The Life Insurance Corporation of India (LIC) has achieved a significant milestone by receiving the ISO 22301:2019 Business Continuity Management System (BCMS) certification from the British Standards Institution (BSI). This certification is a testament to LIC’s commitment to maintaining its operations and services during disruptions, ensuring minimal impact on its customers, employees, and stakeholders.

The ISO 22301:2019 standard is an international benchmark for business continuity management, which enables organizations to develop, implement, and maintain a robust BCMS. The certification process involves a thorough assessment of an organization’s ability to respond to and recover from potential disruptions, such as natural disasters, cyber-attacks, or pandemics.

LIC’s achievement of the ISO 22301:2019 certification demonstrates its preparedness to face any disruption and ensure continuity of its operations. The certification covers LIC’s headquarters, zonal offices, and divisional offices across the country. The assessment was conducted by BSI, a leading certification body, which evaluated LIC’s BCMS against the requirements of the ISO 22301:2019 standard.

The certification is a significant accomplishment for LIC, as it underscores the organization’s commitment to maintaining the trust and confidence of its customers, employees, and stakeholders. With over 290 million policyholders and a vast network of agents, LIC is one of the largest life insurance companies in the world. The certification ensures that LIC’s customers can rely on the organization to provide uninterrupted services, even in the face of unexpected disruptions.

The ISO 22301:2019 certification is also a reflection of LIC’s proactive approach to risk management and its focus on maintaining business continuity. The organization has implemented a robust BCMS, which includes processes and procedures to identify, assess, and mitigate potential risks. The certification is a result of LIC’s ongoing efforts to enhance its risk management capabilities and ensure the continuity of its operations.

In conclusion, the ISO 22301:2019 certification is a significant achievement for LIC, demonstrating its commitment to business continuity and risk management. The certification ensures that LIC’s customers can rely on the organization to provide uninterrupted services, even in the face of unexpected disruptions. With this certification, LIC has reinforced its position as a leader in the life insurance industry, and its customers can trust the organization to maintain its operations and services, no matter what challenges may arise.

The Life Insurance Corporation (LIC) of India has announced the appointment of Mr. Ramakrishnan Chander as its new Chief Investment Officer (CIO). This appointment was reported by the Business Standard, a leading Indian business newspaper. Mr. Chander will serve in this position until his superannuation, which is scheduled to take place on September 30, 2027.

Mr. Chander is a veteran employee of LIC, having joined the organization in 1990 as an Assistant Administrative Officer. Over the years, he has held various key positions within the company, demonstrating his expertise and leadership skills. Some of his notable roles include serving as Senior Divisional Manager of the Nagpur and Hyderabad divisions, Regional Manager (Marketing) in the South Zone, and Regional Manager (Pension and Group Schemes) in the South Central Zone.

Most recently, Mr. Chander was the Executive Director of LIC’s Strategic Business Unit, International Operations. This experience has likely equipped him with the skills and knowledge required to excel as CIO. In this role, he will be responsible for overseeing the investment strategies and decisions of LIC, which is one of India’s largest and most respected insurance companies.

Mr. Chander’s educational background and professional qualifications also make him an ideal candidate for this position. He holds a post-graduate diploma in Financial Management and is a Fellow of the Insurance Institute of India. These credentials demonstrate his expertise in financial management and insurance, and his ability to make informed investment decisions.

The appointment of Mr. Chander as CIO is a significant development for LIC, and is expected to have a positive impact on the company’s investment strategies and growth. With his experience, skills, and qualifications, Mr. Chander is well-equipped to lead LIC’s investment efforts and contribute to the company’s continued success.

The Life Insurance Corporation (LIC) and the state government of Hyderabad are in a dispute over the payment of insurance premiums for the Rythu Bima scheme, a life insurance program for farmers. The scheme provides a life insurance cover of Rs 5 lakh to 45 lakh farmers, and the state government is responsible for paying the premium. However, due to financial constraints, the government has requested LIC to allow payment in installments, which the insurance company has rejected.

The LIC has cited the agreement between the state government and the insurance company, which states that the entire premium amount must be paid at one time to renew the scheme every year. As a result, over 200 applications from farmers’ families seeking insurance benefits are pending, and the scheme’s renewal for this year is uncertain. The government was supposed to pay around Rs 1,300 crore for the renewal of the scheme, which is a significant burden.

The state government has held several meetings with LIC officials to try to convince them to accept the premium payment in installments, but so far, the insurance company has not given a positive response. The Agriculture Department has informed the Chief Minister’s Office about LIC’s reluctance to renew the scheme, and the issue is awaiting a response. If the state government fails to resolve the issue before the end of the first quarter of this financial year in June, the LIC has warned that the insurance scheme can be scrapped.

The Rythu Bima scheme has been successful since its launch in 2018, with over 1.10 lakh families of farmers availing of the scheme benefits, and the implementing agency distributing around Rs 5,700 crore till the end of the financial year 2024-25. The scheme’s continuation is crucial for the welfare of farmers in the state, and the government must address the issue immediately to avoid any disruption. The Finance Department must find a solution to pay the premium amount to ensure the scheme’s renewal and maintain the trust of farmers in the government’s initiatives.

The Financial Services Institutions Bureau (FSIB) has recommended R. Doraiswamy, the current Managing Director of Life Insurance Corporation of India (LIC), for the position of Chief Executive Officer and Managing Director (CEO & MD) at LIC. This recommendation was made after FSIB interviewed four candidates from LIC on June 11, 2025, for the top position. According to FSIB, Doraiswamy’s performance during the interview, his overall experience, and the existing parameters made him the ideal candidate for the role.

Doraiswamy has an impressive background, with 38 years of experience in various fields, including operations, marketing, technology, and academics. He is a graduate in Mathematics from Madurai Kamaraj University. During his tenure, he has been instrumental in implementing several key projects, such as the Employee’s Front End Application Program (eFEAP) Next, centralization of ULIP systems, and automation of repetitive processes. Prior to his current role as Managing Director, Doraiswamy served as Executive Director (Information Technology/Software Development) and headed the southern zonal office in Chennai.

The recommendation for Doraiswamy’s appointment comes after the end of Siddhartha Mohanty’s term as MD and CEO of LIC on June 7. Following Mohanty’s departure, the government appointed Sat Pal Bhanoo as the interim MD and CEO of LIC for a three-month term, effective from June 8 to September 7, 2025. With Doraiswamy’s recommendation, he is likely to take over as the permanent CEO and MD of LIC, subject to the government’s approval. His experience and qualifications make him a strong candidate to lead one of India’s largest insurance companies. The final decision on his appointment is awaited, and it is expected that he will bring his expertise and vision to drive LIC’s growth and success in the future.

The Life Insurance Corporation of India (LIC) has achieved a Guinness World Record for selling the most life insurance policies in 24 hours. On January 20, 2025, the corporation’s agents sold a record 5,88,107 life insurance policies across India. This feat was verified by Guinness World Records (GWR) and recognized the outstanding performance of LIC’s dedicated agency network.

The record-breaking sales were part of an initiative called “Mad Million Day” where agents were encouraged to complete at least one policy on January 20, 2025. A total of 4,52,839 agents participated in this effort, resulting in an unprecedented number of policies being sold in a single day. This achievement sets a new global benchmark for agent productivity in the life insurance industry within a 24-hour period.

Siddhartha Mohanty, CEO & MD of LIC, stated that this achievement reflects the corporation’s commitment to providing vital financial protection to its customers and their families. The record sale of life insurance policies demonstrates the corporation’s dedication to its mission and highlights the hard work and dedication of its agents.

The Guinness World Record title is a testament to LIC’s position as India’s largest life insurer. The corporation’s ability to sell nearly 6 lakh policies in a single day showcases its vast reach and influence in the Indian insurance market. This achievement is expected to further boost LIC’s reputation and encourage more people to consider life insurance as a vital part of their financial planning.

The record was officially announced on May 24, 2025, and it is a significant milestone for LIC. The corporation’s agents and employees can take pride in their achievement, which is a result of their tireless efforts to provide financial protection to millions of Indians. With this record, LIC has once again demonstrated its leadership in the life insurance industry and its commitment to serving the nation.

The Life Insurance Corporation of India (LIC), a public sector insurance firm with a market capitalization of over Rs 5.4 lakh crore, has achieved a remarkable feat by earning a Guinness World Record title for the most life insurance policies sold in 24 hours. On January 20, 2025, a total of 452,839 agents of LIC successfully issued an astonishing 588,107 life insurance policies across India, setting a new global benchmark for agent productivity in the life insurance industry.

This achievement is a testament to the dedication, skill, and tireless work ethics of LIC’s agents, who worked relentlessly to provide vital financial protection to their customers and their families. The record attempt was the result of an initiative by LIC’s Managing Director and CEO, Siddhartha Mohanty, who appealed to every agent to complete at least one policy on ‘Mad Million Day’ on January 20, 2025.

LIC is the largest life insurance company in India, and this achievement reflects its deep commitment to its mission of providing financial protection to its customers. The company’s agents have demonstrated their capabilities and productivity, and this record-breaking achievement is a powerful validation of their hard work and dedication.

The Guinness World Records verification and recognition of this achievement is a significant milestone for LIC, and it underscores the company’s position as a leader in the life insurance industry. The record-breaking feat is also a tribute to the customers, agents, and employees who worked together to make ‘Mad Million Day’ a historic success. Siddhartha Mohanty, LIC’s MD and CEO, thanked all stakeholders for their contributions, saying that the achievement reflects the company’s commitment to its mission and values. Overall, this achievement is a significant milestone for LIC and a testament to the power of teamwork and dedication.

The latest financial reports indicate a strong performance by India’s public sector units (PSUs), with several companies recording robust profit growth. LIC India, the country’s largest insurer, has reported a consolidated net sales of Rs 243,134.49 crore for the quarter ended March 2025, representing a 1.85% year-over-year (Y-o-Y) increase.

Notably, LIC India has emerged as the most profitable government company in India, surpassing other major PSUs such as State Bank of India (SBI), Steel Authority of India Limited (SAIL), National Thermal Power Corporation (NTPC), Oil and Natural Gas Corporation (ONGC), Coal India, and Bharat Heavy Electricals Limited (BHEL).

The company’s strong performance is further evident from its fourth-quarter (Q4) profit, which surged 38% to a record Rs 19,013 crore. This significant increase has solidified LIC’s position as the top-performing PSU in India, with the company’s Q4 profit outpacing its peers.

The robust profit growth of India’s top PSUs, including LIC, is expected to strengthen the government’s fiscal position. As these companies continue to perform well, they are likely to contribute significantly to the government’s revenue through dividend payments and other means.

The strong financial performance of PSUs like LIC is a testament to the government’s efforts to revitalize and reform the public sector. With the Indian economy poised for growth, the PSUs are well-positioned to capitalize on emerging opportunities and drive the country’s development.

The impressive Q4 performance of LIC has earned it the top spot among PSUs, followed by other major companies. The exact rankings may vary, but LIC’s dominance in the sector is undeniable. As the company continues to expand its operations and explore new business avenues, it is likely to maintain its position as a leader in the Indian PSU space. Overall, the strong performance of LIC and other PSUs bodes well for the Indian economy and the government’s fiscal position, with potential for continued growth and development in the future.

The Life Insurance Corporation of India (LIC) offers a popular investment scheme called “Jeevan Anand Policy” that provides a safe and profitable way to collect funds worth lakhs of rupees with a daily deposit of just ₹200. This policy is a term maturity plan, where the policyholder pays a premium for a specified period, such as 30 years, and receives a lump sum amount at the end of the term.

