front Office) and the Chief Investment Officer, has also been appointed as Managing Director. His term will run until March 31, 2028, unless modified by future government directives. LIC has a provision of having four MDs, and this transition marks a key change in LIC’s senior management, aimed at ensuring continued operational leadership as two outgoing MDs retire.

26 May 2025

Life Insurance Corporation of India (LIC) has earned a Guinness World Records title for selling the most life insurance policies in a 24-hour period. The achievement was officially verified for the corporation’s agency performance on January 20, 2025, now famously observed as “Mad Million Day.”

In a statement, LIC of India said 452,839 of its agents came together in an unprecedented effort to issue a staggering 588,107 LIC policies across India. The accomplishment marks a new global benchmark for productivity in the life insurance industry.

“This is a powerful recognition of our agents' relentless commitment and our mission to provide vital financial protection,” the insurer stated. The initiative was led by LIC MD and CEO Siddhartha Mohanty, who thanked policyholders, agents, and employees for making the day historic and bringing this global honour home. Guinness World Records officially verified the milestone, positioning LIC of India as a global benchmark in agent productivity and outreach in the life insurance sector.

16 May 2025

Life Insurance Corporation of India (LIC) reported a solid start to FY25, registering a 9.91% year-on-year (YoY) growth in new business premiums (NBP) in April. LIC collected ₹13,610.63 crore during the month, up from ₹12,383.64 crore in April 2024, outpacing the overall industry growth of 8.43% and private insurers' 6.09%.

A key driver was LIC's strong performance in the group premium segment, which rose 13.48% to ₹10,449.76 crore. While individual premium collections were nearly flat, LIC remained the top contributor to the sector. For January-April 2025, LIC collected ₹82,324.58 crore in premiums.

Though the number of policies issued saw a modest dip, the steady growth in premium income highlights LIC's resilience and continued leadership in the Indian life insurance market.

12 May 2025

In a major digital leap, the Life Insurance Corporation of India (LIC) has just rolled out a game-changing feature—LIC premium payment via WhatsApp, starting May 9, 2025. This much-needed feature lets the previous LIC customer portal users simply send “HI” to 8976862090 on WhatsApp to view pending policies and make payments instantly using UPI, Net Banking, or Cards, all within the chat itself. No need to log in separately or navigate through the official website!

LIC’s CEO & MD Siddhartha Mohanty says the new feature aims to boost customer ease and operational efficiency. With over 2.2 crore registered users and 3 lakh daily customer logins, the move is part of LIC’s broader Digital Transformation initiative and is set to transform how Indians interact with their insurance. So if you're an LIC policyholder, forget the queues and clicks—your next premium payment is just a WhatsApp message away.

12 May 2025

Ensuring long-term financial security for their children is a top priority for every parent. The LIC Money Back Policy offers a dependable, structured savings plan combining life insurance coverage with periodic returns. With an affordable daily investment of approximately Rs.150 (Rs. 4,500 monthly), this policy can yield returns of up to ₹19 lakh over 25 years. It is available for children aged 0 to 12 years, and provides 20% of the sum assured at ages 18, 20, and 22, making it ideal for educational or other significant expenses.

On maturity at age 25, the policyholder receives the remaining sum assured along with accumulated bonuses. In the unfortunate event of the policyholder’s demise during the term, the nominee receives full benefits. Additional features include loan availability and tax deductions under Section 80C, making it a prudent, low-risk investment for a child’s future.

29 April 2025

In a swift response following the Pahalgam terror attack, the life insurance claim of the victim from Andhra Pradesh was settled in record time. LIC staff verified policy details with FIR and police documents, enabling immediate claim processing. The insurance amount was credited directly to the nominee’s bank account on April 24. LIC officials also visited the family to offer condolences and complete formalities.

28 April 2025

LIC Housing Finance has announced a 25-basis point cut in its prime lending rate, effective April 28. With the revision, home loan interest rates will now start from 8%. This move aims to make housing loans more affordable for both existing and new customers. “The interest rate cuts are in line with the RBI’s decisions and current market scenario,” said MD and CEO Tribhuwan Adhikari.

He added that the step is expected to boost consumer confidence and stimulate demand, particularly among affordable housing buyers. The rate cut is seen as a timely relief amid ongoing efforts to revive the housing sector and support first-time homeowners.

25 April 2025

In the wake of the Pahalgam tragedy, the Life Insurance Corporation of India (LIC) has announced a special window to expedite death claim settlements for affected families. The process remains entirely offline and begins with notifying the LIC servicing branch in writing, including details like the policy number, date, and cause of death. Claimants must submit Claim Form A, the original policy document, a certified death certificate or government record of death, proof of age, and banking details for electronic disbursement. If the policy lacks a nominee or assignee, legal entitlement proof is also needed. For early claims, within three years of policy start, additional medical and police documents are required.

LIC has also allowed alternative documents like government compensation proof in place of death certificates. Claimants can contact the nearest LIC office or call 022-68276827 for assistance. The initiative aims to ease procedural burdens during this difficult time.

24 April 2025

Life Insurance Corporation of India (LIC) has announced special measures to expedite claim settlements for the families affected by the April 22 terrorist attack in Pahalgam, Jammu & Kashmir. LIC will proactively reach out to claimants and prioritize quick disbursal of benefits.

