The Life Insurance Corporation of India has been a country home builder since its development n 1956. True to the objective of nationalization, the LIC has actually activated the funds invested by the people in the life insurance policy for the benefit of the community at big. LIC has actually released the funds to the best benefit of the plan owners and the neighborhood as the whole, real to the spirit of nationalization. National top priorities and also responsibility of affordable returns to the policyholders are the main criteria of their financial investments.
The total funds, so invested for the advantage of the neighborhood at huge accumulated to Rs. 815484 crore as on 31st March 2009. The Investment of the lic policy status funds is regulated by Section 27A of the Insurance Act, 1938 subsequent guidelines/instructions released there under by the Government of India once in a while and the IRDA by way of guidelines. As per the recommended investment pattern accepted by IRDA, the controlled funds are spent as complies with: Not less than 50% is purchased Government safety and securities or other accepted investments.
LIC Other Plans:
- Money Back Plans Table Nos. 75 and 93: Besides offering life cover throughout the term 20 and 25 years of the policy, survival benefits connected to the amount guaranteed during the regard to the policy will be offered.
- Jeevan MITRE Table Nos. 88 and 133: An Endowment Assurance Plan offering two times or thrice the amount assured payable on fatality of the life guaranteed throughout the policy term.
- Jeevan Saatchi Table No. 89: A With-Profits Joint Life Endowment Assurance plan for both husband and wife.
- Fixed Term Marriage Endowment/Educational Annuity Table No. 90: A suitable prepare for making arrangement for education/star-in-life or marriage of children. Claim/Annuity is payable after expiration of plan term.
The essential facet you need to look at is servicing your customers. Close follow-up with your customers is called for to remind those concerning costs due, expired plans and various other points. Do not assume your clients will certainly always do the due diligence without your follow-up. The fastest and dependable means of doing this is SMS and also email suggestions. Automated SMS and emails can additionally aid in consumer relationship structure with birthday, anniversary and various other special celebration greetings.