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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]
You agree to pay a specific premium and keep your policy in good standing while the insurer agrees to provide a death benefit payout should you pass away. Here’s who’s involved in making this ...
An intriguing aspect of life insurance, especially within whole life policies, is the concept of limited-pay life insurance. This variation allows for a more accelerated premium payment schedule ...
Canceling an ROP permanent policy: Some permanent life insurance policies offer a return of premium option. With these, you might be eligible for a partial refund of your premiums if you choose to ...
In February 2014, Canara HSBC Life Insurance [7] introduced the concept of online revival of the policy, enabling customers to reinstate a lapsed policy and allows to pay their premium online. [ 10 ] It has also partnered with 3 rural regional banks, Pragathi Gramin Bank in Karnataka and Shreyas Gramin Bank in Uttar Pradesh in 2009 and South ...
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.