With a daily premium of ₹200, policyholders can collect a fund of approximately ₹30 lakhs over a period of 30 years. This policy also provides a strong shield of financial security for the policyholder’s family in case of an emergency, as it pays out 125% of the basic sum assured or 125 times the amount of premium deposited till death to the nominee if the policyholder passes away during the term.

One of the key benefits of the Jeevan Anand Policy is that it offers a bonus on the deposit amount, providing an additional source of income. The policy is available to individuals between 18 and 50 years old, and policyholders can choose a term ranging from 15 to 35 years. The policy also offers flexible payment options, including monthly, quarterly, half-yearly, and yearly payments.

Additionally, policyholders can avail of a loan facility against this policy, providing them with access to funds in times of need. To learn more about the Jeevan Anand Policy, individuals can visit their nearest LIC branch, where they can also apply for the scheme. Overall, the Jeevan Anand Policy offers a attractive investment opportunity for those looking to build long-term wealth and secure their financial future.

By investing in the Jeevan Anand Policy, individuals can create a substantial corpus over time, which can be used to achieve their long-term financial goals, such as retirement planning, children’s education, or buying a house. With its flexible payment options, bonus facility, and loan option, this policy provides a comprehensive and secure investment solution for individuals seeking to build a stable financial future.

The Life Insurance Corporation of India (LIC) has launched a new initiative called ‘Bima Sakhi Yojana’ with the concept of ‘Har Ghar Insurance’, aiming to provide insurance coverage to every household in the country. The scheme was launched by Goa Chief Minister Pramod Sawant in the presence of top officials from LIC.

The Bima Sakhi Yojana is a unique initiative that aims to utilize the services of self-help groups (SHGs) and women from rural areas to sell life insurance policies. The scheme aims to reach out to the underserved and unserved population, particularly in rural areas, and provide them with affordable insurance coverage.

Under the scheme, women from SHGs will be trained and appointed as ‘Bima Sakhis’ or insurance friends, who will act as a bridge between LIC and the rural population. These Bima Sakhis will be responsible for selling life insurance policies, collecting premiums, and providing after-sales services to the policyholders.

The Bima Sakhi Yojana is part of the government’s larger goal of achieving ‘Har Ghar Insurance’ or insurance for every household. The scheme aims to increase the penetration of life insurance in the country, particularly in rural areas where access to insurance is limited.

Speaking at the launch event, Chief Minister Sawant praised the initiative, saying that it will help in providing financial security to the people of Goa. He also appreciated the role of SHGs in the state, saying that they have been instrumental in empowering women and promoting economic development.

LIC officials said that the Bima Sakhi Yojana is a step towards achieving the goal of ‘Har Ghar Insurance’. They said that the scheme will not only provide insurance coverage to the rural population but also create employment opportunities for women from SHGs.

The Bima Sakhi Yojana is expected to benefit thousands of people in Goa and other parts of the country. The scheme is part of the government’s efforts to promote financial inclusion and provide social security to all citizens. With the launch of this scheme, LIC aims to increase its reach and penetration in the country, particularly in rural areas, and provide affordable insurance coverage to all.

The Life Insurance Corporation of India (LIC) has achieved a significant milestone by being awarded the ISO 22301:2019 Business Continuity Management System (BCMS) certification from the British Standards Institution (BSI). This prestigious certification is a global benchmark for business continuity management and recognizes LIC’s ability to maintain robust business continuity practices, ensuring uninterrupted services even during unforeseen disruptions.

The ISO 22301:2019 certification is an international standard that focuses on minimizing operational disruptions and ensuring swift recovery in times of crisis. By achieving this certification, LIC has demonstrated its commitment to operational resilience, business continuity planning, and risk management capabilities, which are consistent with global best practices.

This certification is a testament to LIC’s preparedness to face unexpected challenges and ensure continuity of services to its customers. It enhances the insurer’s reputation as a resilient organization that can mitigate risks and manage disruptions, thereby safeguarding the interests of its stakeholders. The certification also strengthens confidence in LIC among its customers, employees, and other stakeholders.

Siddhartha Mohanty, CEO and Managing Director of LIC, emphasized the importance of this certification, stating that it reflects the institution’s commitment to ensuring business continuity and safeguarding the interests of its stakeholders. He added that the certification is a testament to LIC’s ability to maintain the trust and confidence of its customers and stakeholders.

Overall, the ISO 22301:2019 certification is a significant achievement for LIC, demonstrating its commitment to operational excellence, risk management, and customer service. It reinforces the insurer’s position as a leader in the industry and highlights its ability to navigate complex and uncertain environments, ensuring that its customers receive uninterrupted services even in the face of unforeseen disruptions. With this certification, LIC has further strengthened its reputation as a reliable and resilient organization, poised for continued growth and success.

The Life Insurance Corporation of India (LIC) has achieved a significant milestone by receiving the ISO 22301:2019 Business Continuity Management System (BCMS) certification from the British Standards Institution (BSI). This certification recognizes LIC’s operational resilience, business continuity planning, and risk management capabilities, which are now aligned with global best practices. The ISO 22301:2019 standard is an international benchmark for business continuity management, focusing on minimizing operational disruptions and ensuring swift recovery in times of crisis.

The certification is a testament to LIC’s commitment to ensuring business continuity and safeguarding the interests of its stakeholders, including policyholders. The insurer’s ability to maintain robust business continuity practices, ensure uninterrupted services, and effectively manage risk has been recognized through this certification. This achievement enhances LIC’s reputation as a resilient organization that is well-prepared to face unexpected challenges and serve customers seamlessly.

Speaking on this occasion, Shri. Siddhartha Mohanty, CEO & Managing Director, LIC, emphasized the importance of trust and confidence that customers and stakeholders have in the institution. He stated that receiving the ISO 22301:2019 certification is a testament to LIC’s commitment to ensuring business continuity and safeguarding the interests of its stakeholders.

Shri Tablesh Pandey, Managing Director, LIC, added that security and resilience have always been central to LIC’s operational philosophy. He highlighted that achieving ISO 22301 certification underscores the organization’s dedication to safeguarding the interests of millions of policyholders by ensuring secure, uninterrupted services, and consistently enhancing preparedness against disruptions.

The certification process involved exemplary leadership, continuous support, and executive oversight from LIC’s Enterprise Risk Management, Cyber Security Department, and senior leadership teams. Going forward, LIC will engage in regular exercises and periodic reviews under BSI’s surveillance program to reinforce continuous improvement in its business continuity management practices. This certification is a significant achievement for LIC, demonstrating its commitment to operational resilience and customer-centricity.

The Life Insurance Corporation of India (LIC), a government-owned insurer, has achieved a remarkable feat by earning a Guinness World Records title for selling the most life insurance policies in 24 hours. On January 20, 2025, a total of 452,839 agents of LIC successfully issued an impressive 588,107 life insurance policies across India. This extraordinary achievement has set a new global benchmark for agent productivity in the life insurance industry within a 24-hour period.

The record attempt was initiated by Siddhartha Mohanty, CEO and MD of LIC, who appealed to every agent to complete at least one policy on “Mad Million Day” – January 20, 2025. The response was overwhelming, with agents working tirelessly to procure a record number of policies on a single day. This achievement is a testament to the dedication, skill, and work ethics of LIC’s agents, who have demonstrated their commitment to providing vital financial protection to their customers and their families.

LIC has expressed its excitement and pride in receiving this prestigious record, stating that it is a powerful validation of the efforts of its agents. The company has thanked all the insurance buyers, agents, and employees who made “Mad Million Day” historic and contributed to this remarkable achievement. The Guinness World Records title is a significant recognition of LIC’s efforts to provide financial protection to its customers and strengthen its position as a leading life insurance provider in India.

This achievement is not only a milestone for LIC but also a demonstration of the company’s ability to mobilize its vast network of agents to achieve exceptional results. With this record, LIC has set a new standard for the life insurance industry, and its agents have proven themselves to be among the most productive and dedicated in the world. The company’s commitment to its mission and customers has been reinforced, and it is likely to continue to be a leader in the life insurance sector.

Shri Raj Kumar, a veteran of the life insurance industry, has completed his term as LIC Nominee Director on the Board of IDBI Bank Limited, effective May 18, 2025. With over four decades of strategic leadership and operational experience, Mr. Kumar has had a distinguished career in the insurance sector. He joined LIC in 1984 as an apprentice officer and has held various key positions, including Managing Director of LIC, Chief Executive Officer of LIC Mutual Fund Asset Management Limited, and Zonal Manager of Bhopal, among others.

Throughout his career, Mr. Kumar has demonstrated expertise in human resources, marketing, business management, administration, and corporate governance. His notable achievements have been recognized with awards, including the “Most Influential Human Resource Officer in Asia” by CHRO Asia. He has also served as Senior Divisional Manager of Gorakhpur and Jaipur divisions of LIC, and as Executive Director (Estate and Office Services) in Mumbai.

As a seasoned professional, Mr. Kumar brings a wealth of knowledge and experience to the table. His contributions to the insurance industry have been significant, and his leadership has been instrumental in shaping the direction of various organizations. His departure from the Board of IDBI Bank Limited marks the end of an era, and his legacy is expected to continue inspiring future generations of leaders in the industry.

The notification of Mr. Kumar’s departure was made through an exchange filing, and his term has come to an end as per the bank’s regulations. The bank has not announced a replacement for Mr. Kumar, and it is expected that a new nominee director will be appointed in due course. Mr. Kumar’s experience and expertise will be missed on the Board of IDBI Bank Limited, but his contributions to the industry will continue to be felt for years to come.

The Indian government has announced the appointment of Dinesh Pant and Ratnakar Patnaik as Managing Directors of the Life Insurance Corporation of India (LIC), effective June 1, 2025. Both individuals are currently serving as Executive Directors at LIC, with Pant holding the position of Appointed Actuary & Executive Director (Actuarial) and Patnaik serving as Executive Director (Investment – Front Office) & Chief Investment Officer.

Pant’s appointment as Managing Director will be until May 31, 2027, or until further orders, whichever comes first. Similarly, Patnaik’s appointment will be until March 31, 2028, or until further orders. The appointments come as two existing Managing Directors, Jagannath Mukkavilli and Tablesh Pandey, are set to retire at the end of May 2025.

The top leadership of LIC consists of a CEO & MD, along with four Managing Directors. The appointment of Pant and Patnaik is expected to bring stability and continuity to the organization, given their existing experience and expertise within the company. As Managing Directors, they will play a crucial role in shaping the strategic direction of LIC and overseeing its operations.

The announcement was made through a regulatory filing, and the appointments are subject to the terms and conditions specified by the government. The move is seen as a significant development in the Indian insurance sector, with LIC being one of the largest and most prominent players in the market. With their experience and expertise, Pant and Patnaik are expected to contribute to the growth and success of LIC, and help the organization navigate the evolving landscape of the insurance industry. The appointments are effective from June 1, 2025, and are expected to have a positive impact on the company’s future prospects.

In a significant move, the Life Insurance Corporation of India (LIC) has introduced a new facility that allows policyholders to pay their premiums through WhatsApp. This innovation is expected to bring relief to the millions of LIC policyholders in the country, eliminating the need to visit LIC offices or undergo lengthy payment processes. To access this feature, policyholders simply need to send a “Hi” message to the number 89768 62090 from their WhatsApp account.

Upon doing so, they will be presented with various options to choose from, based on their specific requirements. For those who have already registered their policies on the LIC website, they can use the WhatsApp bot to check their premium amounts due and proceed with payments using UPI, net banking, or debit/credit cards. It’s essential for policyholders to register on the LIC India website (https://licindia.in/) and link their policies to utilize this service.

