Business Protection Plan for Partnership Firms

Unlike Ltd Companies risks associated with partnership firms are unlimited as all partners are jointly and severally liable for all acts omissions and commission. What are the Critical risks associated with partnership firms? What happens when suddenly a key partner goes out of the scene by an act of God? Following situation may arise. 1)…

LIC’s Jeevan Sugam

Bank Fixed Deposit versus Jeevan Sugam For 30 year old person for 1o year term. Bank FD Jeevan Sugam Risk Cover o 3,37,590 Interest Rate 9.00% 8.76% Effective Investment 29022 29022 Tax Saved 80CCE 8968 10432 Net Invested 20054 18590 Maturity Amount 68706 67200 Tax on Interest 12262 0 Net in Hand 56444 67200 Effective…

LIC hikes interest rates on loans and on delayed payments

Life Insurance Corporation has increased interest rates on loans against policies thereby shutting an arbitrage opportunity for policyholders. The corporation has also increased interest rates on delayed payments. Until recently the corporation charged 9% on loans against policies. This provided policyholders an opportunity to earn a spread by borrowing from LIC and parking funds in…

LIC set to revise Term cover premiums

The country’s largest insurer, Life Insurance Corporation of India, plans to reduce its term insurance rates. Term insurance policies refer to those covers where the insurance company makes a pay out only upon the death of the insured. Although LIC’s rates for term insurance are higher than that of private insurers, the corporation has a…

LIC pays dividend to government

D.K. Mehrotra, Current-in-charge Chairman of the Life Insurance Corporation (LIC) of India, handed over a cheque for  Rs 11,37,99,41,904  to Pranab Mukherjee, Union Finance Minister, in New Delhi. D.K. Mittal, Secretary, Department of Financial services and Nilesh Sathe, Zonal Manager, LIC North Zone, were also present on the occasion. The amount is the dividend paid…

LIC Jeevan Vriddhi

 Source : ET Dt. 12.03.2012 Get Jeevan Cover and Higher ‘Vriddhi’ in Maturity Gains Product Details LIC’s Jeevan Vriddhi is a single premium policy with a 10-year term that offers guaranteed returns on maturity. The guaranteed additions are determined by the age of the policyholder and the amount of single premium paid. The death benefit…

LIC is number ONE in claim settlements

Life Insurance Corporation remained well ahead of private rivals in living up to the purpose of insurance by settling 97.03% of claims in 2010-11, helping the state-run giant retain its market dominance even a decade after its monopoly ended. Settlement of claims at LIC rose from 96.54% in 2009-10, IRDA said in its annual report.…