Attention LIC policyholders! Social media platform like Twitter, Facebook, WhatsApp helps people stay connected and updated with the latest and important news feed, however, there is no shortage of fake news too. Recently, a news is doing rounds of social media platform claiming that LIC is in a weak financial position and several of its policyholders might end up losing their money. However, the national insurer Life Insurance Corporation (LIC) has confirmed the fact through a statement refuting social media claims and assured millions of its policyholders that their money is safe and secure. LIC said that its "financial health is sound". The clarification came after messages on social...
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Seattle Sounders FC’s charitable arm, RAVE Foundation, and the Seattle Storm have joined with Symetra Life Insurance Company to support and improve equitable access to physical activity for youth by renovating an under-utilized court surface at Midway Park in Des Moines into a new mini pitch and basketball court. The multi-purpose recreation space is a donation to the community from RAVE Foundation and the Storm, with generous support from Symetra Life Insurance Company. Together, the trio is collaborating to invest in this new court intended for free play, meaning that the courts are unrentable by groups or teams, ensuring they remain open at all times for the communities they serve....
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Are you LIC policyholder and have to pay additional charges during the payment of policy premium? Then from now, you don't have to pay any additional charges on LIC policy premiums. The Life Insurance Corporation or LIC has waived off the convenience fee on all payments, including payment through credit cards, to the national insurer, effective December 1, to promote transactions. LIC in its statement said that credit-card originated payments towards renewal premium, new premium, or repayment of loan and interest on loans against the policies will not attract any additional charges or convenience fee, from December 1. "This facility of free transactions using credit cards shall be...
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LIC IPO: Making a big announcement, finance minister Nirmala Sitharaman has proposed a partial listing of Life Insurance Corporation of India (LIC) through an initial public offering (IPO). Modi government has decided to disinvest a part of its stake in LIC. At present, the government owns the entire 100 per cent stake in Life Insurance Corporation of India (LIC). With a partial listing of LIC, it appears that the government is trying to boost the brand value of the insurer company. LIC is typically a big investor in share sales, including IPOs of state-run companies. LIC listing could be the country's biggest initial public offering in recent times,as the government will list Life...
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Life Insurance Corporation is the largest investor in government securities and stock markets every year. (File Photo) Finance Minister Nirmala Sitharaman has said that the government will sell a part of its holding in Life Insurance Corporation of India (LIC) through an initial public offering (IPO). The government owns 100 per cent of LIC. That LIC has been identified as a candidate for a potential public listing by the government, was reported first by The Indian Express in July 2019. The government’s move is a part of efforts to push through an aggressive disinvestment and asset monetisation programme. LIC IPO, a big-bang announcement LIC is India’s largest financial...
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What does the government’s plan to sell a part of its holding in Life Insurance Corporation entail? The story so far: In the Union Budget speech on February 1, Union Minister of Finance Nirmala Sitharaman announced that the government proposed to sell a part of its holding in Life Insurance Corporation (LIC) by way of an initial public offering (IPO). The state insurer was established in 1956 through an Act of Parliament. Governed by the Life Insurance Corporation Act, 1956, every LIC policy is guaranteed by the government. Explaining the rationale for divesting the government’s stake in LIC, Ms. Sitharaman said that listing would bring discipline while giving retail investors an...
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Of the total insurers currently in operation, eight are in the public sector and the remaining are in the private sector Life Insurance Corporation’s market share falls below 70% 1 min read . Updated: 13 Jan 2019, 05:50 PM IST PTI The market share of private insurers increased to 30.64% in 2017-18, from 28.19% in 2016-17 The market share of private insurers increased to 30.64% in 2017-18, from 28.19% in 2016-17. “On the basis of total premium income, the market shares of LIC decreased from 71.81% in 2016-17 to 69.36% in 2017-18," said the annual report of the Insurance Regulatory and Development Authority of India (Irdai). Further, the market share of private insurers in new...
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Profile of Life Insurance Corporation (LIC) of India The story of insurance is probably as old as the story of mankind. The same instinct that prompts modern businessmen today to secure themselves against loss and disaster existed in primitive men also. They too sought to avert the evil consequences of fire and flood and loss of life and were willing to make some sort of sacrifice in order to achieve security. Though the concept of insurance is largely a development of the recent past, particularly after the industrial era – past few centuries – yet its beginnings date back almost 6000 years. Life Insurance in its modern form came to India from England in the year 1818. Oriental Life...
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LIC Assistant result 2019: Life Insurance Corporation (LIC) Assistant exam Main result has been released. The LIC Assistant result is now available on the official website. The LIC Assistant result for the Main exam held on December 22 can be checked from the official website at licindia.in. The result has been released division-wise on the official portal. The results are available at the LIC career section of the official portal. LIC conducted the Prelims exam on October 30, and 31, and the results were announced in November. LIC Assistant result 2019: Direct link Check LIC Assistant Mains result from the direct link provided here: LIC Assistant result direct link (candidates may open...
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The insurer’s total assets had touched an all-time high of Rs 31 crore in FY19, an increase of 9.4 per cent. (Source: Wikimedia Commons) Life Insurance Corporation of India (LIC), the country’s largest financial institution with a corpus of over Rs 31 lakh crore, has booked a profit of over Rs 14,000 crore from the stock market during the April 1-November 15 period of the current financial year. The 30-share Sensex had gained 1,985 points, or 3.82 per cent, during the period under review, enabling the corporation to post good returns. The market value of LIC’s investment as of end-FY19 stood at around Rs 28.7 lakh crore, growing 8.6 per cent on a year-on-year basis. The insurer’s total...
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