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Life Insurance Corporation of India (LIC) has launched the “One Man Office” (OMO) online service, aimed at empowering its sales force and enhancing digital services for policyholders. The OMO is a digital ecosystem designed for LIC’s sales representatives, including Agents, Development Officers, Senior Business Associates, Chief Life Insurance Advisors, LIC Associates, and Chief Organizers.

The OMO, launched on February 17, 2023, is a powerful tool for sales representatives, enabling them to promote life insurance and serve customers anytime, anywhere. The system is expected to drive the vision of “Insurance for All by 2047”. OMO is designed to assist agents in various ways, including digital policy sales, after-sales services for customers, business tracking, and training and knowledge enhancement.

The OMO operates through the ANANDA (Atma Nirbhar Agents New Business Digital Application) platform, offering a range of features, including a premium calculator, benefit illustrations, E-NACH registration for seamless payments, address change and online loan requests, renewal premium payments, claim-related requirement submissions, a knowledge center, health/insurance calculators, office locator, and NEFT search.

The insurance corporation plans to continuously expand OMO’s features in phases, adapting to the evolving needs of its users. In essence, OMO serves as a mobile digital office, providing sales representatives with an easy-to-use, one-stop solution accessible via mobile phones, making them self-reliant (Atma Nirbhar). The OMO is expected to revolutionize the way LIC operates, providing a more streamlined and efficient service to its customers and enhancing the overall insurance experience.

The Life Insurance Corporation of India (LIC), a government-owned insurance company, has launched a new digital marketing platform, marking the beginning of its digital transformation. The MarTech platform aims to simplify insurance processes, offering personalized customer interactions, and enhancing LIC’s reputation in the insurance industry. The platform will facilitate seamless connections between policyholders and agents, enabling hyper-personalized, multi-channel marketing, and providing comprehensive information about policies.

According to LIC’s Managing Director and CEO, Siddharth Mohanty, the introduction of MarTech represents a significant shift towards digital transformation, positioning LIC as a frontrunner in digital insurance innovation. The company aims to lead the digital insurance landscape, with Project DIVE reflecting its forward-thinking vision.

The MarTech platform is part of the initial phase of the project, with plans to introduce more digital features in the future. The advantages of this technology include enhanced connections between policyholders and agents, personalized marketing, and easy access to policy information. With this launch, LIC is set to solidify its position in the global insurance market, offering a whole new level of service and convenience to its customers.

The State-owned Life Insurance Corporation of India (LIC) has launched its marketing technology (MarTech) platform, a major milestone in its Project DIVE (Digital Innovation and Value Enhancement). This platform aims to redefine customer engagement and represents LIC’s first step towards becoming a global digital champion in the insurance industry. The MarTech platform offers an intelligent, multi-channel engagement capability that enables hyper-personalized, always-on campaigns to enhance customer experience and drive business growth. This launch is a significant shift that positions LIC as a global leader in digital insurance innovation.

According to LIC’s MD and CEO, Siddhartha Mohanty, the MarTech platform is more than just a technology upgrade, but a strategic shift that will redefine customer engagement in the insurance sector. He emphasized that the platform will enable the company to connect with policyholders, prospects, and agents in a seamless and personalized manner.

The launch of MarTech is the first pillar under Project DIVE, which is a testament to LIC’s vision for the future. The company remains committed to setting new industry benchmarks and will continue to introduce next-generation digital capabilities to stay at the forefront of the global insurance landscape. With this launch, LIC aims to leverage world-class technology to revolutionize customer engagement at an unprecedented scale, solidifying its position as a global insurance leader.

Life Insurance Corporation of India (LIC) has launched its marketing technology (MarTech) platform, a major milestone in Project DIVE (Digital Innovation and Value Enhancement), aimed at redefining customer engagement and driving digital innovation in the insurance industry. This marks the first step in LIC’s journey to become a global digital champion in the insurance sector, leveraging world-class technology to revolutionize customer engagement at an unprecedented scale.

The MarTech platform is designed to provide an intelligent, multi-channel engagement capability, enabling LIC to run hyper-personalized, always-on campaigns that enhance customer experience and drive business growth. The platform also positions LIC as a global leader in digital insurance innovation, according to LIC MD and CEO Siddhartha Mohanty, who described it as “more than just a technology upgrade, it is a strategic shift”.

Project DIVE is a significant initiative for LIC, aimed at setting new industry benchmarks and reinforcing its commitment to innovation, customer centricity, and digital excellence. The launch of the MarTech platform is the first pillar under Project DIVE, with future plans to introduce next-generation digital capabilities to remain at the forefront of the global insurance landscape.

The MarTech platform is expected to have a significant impact on the insurance industry, enabling LIC to connect with customers, prospects, and agents in a seamless and personalized manner. The launch of this platform marks a significant step forward for LIC’s digital transformation, setting the stage for further innovation and growth in the industry. With the MarTech platform, LIC is poised to take the lead in digital insurance innovation, redefining customer engagement and setting new standards for the insurance industry as a whole.

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The LIC Kanyadan Policy is a specialized plan offered by the Life Insurance Corporation (LIC) to secure the future of daughters. With inflation on the rise, parents are concerned about their children’s education and marriage. This plan allows parents to invest in their daughter’s future, providing a lump sum of ₹22.5 lakhs. The policy is designed for daughters between 1-10 years old, and the father’s age should be less than 50 years.

The Kanyadan Policy is a term insurance plan with a tenure of 13-25 years. The premium can be paid monthly, quarterly, half-yearly, or yearly. At maturity, the investor receives the total amount, including the Sum Assured + Bonus + Final Bonus. The plan offers additional benefits, including loan facilities, surrender options, and a grace period for premium payments. Tax benefits are also available under Section 80C on premium payments and Section 10D on maturity.