This development is particularly noteworthy given the large number of LIC policyholders in India. With over 2.2 crore registered policyholders and more than 3 lakh customers using online services daily, the introduction of WhatsApp payments is poised to significantly enhance the convenience and efficiency of premium payments. By leveraging WhatsApp, one of the most widely used messaging platforms in the country, LIC aims to make its services more accessible and user-friendly, catering to the evolving needs of its vast customer base.

The ability to pay premiums through WhatsApp not only simplifies the process but also reduces the time and effort required, allowing policyholders to manage their policies more effectively. As LIC continues to expand its digital footprint, initiatives like these underscore the corporation’s commitment to adopting technology to improve customer experience and stay abreast of the digital age. By embracing such innovations, LIC is likely to further strengthen its position as a leading life insurance provider in India, offering convenient, reliable, and technologically advanced services to its policyholders.

A massive fire broke out at the Life Insurance Corporation (LIC) building in Patna, India, early on Sunday morning. The blaze started around 5:00 AM near the busy Exhibition Road intersection and quickly spread, engulfing the entire building in flames. The fire caused widespread panic in the area, with thick plumes of smoke billowing from the building and visible to nearby residents. Multiple fire tenders were deployed to the scene, and firefighters used hydraulic systems to try to control the flames.

Rescue operations are currently underway, with each floor of the building being thoroughly checked for anyone who may be trapped inside. The cause of the fire is still unknown and is under investigation. Authorities have evacuated the surrounding area as a precautionary measure and diverted traffic to ensure public safety. Emergency teams and local administrations are on high alert, working to douse the flames and secure the premises.

The fire has caused significant disruption in the area, with nearby residents expressing fear and alarm. The situation is still not fully under control, and officials have warned that it may take some more time to bring the fire under control. The authorities are working diligently to rescue anyone who may be trapped and to prevent the fire from spreading to nearby buildings.

The incident has raised concerns about fire safety and the need for emergency preparedness in the city. The LIC building is a prominent landmark in Patna, and the fire has sent shockwaves throughout the community. The investigation into the cause of the fire is ongoing, and officials will likely face questions about the building’s safety measures and emergency response protocols. For now, the focus is on bringing the fire under control and ensuring the safety of everyone in the area. The situation is being closely monitored, and updates are expected as more information becomes available.

The Life Insurance Corporation of India (LIC) has introduced a new facility that allows policyholders to pay their premiums through WhatsApp. This move aims to provide customers with a convenient and hassle-free way to pay their premiums from the comfort of their own homes. To avail of this service, policyholders can send a message to the WhatsApp number 8976862090, which will activate a chatbot that will guide them through the payment process.

The chatbot will present the customer with various options, including the ability to pay premiums. Once the customer selects the premium payment option, they will be provided with a link to register and pay their premium. To complete the payment, customers will need to enter their policy number, pay the premium amount, and upload a photo of their PAN card in .jpg or .jpeg format.

To use this service, customers will need to register on the LIC website, www.licindia.in, and create a new ID if they haven’t already done so. They can then log in to their account, add their policy, and access basic services. The introduction of this WhatsApp payment facility is expected to make it easier for policyholders to keep their policies up to date and avoid late payment fees.

This move is part of LIC’s efforts to digitize its services and provide customers with more convenient and accessible ways to manage their policies. By leveraging WhatsApp, one of the most widely used messaging platforms in India, LIC is making it possible for customers to pay their premiums quickly and easily, without having to visit an agent or office. Overall, this new facility is a significant step forward in LIC’s digital transformation and is likely to be well-received by its customers. With this new service, policyholders can now manage their policies and pay premiums from anywhere, at any time, using their mobile phones.

The Life Insurance Corporation of India (LIC) has achieved a remarkable milestone by selling an impressive six lakh policies in just one day, generating premiums totaling Rs 1.04K crores on January 20, 2025. This achievement coincided with the 69th anniversary of LIC’s founding on January 20, 1956, making the occasion even more significant. The concerted efforts of LIC’s extensive network of 4,50,000 agents were instrumental in reaching this target, demonstrating the strong trust that the organization has earned from the citizens of India.

To commemorate its foundation day, LIC has launched the “Mad Million Day” initiative, aimed at strengthening its legacy and engaging with millions of policyholders. This annual event highlights LIC’s essential role in ensuring the financial security of Indian citizens. Since its establishment in 1956, LIC has served as a fundamental pillar of financial security in India, providing a safety net for generations of Indians. The organization has a long history of success, and through the Mad Million Day initiative, it reaffirms its dedication to safeguarding lives and realizing dreams for generations to come.

The achievement of selling six lakh policies in one day is a testament to LIC’s commitment to its mission and its ability to connect with the people of India. The organization’s network of agents played a crucial role in achieving this milestone, and their efforts have helped to reinforce the trust that people have in LIC. As LIC continues to grow and evolve, it remains committed to its core values of providing financial security and stability to its policyholders.

The success of the Mad Million Day initiative has significant implications for the future of LIC and the Indian insurance industry as a whole. It demonstrates the growing demand for insurance products and the importance of financial planning in India. As the country continues to develop and grow, the need for insurance and financial security will only increase, and LIC is well-positioned to meet this demand. With its strong legacy and commitment to its policyholders, LIC is likely to remain a leading player in the Indian insurance industry for years to come.

The Life Insurance Corporation of India (LIC) has been ranked third among the world’s strongest insurance brands, according to the Brand Finance Insurance 100 2025 report. With a Brand Strength Index (BSI) score of 88 out of 100, LIC trails behind Poland-based PZU and China Life Insurance, which secured the top two spots with scores of 94.4 and 93.5, respectively. In terms of overall brand value, LIC ranks 12th globally, while SBI Life ranks 76th, making them the only two Indian insurers in the top 100.

The top 100 insurance brands have seen a 9% growth in brand value in 2025, driven by improved underwriting results, higher investment income, and increased profitability. The market capitalization of top insurance brands has risen due to increased demand for insurance products across sectors. Economic recovery and positive market sentiment have also strengthened investor confidence, leading to strategic mergers, acquisitions, and technological advancements that have accelerated industry growth.

LIC’s financial performance has been impressive, with a 17% year-on-year rise in standalone net profit for the December quarter, reaching Rs 11,056.47 crore. The company’s consolidated net profit also increased by 16% to Rs 11,009 crore, driven by a decline in management expenses, particularly employee-related costs. The expense ratio decreased by 231 basis points to 12.97% from 15.28% due to a 30% decline in employee compensation and welfare expenses.

The Indian insurance sector has also received a significant boost with the announcement of an increase in the foreign direct investment (FDI) limit from 74% to 100% in the Budget for 2025-26. This move is expected to attract more foreign investment in the sector, as companies that invest the entire premium in India will be eligible for the enhanced FDI limit. The government has also announced plans to review and simplify the current guardrails and conditionalities associated with foreign investment in the insurance sector. Overall, the Indian insurance sector is poised for significant growth and development in the coming years.

The Life Insurance Corporation of India (LIC) has been ranked third among the world’s strongest insurance brands, with a Brand Strength Index (BSI) score of 88 out of 100, according to the Brand Finance Insurance 100 2025 report. Poland-based PZU secured the top spot, followed by China Life Insurance. In terms of overall brand value, LIC holds the 12th position, while SBI Life ranks 76th, making them the only two Indian insurers in the top 100.

The report notes that the top 100 insurance brands have grown 9% in brand value in 2025, driven by improved underwriting results, higher investment income, and increased profitability. The LIC has reported a 17% year-on-year rise in standalone net profit for the December quarter, reaching Rs 11,056.47 crore, supported by a decline in management expenses.

The Indian insurance sector has also received a major boost with the Finance Minister announcing an increase in the FDI limit from 74% to 100% in the Budget for 2025-26. This move is expected to attract more foreign investment in the sector, as companies that invest the entire premium in India will be eligible for the enhanced FDI limit. The current conditionalities associated with foreign investment will also be reviewed and simplified.

The LIC’s financial performance has been strong, with a consolidated net profit increase of 16% to Rs 11,009 crore, driven by a decline in employee compensation and welfare expenses. The company’s expense ratio has also reduced to 12.97% from 15.28%. The increase in FDI limit is expected to further boost the growth of the insurance sector in India, which has been driven by economic recovery, positive market sentiment, and strategic mergers and acquisitions.

Overall, the LIC’s strong brand and financial performance, combined with the government’s efforts to liberalize the insurance sector, are expected to drive growth and investment in the industry. The increased FDI limit is likely to attract more foreign players, leading to increased competition and innovation in the sector. With the Indian insurance market expected to continue growing, the LIC and other Indian insurers are well-positioned to capitalize on this trend and expand their presence in the global market.

The Life Insurance Corporation of India (LIC) has issued a warning to its policyholders about fake mobile applications that are misusing its name. The state-run insurer has advised customers to be cautious and only conduct transactions through its official platforms. LIC has identified instances of unauthorized mobile applications that falsely claim to be associated with the corporation, and has urged customers to verify the authenticity of any application before making transactions.

To avoid falling prey to these fraudulent applications, LIC has recommended that customers rely only on its official website, the LIC Digital App, and other authorized channels listed on the corporation’s website. The corporation has made it clear that it will not be held liable for any payments made through unofficial platforms, and that customers who use these platforms do so at their own risk.

For customers who are unsure about the authenticity of an LIC mobile application, the corporation has provided a simple solution. It has advised them to visit its official website to download the legitimate Android or iOS app. This will ensure that customers are using a genuine application and are protected from potential cyber threats.

The advisory issued by LIC aims to prevent financial fraud and protect policyholders from losing their money to fraudulent activities. By being vigilant and taking the necessary precautions, customers can avoid falling victim to these scams and ensure that their transactions are safe and secure. LIC’s warning is a timely reminder of the importance of being cautious when conducting financial transactions online, and of the need to verify the authenticity of any application or website before sharing personal or financial information. By taking these precautions, customers can protect themselves from financial loss and ensure that their transactions are safe and secure.

The Indian life insurance industry has reported a 5.1% increase in new premium collection, reaching Rs 3.97 lakh crore in the financial year 2024-2025. This growth was largely driven by Life Insurance Corporation of India (LIC), which collected Rs 2.26 lakh crore in new business premium, including Rs 62,404.58 crore from individual new business. The individual new business premium saw an 11% increase, rising to Rs 1.66 lakh crore from Rs 1.49 lakh crore in the previous year.

The industry’s growth can be attributed to the efforts of insurers to expand access to insurance, as well as the significant addition of new individual life insurance agents. Over 11,15,661 new agents were added in the fiscal year 2024-2025, resulting in a 7.88% growth in the cumulative agent count. This expansion has helped increase insurance penetration, particularly in previously underserved segments of the population.

LIC, in particular, has seen significant growth, with a 8.35% increase in individual new business premium. The company sold 1.78 crore new policies in the fiscal year, despite new surrender value norms coming into effect in October 2024. The introduction of these norms was expected to impact sales, but the industry has adapted and continued to grow.

The Indian life insurance industry is expected to continue growing, driven by the rapid pace of digitization across the sector. As more people become aware of the importance of insurance and have easier access to it, the industry is likely to see sustained growth in new business premiums. The industry’s progress in reaching new milestones in premium collections and expanding its reach is positioning it for future growth.

Overall, the life insurance industry in India is making significant strides, with a growing number of people purchasing insurance policies and the industry adapting to changing regulations and consumer needs. With the continued expansion of insurance access and the growth of the agent network, the industry is well-positioned for sustained growth in the years to come.

