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The Life Insurance Corporation of India (LIC) is an Indian multinational public sector life insurance company headquartered in Mumbai. It is India's largest insurance company as well as the largest institutional investor with total assets under management worth ₹ 52.52 trillion (US$610 billion) as of March 2024. [ 4 ]
Life Insurance in India was nationalised by incorporating Life Insurance Corporation (LIC) in 1956. All private life insurance companies at that time were taken over by LIC. In 1993, the Government of India appointed RN Malhotra Committee to lay down a road map for privatisation of the life insurance sector.
In flexible-premium policies, large deposits of premiums could cause the contract to be considered a modified endowment contract by the Internal Revenue Service (IRS), which negates many of the tax advantages associated with life insurance. The insurance company, in most cases, will inform the policy owner of this danger before deciding their ...
By 2017, it was the country's third-largest private sector life insurance company [6] with a 16.5 percent share of total private-sector premiums for the Financial Year 2017 and fourth largest in the life insurance industry based on premium earned and had 66,372 individual agents across India, comprising 6.8 percent of total private agents in ...
You can view your AOL billing statement on a computer by following the steps below. 1. Go to MyAccount and sign in. 2. In the left navigation menu, click My Wallet | select View My Bill.
Activate or download premium subscriptions Once you enroll in an AOL premium subscription product or service, you can start the activation process by clicking on one of the following options in your order confirmation email: "Login with AOL," "download now," or "get started now."
In February 2021, the company registered a profit of ₹186.99 crore (US$23 million) in the new business premium with 56% more as compared to the last year in February 2020. [ 24 ] The company's Indian Embedded Value rose to ₹3,828 crore (US$479 million), and the solvency margin stood at 282% as of 31 March 2022. [ 25 ]
The Company recorded a gross direct premium income of ₹17,644 in the financial year 2022-23, registering a growth of 12.23% over the previous year. [ 6 ] It has a network of 6 Large Corporate Business Cells (LCBs), 366 Divisional Offices, 558 Branch Offices and 511 Micro Offices, besides its Head Office in Chennai and 30 Regional Offices in ...