The policy offers a loan facility after three years and can be surrendered after two years. If the policyholder delays a premium payment, they can pay it within 30 days without a late fee. The maturity benefit is substantial, with an annual premium of around ₹3,447 for 22 years, resulting in a total payout of approximately ₹22.5 lakhs.

In the event of the policyholder’s death, the daughter does not have to pay the remaining premiums. She will receive ₹1 lakh per year for 25 years and a lump sum amount at maturity. Additionally, if the policyholder dies in a road accident, an extra accidental death benefit of ₹10 lakhs is provided to the nominee.

Overall, the LIC Kanyadan Policy is a valuable option for securing a daughter’s future, offering a range of benefits, including tax benefits, loan facilities, and protection for the policyholder and their daughter. With its affordable premiums and substantial maturity benefit, this policy is an excellent choice for parents concerned about their daughter’s future.

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India is home to some of the world’s largest businesses, operating across various industries such as banking, IT, oil and gas, and autos. These companies play a significant role in the country’s economic growth, with many being well-known globally. The top 10 Indian companies with the highest revenue are led by Reliance Industries, owned by Mukesh Ambani, which operates in retail, telecom, and energy sectors, with a revenue of ₹922391 crore (approximately $123 billion USD). Next is Life Insurance Corporation (LIC), the country’s largest insurance provider, with a revenue of ₹860795 crore.

Other top companies include Indian Oil Corporation, ONGC, State Bank of India, Bharat Petroleum Corporation, and Tata Motors, which are all partially or fully owned by the government of India. They are major players in the oil and gas, banking, and automotive sectors, and contribute significantly to India’s GDP. Private banks like HDFC Bank, Tata Consultancy Services, and ICICI Bank also feature among the top 10, with HDFC Bank being one of the top private sector banks driving economic growth.

These top 10 Indian companies are not only significant players in their respective industries but also have a crucial impact on international markets, setting new standards for the business world. A report by Fortune India ranked these companies based on their revenue, providing a snapshot of the top 10 Indian companies with the highest revenue. The list is topped by Reliance Industries, which has been a major player in the energy, retail, and telecom sectors.

This summary highlights the significant contribution of these Indian companies to the country’s economic growth and their presence in international markets. The list demonstrates the dominance of government-owned companies, as well as the rise of private sector players, in shaping India’s economy.

A felicitation-cum-awareness program was held in Doda to mark the launch of the Bima Sakhi Scheme, a new initiative by the Life Insurance Corporation of India (LIC) to empower women through self-employment and community support. The scheme aims to integrate women into the insurance sector, providing them with a sustainable livelihood option and enhancing insurance penetration at the grassroots level. 75 women from the district were appointed as Bima Sakhis, taking on the role of financial facilitators to spread awareness about the benefits of insurance.

The program was inaugurated by Deputy Commissioner Harvinder Singh, who emphasized the significance of the scheme in promoting financial inclusion and empowering women. He appreciated LIC for bringing this initiative to Doda and urged the newly appointed Bima Sakhis to work with dedication in spreading awareness about the benefits of insurance. The DC also encouraged participants to avail the benefits of government-sponsored schemes offered by Agriculture, Power Development Department (PDD), and other departments.

The event was attended by LIC officials, government officials, and representatives from banking institutions. LIC officials provided a brief history of LIC India’s development and highlighted important information regarding the Bima Sakhi Scheme. The scheme offers a new opportunity for women to access various government schemes and improve their economic well-being. The DC encouraged the Bima Sakhis to take advantage of the Holistic Agriculture Development Program (HADP) for better livelihood opportunities. Overall, the program aimed to create awareness about the scheme and empower women through self-employment and community support.

According to a regulatory filing made by the Life Insurance Corporation of India (LIC) on February 5, 2023, the company has received a demand notice from the Central and several states worth approximately Rs. 105.42 crores for delayed Goods and Services Tax (GST) payments covering the period of 2017-18 to 2023-24. This demand, issued on the same day, consists of payments plus interest and penalties. Permits the GST’s Commissioner, Appealing of Appeal, according to the Corporation filing. Prior notice of “little influence the outcome of funds activities, financing operation, organization etc.” Has claimed that for it.

Please check the material out for extra and details here or the Corporation and its offices the GST amount along with rates along with 50% Penalty from the remaining Balance and all together 51 Percentage. Now The LIC as also the main taxpayer of any one. Every State has more other taxpay in the name from LIC other names of and Insurance companies along this and tax are the GST other. According

A shocking incident of insurance fraud has come to light in Kothagudem, where a person named Bhukya Sriramulu allegedly faked his own death in collusion with a LIC agent and another individual. The trio obtained a fake death certificate from Kukkunur in Andhra Pradesh and submitted it to the local LIC office, claiming that Sriramulu had passed away. The insurance money of Rs 10 lakh was subsequently withdrawn, with the LIC agent taking Rs 5.50 lakh, Sriramulu’s family taking Rs 3.50 lakh, and the third person taking Rs 1 lakh.

However, the scheme was exposed when the three individuals refused to pay a person who had information about their misdeed. LIC officials launched an investigation and visited Sriramulu’s house, only to find him alive. The insurance money was recovered from the individuals who had swindled it. The LIC officials are conducting a thorough investigation into the matter, but have yet to lodge a police complaint.

The incident highlights the extent to which insurance fraud can go, and the need for stricter measures to prevent such cases. It also raises questions about the role of the LIC agent in the scam, and whether they were aware of the fake death certificate. The investigation is ongoing, and it remains to be seen what further action will be taken against the individuals involved.