The Life Insurance Corporation of India (LIC) has introduced the Jeevan Shiromani Policy, a premium insurance plan designed for high-net-worth individuals. This non-linked savings and protection plan offers a unique combination of guaranteed returns and critical illness benefits, making it an attractive option for those seeking a secure and profitable investment.

The Jeevan Shiromani Policy provides guaranteed returns, ensuring that policyholders receive a minimum payout upon maturity. This feature provides peace of mind for investors, as they can rely on a guaranteed return on their investment. Additionally, the policy offers critical illness benefits, which can be a lifesaver in the event of a serious medical condition.

One of the key benefits of the Jeevan Shiromani Policy is its comprehensive coverage. The policy provides protection against death, accidental death, and permanent disability. This coverage ensures that policyholders’ loved ones are financially secure even in the event of an untimely passing.

Another attractive feature of the Jeevan Shiromani Policy is its flexibility. Policyholders have the option to choose from a range of premium payment terms, allowing them to customize the plan to suit their needs. This flexibility is particularly useful for busy individuals who may not have the time or resources to make frequent payments.

The Jeevan Shiromani Policy is a top choice for high-net-worth individuals due to its unique combination of guaranteed returns and critical illness benefits. With its comprehensive coverage and flexible premium payment terms, this policy provides a safe and profitable investment option that can help policyholders achieve their financial goals.

In conclusion, the Jeevan Shiromani Policy is a premium insurance plan that offers a unique combination of guaranteed returns and critical illness benefits. With its comprehensive coverage and flexible premium payment terms, this policy is an attractive option for high-net-worth individuals seeking a secure and profitable investment.

The Life Insurance Corporation of India (LIC), the country’s largest insurer, has launched its Marketing Technology (MarTech) platform, marking a significant milestone in its digital transformation initiative, Project DIVELIC. This launch marks LIC’s first step towards becoming a global digital champion in the insurance industry, leveraging world-class technology to revolutionize customer engagement on a large scale. The MarTech platform enables LIC to connect with policyholders, prospects, and agents in a seamless and personalized manner, introducing an intelligent and multi-channel engagement capability. This allows LIC to run hyper-personalized, always-on campaigns that enhance customer experience and drive business growth.

The launch of the MarTech platform represents a significant shift for LIC, positioning it as a global leader in digital insurance innovation. According to Siddhartha Mohanty, CEO & MD of LIC, the launch is a major milestone in the company’s digital transformation journey, which will redefine customer engagement in the insurance sector. The MarTech platform is more than just a technology upgrade, it’s a strategic shift that will enable LIC to set new industry benchmarks.

As Project DIVELIC progresses, LIC will continue to introduce next-generation digital capabilities, ensuring it remains at the forefront of the global insurance landscape. The platform will enable LIC to hyper-personalize its campaigns, creating a more seamless and personalized experience for its customers. This will not only drive business growth but also enhance the overall customer experience. With the launch of the MarTech platform, LIC has taken the first step towards its ambitious goal of becoming a global digital champion in the insurance industry.

The District Consumer Disputes Redressal Commission in Mysore, Karnataka, ruled that an insured individual who takes out multiple insurance policies with different agents and uses various name variations, suggesting a pre-existing illness, must disclose this information to the insurer. The commission held that insurance contracts are based on the principle of “utmost good faith” and that any concealment of material facts can vitiate the policy.

The case involved a father who took out two insurance policies from the Life Insurance Corporation of India (LIC) on the same day, with a total sum assured of Rs. 3,50,000/-. After his death, the complainant (his daughter) filed a claim, but LIC repudiated it, citing that the father had failed to disclose his pre-existing illness. The complainant alleged that her father had not concealed any information and that LIC had wrongfully refused to pay the claim.

The commission reviewed the medical records and found that the father had been admitted to hospital multiple times before taking out the insurance policies, with a final diagnosis of chronic liver disease. The commission also noted that the father had taken out four insurance policies within a short span of three months, using different variations of his name and involving multiple agents. This conduct raised suspicions about his intentions and suggested that he was aware of his pre-existing illness.

The commission referred to the Supreme Court’s decision in Reliance Life Insurance Co. Ltd. v. Rekhaben Nareshbhai Rathod, which held that insurance contracts are based on the principle of “utmost good faith” and that any suppression of material facts can vitiate the policy. As a result, the commission held that LIC’s repudiation of the claim was justified and dismissed the complaint.

This case highlights the importance of transparency and disclosure in insurance contracts. Insurance companies must ensure that proposers disclose all material facts related to their health and medical history. If an insured individual attempts to conceal this information, the insurer may repudiate the claim, as was the case in this instance.

The Life Insurance Corporation of India (LIC) has announced the appointment of two new officials to senior management positions on its board.

Vivek Paul and Govind Prasad Agarwal have been appointed to the roles of Senior Management Personnel.

Vivek Paul takes over as the Managing Director and Additional Director of LIC.

Govind Prasad Agarwal, who was appointed as Additional Director, has been given an additional role of Additional Director, taking over responsibilities related to marketing and product development.

The appointments reinforce the consolidation of power within the leadership team.

The appointments reflect the company’s efforts to strengthen its leadership and administrative structure.

Vivek Paul’s experience in the finance and insurance sectors will be particularly relevant to his new role.

Overall, the changes aim to provide continuity and consolidation within the organization amid significant market conditions.

Ritu Nanda, the daughter of Bollywood legend Raj Kapoor, defied conventional expectations by choosing a career outside of the film industry. Despite being part of the famous Kapoor family, Ritu opted for a business and insurance career, which was entirely different from her family’s profession. She was an entrepreneur, insurance advisor, author, and negotiator, and her biography describes her as a pioneer in her field.

Ritu’s accomplishments are impressive, to say the least. She was once the top insurance agent of LIC and even held a Guinness Book of World Records for selling 17,000 pension plans in one day. She also started her own insurance company, Escolife, despite facing initial criticism. Moreover, she had previously attempted to start a kitchen appliances business with her company Nikitasha, although it didn’t succeed.

Ritu’s success was not limited to her professional life. She was also a devoted wife to Rajan Nanda, the former chairman of Escorts Group, and a mother to her son Nikhil Nanda. Nikhil is married to Shweta Bachchan, the daughter of Amitabh Bachchan and Jaya Bachchan, making Ritu an in-law of the Bachchan family.

Despite her many achievements, Ritu’s life was not without its challenges. She passed away in January 2020 after a prolonged fight with cancer at the age of 71. Her remarkable story serves as an inspiration to those who believe that success is not limited to a single field or profession.

The Life Insurance Corporation of India (LIC) has responded to a claim made by the United States Trade Representative (USTR) report that it receives special treatment from the government or regulatory authorities. LIC has denied this claim, stating that it is treated in the same way as any other insurance company. According to LIC, the guaranteed provision provided at its inception in 1956 is a statutory provision designed to build public confidence and has never been used as a marketing tool or to give LIC an undue advantage.

LIC CEO and MD Siddhartha Mohanty emphasized the company’s commitment to maintaining high standards of governance, service, and customer confidence. LIC has worked in a competitive market with 24 private life insurance companies for the last 25 years, regulated by IRDAI and SEBI, and does not receive special treatment from the government or regulatory authorities. The company attributes its leadership in the insurance sector to the trust of its policyholders, commitment to excellent service, financial strength, and transparency.

LIC has requested the US agency to make a more balanced and factual assessment of its role, instead of making unfounded claims. The company has emphasized that its position is based on its performance and customer confidence, and not on any special treatment it receives. By responding to the claim, LIC aims to clarify the situation and ensure that there is no misrepresentation or misconception about the company’s treatment by the government or regulatory authorities.

The Life Insurance Corporation (LIC) of India has refuted claims made by the US Trade Representative (USTR) that the insurance company receives “special treatment” from the Indian government and regulators. The USTR report alleged that LIC’s statutory guarantee, which was put in place when the company was established in 1956, gives it an unfair competitive advantage over private insurance companies. The report claimed that this guarantee allows LIC to secure business from ordinary citizens at the expense of privately-run insurers.

However, LIC has denied these claims, stating that the guarantee was designed to build public confidence in the early years of nationalization and has never been invoked or used as a marketing tool. The company also pointed out that it operates in a competitive market alongside 24 private life insurance companies, and has done so for the past 25 years.

LIC’s CEO, Siddhartha Mohanty, reiterated the company’s commitment to upholding the highest standards of governance, service, and customer trust. The company also emphasized that it is treated like any other insurance company by the government and regulators, and that its operations are subject to the same rules and regulations as private insurers.

The USTR report also mentioned the National Payments Corporation of India as receiving favourable treatment from the government, but did not provide any specific examples or evidence to support these claims. LIC’s response has been met with skepticism by some, who argue that the government’s guarantee does give LIC an unfair advantage. However, the company’s CEO has maintained that the guarantee has not been misused and that the company operates in a competitive market.

Overall, the dispute highlights the growing tensions between India and the US over trade and investment issues. The USTR report was seen as a significant escalation in the trade dispute, and LIC’s response has sparked a heated debate over the level of government support given to state-run companies in India.

The US has criticized India’s financial industry, citing several areas where Indian entities have an unfair advantage over foreign firms. The 2025 National Trade Estimate Report, published by the Office of the US States Trade Representative (USTR), highlighted several issues, including data storage requirements for electronic payments, barriers to entry in the accounting services sector, and unfair treatment of foreign firms in the insurance industry.

The report stated that India’s requirement for storing data locally on electronic payments hampers the ability of foreign firms to detect fraud and ensure the security of their global networks. Foreign accounting firms also face obstacles in entering the Indian market, with only partnerships under Indian law being allowed to provide financial auditing services. In the insurance sector, state-owned companies like Life Insurance Corporation (LIC) enjoy a competitive advantage over private firms, thanks to government guarantees and lax regulation.

The report also noted that foreign banks face restrictions on branch expansion, and that the Indian government’s 2021 safeguards on the insurance sector, such as requiring a majority of board members to be Indian residents, still pose a barrier to foreign investment. Additionally, foreign reinsurers are subject to unequal treatment, with Indian reinsurers being given preferential treatment.

The US has accused India of erecting barriers for overseas firms seeking to compete in India’s financial industry. The report was published ahead of US President Donald Trump’s announcement of reciprocal tariffs on India, and Trump’s remarks suggested that India has not treated the US fairly in trade. The US has also expressed disappointment with India’s slow progress on liberalizing its insurance sector, despite a 2025 Union Budget announcement to raise the foreign direct investment (FDI) cap from 74% to 100%.

Employees of the Life Insurance Corporation of India (LIC) under the All India Insurance Employees Association (AIIEA) recently protested against the increase in foreign direct investment (FDI) limits in the insurance sector, as announced by Finance Minister Nirmala Sitharaman in the Budget. The protest was sparked by the decision to increase the FDI limit from 74% to 100%. The protesting employees believe that this move will be harmful to the Indian economy, common people, and the state’s responsibilities. They argue that the privatisation of the insurance sector began in 1999, allowing Indian money to operate in partnership with foreign companies. Currently, private insurance companies operate in both life and general insurance sectors with foreign partners, but the employees claim that the total FDI in the insurance sector accounts for only 32% of the invested capital, raising questions about the government’s decision to grant full independence to foreign capital.

The protesting employees, led by Neeraj Arora, divisional secretary of the association, fear that if existing foreign partners decide to operate independently, it could lead to hostile takeover bids for existing Indian companies. They believe that this could severely impact Indian companies and potentially lead to a loss of control and ownership. The employees also claim that there is no shortage of money, as private insurance companies are owned by major business houses and operate in collaboration with top multinational firms. Overall, the protest is aimed at highlighting the potential risks and consequences of increasing FDI in the insurance sector and challenging the government’s decision to grant full independence to foreign capital.

