Section 80C of the Income-tax Act, in section (3), sub-section (3A) - (3) The provisions of sub-section (2) shall apply only to so much of any premium or other payment made on an insurance policy, other than a contract for a deferred annuity,issued on or before 31st day of … [Read more...] about What is the Maximum Exemption allowable under 80C for Life Insurance Premium Paid?
Who is eligible? Only the policyholder, who is holding LIC India policy for more than three years is eligible to avail loan. How much loan could I take? LIC Loan amount varies depending on the policy amount and time period of the policy. The eligible loan amount is calculated … [Read more...] about How to Take Loan against LIC Policy?
Where a life insurance policy is maturing, the LIC India will usually sends advance intimation (two to three months in advance of the date of maturity) to the policyholder along with a blank discharge form/voucher for filling various details in it. The policyholder has to sign … [Read more...] about How to File Maturity Claim for a LIC Policy?
Step 1: Intimation of Death to LIC You could report your claim by phone, mail, fax or e-mail as soon as possible. When you call, please have the following information on hand: 1- Name of the deceased. 2- The policy number(s). 3- The date of death. 4- Your relationship with … [Read more...] about How to File Death Claim for a LIC Policy?
1- A personal accident plan "Pradhan Mantri Suraksha Bima Yojana", will be launched, which will provide an accident cover of Rs 2 lakh for an annual premium of Rs 12 or Re 1 / day. 2- A life insurance plan - "Pradhan Mantri Jeevan Jyoti Bima Yojana", will be launched for the … [Read more...] about Budget 2015 – Changes to Insurance Industry
LIC policyholders can choose any mode or frequency of payment of premiums of their choice (monthly, quarterly or yearly) at the time of commencement of their policy. Later on, if required by policyholder the mode or frequency of payment of premiums can be altered to higher or … [Read more...] about How to Change LIC Premium Payment Mode (or Frequency)?
Looking to buy online term plan, check here the different term plans based on premium. … [Read more...] about Best Online Term Insurance Plans on Premium (2014)
Government of India in the Union Budget 2014-2015, announced the revival of Varishtha Pension Bima Yojana. This Scheme is only available during the window from 15th August, 2014 to 14th August, 2015. Key Features of the VPBY Scheme 1- Available to Indian citizens aged aged 60 … [Read more...] about LIC’s Varishtha Pension Bima Yojana (VPBY) 2014 : Review
LIC India Agent's Portal is excellent way to keep track of all sold LIC policies by an LIC agent. Once registered, agent can login to LIC portal and register his customers policies and then he can also track their policy status including dues, next premium payment date, maturity … [Read more...] about How to Register for LIC India Agent’s Portal?
1- FM proposes FDI raised to 49% from 26% in insurance through FIPB route. 2- Life micro-insurance schemes for the poor, approved by IRDA, where sum assured does not exceed Rupees Fifty Thousand to be exempted from service tax. 3- From 1st October 2014, your … [Read more...] about Budget 2014 – Changes to Insurance Industry