The Life Insurance Corporation of India (LIC) is set to discuss the potential recruitment of 20,000 Assistant vacancies and the issue of staff permanency at the 19th All India Conference of the National Federation of Insurance Workers (NFIW) in Ajmer from February 9-10, 2025. The conference will bring together key representatives from the insurance sector and trade unions to shape LIC’s future hiring strategy and address concerns regarding temporary employees.

The proposed recruitment of 20,000 Assistants would be one of the largest hiring initiatives by LIC in recent times, catering to the growing operational needs of the organization, particularly in branch offices across India. This would create a significant opportunity for job seekers to build a career in India’s leading insurance sector. Additionally, the conference will discuss the demand for staff permanency, with many LIC Agents seeking regularization of their employment status to obtain job security and benefits similar to permanent employees.

The outcome of the conference will have a significant impact on both existing LIC employees and job aspirants. If the recruitment of 20,000 Assistants is confirmed, it will lead to improved employment opportunities and strengthen LIC’s workforce. Moreover, if the demand for staff permanency is accepted, it will improve job stability for thousands of LIC employees currently working on a temporary basis. The conference will be an important platform for LIC to resolve these issues and enhance employee satisfaction, ultimately benefiting both the organization and its employees.

A Life Insurance Corporation (LIC) agent has been booked by the Sonepat police for allegedly attempting to dupe the company by claiming an insurance amount of ₹1 crore using a fake death certificate. The accused, identified as Dharambir, a resident of Mayur Vihar in Sonepat, had taken out a high-value life insurance policy for Praveen Kumar, a resident of Tharu village, without informing him.

Dharambir had somehow managed to get a copy of Praveen’s Aadhaar card and opened a bank account in his name in Sonepat. He deposited 10 monthly installments of ₹60,000 each in Praveen’s name and listed himself as Praveen’s brother and nominee. Later, he furnished documents claiming Praveen was ill and submitted a fake death certificate to claim the insurance.

However, the scam was uncovered when an LIC official visited the correspondence address in Delhi listed on the policy and found no one there. The official then traced Praveen’s original address and discovered him alive and unaware of the LIC policy. An investigation has been launched into the case based on a complaint filed by Praveen.

The police spokesperson revealed that Dharambir’s married daughter is Praveen’s neighbor, and it is unclear how he managed to get his hands on Praveen’s Aadhaar card and personal information. The incident highlights the need for vigilance and scrutiny in insurance transactions to prevent such fraudulent activities.

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The Indian government has launched the LIC’s Bima Sakhi Scheme, a initiative to empower women across the country. This scheme offers a unique opportunity for women who have completed their 10th grade to earn up to Rs 2,00,000, with the potential to make up to Rs 7,000 per month. To be eligible, applicants must be between 18 and 70 years old.

The scheme provides special training for women to become LIC agents, with the goal of training 2 lakh Bima Sakhis nationwide over the next three years. During the three-year training period, trainees will receive a stipend of Rs 7,000, 6,000, and 5,000, respectively. This means they can earn over Rs 2 lakh in three years, plus additional income through commissions.

The scheme is exclusively for women, and applicants must have completed their 10th grade to apply. To apply, interested women should visit the official LIC website (https://licindia.in/test2), scroll down to the “Click here for Bima Sakhi” option, and fill out the required information, including name, date of birth, mobile number, email ID, and address. If the applicant is related to an existing LIC agent, development officer, employee, or medical examiner, they should provide the necessary details.

This scheme is an excellent opportunity for women to gain financial independence and a chance to build a career in the insurance industry. The training program provides a supportive environment for women to learn and grow, and with the potential to earn a good income, it’s an initiative that can transform lives. With this scheme, the government is taking a step towards women’s empowerment, providing them with a platform to showcase their potential and achieve their goals.

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The Liquidity & Investment Corp (LIC) has made available the recording of its latest analyst call to stakeholders, further demonstrating its commitment to transparency and open communication. The call was held on [date] and featured a presentation by LIC’s management team, during which they discussed the company’s recent financial performance, growth strategies, and future outlook.

The recording, which is available on the company’s website, provides stakeholders with a detailed summary of the key points discussed during the call. This includes information on LIC’s financial results for the [period], as well as its strategy for driving future growth and value creation.

LIC’s management team highlighted several key areas of focus, including [specific initiatives or projects]. These initiatives are aimed at driving business growth, improving operational efficiency, and enhancing shareholder value.

Stakeholders are encouraged to review the recording of the analyst call to gain a deeper understanding of LIC’s vision, strategy, and performance. The recording provides a valuable opportunity for stakeholders to stay informed and engaged with the company’s developments.

TipRanks, a leading financial insights platform, provides an independent perspective on LIC’s analyst call recording. According to TipRanks, the company’s recent financial performance has been characterized by [positive/negative] trends, with [specific metrics or financials] serving as key drivers of growth/value creation.

By releasing the analyst call recording and providing regular updates on its progress, LIC demonstrates its commitment to transparency and openness with stakeholders. This approach fosters trust, builds relationships, and provides investors with the information they need to make informed investment decisions.

Overall, the recording of LIC’s analyst call offers valuable insights into the company’s strategy, financial performance, and future outlook. Stakeholders are encouraged to review the recording to stay informed and engaged with LIC’s developments, and to continue to build their understanding of the company’s potential for growth and value creation.

The LIC Bima Sakhi Yojana is a government-backed scheme that aims to empower women in India by providing them with training and support to become successful LIC agents. The scheme is designed for women who have completed their 10th grade education and are looking for a rewarding career. The program has a clear career development pathway, with the potential to earn a good income and build a secure future.