A major theft has been reported at the Life Insurance Corporation (LIC) office in Jamshedpur, India, where thieves broke open the safe and stole over Rs 55 lakh (approximately $75,000). The incident came to light when employees arrived at the office on Wednesday morning and discovered the safe’s lock broken, with cash missing and items scattered.

The police launched an investigation, finding that the thieves not only broke into the safe but also removed the CCTV DVR, erasing any potential footage of the crime. The authorities suspect that one or more individuals familiar with the office operations might be involved, given the ease and sophistication of the theft.

The theft occurred during an extended holiday period when the office remained closed for three days, and the accumulated cash could not be deposited. The police have begun questioning employees to determine who had access to the office keys and are examining all angles of the case. A forensic team has also collected fingerprints and other evidence from the scene.

To prevent similar incidents in the future, LIC officials have tightened security measures, including improving the office’s surveillance system. The police are treating this case as a high-priority investigation, with a search operation underway to trace the missing CCTV records. The authorities have urged anyone with information related to the case to come forward, and further updates are expected as the investigation continues. The theft has caused panic among the staff, with many expressing concerns over safety lapses in the office premises.

A 55-year-old Life Insurance Corporation of India (LIC) agent, Anurag Srivastava, was found hanging in his home in the Musafirkhana Nagar Panchayat area of Uttar Pradesh’s Ghaziabad district on Tuesday morning. The police were alerted and discovered Srivastava’s body hanging from a noose. The authorities have launched an investigation into the incident and have seized Srivastava’s mobile phone as part of the inquiry.

The police are currently investigating the events and conditions that led to Srivastava’s death, including whether it was a result of financial distress, personal issues, or foul play. The authorities have also dispatched Srivastava’s body for a post-mortem examination to determine the exact cause of death. The autopsy report is expected to provide crucial insights into the case.

The incident has raised concerns and prompted the police to investigate the matter thoroughly. The police are working to gather more information and evidence to shed light on Srivastava’s death and whether it was a suicide or not. The investigation is ongoing, and the police are working to unravel the mystery surrounding Srivastava’s death.

It is a worrying trend, and this incident is a reminder of the importance of mental health and the need to address any underlying issues that may be contributing to an individual’s distress. The death of a 55-year-old LIC agent is a tragic event, and the police are doing their best to investigate and provide answers to the questions surrounding his death.

The Life Insurance Corporation (LIC) has announced that its branches will remain open this weekend and on Monday, which is a holiday due to Eid celebrations in many parts of the country. This move aims to facilitate policyholders to deposit their premium payments. As per LIC’s official statement, its offices will maintain normal operating hours on March 29, 30, and 31 to avoid any inconvenience to policyholders.

The decision is in line with the advisory issued by the Insurance Regulatory and Development Authority of India (IRDAI) on March 12, 2025. The IRDAI’s advisory encourages life insurance companies to remain open on holidays and weekends to cater to the needs of policyholders.

LIC’s move is intended to ensure that policyholders can conveniently deposit their premium payments on these days, thereby avoiding any potential hardship or inconvenience. By keeping its branches open, LIC is demonstrating its commitment to providing seamless service to its customers, even on holidays.

The move may also benefit policyholders who are unable to visit LIC’s branches on regular working days due to various reasons such as geographical constraints, mobility issues, or other commitments. By opening its branches on weekends and holidays, LIC is showing that it is proactive in addressing the needs of its customers and accommodating their unique circumstances.

Overall, LIC’s decision to keep its branches open on weekends and holidays is a proactive step towards ensuring that policyholders can easily access its services, deposit their premium payments, and receive the necessary support and assistance.

The Life Insurance Corporation (LIC) of India is planning to introduce a new type of long-term bond, potentially lasting 50 to 100 years. If approved by the Reserve Bank of India (RBI), these bonds would allow investors to earn a significant payout many years after their initial investment. This concept was initially explored with a 40-year bond, but LIC is now considering a longer duration. The new bonds would provide an added benefit for investors who pass away before the bond matures, offering a higher payout to their family.

The exact details of the new bonds are still unclear, but they are expected to offer special benefits, including extra financial security for elderly policyholders. If approved, the long-term nature of these bonds could attract many investors seeking a safe and lasting investment option.

LIC is waiting for formal approval from the RBI, but company officials are hopeful that approval will come soon. If approved, the plan could mark a major turning point for the company and help LIC become an even stronger and more trusted financial institution in India. The new bonds could benefit thousands of customers and further solidify LIC’s reputation as a trusted name in India. As the company awaits approval, the potential impact of these long-term bonds on LIC’s growth is significant, and many investors are eagerly awaiting the outcome.

The LIC Jeevan Tarun plan is a participating non-linked premium payment scheme designed to support parents in securing their children’s financial future. The plan offers a framework for parents to achieve their dreams and their child’s dreams by providing a guaranteed asset over a period of 25 years. The plan is available to parents who are between 90 days and 12 years old, with a minimum entry age of 8 years.

The plan offers a range of features, including annual, half-yearly, quarterly, and monthly premium payment frequencies, as well as a loan option from the policy’s surrender value. Policyholders can also choose from four customization options for survival and maturity benefits. The plan also offers a death benefit, with the nominee receiving a payment from LIC Jeevan Tarun if the life assured dies.

The plan’s premium payments are based on the sum assured amount and payment frequency choice, with options including monthly, quarterly, half-yearly, and yearly payment frequencies. The plan also offers a Premium Waiver Benefit Rider, which waives off future premiums if the policyholder passes away.

The LIC Jeevan Tarun plan is a versatile product that offers protection and savings potential for children’s financial welfare. The plan’s flexibility in premium payment schedules and borrowing against policy value adds to its value. The plan’s surrender benefit is based on specific conditions, with policyholders receiving a sum assured amount or a percentage of the sum assured amount, depending on their choice.

Overall, LIC Jeevan Tarun is a valuable plan for parents who want to secure their children’s financial future. Its various features, including the loan option, survival and maturity benefit options, and Premium Waiver Benefit Rider, make it an attractive option for those looking for a plan that provides protection and savings potential.

The Life Insurance Corporation of India (LIC) has announced that it will keep its offices open during regular working hours from March 29 to 31 to assist policyholders with their tasks. This move is in accordance with an advisory issued by the Insurance Regulatory and Development Authority of India (IRDAI) on March 12. As a result, LIC offices under the jurisdiction of its zones and divisions will remain open for three days, ensuring that policyholders can complete their tasks without any hassle.

This decision is likely to benefit policyholders who need to conduct various tasks, such as renewing policies, making premium payments, or updating their policy details. By keeping its offices open, the LIC is providing policyholders with a convenient and accessible option for completing their tasks. Additionally, this move may also help reduce the burden on agents and other intermediaries who often bear the brunt of policyholder inquiries and requests.

The LIC’s decision to keep its offices open is also a testament to the organization’s commitment to providing excellent service to its policyholders. By offering an extended period of office hours, the LIC is demonstrating its willingness to go the extra mile to ensure that its customers receive the best possible experience.

In conclusion, the LIC’s announcement to keep its offices open from March 29 to 31 is a positive step towards improving the lives of policyholders. It will provide them with an opportunity to complete their tasks without any hassle, and demonstrate the organization’s commitment to delivering excellent customer service.

The Life Insurance Corporation (LIC) has announced that its branches will remain open during the upcoming weekend and even on Monday, which is a holiday on account of Eid in many parts of the country. This decision is aimed at facilitating policyholders to deposit their premium on time. According to an official statement, LIC’s offices under the jurisdiction of zones and divisions will operate normally on March 29, March 30, and March 31, which are regular working days.

This move is in line with the advisory issued by the Insurance Regulatory and Development Authority of India (IRDAI) dated March 12, 2025. The IRDAI’s advisory is likely designed to ensure that policyholders do not face any difficulties in depositing their premiums, which is essential to maintain the continuity of their insurance coverage.

By keeping its branches open, LIC is providing an opportunity for policyholders to deposit their premiums in a timely manner, thereby ensuring that their insurance coverage remains uninterrupted. This decision is likely to be welcomed by policyholders who may have been facing difficulties in depositing their premiums due to the holiday on Monday.

In conclusion, LIC’s decision to keep its branches open during the weekend and on Monday is a customer-centric move aimed at ensuring that policyholders can deposit their premiums on time and maintain the continuity of their insurance coverage. This decision is in line with the IRDAI’s advisory and is likely to be beneficial for policyholders.

The Reserve Bank of India (RBI) recently intervened in the foreign exchange market, injecting liquidity to stabilize the currency. This move led to a significant drop in the value of Life Insurance Corporation of India’s (LIC) investments, resulting in a staggering loss of approximately Rs 84,000 crore.

In the first week of August, the RBI had injected around Rs 2.5 lakh crore of liquidity into the system, which helped to stabilize the foreign exchange market. This, in turn, led to a significant depreciation of the Indian rupee (INR) against the US dollar (USD). The rupee, which was trading at around 78-79 against the dollar, slumped to over 82-83 levels. This sudden depreciation affected the value of LIC’s investm

The District Consumer Disputes Redressal Commission in Shivamogga has ruled in favor of Bhagya and Nagaraj, ordering the Life Insurance Corporation of India (LIC) to compensate them for the denial of an insurance claim related to their late brother’s policies. The complainants had purchased 11 insurance policies with a total sum assured of Rs. 11.5 lakhs, but when Shivu, the policyholder, passed away due to a heart attack, LIC rejected their claim, citing that he had concealed pre-existing medical conditions at the time of purchasing the policies.

The district commission issued notices to LIC and its officials, with some respondents failing to appear, while others attended the proceedings through legal representation. LIC’s legal counsel argued that the complainants had deliberately concealed information about Shivu’s prior health conditions and fraudulently obtained the insurance policies, justifying the rejection of the claim. However, the commission found that LIC had committed a deficiency in service, breaches of regulatory norms, and was liable to pay compensation to the complainants.

The commission’s ruling is a significant development, as it establishes that insurance companies owe a duty of care to policyholders and must conduct thorough investigations before rejecting claims. The decision also highlights the importance of consumers exercising their rights, as reflected in the Consumer Protection Act, and holding insurance companies accountable for their actions. In this case, the commission’s ruling is a strong indication that consumers will not be taken for granted, and that insurance companies must operate with transparency and accountability.

The Life Insurance Corporation of India (LIC) has introduced a new insurance product, the LIC Smart Pension Plan, which is a non-linkage, non-participating savings plan for individuals and group participants. This plan offers savings and immediate annuity functions, allowing policyholders to choose from various annuity options and receive lump-sum death benefits through periodic installments.

The plan is open to individuals between 18 and 100 years old, and provides two annuity options: Single Life Annuity and Joint Life Annuity. Policyholders can choose from monthly, quarterly, semi-annually, or annually payment frequencies.

Loans can be obtained against the policy after three months of issue or after the free-look period is over. The loan amount is capped at 80% of the surrender value, with an annual interest payment not exceeding 50% of the annual annuity.

The plan offers benefits for NPS (National Pension Scheme) subscribers, allowing for a seamless transition to a retirement income. Additionally, the plan can be purchased for the benefit of Divyangjan (persons with disabilities) as an annuitant, with the death benefit used to purchase an immediate annuity for the nominee.

The LIC Smart Pension Plan can be bought online or offline through LIC agents, common public service centers, or the official LIC website. The plan’s features and benefits offer a reliable source of income for individuals and groups, providing peace of mind and financial security in retirement. With its flexible annuity options, loan facility, and coverage for Divyangjan, this plan provides a comprehensive retirement solution.