To ease the process, LIC will accept government records or compensation proof as valid death documentation in place of formal death certificates. The insurer has also introduced concessions to reduce the burden on affected families. Claimants can seek assistance from the nearest LIC office or contact the LIC call centre at 022 68276827. LIC reaffirmed its commitment to supporting policyholders in times of distress by simplifying and accelerating the claim process.

22 April 2025

Planning for retirement just got easier with LIC’s Saral Pension Plan. This simple, government-standardized plan allows individuals aged 40 to 80 to secure a lifelong monthly pension of ₹12,000 or more through a one-time premium. Whether in the private or government sector, investing your provident fund or gratuity can ensure financial independence in your golden years. The plan offers flexible annuity options, monthly, quarterly, semi-annual, or annual, with minimum payouts starting at ₹3,000 quarterly. For instance, a 42-year-old investing ₹30 lakh can receive ₹12,388 monthly, as per LIC’s calculator.

With no hidden clauses and complete transparency, LIC Saral Pension ensures peace of mind post-retirement. It’s an ideal choice for anyone without a pension benefit at work but looking for a stable retirement income.

21 April 2025

India’s largest life insurer, LIC, has launched a powerful scheme designed specifically for daughters’ futures—LIC Kanyadan Policy. With a small daily saving of just ₹121, parents can build a fund of over ₹27 lakh by the time their daughter turns marriageable age. The plan comes with a maturity period ranging from 13 to 25 years, offering flexibility. For instance, if you start when your daughter is two, the policy could yield significant returns by the time she is 27.

Not just a savings plan, this policy also includes tax benefits under Section 80C and a financial safety net in case of the policyholder's untimely death, with a guaranteed sum assured. All you need is basic documentation, including Aadhaar and your daughter's birth certificate.

09 April 2025

Life Insurance Corporation of India (LIC) has launched a groundbreaking marketing technology (MarTech) platform as part of its ambitious Project DIVE (Digital Innovation and Value Enhancement). This strategic move aims to transform the way LIC engages with policyholders, prospects, and agents, offering hyper-personalized and seamless interactions across multiple channels.

With the new platform, LIC is setting the stage for a digital transformation that will redefine customer engagement in the insurance industry. LIC's MD and CEO, Siddhartha Mohanty, emphasized that the MarTech platform is more than just a technology upgrade—it’s a prudent shift that positions LIC as a global leader in digital insurance innovation.

As the first pillar of Project DIVE is now live, LIC is committed to delivering digital excellence and enhancing customer experiences worldwide.

08 April 2025

LIC’s brand-new Mutual Fund scheme offers an incredible opportunity to turn ₹1000 monthly into ₹86 lakh over 20 years. Tailored for middle-class investors, this plan lets you create a significant financial corpus through disciplined savings.

Operating under the Systematic Investment Plan (SIP), it promises an average annual return of 25%, allowing your ₹1000 investment to grow exponentially. Compared to traditional savings methods, LIC’s scheme offers a much higher return, thanks to its equity-based approach.

Backed by LIC’s trusted name, this plan presents a reliable way to secure your financial future.

28 March 2025

LIC’s entry into the standalone health insurance market is set to make a huge impact. The state-run insurer is finalizing plans to acquire a 40-49% stake in Manipal Cigna Health Insurance, a deal that could transform the sector.

With ManipalCigna valued at Rs 3,500 crore, LIC’s age-old financial strength and network will transport the company into the limelight, intensifying competition in India’s Rs 3 lakh crore general insurance market. This partnership with Ranjan Pai and Cigna Corporation signals a new chapter for LIC, which has long dominated life insurance but is now poised to disrupt the health insurance environment.

As health insurance grows rapidly, LIC’s strategic move comes at the perfect time to capture a larger share of this sector.

27 March 2025

Centrico Insurance Repository, a subsidiary of Central Depository Services Limited (CDSL), has partnered with the Life Insurance Corporation of India (LIC) to offer digital insurance repository services. This collaboration aims to simplify policy management by enabling policyholders to store, access, and modify their policies digitally.

The move is expected to promote a paperless and more efficient insurance experience. Centrico already works with 43 insurers, including 23 life insurance companies, and this partnership strengthens its network. LIC’s market leadership is also notable, with new business premiums reaching ₹3.36 trillion in FY25. This partnership marks a significant step towards digital transformation in the insurance sector.

25 March 2025

LIC's Jeevan Anand Policy offers a way to save ₹25 lakh with just ₹45 a day. By paying ₹1,358 monthly, or about ₹45 daily, over 35 years, policyholders can accumulate ₹25 lakh at maturity.

The policy offers various benefits, including a sum assured of ₹5 lakh, with additional bonuses of ₹8.6 lakh and ₹11.5 lakh. Over the 35-year period, you will invest ₹5.7 lakh in total, but the maturity amount could be much higher with bonuses.

While there are no tax exemptions, the policy offers multiple riders, such as Accidental Death and Disability, Accident Benefit, and Critical Illness coverage. A death benefit is also included, ensuring 125% of the policy amount for nominees in case of the policyholder's demise.

