Below, you can go through the steps to make LIC online payment via Paytm- 1. Select the insurer as LIC of India 2. Enter the policy number 3. Your policy details like policy number, name of the policy holder, premium due date, number of the installment due and premium amount will ...
Final Additional Bonus (FAB) is the second type of bonus declared by LIC. FAB is a one-time payment and paid only to those policyholders who have a policy of longer duration, and have paid premiums for the complete tenure. Policies having Guaranteed Additions are not eligible for FAB. Give...
Can avoid demand draft/pay order charges for outstation policy premiums. Can also view your premium dues and other policy details. Which policies are eligible for payment of premiums through this facility? Policies which are being serviced in networked branches, or those policies which can be acce...
Identify the type of life insurance policy that meets the following description: "A policy where the face amount of insurance increases if the investment results are favorable." 1. What are the four key factors in a firm's credit policy? ...
What this means simply is that you need to pay a lumpsum amount one-time and LIC will start paying you regular pension. Thepension payment starts immediatelyon the purchase of the policy. And the insurer willpay you this pension for life. ...
Premium: The users can pay premium through the online mode only. Premium payment options includeSingle Premium, Regular Premium, and Limited Premium. The policy has differential premium rates forsmokers and non-smokers.The premium rates are lower for non-smoking individuals. ...
Thus insurance policies have a dual objective of acting as protection against possibilities like death, injury, and the like; as also a source of indirect investment.In India LIC as the single largest life insurance company has been actively involved in providing insurance cover to its policy ...
Premium paying term: is lesser compared to the policy term Policy term: the plan has a policy term of 16/21/25 years. Tax benefits: Tax benefits are provided under section 80C and 10(10D) of the Income Tax Act, 1961. Mode of payment: Premium can be paid on a yearly, half-yearly...
To become eligible for surrendering a policy and the policy to have some surrender value, a regular premium LIC policy with term of more than 10 years should have had the premiums paid continuously for at least 3 years. If the premium payment term is less than 10 years, then the premiums...
limited payment protection-oriented plan that offers a return of 110% of the total amount of premium paid on plan maturity. This premium is payable to the insured or pays out a death benefit to the nominee of the policyholder in the case of his/her demise within the tenure of the policy...