Centrico Insurance Repository, a subsidiary of Central Depository Services Limited (CDSL), has partnered with the Life Insurance Corporation of India (LIC) to provide digital insurance repository services. This collaboration aims to enhance paperless policy management, allowing policyholders to store and modify electronic policies. The partnership is expected to boost digital accessibility and efficiency in the insurance sector. Centrico currently partners with 43 insurers, including 23 life insurance companies, strengthening its network in digital insurance services.

LIC, India’s largest life insurer, achieved a new business premium of ₹3.36 trillion in FY25, solidifying its position as a market leader. The partnership between Centrico and LIC will encourage digital transformation in the insurance sector, providing policyholders with greater convenience and security.

The partnership will allow policyholders to manage their policies electronically, making it easier to access and modify their policies from anywhere, at any time. This technology-driven initiative is expected to increase transparency, reduce paperwork, and provide a seamless experience for policyholders. The partnership is a significant step towards digitalization in the insurance sector, which will lead to improved operational efficiency and better customer service.

In conclusion, the collaboration between Centrico Insurance Repository and LIC will have a profound impact on the insurance sector, promoting a more streamlined and paperless insurance management system. This partnership will create a more efficient and secure environment for policyholders, ultimately benefiting the insurance industry as a whole.

Harsh Mariwala, the former Chairman of Marico Limited, has significant holdings in Indian Life Insurance Corporation (LIC) Portfoy, a popular mutual fund in India. The stock has been trending upwards and is now nearing a breakout from its consolidation phase. This could be a sign of growth and profitability in the coming times.

Mariwala’s portfolio is managed by the Indian giant, LIC, which is known for its strong track record and consistent performance. The stock has shown resilience and has been able to withstand market fluctuations. This is a positive sign, indicating that investors should keep an eye on this stock, which could potentially be on the verge of a breakout.

The stock’s recent trend indicates a strong support at around 12.75, indicating a potential bottoming out of the stock. If this level holds, it could be a strong sign of growth, as it would indicate that the stock is reversing its downward trend and is on the rise. With Mariwala’s strong endorsement, this could be a savvy investment opportunity for those looking to invest in Indi.

Another key indicator is the relative strength index (RSI), which shows that the stock is strong and has been moving upwards. This suggests that the stock has the potential to continue its upward trend, and with the strong support at 12.75, it could be a good idea to keep this stock on your watchlist.

History shows that this stock has performed well during market downturns, indicating its resilience. With this in mind, investors should consider this stock as an option for their portfolio, especially if they are looking for a stable equity that can provide long-term returns.

Vakrangee Limited, a LIC-backed BSE Smallcap company, is planning to expand its ATM network by deploying 3,000 new ATMs in the fiscal year 2025-26. As part of this expansion, the company will be setting up UPI-based ATM machines, which are gaining popularity due to their simplicity and cardless cash withdrawal capabilities. This expansion is expected to benefit millions of customers, particularly those living in Tier 4 to Tier 6 cities, where access to traditional banking infrastructure remains limited.

Vakrangee currently has 6,050 White Label ATMs, with 76% of them located in Tier 4 and 6 cities. The company has also acquired Vortex Engineering Private Limited, a subsidiary that enables backward integration, cost synergies, and advanced technology adoption. Vortex was incubated by IIT-Madras and holds nine patents, reinforcing its role in the “Make in India – Atma Nirbhar Bharat” initiative.

The planned ATM expansion is part of Vakrangee’s broader vision of providing seamless digital and physical banking experiences under one roof. The company’s “Vakrangee Kendra” serve as one-stop solutions for various banking, insurance, e-commerce, and financial services. The additional ATMs will not only enhance cash availability but also cater to the needs of underserved regions.

Meanwhile, the Indian stock market indices, Sensex and Nifty, continued their upward trend on March 25, 2025, with investors’ sentiment remaining firm amid foreign fund inflows and a rally in the US markets. The 30-share BSE benchmark Sensex jumped 418.54 points to 78,402.92, while the NSE Nifty climbed 107.85 points to 23,766.20.

The Life Insurance Corporation of India (LIC) offers a special scheme called the Smart Pension Scheme, designed to provide financial stability to individuals through pensions. This single-premium policy allows individuals to invest once and enjoy a lifetime pension. The scheme is suitable for people of all ages and classes, providing a steady income after retirement. It can also be opened in a joint account, ensuring the surviving spouse continues to receive a pension for life.

To be eligible, individuals must be between 18 to 65-100 years old, and anyone, regardless of employment status, can invest. The scheme offers various annuity options, including monthly, quarterly, semi-annually, and annually, with the benefit of annuity payments to nominees after the policyholder’s death.

Applicants can apply online through LIC’s official website (www.licindia.in) or through an LIC agent, POSP-Life Insurance, or Common Public Service Center. The minimum pension ranges from Rs 1,000 to Rs 12,000, depending on the frequency of payments.

The Smart Pension Scheme is a valuable option for individuals seeking financial security after retirement. By investing in this scheme, individuals can look forward to a stable income stream, ensuring a comfortable post-retirement life.

Vakrangee Limited, a penny stock backed by state-run LIC, is in the spotlight as it announces plans to expand its ATM network by deploying 3,000 new UPI-based ATM machines in the next financial year. The company, which is a constituent of BSE Smallcap index, currently has 6,050 White Label ATMs, with 76% of its outlets located in Tier 4 and 6 cities.

As part of this expansion, the company aims to bridge the financial accessibility gap in India and strengthen its position as a key player in financial inclusion and the ATM industry. The company’s Managing Director, Vedant Nandwana, said that the focus remains on bridging this gap, and the company is committed to providing simpler and cardless cash withdrawals through the new UPI-based ATMs.

The company has already received over 465 new applications for setting up new ATMs, reflecting strong demand and confidence in its ATM expansion initiative. Moreover, it has signed a pact with Tata AIG Limited and Shriram Life Insurance to provide easy access to comprehensive life insurance products across the country through its Vakrangee Kendra network.

As per the shareholding pattern, LIC owns more than 4% stake in the company, while promoters own 41.67%, and FIIs have 2.82% ownership. Insurance companies own 4.47% stake in the company. With a market capitalization of Rs 1,187.18 crore, the company is a BSE Smallcap company.

The article discusses a Less Invasive Cranial (LIC) surgery-backed penny stock company, which has announced plans to set up Universal Payment Interface (UPI)-based Automated Teller Machines (ATMs). The company, which is a small-cap entity, has received funding from LIC to support this venture. The UPI-based ATMs will be designed to allow customers to use various digital payment modes, including UPI, cards, and cash, to make transactions.

The company plans to install the ATMs in high-traffic areas, including shopping malls, corporate campuses, and entertainment zones. The ATMs will be equipped with advanced biometric authentication and advanced software to ensure seamless transactions. The company believes that this technology will reduce wait times and increase transaction speed.

The article highlights the company’s financials, stating that the company has reported a net profit of 150,000 and a market capitalization of5,000. The financials indicate that the company has been able to list its shares on the regional stock exchange and has a promising stock price trajectory.

The article also discusses the potential benefits of the UPI-based ATMs, including reduced costs, increased convenience, and enhanced security. The company believes that this technology will revolutionize the way customers make transactions and increase its brand visibility.

However, the article notes that the company’s plans are still in the development stage, and there are concerns about the regulatory framework for these ATMs. The company will need to obtain necessary regulatory approvals before launching the project.

The article concludes by stating that the positive financials and growth prospects of the company make it an attractive bet for investors. The company’s foray into the UPI-based ATM industry is seen as a strategic move to increase its presence in the market and enhance its competitive edge.

Overall, the article highlights the company’s plans to set up UPI-based ATMs, its financials, and the potential benefits and concerns related to the project. It is an analysis of the stock as a potential investment opportunity for investors interested in the fintech and digital payment sectors.

Indian Overseas Bank (IOB) has successfully raised Rs 1,436 crore through the Qualified Institutional Placement (QIP) route. The QIP, which was oversubscribed, received bids worth Rs 2,236 crore, indicating strong investor interest in the bank’s stake sale.

LIC, one of India’s largest institutional investors, bagged the largest chunk of the stake, picking up 15.5% of the total shares on offer. IIFL Finance, another prominent investor, purchased 10.2% of the stake, while State Bank of India (SBI) Pension Fund, which is a significant investor in public sector banks, acquired 7.5% of the total shares.

The QIP was marked by strong participation from institutional investors, with foreign funds and(mutual funds) scooping up a significant portion of the stake. Other notable bidders included Credit Suisse, Baring Private Equity, and the Abu Dhabi Investment Authority.

IOB’s QIP was done through the preferential allotment of 41.4 crore shares at a price of Rs 34.5 per share, which represents a discount of 4.3% to the bank’s closing price on the BSE. The proceeds from the QIP will be used to augment the bank’s capital base, which will enable it to strengthen its balance sheet and support future growth.

The QIP comes at a critical juncture for IOB, which has been under the Reserve Bank of India’s (RBI) prompt corrective action (PCA) framework since 2017. The bank has been working to strengthen its capital adequacy ratio and overcome its Board-approved threshold trigger, which requires it to raise fresh capital to maintain regulatory compliance.

The successful QIP will provide IOB with a significant boost, enabling the bank to reinvigorate its lending activities, improve its profitability, and expand its presence in the Indian banking landscape. With a larger capital base, IOB will be better equipped to confront the challenges posed by the current pandemic and the changing economic landscape.

Overall, the QIP is a testament to the bank’s resilience and ability to attract investors in a challenging market environment. It also underscores the confidence that institutional investors have in IOB’s growth prospects and its ability to overcome its current challenges and emerge stronger in the future.

The Life Insurance Corporation of India (LIC) is planning to acquire a stake in a standalone health insurance company by the end of the current financial year (FY25), according to its Managing Director and CEO, Siddhartha Mohanty. However, the name of the company has not been disclosed. The discussions are reportedly in the final stage, and Mohanty is hopeful that a decision will be made by the end of March 31. LIC is not planning to acquire a majority stake in the company.

This announcement comes as no surprise, as LIC has previously expressed its interest in the health insurance sector. The company is one of the largest life insurers in the country and is looking to diversify its portfolio by entering the health insurance market. The move is seen as a natural choice for the company, given the growing demand for health insurance in the country.

Currently, there are seven standalone health insurance companies in India, and LIC is looking to join this ranks by acquiring a stake in one of these companies. The acquisition is expected to strengthen LIC’s presence in the health insurance segment and provide an opportunity for the company to tap into the growing demand for health insurance in India.

In a related development, LIC has also sought permission from the Reserve Bank of India (RBI) to issue additional long-term bonds. The company has already been issued 40-year bonds, and now it is looking to issue 50-year and 100-year bonds. The move is aimed at managing LIC’s investment and asset-liability management, which is essential for long-term investors like the company. The RBI has already introduced 50-year bonds to meet the growing demand from insurance and pension funds.

The LIC Smart Pension Plan is a flexible annuity option that offers policyholders a range of payout frequencies to suit their needs. The plan allows for a minimum investment of Rs 1 lakh, with no upper limit, making it a suitable option for individuals with a significant sum to invest. One of the key features of this plan is the flexibility to choose the annuity amount and frequency, which can be tailored to the policyholder’s requirements.

Policyholders can choose from a range of minimum annuity amounts, including:

* Rs 1,000 per month
* Rs 3,000 per quarter
* Rs 6,000 per half-year
* Rs 12,000 per year

This flexibility allows policyholders to choose an annuity amount that meets their financial needs and goals. The plan also offers the option to invest the entire corpus or a portion of it in a fixed return annuity, providing a regular income stream.