21 March 2025

In a strategic move to meet its long-term policy obligations, the Life Insurance Corporation of India (LIC) is in discussions with the Reserve Bank of India (RBI) for the introduction of ultra-long-term bonds, including 50-year and 100-year maturities. This follows the RBI’s recent approval for the issuance of 40-year bonds, a step that aligns with LIC's need for instruments matching the duration of its whole-life policies.

CEO Siddhartha Mohanty revealed that LIC’s negotiations with the RBI are ongoing, aiming to secure bonds with even longer tenures. These bonds are critical for LIC’s commitment to providing long-term financial security to policyholders, a key feature of its business model.

20 March 2025

Life Insurance Corporation of India (LIC) is in the final stages of discussions to acquire a substantial stake in a standalone health insurer. CEO Siddhartha Mohanty confirmed that a decision would likely be made by March 31, 2025, pending approval from the LIC board and regulators.

“We are in the final stages of discussion,” Mohanty said at the Global Conference of Actuaries in Mumbai. “We are aiming for a decision to be made before the end of this financial year. I’m confident the acquisition will take place soon.”

However, he clarified, “It will not be a majority stake, so LIC will not hold a controlling interest in the company.” The acquisition is part of LIC’s strategic push to diversify its offerings and solidify its footprint in India’s booming health insurance sector.

19 March 2025

LIC’s Jeevan Umang policy is an impressive plan, offering one of the highest returns in the market. By investing just Rs 1,302 per month, you can build a corpus of Rs 27.6 lakh over time. With coverage for up to 100 years, this policy is available to individuals aged between 3 and 55, with a minimum coverage amount of Rs 2 lakh. You can choose from flexible premium terms spanning 15 to 30 years. After 30 years, the policy promises an annual return of Rs 40,000, potentially growing to Rs 27.5 lakh.

Other policies like Jeevan Anand and Jeevan Shanti also offer excellent returns, making LIC a strong contender for future security.

11 March 2025

Life Insurance Corporation of India (LIC) has been ranked the third strongest insurance brand in the world, with a Brand Strength Index (BSI) score of 88 out of 100, according to the Brand Finance Insurance 100 report for 2025. Poland’s PZU topped the rankings, followed by China Life Insurance. LIC also secured the 12th spot globally for brand value, while SBI Life was ranked 76th, making them the only two Indian insurers in the top 100.

The global insurance market saw a 9% increase in brand value, driven by higher investment income, rising interest rates, and strategic mergers. LIC’s financial performance also improved, with a 17% increase in standalone net profit.

04 March 2025

The LIC New Jeevan Shanti Plan, a non-market-linked deferred annuity, provides guaranteed benefits and regular payouts. The plan offers flexible deferment periods for single and joint life annuities from 1 to 5 years. For a 42-year-old policyholder, the payouts for different investment amounts are as follows:

Monthly:
Rs 5 lakh: Rs 2,667-4,000
Rs 11 lakh: Rs 5,867-8,800
Rs 19 lakh: Rs 10,133-15,200
Rs 25 lakh: Rs 13,333-20,000
Rs 29 lakh: Rs 15,467-23,200
Yearly:
Rs 5 lakh: Rs 32,000-48,000
Rs 11 lakh: Rs 70,400-1,05,600
Rs 19 lakh: Rs 1,21,600-1,82,400
Rs 25 lakh: Rs 1,60,000-2,40,000
Rs 29 lakh: Rs 1,85,600-2,78,400
The plan also offers a death benefit with a minimum purchase price of Rs 1.5 lakh.

24 February 2025

LIC Mutual Fund is expecting strong growth in new investors, especially with the introduction of Pocket SIPs aimed at attracting younger shareholders. These flexible, smaller investment options will help individuals join the SIP bandwagon and consequentially build wealth over time.

LIC Mutual Fund MD & CEO RK Jha announced three key initiatives to draw young investors, calling them "game-changers" for the industry. He emphasized the importance of financial inclusion and the need to increase the number of unique investors in mutual funds from the current 5.5 crore to an ambitious projection of 25-50 crore. The Pocket SIP initiative or "Choti SIP," will make it easier for low-earning individuals to start investing at a pace that caters to their circumstances. Jha also highlighted the role of SEBI’s Tarun Yojana in raising awareness and promoting mutual funds and investing across the country.

23 February 2025

LIC Mutual Fund has declared the record date for its upcoming Income Distribution cum Capital Withdrawal (IDCW) under several schemes. The IDCW declaration's record date is 25 February 2025, and it will be applicable on the face value of Rs 10 per unit.

The IDCW amount for the LIC MF Aggressive Hybrid Fund Regular Plan (IDCW Option) will be Rs 0.10 per unit. The announcement comes as part of the mutual fund's ongoing efforts to provide returns to its investors. Unitholders are advised to keep track of the record date to be eligible for the distribution.

21 February 2025

The State Consumer Disputes Redressal Commission (SCDRC) has instructed the Life Insurance Corporation (LIC) of India to fulfil the promised maturity benefit to a Jeevan Saral policyholder. The commission rejected LIC’s defence of a bona fide error for leaving the maturity amount column blank in the policy document.