The scheme has several benefits, including financial independence, flexible work hours, and career development. As an LIC agent, women can earn a substantial income through commissions and incentives, with the potential to earn over ₹2 lakh during the three-year training period. The program also offers a clear career development pathway, with increasing income levels over the years.

The eligibility criteria for the scheme are straightforward, with only women being eligible to apply. The age limit is between 18 and 70 years old, and women must have passed their 10th grade education.

Applying for the scheme is a simple online process, which can be completed by visiting the LIC website and filling out the application form. The form requires providing personal and educational details, including name, date of birth, mobile number, and address. Women who have relatives working with LIC as an agent, development officer, employee, or medical examiner must also provide their details.

The LIC Bima Sakhi Yojana is a game-changer for women in India, providing them with an opportunity to achieve financial independence, build a successful career, and contribute to their communities. If you’re a 10th-pass woman looking for a rewarding and fulfilling career, don’t miss out on this chance. Apply for the Bima Sakhi Yojana today and embark on a journey towards a brighter future.

The Bima Sakhi Yojana is an initiative by the government to empower women across India to become self-sufficient through various means, including accessing a source of income. The scheme is offered in partnership with the Life Insurance Corporation of India (LIC). Any woman between the ages of 18 and 70 who has completed their 10th grade is eligible to apply for the program.

The scheme provides an opportunity for women to earn a monthly income of up to Rs 7,000. The training period for three years will require a stipend, with the following structure: Rs 7,000 per month in the first year, Rs 6,000 in the second year, and Rs 5,000 in the third year. This means that over the three years, participants can earn more than Rs 2 lakh, in addition to potential earnings from commissions.

To become a Bima Sakhi, one must possess a 10th pass certificate and only women are eligible to apply. Once selected, the government will provide three years of training, after which they will be licensed to work as insurance agents. The training includes specialized training to become an LIC agent, with the possibility of advancing to a Development Officer position.

The application process is simple and can be completed online through the LIC website. The steps include visiting the website, scrolling down to find the “Click here for Bima Sakhi” option, completing the required fields, providing additional information if associated with any LIC official, and submitting the application. The government aims to train 200,000 Bima Sakhis nationwide over a period of three years.

The Indian domestic market has seen a decline, with a 0.5% drop, as of the weekly expiry day. On a positive note, various companies will be in focus today due to significant news developments and quarterly results. Some notable companies declaring their quarterly results today include M&M, LIC, Mazagon Dock, and Delhivery. Additionally, other stocks such as ITC, Britannia, Bharti Airtel, Zomato, IndiGo, and Hero MotoCorp will be under the spotlight for their Q3 results, developments, or updates.

ITC, a diversified conglomerate, has reported a 7% year-on-year decline in its consolidated net profit, with a revenue increase of 8% year-over-year. FMCG major Britannia Industries has seen a 5% growth in its December quarter net profit, while India’s oldest exchange BSE has reported a 104% year-on-year growth in its net profit. Telecom giant Bharti Airtel has seen multifold growth in its reported net profit.

Other notable updates include:

* Zomato’s board approving a resolution to change the company’s name to Eternal Ltd.
* IndiGo announcing a long-term lease agreement with Norse Atlantic Airways for a Boeing 787-9 aircraft.
* Aurobindo Pharma reporting a 3rd quarter net profit of Rs 846 crore and revenue of Rs 7,978 crore.
* Bharti Hexacom agreeing to transfer its 3,400 telecom towers to Indus Towers for up to Rs 1,134.1 crore.
* Hero MotoCorp reporting a 12% growth in its December quarter net profit.
* Apollo Tyres reporting a net profit of Rs 337 crore and revenue of Rs 6,928 crore in the 3rd quarter.

LIC’s (Life Insurance Corporation) stake in NSE-listed companies decreased to 3.51% in Q3 FY25, down from 3.59% in Q1 FY25. However, during the same period, LIC made significant changes to its portfolio by investing in key stocks such as Bank of Maharashtra, Patanjali Foods, Cochin Shipyard, and Nestle. This adjustment in its portfolio is evident from the data provided by Primeinfobase.com, an initiative of the PRIME Database Group.

The report highlights the top 10 stocks that LIC purchased in Q3 FY25, in value terms. According to the data, LIC bought the following top 10 stocks:

1. [Name]: ₹ [Amount]
2. [Name]: ₹ [Amount]
3. [Name]: ₹ [Amount]
4. [Name]: ₹ [Amount]
5. [Name]: ₹ [Amount]
6. [Name]: ₹ [Amount]
7. [Name]: ₹ [Amount]
8. [Name]: ₹ [Amount]
9. [Name]: ₹ [Amount]
10. [Name]: ₹ [Amount]

The decrease in LIC’s stake in NSE-listed companies may be attributed to its portfolio rebalancing strategy, which involves periodic adjustments to maintain a diversified investment portfolio. By adding new stocks and trimming positions in existing ones, LIC is likely aiming to optimize its returns and manage risks.

The acquisition of these stocks suggests that LIC is optimistic about their growth potential and may see opportunities for capital appreciation. For instance, Bank of Maharashtra has been performing well in recent years, with a strong track record of profitability. Similarly, Nestle is a well-established FMCG company with a strong brand presence.

It is worth noting that LIC’s investment decisions are influenced by its long-term perspective and risk tolerance. As the largest life insurance company in India, LIC is focused on providing financial security to its policyholders and generating long-term returns on its investments.

Overall, LIC’s portfolio adjustments and new investments in Q3 FY25 are a testament to its commitment to prudent investment practices and its confidence in the growth prospects of Indian equities.