The LIC Smart Pension Plan is designed to provide a financial security and guaranteed income for life, allowing policyholders to focus on their post-retirement goals and expenses. The plan is suitable for individuals who want to provide for their dependents, cover unexpected expenses, or achieve a stress-free post-retirement life.

The plan also offers a range of other benefits, including:

* Guaranteed returns: The plan provides a guaranteed rate of return on investment, ensuring that policyholders receive a stable income stream.
* Tax benefits: The plan offers tax benefits under Section 80C of the Income-tax Act, allowing policyholders to claim tax deductions on their premium payments.
* Loyalty additions: The plan offers loyalty additions, which increase the policy’s accumulated value over time.
* Riders: The plan offers optional riders, such as accident or critical illness riders, which provide additional protection and benefits.

Overall, the LIC Smart Pension Plan is a flexible and secure annuity option that provides policyholders with a range of choices to meet their financial needs and goals.

The Insurance Regulatory and Development Authority of India (IRDAI) has reconstituted its Insurance Advisory Committee (IAC), appointing new members from diverse backgrounds. The IAC advises IRDAI on regulatory matters related to the insurance industry. The new members include:

* MR Kumar, former chairman of Life Insurance Corporation (LIC)
* Dinesh Kumar Khara, former chairman of State Bank of India (SBI)
* Vishakha Mulye, CEO of Aditya Birla Capital
* Nilesh Shah, MD of Kotak Mahindra Asset Management Company
* Alice Geevarghese Vaidyan, former chairman and MD of General Insurance Corporation Re (GIC Re)

The IAC’s roles and structure are crucial in providing expert recommendations to IRDAI on regulatory matters. The committee can have up to 25 members, excluding the chairperson and other ex-officio members. IRDAI has also proposed changes to the IAC’s operations, including:

* Shifting from a calendar year to a financial year format for meetings
* Reducing the notice period for meetings from seven days to 24 hours, subject to the chairperson’s approval
* Renaming the “designated officer” to “secretary to the authority”
* Introducing provisions for the resignation and removal of committee members
* Allowing the chairperson to determine the mode, place, and timing of meetings

These changes aim to streamline the advisory process and enhance the effectiveness of regulatory decision-making. The reconstitution of the IAC reflects IRDAI’s commitment to leveraging expertise from across the financial and insurance sectors. With this development, the regulator seeks to improve the efficiency and effectiveness of the insurance industry’s regulatory framework.

The article discusses the potential entry of Life Insurance Corporation (LIC) into the health insurance market. If LIC enters the market, it’s assumed that it would do so by buying a significant stake in an existing health insurance company, such as ManipalCigna. The author explores the pros and cons of this move.

On the positive side, LIC’s massive distribution network, with 14 lakh individual agents, 85 banks, and thousands of common service centers, could be a powerful channel for selling health insurance policies. This could lead to better penetration and more people getting insured. Additionally, LIC could innovate by offering “Combi products” that combine life insurance and health insurance, making it convenient for customers to buy both at the same time.

However, there are concerns about cross-subsidization, where LIC, with its highly profitable life insurance business, could offer health insurance products at lower premiums, potentially triggering a price war and affecting the profitability of other health insurance companies. Some argue that this could be a negative for the industry.

The author also notes that the Indian government has restricted life insurers from selling indemnity-based health insurance policies, allowing only general and specialized health insurers to do so. Reversing this policy after just a few years could be seen as unfair to investors.

The article concludes that it’s unclear how LIC will enter the health insurance market, but if it does, it will likely face stiff competition and regulatory challenges. The author ends by emphasizing the importance of getting a term plan, including its benefits, such as protection, security for parents, and lower premiums for early buyers.

According to a recent statement by Life Insurance Corporation of India (LIC) CEO and MD Siddhartha Mohanty, the organization is in discussions with the Reserve Bank of India (RBI) to introduce 50-year and 100-year bonds. This is an extension of the usual 20-30 year bond terms typically offered by the RBI, with the organization having already issued a 40-year bond in the past. In an interview at the 25th Global Conference of Actuaries in Mumbai, Mohanty shared that LIC is exploring this option as part of its strategy to fulfill long-term contractual obligations. The move is aimed at providing a more reliable source of funding for the organization’s long-term commitments. The development is part of the insurer’s efforts to strengthen its financial foundations and ensure that it can honor its obligations to policyholders and subscribers over an extended period.

Rahul Gandhi, the Leader of Opposition in the Lok Sabha, met with a delegation of LIC agents at his office in the Parliament House complex in New Delhi. The agents expressed concerns about recent changes in rules by the IRDAI and LIC, which they fear will make insurance less affordable for the poorest and most marginalized communities and weaken their position as agents.

Gandhi stated that the LIC was founded in 1956 with the goal of providing affordable insurance to all Indians, particularly the poorest who had no other social security. He has promised to raise this issue in Parliament to ensure that the inclusive vision of LIC is protected.

On March 19, 2025, a delegation of Life Insurance Corporation (LIC) agents met with Leader of Opposition in the Lok Sabha, Rahul Gandhi, at Parliament House in New Delhi. The agents expressed their concerns about recent changes in rules by the Insurance Regulatory and Development Authority of India (IRDAI) and LIC, which they believed would make insurance less affordable for the poor and marginalized communities and weaken their position as agents. The agents shared their worries about commission reduction, return of commission if a policyholder cancels their policy, and a reduced upper age limit for enrolling people in certain policies. Gandhi expressed his concerns, saying that the original focus of LIC, which was to protect the interests of the poor, is shifting towards a more commercial approach. He stated, “The original focus of LIC, which was protecting the interest of the poor, is changing and they are more and more moving away from this. So, we are raising the issue.” Gandhi also met with unions representing construction workers to discuss the challenges they face. This meeting highlights the growing concerns among LIC agents and workers regarding the recent changes in the insurance sector, which may lead to reduced accessibility and affordability for the poor and marginalized.

The Life Insurance Corporation (LIC) has introduced its new pension plan, the Smart Pension Plan, designed to provide a comprehensive, adaptable, and secure retirement solution for individuals and groups. This non-participating, non-linked plan offers a range of options for single and joint life annuities, catering to different financial goals and aspirations.

The plan is available for individuals aged 18 to 100, with the option to select from single life annuity or joint life annuity, depending on their financial situation. Policyholders can also opt for partial or full withdrawals under certain conditions, choose their preferred payment frequency, and take a loan after the free-look period ends.

The plan also offers special perks for National Pension System (NPS) subscribers, who can opt for an immediate annuity, and provides support for disabled dependents. The Smart Pension Plan is available for purchase through offline channels, such as LIC agents, intermediaries, and public service centers, or online through the official website.

Some of the key features of the plan include:

* Flexibility to choose from various annuity options, including single and joint life annuities, and payment frequencies
* Option to withdraw partial or full payments under specific conditions
* Loan availability after the free-look period ends
* Support for disabled dependents
* Special perks for NPS subscribers

The plan offers a minimum purchase price of Rs. 1,00,000 and no maximum cap, with annuity options ranging from Rs. 1,000 to unlimited. The premium payment mode is single premium only, and the plan provides death and life benefits, including regular payments for life or specific perks, depending on the annuity option chosen.

Overall, the LIC Smart Pension Plan is designed to provide a secure and adaptable retirement solution for individuals and groups, offering a range of options to suit different financial goals and aspirations.

The Life Insurance Corporation of India (LIC) is in talks with the Reserve Bank of India (RBI) to introduce 50-year and 100-year government bonds to the Indian financial market. This move is aimed at tapping the huge demand for long-term investments from the country’s pension funds, insurance companies, and foreign investors.

Introducing 50-year and 100-year government bonds will provide investors with an attractive option to invest in government securities for a longer tenure, which can help them earn higher returns and manage their long-term liabilities. Additionally, it will also help the government to raise funds at a lower cost, as longer-term bonds typically attract lower yields compared to shorter-term ones.

According to a report, LIC has already written to the RBI to explore the possibility of introducing 100-year government bonds, which would be a first for India. The insurance behemoth has also requested the regulatory body to consider introducing 50-year bonds, which would be a new addition to the existing range of government securities with tenures ranging from one year to 10 years.

The introduction of long-term government bonds is expected to have a positive impact on the Indian economy, particularly in terms of attracting foreign investment and supporting the country’s growing pension and insurance industries. It will also provide investors with an attractive alternative to other long-term investment options, such as fixed deposits and corporate bonds.

In conclusion, LIC’s initiative to engage with the RBI to introduce 50-year and 100-year government bonds is a significant development for the Indian financial market, which is expected to provide investors with a new range of investment options and support the country’s economic growth.

The Life Insurance Corporation of India (LIC) has launched its new Smart Pension Plan, a single premium pension scheme that provides various options for both single life and joint life annuities. The plan is designed to help individuals prepare for retirement and offers a one-time lump sum payment or installments over several years, with the benefit of receiving a pension upon retirement.

The LIC Smart Pension Plan features a single premium payment, multiple annuity options, liquidity options, and flexible payment schedules. The plan is available with a minimum purchase price of Rs 1,00,000, with special discounts for higher investments. The scheme also offers a unique feature for National Pension System (NPS) subscribers, allowing them to opt for an immediate annuity option.

The plan provides a lifetime annuity payment, with the beneficiaries receiving payments according to the plan after the policyholder’s death. The plan also offers cash options for partial or full withdrawals, with a cash Surrender Value (SV) and a death benefit.

The LIC Smart Pension Plan offers various benefits, including a minimum purchase price of Rs 1,00,000, with no upper limit on the maximum purchase price. Payments can be made on a yearly, half-yearly, quarterly, or monthly basis, and a cash option is available for partial or full withdrawals. The plan provides enhanced benefits based on the policyholder’s age, and higher investments can lead to premium discounts. Overall, the LIC Smart Pension Plan is a viable option for individuals looking to plan for a secure retirement.

Investing and saving have become a priority for many individuals, with various schemes and options available. One popular choice is the Life Insurance Corporation of India (LIC) policies, which offer impressive returns. Specifically, the LIC Jeevan Umang policy is gaining attention for its high returns. With a modest initial investment of just Rs 1,300, one can potentially build a fund of Rs 27.60 lakh, providing coverage for up to 100 years.

The policy is available for individuals aged 3 to 55, with a minimum insurance amount of Rs 2 lakh. Premium payment terms are flexible, lasting 15, 20, 25, or 30 years. For a 30-year plan, a monthly premium of Rs 1,302 is required, totalizing Rs 4.58 lakh over 30 years. This investment can potentially yield an annual return of Rs 40,000, resulting in a payout of Rs 27.5 lakh after 30 to 100 years.

In addition to the Jeevan Umang policy, other LIC schemes like Jeevan Anand and Jeevan Shanti offer promising returns. It is advisable to compare different policies before making an investment to ensure a secure future. It is crucial to note that any financial investment carries risk, and individuals should do so at their own responsibility.

The Life Insurance Corporation of India (LIC), India’s largest insurance company, has launched its Marketing Technology (MarTech) platform, a significant milestone in its digital transformation initiative, Project DIVELIC. This launch marks LIC’s first step towards becoming a global leader in the insurance industry, leveraging cutting-edge technology to revolutionize customer engagement at an unprecedented scale.

The MarTech platform enables hyper-personalized, always-on campaigns, enhancing customer experience and driving business growth. It is a strategic shift that positions LIC as a global leader in digital insurance innovation, shifting its focus from traditional marketing methods to a more seamless and personalized approach.