The case arose from an appeal by LIC against the Pathanamthitta District Consumer Redressal Commission’s order to compensate the policyholder. The woman had paid Rs 1,22,480 for the policy, which matured in May 2017, based on LIC’s assurance of a Rs 2.50 lakh maturity amount. However, LIC later offered only Rs 1,06,230, claiming the higher amount applied only to death benefits. The SCDRC ruled in favour of the consumer, ordering the company to honour its promise.

19 February 2025

State-owned Life Insurance Corporation of India (LIC) has introduced a new single-premium pension plan that offers a range of annuity options for both Single Life and Joint Life annuities. The plan, launched by Financial Services Secretary M Nagaraju and LIC CEO Siddhartha Mohanty, provides flexibility with several liquidity options, including partial and full withdrawals.

The plan's minimum purchase price is set at ₹1,00,000, with incentives for higher purchase prices. Annuitants can choose payment modes such as yearly, half-yearly, quarterly, or monthly. A special feature includes the option for National Pension Scheme (NPS) subscribers to take an immediate annuity. The plan offers customized survival and death benefits options, including lump sum payments or annuitization options.

10 February 2025

Shares of Life Insurance Corporation of India (LIC) surged after the company reported a 16% year-on-year (YoY) growth in consolidated net profit for the December quarter, reaching ₹11,009 crore.

However, the net premium income dropped by 9% YoY to ₹1,07,302 crore. The company’s profit after tax (PAT) rose by 42% compared to the previous quarter. Despite challenges from new surrender regulations, LIC's strong margin profile and revamped product strategies have sparked positive investor sentiment. Brokerages expect up to 33% upside potential, with a revised target price of ₹1,100.

04 February 2025

Life Insurance Corporation of India witnessed a surge in its stock price on February 1, following Finance Minister Nirmala Sitharaman's Budget 2025 announcement to raise the foreign direct investment (FDI) limit in the insurance sector to 100%.

The move is expected to attract global investors, boosting capital inflow and enhancing LIC's market position. Industry experts believe this decision will drive growth, increase competition, and improve insurance penetration in India. LIC's stock traded higher in intraday sessions, reflecting positive investor sentiment toward the policy change.

29 January 2025

The Life Insurance Corporation of India offers the Jeevan Anand policy, a long-term investment plan that offers the combined benefits of life insurance and savings.

By investing just Rs 45 per day (Rs 1358 per month), policyholders can accumulate Rs 25 lakh upon maturity. The policy has a term of 15 to 35 years and includes benefits such as accident and disability riders. Additionally, the plan offers a revisionary and final bonus, significantly increasing the maturity amount.

28 January 2025

Life Insurance Corporation of India (LIC) set a new benchmark on its 69th foundation anniversary, selling over 6 lakh policies in a single day on January 20, 2025. This remarkable feat generated ₹1.04K crore in premiums, showcasing LIC's unmatched dominance in India's insurance sector.

Powered by its extensive network of 4.5 lakh agents, the event, dubbed “Mad Million Day,” highlighted LIC’s legacy and the unwavering trust of its policyholders. Celebrated annually, the initiative reflects LIC’s commitment to securing financial futures across generations, further solidifying its leadership in the insurance market.

20 January 2025

Life Insurance Corporation of India has introduced an affordable plan for low-income groups. With this plan, you can secure a life insurance cover of up to ₹1 lakh by paying just ₹500 per month as a premium.

The policy term ranges from 5 to 20 years. In the event of the policyholder’s demise, the nominee will receive ₹1 lakh as a benefit. To apply, visit your nearest LIC office, fill out the application form, and activate auto-debit for seamless premium payments. This plan offers a cost-effective and straightforward way to ensure financial security for families.

09 January 2025

LIC's Bima Sakhi Yojana, launched by Prime Minister Narendra Modi, has gained significant momentum, with over 50,000 registrations in just one month. As of the end of the first month, a total of 52,511 registrations have been recorded, with 27,695 Bima Sakhis receiving appointment letters to sell policies.

Additionally, 14,583 Bima Sakhis have already begun selling policies. LIC aims to cover every panchayat across the country with at least one Bima Sakhi within a year. The initiative empowers women by offering them training, digital tools, and financial incentives. Bima Sakhis are provided with a monthly stipend of Rs 7,000 in the first year, gradually decreasing over the next two years, alongside commission-based earnings based on their sales.

08 January 2025

Goa Chief Minister Pramod Sawant launched the ‘Bima Sakhi Yojana’, making Goa the second state after Haryana to adopt this initiative by Prime Minister Narendra Modi. The scheme, led by LIC, empowers women aged 18-70 by providing specialized training and a stipend to promote financial literacy and insurance awareness. Beneficiaries, known as Bima Sakhis, will earn up to Rs 2.16 lakh over three years and can become LIC agents or development officers. CM Sawant emphasized its dual focus on women’s empowerment and enhancing life insurance penetration, urging Goan women to join the mission toward ‘Viksit Bharat 2047’.

07 January 2025

LIC’s Jeevan Akshay 7 Plan offers retirees a secure monthly income through a one-time premium payment. Available to individuals aged 25-85, it provides flexible annuity options, tax benefits under Section 80CCC, and choices for pension frequency. Online investments start at ₹1.5 lakh, while offline begins at ₹1 lakh. Essential documents include ID, income, and address proofs.