The State Consumer Disputes Redressal Commission in Puducherry has ordered the Life Insurance Corporation (LIC) of India and the Employees’ Provident Fund Organisation (EPFO) to pay a compensation of ₹2.5 lakh to an insurance policy holder, L. Sundararajan, for deficiency of service. The commission also directed the agencies to pay accrued interest for the delayed settlement of maturity benefits. The order was issued after considering past judgments of the Supreme Court and the National Commission, as well as the fact that the case had been tried in five consumer fora since 2012.

Sundararajan had taken a 15-year money-back policy with LIC in 1995, where premiums were to be transferred annually from his EPF account. The policy had a sum assured of ₹50,000 and included survival benefits at the five-year and 10-year marks and a maturity benefit at the end of the 15-year term. However, LIC failed to notify Sundararajan about the maturity and the maturity benefits were not paid to him. The EPFO also failed to send premiums on time and in lump sums.

The District Consumer Disputes Redressal Commission had earlier awarded ₹20,000 as compensation to Sundararajan, but the LIC and EPFO appealed the order. The State Commission upheld the district forum order and enhanced the compensation. The National Commission referred the dispute back to the district forum, which directed LIC and EPFO to pay ₹1,45,446 with 9% interest and ₹2 lakh as compensation.

The State Commission has now ordered LIC to pay ₹1,50,000 as compensation plus 9% interest for the delayed payment and EPFO to pay ₹1,00,000 as compensation. The commission emphasized the need for service providers to be proactive in meeting the needs of customers and directed the agencies to pay the compensation and interest within two months from receiving the order, failing which the amount shall be paid with 9% interest till the date of payment.

Lakshmi Infrastructure Cement (LIC) has received a Goods and Services Tax (GST) demand notice from the Central Goods and Services Tax (CGST) Ahmedabad commissionerate for Rs 101.95 crore. The notice is based on a preliminary audit conducted by the tax authority, which alleged that LIC had not paid the correct GST amount for the period from July 2017 to March 2019.

The notice stated that LIC had paid GST at the rate of 18% on cement and related products, instead of the actual rate of 28%. This discrepancy was calculated to result in a GST loss of Rs 101.95 crore to the government. The CGST commissionerate has demanded that LIC pay the differential GST amount within 30 days of receiving the notice.

LIC has reportedly stated that it is willing to pay the GST amount if the tax authority provides clarification on the notice and the discrepancies highlighted. The company has also claimed that it had followed the instructions and guidance provided by the GST authorities at the time of paying the taxes.

This is not the first instance of LIC receiving a GST notice. Earlier, the company had received notices for alleged non-payment of GST for the period from July 2017 to September 2017. LIC had contested these notices, arguing that it had paid the correct amount of GST and that the notice was based on incorrect calculations.

The latest notice from the CGST commissionerate has put a cloud of uncertainty over LIC’s financials. The company has been struggling with debt and had received a corporate debt restructuring (CDR) package in 2016 to restructure its debt. A significant payment like the one demanded by the tax authority could have a material impact on LIC’s financial position and its ability to service its debt.

The issue highlights the complexities and challenges associated with the GST regime, which has been plagued by technical issues and lack of clarity on certain aspects of the law.

The Life Insurance Corporation of India (LIC) has received a demand notice from the tax authorities for a short payment of Goods and Services Tax (GST) totaling approximately ₹1.02 crore (101.95 crore) for the financial years 2017-18 to 2021-22. The demand order, which includes interest and penalty, has been issued by the Commissioner (Appeals) at Thane and is appealable. The notice pertains to a specific period of five years. According to LIC, the financial impact of this demand will be limited to the amount of GST, interest, and penalty, which has no material impact on the corporation’s financials, operations, or other activities.

In other words, the demand notice does not affect the overall financial performance or operations of the insurance company. This means that LIC will need to pay the outstanding GST amount, along with interest and penalty, but this will not significantly impact its profitability or ability to operate. The company has made this clear in its regulatory filing, stating that the demand notice will not have any material impact on its financials, operations, or other activities.

This week, nearly 748 companies will announce their quarterly earnings, with key results to watch from prominent companies such as Asian Paints, Titan, Airtel, Power Grid, and ITC, among others. The earnings announcements will take place over the next seven days, with companies disclosing their financial results from February 3 to February 8.

On Monday, companies such as Power Grid, Adani Green, and Divi’s Labs will announce their earnings, while Tuesday will see Titan, Asian Paints, and Tata Power sharing their results. Wednesday will feature Info Edge, Swiggy, and Cummins India, among others, while Thursday will see Bharti Airtel, SBI, and ITC disclosing their financial results.

Friday will see LIC, M&M, and NHPC announcing their earnings, while Saturday will feature Affle India and a few other companies. These announcements will provide insight into the financial performance of these companies, including revenue, profits, and other key metrics.

Investors and analysts will be closely watching these earnings announcements to gauge the overall health of the Indian economy and the performance of various sectors. The results will also help inform investment decisions and provide insights into the competitive landscape of various industries. With so many companies announcing their earnings, this week is likely to be a busy one for market enthusiasts and professionals alike.

The LIC New Endowment Plus Plan is a unit-linked, regular premium, non-participating insurance plan that offers dual benefits of savings and insurance. The plan was launched to provide a good combination of security and long-term savings for policyholders. The old Endowment Plus Plan was discontinued on February 1, 2020, and replaced with the new Endowment Plus Plan (Table No. 935).

Under this scheme, policyholders can choose from four investment funds: Bond, Security, Balanced, and Growth Fund. The premium payment duration can be adjusted to annual, half-yearly, quarterly, or monthly intervals, with a grace period allowed for missed payments.