The launch of MarTech is a significant step forward in LIC’s commitment to innovation, customer centricity, and digital excellence. As Project DIVELIC progresses, LIC will introduce next-generation digital capabilities, ensuring it remains at the forefront of the global insurance landscape.

According to Siddhartha Mohanty, CEO & MD of LIC, this launch marks a new era for the company, redefining customer engagement in the insurance sector. The MarTech platform is more than a technology upgrade; it is a strategic shift that will help LIC connect with policyholders, prospects, and agents in a seamless and personalized manner.

The launch of MarTech is a significant milestone for LIC, paving the way for a more customer-centric approach. As the platform continues to evolve, it will be exciting to see the impact it has on the insurance industry as a whole.

Established institutions in India, such as Life Insurance Corporation of India (LIC) and UTI Mutual Fund, have successfully expanded their reach into rural India by employing specific strategies. The key strategies include building trust and relationships, adopting a localized approach, enhancing financial literacy and awareness, leveraging agent networks, and demonstrating long-term commitment.

To build trust and relationships, both organizations focus on consistent presence, reliability, and personalized service. They have also developed localized approaches, using local languages, employing local agents, and tailoring products to meet specific rural customer needs. Financial literacy and awareness are crucial, with education programs and workshops being conducted to explain complex financial concepts in simple terms.

UTI Mutual Fund, in particular, has emphasized the importance of investor awareness programs. The organizations have built extensive networks of agents, who serve as intermediaries between the company and rural customers, providing personalized service and facilitating transactions.

A long-term commitment to serving rural markets has made both organizations trusted partners in these communities. To tap into the vast potential of rural India, businesses can adopt these strategies, including simplifying financial products, making them easy to understand and easy to obtain. The key takeaways from these strategies are:

1. Trust is paramount: Building trust through consistent and reliable service is essential.
2. Localization is crucial: Tailoring products and services to meet specific rural needs is vital.
3. Financial literacy is key: Educating rural populations about financial products and services is essential for adoption.
4. Agent networks are valuable: Leveraging local agents can build relationships and facilitate transactions.
5. Long-term commitment is needed: Rural market penetration takes time and consistent dedication.

By understanding and implementing these strategies, businesses can effectively tap into the vast potential of rural India and expand their reach.

The Life Insurance Corporation of India (LIC) has launched a new scheme called Saral Pension Scheme that offers a guaranteed pension of ₹12,000 per month after retirement. This scheme is ideal for those who want to secure their future after retirement. To be eligible, candidates must be between 40 and 80 years old and not have a life insurance policy with any other insurance company. The scheme allows individuals to invest in an annuity, with options to pay for it every 3 months, 6 months, or 1 year. The amount invested determines the monthly pension, with a guaranteed monthly pension of ₹12,388 for an investment of ₹30 lakh.

One of the unique features of this scheme is the loan facility, which allows investors to take a loan after six months of premium payment. The loan amount is based on the investment amount. Moreover, the scheme also allows policyholders to surrender their policy at any time.

There are no limits to the maximum investment amount, making this scheme accessible to a wide range of individuals. The scheme is designed to provide a guaranteed income stream for life, giving investors peace of mind and financial security in their golden years. Those interested in this scheme can visit the official website to learn more and apply. The LIC Saral Pension Scheme offers a safe and guaranteed way to secure one’s future, making it an attractive option for those planning for retirement.

On March 14, 2023, Udupi Human Rights Protection Foundation president Ravindranath Shanbhag expressed his concerns about the lack of progress in resolving the issue of LIC’s Jeevan Madhur policyholders in Chikkamagaluru district. Over 50,000 policyholders have been waiting for justice for years, despite paying premiums to agents appointed by LIC’s Udupi Division. The policy, which was launched in 2005, offered a low-cost life insurance scheme, with beneficiaries paying a premium of ₹600 per year to receive a cover of ₹15,000.

However, when a beneficiary died in 2013, LIC refused to pay the insurance claim, citing that the policy was not in effect. The issue was brought to light, and the Chikkamagaluru District Consumer Forum ordered the Udupi Division to refund the premium amount with a penalty. Despite this, the agency did not pursue criminal cases against its agents. The cases of over 50,000 other beneficiaries are still pending before the State Forum, with the foundation taking up the cause of the defrauded policyholders since 2016.

Shanbhag lamented that the absence of a head for the Karnataka State Consumer Protection Forum since May 2024 and the vacancy of posts at many district forums are hindering justice for these policyholders. He questions the relevance of observing Consumer Rights Day on May 15, given the ongoing struggles of these policyholders, and urges the government to take immediate action to resolve this issue.

The article highlights the top 10 most valuable Indian brands in 2025, according to the Brand Finance Global 500 2025 Report. The list includes leading companies such as Tata Group, Infosys, HDFC, and more, showcasing India’s growing global presence across various industries. Tata Group, valued at $31.6 billion, leads the list, followed by Infosys, valued at $16.3 billion, and HDFC Group, valued at $14.2 billion. Other notable brands include LIC, Reliance Group, SBI Group, HCLTech, Airtel, Larsen & Toubro, and Mahindra Group. The article notes that India has emerged as a significant player globally, with 1.7% of the total brand value market, behind the United States which accounts for 52.9%.

These top 10 Indian brands have demonstrated resilience, innovation, and customer satisfaction, expanding their influence worldwide. The report highlights the growing importance of Indian companies in the global market, with many making significant strides in various sectors, including IT services, banking, insurance, and telecommunications. The article concludes that India’s top brands are paving the way for the country to become a major player on the global stage.

According to the Brand Finance Insurance 100 report for 2025, the Life Insurance Corporation of India (LIC) has been recognized as the world’s third strongest insurance brand, achieving a Brand Strength Index (BSI) score of 87.9 out of 100. This recognition highlights LIC’s robust market presence and the trust it has built with its extensive customer base. The report also notes that the combined brand value of India’s insurance sector, which includes LIC and SBI Life, has grown by 35% year-on-year, with a total brand value of $14.9 billion.

LIC’s brand value has experienced a significant surge, increasing by 36% to $13.3 billion. This impressive growth has propelled the company six places up the global rankings to 12th position among the most valuable insurance brands. The company’s high scores for familiarity and appeal in its home market, as well as its sustained AAA brand strength rating, are key factors in its success.

SBI Life, another Indian insurer, has also shown notable progress. Its brand value has increased by 27% to $1.6 billion, placing it 74th globally. The company’s strong performance can be attributed to its expanded product offerings, including unit-linked plans, term insurance, and annuity products designed to meet evolving customer needs. Overall, the report highlights the growing strength and global presence of India’s insurance sector, with LIC and SBI Life leading the way.

The Madhya Pradesh High Court has stayed the operation of the Industrial Tribunal’s order that restrained Life Insurance Corporation of India (LIC) from outsourcing the recruitment of class IV employees. The LIC had decided to outsource the recruitment, but a petition was filed against this decision, which was initially dismissed by the court in August 2023. Undeterred, the employees moved an application to the Industrial Tribunal, arguing that the process of reconciliation was still pending before the competent authority and that their terms and conditions of service cannot be changed.

The Industrial Tribunal eventually restrained the LIC from outsourcing the recruitment of class IV employees. This order was challenged by the LIC in the High Court, which granted a stay on the tribunal’s order after hearing all the parties involved. The stay will remain in place until the high court decides on the matter. The implications of the stay are that the LIC will be allowed to outsource the recruitment of class IV employees, but this is subject to the court’s final decision on the matter.

It is unclear what the next step will be, but this development may have significant implications for the LIC and its employees. The stay is a temporary reprieve for the LIC, which had been prevented by the Industrial Tribunal from outsourcing the recruitment. However, the long-term outcome is far from certain, and it remains to be seen how the court will ultimately rule on the matter. The stay is a respite for the LIC, but the matter is far from over, and the court’s final decision will have significant implications for all parties involved.

The Life Insurance Corporation of India (LIC) has reported a significant surge in group and individual premiums for the first 11 months of FY25. According to industry data, the corporation’s total premium collection stood at 1.90 lakh crore, a 1.90% increase from the corresponding period in FY24. The individual premium collection declined by 1.07% in February 2025, but the group premium collection saw a 13.53% rise to 4,898 policies. This growth was driven by an increase in group yearly renewable premiums, which rose by 28.29%.

Additionally, LIC’s standalone net profit for the December quarter saw a 17% year-on-year rise, reaching 11,056.47 crore, supported by a decline in management expenses, particularly employee-related costs. LIC’s group premium collection between April 2024 and February 2025 stood at 52,382.58 crore, with individual policies reaching 1.46 crore.

The corporation’s brand has also received recognition, as it was ranked as the third strongest insurance brand globally, with a Brand Strength Index (BSI) score of 88/100, according to the Brand Finance Insurance 100 – 2025 report. In terms of overall brand value, LIC held the 12th position among the world’s most valuable insurance brands, while SBI Life ranked 76th. This data highlights LIC’s significant presence in the insurance industry, not only in India but also globally.

The Life Insurance Corporation of India (LIC) has reported a significant surge in its premium collections and policy sales during the first 11 months of FY25. According to the latest industry data, LIC’s group yearly renewable premiums rose by 28.29% to Rs 1.90 lakh crore, while individual premiums saw a 7.9% increase. The insurer also issued 12.02 lakh policies under the individual category and 1,430 policies and schemes under the group yearly renewable segment. Overall, LIC’s total number of policies sold during the period stood at 12.04 lakh.

In terms of premium collections, LIC’s individual premiums for the 11-month period ending February 2025 totalled Rs 52,382.58 crore, with individual category policies reaching 1.46 crore. Policies and schemes under the group yearly renewable segment stood at 23,693, and the total number of LIC policies sold during the period totalled 1.46,72,007.

The insurer’s financial performance is also notable, with a 17% year-on-year rise in standalone net profit for the December quarter, reaching Rs 11,056.47 crore. This growth was supported by a decline in management expenses, particularly employee-related costs. Additionally, LIC has been ranked as the third strongest insurance brand globally, with a Brand Strength Index (BSI) score of 88/100, and holds the 12th position among the world’s most valuable insurance brands. SBI Life is the only other Indian insurer to feature in the global top 100, ranking 76th.

The Life Insurance Corporation of India (LIC) offers policies that are backed by a sovereign guarantee, similar to small savings schemes such as the Public Provident Fund (PPF) and Senior Citizen Savings Scheme (SCSS). This means that even if LIC fails, the government would pay the sum assured to policyholders. The sum assured on all LIC policies is governed by the Life Insurance Corporation Act, 1956, Insurance Act, 1938, and IRDAI Act, 1999, and is supported by the government’s sovereign guarantee.

The bonus payable on LIC policies is determined by the surplus generated each year, and the insurer strives to generate returns while ensuring a risk-reward balance. LIC offers various life insurance policies, including money back plans and pension plans, but the annualized returns from these policies are generally lower than those from small savings schemes.

The minister of state for finance, Pankaj Chaudhary, has also clarified that there is no plan to reduce the minimum age for endowment plans from 55 to 50 years. However, LIC policies already cater to different age and income groups, and the maximum age of entry for some plans, such as the New Endowment Plan, has been modified to 50 years.

LIC offers a range of products, including Micro Bachat, Single Premium Endowment Plan, and Pension Plus, which cater to the needs of various segments of society, including low-income individuals and those in rural India. These products offer a minimum sum assured of as low as Rs. 1 lakh, making them accessible to a wider range of people. Overall, LIC’s policies are designed to cater to the diversified needs of citizens, while providing a sovereign guarantee on the sum assured.