03 January 2025

The Life Insurance Corporation of India (LIC) has launched the Golden Jubilee Scholarship Scheme 2024 for students from economically weaker families. The scholarship is available to students pursuing higher education in medicine, engineering, graduation, diploma, and vocational courses in government-recognized institutions, including ITIs.

Eligibility:

• Minimum 60% marks in Class 10/12 or vocational/diploma exams (2021-22, 2022-23, or 2023-24).
• Family income below ₹2,50,000 per year (₹4,00,000 for single mothers/widows).

Scholarship Amount:

• Medicine: ₹40,000/year
• Engineering: ₹30,000/year
• Other Courses: ₹20,000/year
• Girl Child (special): ₹15,000/year

Applications can be submitted online at official website.

Take advantage of this opportunity to support your education!

25 November 2024

The Life Insurance Corporation of India (LIC) has raised its stake in IT giant LTIMindtree, increasing its shareholding from 5.033% to 7.034%. This was achieved through open market purchases of 59,27,344 shares at an average price of ₹4,950.81 between March 20 and November 19, 2024.

Following this announcement, LTIMindtree's stock rose nearly 1%, closing at ₹5,954.45 on November 22. The company recently reported a 7.7% year-on-year increase in net profit for Q2 FY25, reaching ₹1,251 crore. LTIMindtree has shown steady performance, with revenue rising 6% YoY to ₹9,432.9 crore.

11 December 2024

Prime Minister Narendra Modi has launched the Bima Sakhi Yojana, an initiative by LIC to promote financial literacy and insurance awareness among women.

The yojana aims to empower rural women by training them as insurance agents (Bima Sakhis) who will educate and enrol other women in life insurance policies, ensuring financial protection for their families.

21 November 2024

Life Insurance Corporation of India (LIC) announced it has no plans to implement a clawback clause for agent commissions, despite revising surrender value norms effective October 1, 2024. LIC has realigned its distributor commission, reducing first-year payouts from 35% to 28%, while increasing renewal commissions to 7.5%.

Additionally, the minimum sum insured under new policies has doubled to ₹2 lakh. The clawback clause, often used to recover agent commissions on prematurely surrendered policies, remains off the table. LIC also revealed plans to enter the bond forward rate agreement market soon, collaborating with multiple banks to manage interest rate volatility.

20 November 2024

Life Insurance Corporation of India (LIC) plans to enter the standalone health insurance sector by finalizing a stake acquisition within the current financial year, according to CEO Siddhartha Mohanty.

Speaking at a post-results conference, Mohanty highlighted ongoing groundwork and evaluations for a suitable firm. The investment scale will hinge on valuations, and LIC's board approval will follow due diligence. This move aligns with discussions around composite insurance licenses, enabling life insurers to offer broader coverage, including hospitalization. Such reforms, proposed by a parliamentary committee, aim to streamline operations and enhance customer offerings across the insurance industry.

06 November 2024

Life Insurance Corporation of India has reduced the maximum entry age for its New Endowment Plan-914 from 55 to 50 years, effective October 1, 2024. This participating endowment plan offers protection and savings, with a minimum entry age of 8 years.

Additionally, LIC raised the minimum sum assured from ₹1 lakh to ₹2 lakh and adjusted premiums by 8-10% on average. The plan provides death and maturity benefits and is eligible for bonuses based on LIC's investment performance. LIC also launched a new micro-term insurance plan catering to financial groups and unorganized sector members.

17 September 2024

Infosys will create a cutting-edge digital platform for Life Insurance Corporation (LIC) as part of its DIVE initiative (Digital Innovation and Value Enhancement).

This platform, using Infosys Topaz's AI and Infosys Cobalt’s DevSecOps services, will modernize LIC’s systems. It will support better customer engagement, improve efficiency, and facilitate quick integration with FinTech and Bancassurance partners. LIC CEO Siddhartha Mohanty called the partnership a major step in their digital evolution. Infosys CEO Salil Parekh emphasized that their goal is to build a strong digital foundation to enhance LIC's operations and market adaptability.

10 September 2024

Life Insurance Corporation of India (LIC) saw a 35% rise in new business premiums for August 2024, reaching Rs 19,309 crore, up from Rs 14,293 crore last year. Group Yearly Premium collections soared by 291% to Rs 702.52 crore.

For the first five months of FY25, new business premiums increased by 27.73% to Rs 95,181 crore. Individual premiums rose by 4.6% to Rs 5,047 crore, while Group Premiums jumped 46% to Rs 13,559 crore. Despite a slight 4.45% drop in policy numbers for August, overall policy issuance grew by 3.65% in FY25 so far.

29 August 2024

On August 27, 2024, shares of major life insurance companies saw gains with LIC up by 3.6%, SBI Life by 2.9%, ICICI Prudential Life by 2.7%, and HDFC Life by 2%. This reason behind the surge was the news that LIC has requested the Insurance Regulatory and Development Authority (IRDAI) to revise its surrender value guidelines.

LIC seeks an increase in the interest rate and G-Sec assumptions for calculating surrender values. Effective from October 2024, new norms will raise the surrender value payout ratio to 75-80% and introduce enhanced payouts after the first policy year.