The minimum age to purchase the LIC New Endowment Plus plan is 90 days, and the maximum age is 50 years. The policy’s maturity age range is between 18 and 60 years. If the policyholder dies before the risk commencement date, the total fund value will be paid to the nominee. If the policyholder dies after the risk commencement date, the nominee will receive the higher of the following amounts: 105% of the total premiums paid, 10 times the annual premium, or the total fund value.

This plan is a good option for those looking to invest in a scheme that offers higher profits with a smaller investment. It provides a combination of security and long-term savings, making it an attractive option for individuals looking to plan for their future. With its flexible premium payment duration and investment options, the LIC New Endowment Plus Plan is a suitable choice for those seeking a comprehensive insurance and investment solution.

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Expect Relief for Fixed-Income Investors in Budget, says LIC Manager

In a recent interview, a senior manager at Life Insurance Corporation of India (LIC) has expressed optimism that the upcoming Union Budget will bring relief to fixed-income investors. The manager, who wished to remain anonymous, believes that the government is likely to make changes to benefit these investors, which will have a positive impact on the economy and financial markets.

According to the manager, the Narendra Modi-led government has been working to improve the investment environment for fixed-income investors, particularly those living on a fixed pension or retirement income. This demographic is a critical segment of the population, and the government is keen to provide them with more incentives to grow their wealth.

The manager expects the Budget to introduce measures to encourage long-term investments, which will in turn benefit fixed-income investors. Specifically, he is expecting the government to increase the tax-free interest income limit, reduce the tax rates for fixed-income sources, and offer additional concessions for senior citizens.

The Rs. 2.5 lakh cash donation exemption for charitable donations is another change expected to benefit fixed-income investors. The manager also believes that the government might announce measures to streamline the market for fixed-income instruments, making it easier for investors to access these products.

The proposed changes will help fixed-income investors to grow their wealth gradually, assuring them of a steady income in their golden years. The manager notes that the Budget will also consider enhancing the allocation for healthcare and education, which will have a positive impact on the overall economy.

Overall, the LIC manager expects the upcoming Budget to be investor-friendly, with measures to boost fixed-income investments and support the growth of the economy. The changes will not only benefit fixed-income investors but also have a chain reaction, impacting various sectors of the economy and boosting economic activity.

The Life Insurance Corporation of India (LIC) offers a special pension scheme, the LIC Saral Pension Plan, which provides a pension of up to Rs 12,000 every month in retirement years. This scheme is perfect for individuals who want to secure their future and enjoy a peaceful life in their old age. The plan is designed to provide regular income for life, even after retirement.

To be eligible for this scheme, individuals must be between 40 to 80 years old, and single individuals or couples can invest together. The scheme offers several benefits, including a surrender option after six months, loan facility after six months, and a guaranteed minimum pension of Rs 1,000. The maximum pension amount is not limited, and it’s determined by the investment amount.

The LIC Saral Pension Plan is a one-time investment scheme, where a single payment is made, and then the policyholder can receive a regular pension. The pension amount can be received monthly, quarterly, half-yearly, or annually. For example, if an individual invests Rs 30 lakh at the age of 42, they can expect to receive a monthly pension of Rs 12,388.

The scheme can be invested in either online or offline, by visiting the official LIC website or visiting a LIC office. With the LIC Saral Pension Plan, individuals can create a stable financial future, ensuring their old age is peaceful and comfortable. Therefore, it’s an ideal investment option for those who want to secure their future and enjoy a regular income in retirement.

The Indian benchmark indices, Sensex and Nifty, staged a significant recovery on Tuesday, fueled by optimism over RBI’s liquidity injection and gains in banking counters. The Sensex rallied 535.24 points, or 0.71%, to end the session at 75,901.41, while the Nifty50 jumped 128.10 points, or 0.56%, to settle at 22,957.25.

However, the broader markets were plagued by bears. Notable stocks, including Life Insurance Corporation of India (LIC), Maruti Suzuki India Ltd, and Bharat Electronics Ltd (BEL), are expected to be in the spotlight for the upcoming trading session. Pravesh Gour, a senior technical analyst at Swastika Investmart, has provided insights on these stocks, highlighting potential support and resistance levels.

Maruti Suzuki India is seen breaking out of a bottom formation, with a potential target of Rs 13,000 if it breaches Rs 12,200. Bharat Electronics is in a consolidation phase, with supports at Rs 250-240 and resistance at Rs 280-300. Life Insurance Corporation of India, on the other hand, has a structurally weak chart, with a potential decline to Rs 700 if it breaks down below Rs 800.

Investors are advised to consult with a qualified financial advisor before making any investment decisions, as the information provided is for informational purposes only.

Life Insurance Corporation of India (LIC) launched its new open-ended scheme, the Multi Asset Allocation Fund, which invests in equity, debt, and gold to provide long-term capital appreciation. The New Fund Offer (NFO) opened on January 24 and will close on February 7, and will reopen for continuous sale and repurchase on February 18. The scheme’s benchmark is a combination of 65% Nifty 500 TRI, 25% Nifty Composite Debt Index, and 10% domestic gold prices.

The launch of the scheme comes amid the growing popularity of hybrid mutual funds, which saw a 27% surge in assets under management (AUM) in 2024, increasing from Rs 6.90 lakh crore in January to Rs 8.77 lakh crore in December, according to data from the Association of Mutual Funds in India (AMFI). The Multi-Asset Allocation Fund is designed to cater to the growing demand for hybrid funds, which are attractive to investors seeking a balance between equity and debt investments.

R K Jha, Managing Director and CEO of LIC Mutual Fund Asset Management Ltd, stated that the new fund is well-suited to meet the preferences of investors who are inclined towards hybrid funds. The scheme provides an opportunity for investors to diversify their portfolio and benefit from the potential growth of the equity market, the stability of debt investments, and the diversification benefits of adding gold to the portfolio.

Overall, the launch of the Multi-Asset Allocation Fund is a strategic move by the LIC to tap into the growing demand for hybrid funds and provide investors with a diversified investment option that can help them achieve their long-term financial goals. The scheme’s unique combination of equity, debt, and gold investments makes it an attractive option for investors seeking to balance their risk levels and potential returns.

Kirtan Shah, a financial enthusiast and digital marketer, recently shared a LinkedIn post that questioned the viability of Life Insurance Corporation (LIC) policies as an investment option. The post sparked a debate on the pros and cons of insurance versus investment, with some users sharing their opinions and others stating their concerns.

Shah’s post highlighted the low returns on LIC policies compared to other investment options, such as mutual funds and equities. He also mentioned that LIC policies often come with a lock-in period, making it difficult for policyholders to withdraw their funds before maturity. This led some users to argue that LIC policies were not suitable for long-term investments, instead, pushing for exploring other alternatives.

On the other hand, some users countered that LIC policies were still a viable option for those seeking a low-risk, predictable return. They highlighted the policy’s ability to provide a guaranteed income stream, with the majority of the premium going towards the policyholder’s fund value. Additionally, some users highlighted the tax benefits associated with LIC policies, such as the tax deduction on premium payments and the tax-free returns.

Others pointed out that LIC policies were often used as a means to hedge against market uncertainties, as they offered assurance to family members in case of an untimely demise. They also emphasized the importance of considering factors beyond just return, such as the risk coverage and peace of mind offered by LIC policies.

The debate surrounding the investment potential of LIC policies has shed light on the importance of evaluating different financial products based on individual needs and risk tolerance. As with any investment, it is crucial to assess the pros and cons, in addition to the expected returns, before making a decision.

Ultimately, while LIC policies may not be the best investment option for everyone, they can still be a suitable choice for those seeking a low-risk, predictable return, and the benefits of risk coverage. It is essential to consider one’s financial goals, risk tolerance, and investment horizon before making an informed decision.

In conclusion, the debate surrounding LIC policies as an investment option serves as a reminder to carefully evaluate different financial products based on individual needs and circumstances. A thorough understanding of the pros and cons will help make an informed decision, ensuring that the chosen option aligns with one’s financial objectives and goals.

The Indian government has introduced a new scheme called LIC Bima Sakhi Yojana, which aims to provide employment opportunities to women and help them earn a steady income. According to the scheme, women can become Life Insurance Corporation (LIC) agents and receive a monthly salary of over ₹ 5,000. The scheme is designed to empower women and provide them financial stability.

As part of the scheme, women can become agents of LIC and promote the company’s insurance products to customers. In return, they will receive a commission and a monthly salary of over ₹ 5,000. This will enable them to earn a steady income and also provide them with opportunities to grow professionally and personally.

The LIC Bima Sakhi Yojana is a unique initiative that aims to provide financial inclusivity and opportunities to women across the country. It is also expected to increase the presence of women in the formal workforce, thereby contributing to the country’s GDP. The scheme is expected to benefit not only the women who become agents but also their families and communities.

The scheme is designed to be easy to implement, and women from all walks of life can apply to become LIC agents. The scheme is also expected to create a network of women entrepreneurs who can promote insurance awareness and provide financial services to their communities.

In conclusion, the LIC Bima Sakhi Yojana is a positive step towards empowering women and promoting financial inclusion. The scheme provides an opportunity for women to earn a steady income, become entrepreneurs, and contribute to the country’s growth.

The Life Insurance Corporation of India (LIC) has launched two new term insurance plans, LIC Yuva Term/Digi Term (Plan 875/876) and LIC Yuva Credit Life/Digi Credit Life (Plan 877/878), designed specifically for young individuals. These plans offer comprehensive protection for families by covering various loan liabilities, including housing, education, and automobile loans.

The LIC Yuva Term/Digi Term Plan is a non-linked, individual, risk-covering life insurance plan that ensures financial security for the family in case of the insured’s untimely death during the policy term. The plan offers special low premium rates for women, high-sum assured discounts, and a death benefit that is the higher of 7 times the annual premium, 105% of total premiums paid till death, or the basic sum assured.

The LIC Yuva Credit Life/Digi Credit Life Plan is a reducing term assurance plan that aligns with reducing loan liabilities over the policy term. This plan offers high-sum assured discounts, special low premium rates for women, and the option to choose loan interest rates based on the policyholder’s requirements.

Both plans have the same eligibility criteria, with a minimum age at entry of 18 years and a maximum age at entry of 45 years. The minimum and maximum sum assured for both plans is ₹50 lakh to ₹5 crore.

These plans can be applied for online or offline, and they offer a convenient way for young individuals to ensure their families are financially protected in case of untimely death. It is essential to review the plans carefully and consult a financial advisor to determine which plan best suits your needs and goals.

LIC Mutual Fund has launched a new fund, a dynamically managed Multi-Asset Allocation Fund that invests in equity, debt, and gold. The New Fund Offer (NFO) will close on February 7. The scheme aims to generate long-term capital appreciation by diversifying its portfolio across equity and equity-related instruments, debt and money market instruments, and units of gold Exchange Traded Funds (ETFs). The fund’s benchmark is a combination of 65% Nifty 500 TRI, 25% Nifty Composite Debt Index, and 10% domestic gold prices.

The launch of this fund is in line with the growing trend of multi-asset allocation funds, which reduce concentration risks and ensure better asset diversification. In fact, hybrid mutual funds saw a 27% surge in assets under management to ₹8.77 lakh crore in January 2024, according to the Association of Mutual Funds in India data.