27 August 2024

With LICJeevan Shiromani, you can earn up to Rs. 1 Crore in just four years. This plan offers survival and death benefits, which means that if the policyholder passes away during the policy term, the nominee will receive the insurance amount.

On the other hand, the plan also offers survival benefits to the policyholder surviving till the end of the policy term. The plan allows for annual, semi-annual, quarterly, or monthly premium payments for high-net-worth individuals.

22 August 2024

Life Insurance Corporation of India (LIC) has unveiled a new facility allowing policyholders to surrender their LIC policies without losing their insurance cover.

This new feature is designed to provide more flexibility and security for policyholders who may need to discontinue their policies but still wish to retain some level of insurance protection. This initiative reflects LIC's commitment to enhancing customer service and adapting to changing financial needs.

14 August 2024

The Life Insurance Corporation of India (LIC) has unveiled new term insurance products tailored specifically for the younger demographic. Aimed at individuals aged 18 to 35, these plans are designed to offer affordable coverage with flexible terms and benefits.

The products include features such as customizable policy durations and sum assured options, catering to younger policyholders' financial needs and goals. This initiative is part of LIC's strategy to attract and engage younger customers by providing them with accessible and versatile insurance solutions.

13 August 2024

Life Insurance Corporation (LIC) has introduced its new Digi Term Insurance Plan, designed to offer comprehensive online coverage with a focus on simplicity and convenience.

This digital plan is available to individuals aged 18 to 65 and covers up to 40 years. Premiums can be paid annually, semi-annually, or monthly. The plan includes benefits such as a high sum assured and additional features like accidental death benefits and premium waiver options. This move aims to streamline the process for policyholders and enhance accessibility to life insurance.

06 August 2024

On August 5, 2024, LIC of India introduced new insurance plans, including LIC’s Yuva Term and Digi Term, available offline and online, respectively. These plans aim to cater to young policyholders seeking term insurance.

Additionally, LIC unveiled Yuva Credit Life for covering loan liabilities offline, and Digi Credit Life exclusively online. CEO and MD Siddhartha Mohanty announced the launch, emphasizing the plans' benefits like high sum assured rebates and special premium rates for women. Yuva Term offers a minimum sum assured of Rs. 50 lakhs, while Yuva Credit Life provides coverage tailored to loan repayments.

05 August 2024

The Life Insurance Corporation of India (LIC) has alerted policyholders about a scam where people are being asked to sell their current insurance policies. Scammers promise high returns or better deals, but these offers are often fraudulent.

LIC advises policyholders to be cautious and verify any offer through official channels before making decisions. The company urges people not to share personal information or financial details with unknown individuals and to contact LIC directly if they receive such offers. Protecting your insurance policy and personal details is crucial to avoid potential fraud.

11 July 2024

Despite rising share prices on dividend expectations, LIC shareholders are urged to update their PAN and bank account details by July 19, 2024. Failure to do so could result in higher TDS deductions on dividend income.

LIC's Board recommended a dividend of Rs 6 per share for FY 2023-24, pending approval at the AGM on August 22, 2024. Ensure your PAN is linked with Aadhaar to avoid tax implications. Visit LIC's website for updates and compliance details.

10 July 2024

A new opportunity has emerged for Life Insurance Corporation of India (LIC) policyholders considering surrendering their endowment policies. ACESO Endowment Services has introduced a unique programme called Assignment of Life Insurance Policies (ALIP).

Under ALIP, policyholders can assign their LIC policies to ACESO’s India Endowment Policy Trust and receive the surrender value within 48 hours. ALIP is distinct because it allows policyholders to retain life-cover benefits even after surrendering their policies. This means beneficiaries will still receive the life insurance cover amount in case of the policyholder’s demise, while no further premiums need to be paid.

05 July 2024

Life Insurance Corporation of India has unveiled 'Jeevan Samarth', an initiative aimed at revitalizing its agency ecosystem. LIC plans a comprehensive overhaul of its agency structure from branch to zonal levels in collaboration with a global consulting firm.

This transformation aims to integrate international best practices amidst the evolving insurance landscape. Moreover, the company has emphasized empowering agents with enhanced tools and skills to better serve Indian families and have encouraged young professionals to consider life insurance marketing as a rewarding career, inviting them to shape the industry's future.

01 July 2024

Insurance giant Life Insurance Corporation of India has secured the 4th spot in the Brand Finance India 100 2024 report, with a brand value of $9.8 billion. The report highlights LIC's strong brand strength index score of 88 and an AAA rating.

LIC also maintains its lead in the insurance sector, topping the insurance brand's ranking. The government currently holds 96.50% of LIC shares, with plans to increase public shareholding by May 2027. LIC recently debuted on the stock market, with the government selling a 3.5% stake through an IPO, raising Rs 20,557 crore.

13 June 2024

Dreaming of a big payout with small savings? LIC's Jeevan Anand policy offers just that. By investing as little as Rs 45 daily or Rs 1358 monthly, you can secure a whopping Rs 25 lakh after 35 years.