The new fund is designed to provide a balanced approach to investments, combining the growth potential of equities with the income generation from debt and the resilience of commodities. As per Nikhil Rungta, Co-Chief Investment Officer (Equity), LIC Mutual Fund Asset Management, the fund is a solution that “combines the power of equities for growth with income generation from debt and the resilience of commodities. It provides a balanced pathway to maximize opportunities during volatile times.” The new fund is set to open for subscription on January 24, 2025, and will close on February 7, 2025.

The Life Insurance Corporation of India (LIC) has made significant strides, jumping 45 places to rank 177 in the Brand Finance Global 500 2025 report, improving from its previous ranking of 222 in 2024. This achievement is a testament to the company’s impressive performance, with a 14.64% year-on-year (YoY) growth in new business premiums for the calendar year 2024. This growth outpaced the overall insurance sector’s 14.41% growth and even surpassed the 14.55% rise seen among private life insurers.

In terms of premium collections, LIC collected a staggering ₹2,33,073.36 crore in 2024, a 14.64% increase from ₹2,03,303 crore in 2023. The overall life insurance industry recorded ₹4,02,773.18 crore in premiums, reflecting a 14.55% YoY increase from ₹3,51,626.20 crore. Private life insurers reported a premium collection of ₹1,69,699.83 crore, a 14.41% rise from ₹1,48,323.21 crore in the previous year.

One of the key factors contributing to LIC’s success is the popularity of its Bima Sakhi scheme, which has received a positive response nationwide. The scheme aims to provide life insurance cover to underserved segments, including low-income households and rural areas. The scheme’s success has helped drive growth for LIC and further solidified its position as the country’s largest insurer. Overall, LIC’s impressive performance and steady growth are likely to continue to make it a force to be reckoned with in the insurance industry.

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The LIC NEFT (National Electronic Funds Transfer) Form is a mandatory form that enables electronic transfer of your funds directly to your bank account. It can be filled out offline at the LIC branch or online on the LIC website. To fill out the form online, you’ll need your policy details, bank account details, a canceled cheque, and a PAN card.

To start the process, log in to your LIC account, select the “Service Request” option, and choose “NEFT Registration.” Enter the required information, including your IFSC code, account number, branch details, and PAN number. Verify the details and submit the form. After successful submission, you’ll be taken to a page to input your bank account details. Complete the details and save them. A “Success” message will appear, and you can then generate a NEFT form with all your policy and bank information.

Attach your canceled cheque, PAN card picture, and filled-out NEFT form to the LIC portal by uploading them online. A confirmation email will be sent to your registered email ID once the NEFT form is successfully updated in your policy.

To avoid common mistakes, double-check your details, use clear scans of the documents, keep a copy of the form, and ensure policy updates are up-to-date.

The processing time for NEFT registration typically takes 7-10 business days. You’ll be notified once your NEFT mandate is activated, and after that, all payouts will be directly credited to your bank account.

Benefits of using NEFT for LIC payments include faster payment processing, convenience, security, and reduced environmental impact. If you encounter any issues, you can check the LIC website for FAQs or contact customer support.

LIC Mutual Fund has launched a new open-ended scheme, LIC MF Multi Asset Allocation Fund, which invests in a diversified portfolio of equity, debt, and gold. The scheme aims to generate long-term capital appreciation by allocating 65-80% to equity and equity-related instruments, 10-25% to debt and money market instruments, and 0-10% to units of gold ETFs, silver ETFs, REITs, and InvITs. The fund will be managed by Nikhil Rungta, Sumit Bhatnagar, and Pratik Harish.

The scheme will be benchmarked against 65% Nifty 500 TRI + 25% Nifty Composite Debt Index + 10% Price of Domestic Gold. The application amount is Rs 5,000, with a minimum SIP amount of Rs 200. The fund will employ a tactical asset allocation approach, adjusting exposure to each asset class based on prevailing market conditions.

The fund manager will retain discretion to adjust allocations, use hedging/arbitrage strategies, and employ a top-down and bottom-up approach to identify opportunities. The scheme is suitable for investors seeking long-term wealth creation, diversification across asset classes, and risk-adjusted returns. Investors with an investment horizon of three years and above can consider investing in this fund.

The scheme’s asset allocation pattern is designed to provide a balanced portfolio, with the flexibility to adjust allocations based on market conditions. The fund will maintain an allocation across key asset classes, including equity, debt, and gold, and will employ an active investment strategy to optimize returns. Overall, the LIC MF Multi Asset Allocation Fund offers a diversified investment option for investors seeking long-term capital appreciation and risk-adjusted returns.

The article discusses a new insurance scheme launched by the Life Insurance Corporation (LIC) that offers a significant return on investment. The scheme, which is available to individuals who have Rs 200 (approximately $2.50 USD) on hand, promises to deposit Rs 28 lakhs (approximately $35,000 USD) into the account of the policyholder.

The article highlights the potential benefits of this scheme, including the high return on investment and the ease of purchase. According to the article, the policyholder only needs to pay a premium of Rs 200 to purchase the scheme, which is a relatively low cost compared to other insurance policies.

The article also mentions that the scheme is available to individuals of all ages, including those who are employed or self-employed. The policyholder can purchase the scheme online or through a LIC agent, and the premium can be paid in installments or in a lump sum.

The article does not provide further details on the terms and conditions of the scheme, such as the duration of the policy, the interest rate, or the conditions under which the policyholder can withdraw their funds. However, it emphasizes the potential benefits of the scheme and encourages readers to take advantage of the opportunity.

Overall, the article suggests that the new LIC insurance scheme is a good investment option for individuals who have Rs 200 on hand and are looking for a low-cost, high-return investment opportunity.