With a policy term of 15 to 35 years, this LIC policy promises a sum assured of Rs 5 lakh, along with hefty bonuses. Plus, enjoy added benefits like riders for accidental death and disability. Secure your future today with LIC!

05 June 2024

LIC policyholders can now easily surrender their policies and get their surrender value within 48 hours using the new ALIP app by ACESO.

This app also provides other services like year-by-year life coverage benefits and information for nominees if the policyholder passes away. The entire process, including documentation and KYC, is done online, making it hassle-free for policyholders and LIC agents.

28 May 2024

Experts believe LIC's stock could surge by 20% following SEBI’s decision to extend its deadline for meeting the 10% public shareholding rule by three years. This means LIC has more time to sell its shares to the public.

The extension eases pressure on LIC and shows regulators understand the challenges LIC faces. Investors are optimistic about LIC's future and see this extension as a positive sign. It's a reminder that regulatory decisions can impact stock prices and investor confidence. Keep an eye on LIC's progress as it navigates this regulatory landscape.

27 May 2024

236 companies, including LIC, NMDC, and Natco Pharma, will reveal their fourth-quarter earnings. These results provide a peek into how well companies performed in the last quarter.

LIC's report is of particular interest as it's a big player in insurance. Investors watch these announcements closely as they impact stock prices and market sentiment. It's a chance to see if companies meet expectations and how they plan to move forward.

23 May 2024

Life Insurance Corporation of India’s Saral Pension scheme is a simple yet effective solution for your post-retirement years. With a one-time premium payment, individuals aged 40 to 80 can ensure a steady stream of income for life.

Suppose you are an individual aged 60; you can invest Rs 10 lakh and opt for the annual annuity mode. Then, in this scenario, you will receive Rs 58,950. Choose between individual or joint annuity options and enjoy peace of mind knowing that your retirement is secured.

12 March 2024

Secure the future of your loved ones and fulfill all your future milestones with LIC SIIP. This unit-linked plan is designed to address your investment requirements, offering a range of benefits.

Enjoy the flexibility of free switches between funds, choose from four fund options, and enhance coverage with add-on rider benefits. Additionally, the plan also offers tax benefits that helps in optimizing your financial planning. Open to individuals aged 90 days to 65 years, the LIC SIIP Plan caters to a every individuals’s insurance needs. Start investing today for a secure and rewarding financial future.

04 March 2024

LIC’s Jeevan Akshay Policy offers a monthly pension of ₹20,000 for a lifetime with a one-time investment. This policy stands out as policyholders need not pay monthly

premiums, making it a popular choice. With an investment of ₹40,72,000, investors start receiving the pension benefits immediately. In case of the policyholder's demise, the family receives financial support.

27 February 2024

Invest just Rs 1600 per month in LIC's Aadharshila policy designed exclusively for women aged 8 to 55.

or a monthly investment of Rs 1600, a 21-year-old could accumulate Rs 6.62 lakh on maturity, combining a basic sum assured of Rs 5 lakh and a loyalty addition of Rs 1,62,500. The plan offers flexibility with a policy term of 10 to 20 years and extends benefits to Aadhaar cardholders. Nominee benefits include the sum assured and loyalty additions in case of the policyholder's demise.

26 February 2024

LIC introduces the Index Plus policy, a unit-linked, regular premium, individual life insurance plan offering a blend of life coverage and savings throughout the policy term.

The plan boasts guaranteed additions as a percentage of the annualized premium, enhancing the unit fund at specified intervals. With a minimum entry age of 90 days and flexible premium payment options, policyholders can opt for partial withdrawals after a five-year lock-in period. The policy allows selection between Flexi Growth Fund and Flexi Smart Growth Fund for initial and switching investments. Available offline through agents or online, the plan provides financial flexibility and security.

20 February 2024

Life Insurance Corporation of India (LIC) has launched its latest offering, the Amritbaal Children Plan 874, a unique endowment policy designed to secure your child's education and future needs. The policy, available both offline and online from February 17, 2024, caters to children aged 30 days to 13 years.

With guaranteed additions of Rs 80 per thousand basic sum assured annually, the policy ensures a substantial corpus accumulation. The flexible premium payment terms of 5, 6, or 7 years and the option for limited premium payment make it a versatile choice. Maturity amounts, along with guaranteed additions, can be received in installments over 5, 10, or 15 years. Additionally, LIC's premium waiver benefit rider offers added financial security.

06 February 2024

LIC of India has unveiled LIC Index Plus, a unit-linked, non-participating, individual life insurance plan. LIC's Index Plus is a regular premium plan providing life insurance cover coupled with savings throughout the policy term, featuring guaranteed additions.

The product offers a choice between two funds, namely Flexi Growth Fund and Flexi Smart Growth Fund, for initial premiums and switching.
The plan caters to the domestic market, with a minimum entry age of 90 days. Entry age ranges up to 50 or 60 years, depending on the basic sum insured. Premiums start from Rs. 30,000 annually, with policy terms spanning from 10 to 25 years. Policyholders can opt for partial withdrawals, and on maturity, an amount equal to the unit fund value is payable. LIC Index Plus presents a comprehensive and flexible solution, providing financial security and investment opportunities to policyholders.

30 November 2023

LIC has unleashed its latest gem – the Jeevan Utsav Plan, a whole life insurance plan offering that promises a combinarionn of protection and savings. In the unfortunate event of the life assured's demise, the Death Benefit of Jeevan Utsav ensures a safety net for the family.

Comprising the "Sum Assured on Death" and accrued Guaranteed Additions, it guarantees financial support. Not just this, the plan offers survival benefits that come in two options – Regular Income Benefit or Flexi Income Benefit. The plan provides a consistent income stream, while the latter offers flexibility in choosing benefits. What's more, the plan ensures steady growth with guaranteed additions accruing annually during the Premium Paying Term. Secure your tomorrow with LIC's Jeevan Utsav – where protection meets prosperity!

06 September 2023

LIC New Jeevan Shanti offers a Lifetime Pension with Just a One-Time Investment. As an illustration, if a 55-year-old individual invests 11 lakh rupees in this plan and holds it for five years, they could receive an annual pension of more than Rs.1,01,860.

The monthly pension based on a six-month interval would be Rs. 49,911, with a monthly payout of Rs.8,149. This annuity plan is suitable for individuals of various age groups who wish to secure their financial future and enjoy a worry-free retirement.

28 July 2023

To provide enhanced benefits to policyholders, the Life Insurance Corporation of India (LIC) has introduced its latest plan, 'Jeevan Kiran.' According to the company, the policy offers a unique combination of life cover and premium returns, making it an attractive option for individuals seeking comprehensive insurance solutions.

Under the LIC Jeevan Kiran plan, policyholders can avail of a life cover throughout the policy term, ensuring financial security for their loved ones in case of any unfortunate event. Additionally, upon maturity, the plan promises the return of premiums paid during the policy period, subject to the policy's terms and conditions. LIC's 'Jeevan Kiran' aims to cater to customers' evolving needs, combining the benefits of life insurance with a savings element, thus offering a holistic and rewarding insurance experience.

25 July 2023

Under the LIC Dhan Vriddhi scheme, eligible policyholders can now claim up to Rs. 1.5 lakh under Section 80C. This new provision allows policyholders to enjoy significant tax savings while securing their financial future.

The scheme has garnered attention for its attractive returns and tax-efficient nature, making it an appealing investment option. Policyholders can benefit by investing in the LIC Dhan Vriddhi scheme and maximising their tax savings.

18 July 2023

The Life Jeevan Labh promises an impressive return on a minimal investment. Yes, you heard it right. By making a payment of Rs 252, policyholders can now receive a staggering Rs 5,400,000 on maturity.

This LIC policy aims to provide financial security and substantial returns to individuals nationwide. The plan secures your financial future and ensures your family’s needs are met after your demise.

26 June 2023

Life Insurance Corporation of India (LIC) has introduced a new plan named Dhan Vridhhi. This single premium policy offers guaranteed returns to policyholders. The plan is designed to provide financial security and growth opportunities to individuals. Policyholders can make a one-time premium payment and enjoy the benefits of a guaranteed maturity amount.

LIC's Dhan Vriddhi policy offers policyholders the flexibility to select from two sum-assured options: 1.25 times the premium amount (option 1) or 10 times the premium amount (option 2), with a minimum sum assured of Rs 1.25 lakh. The policy is available for individuals aged between 90 days and eight years as the minimum entry age, while the maximum entry age ranges from 32 years to 60 years. This single premium policy provides policyholders with a choice of three tenure options: 10 years, 15 years, or 18 years. It allows individuals to make a one-time premium payment and enjoy the policy's benefits throughout the chosen tenure.

23 June 2023

LIC Dhan Sanchay is an endowment policy whose premium features and comprehensive benefits offer a secure future for policyholders. The plan provides guaranteed additions and a life cover to ensure financial stability.

With flexible premium payment options and customizable policy terms, it caters to the diverse needs of individuals. Moreover, the policy offers additional riders, such as critical illness and accident benefits, ensuring comprehensive coverage.

19 June 2023

To mitigate the hardships of the policy claimants and Pradhan Mantri Jeevan Jyoti Bima Yojana affected by Cyclone Biparjoy, LIC on Saturday announced the relaxations and concessions for the victims of Biparjoy Cyclone.

In a recent interview, LIC's Chairperson Siddhartha Mohanty stated that, due to the pre-emptive actions taken, there has been minimal loss of lives. However, LIC is currently reaching out to the affected individuals in order to provide the necessary assistance during this time of need.
LIC has recently introduced an online portal for submitting claims related to the damages caused by the Biparjoy Cyclone. This portal allows individuals affected by the cyclone to conveniently submit their claims electronically.

08 June 2023

With LIC New Jeevan Anand, secure the future of your loved ones with a guaranteed maturity amount. The plan allows the policyholder to avail the benefits of both life protection and investments under the same plan.

Along with the sum assured, the plan also offers a Simple reversionary and a final additional bonus.

05 June 2023

The recently launched plan LIC Jeevan Azad is designed to provide protection and financial benefits. If an individual will pay premiums over the course of 10 years for an 18-year insurance

term, he will receive the basic sum assured at the time of maturity. In such a case, a policyholder can receive a basic sum-assured amount that is guaranteed for the insured person's live life on the maturity date.