Life Insurance From LIC Rajesh -9945689986 Bangalore

Sovereign guarantee for all policies issued by LIC will continue Jul-2011

2011-12-29T08:25:00.000-08:00

NEW DELHI: Sovereign guarantee for all policies issued by Life Insurance Corporation (LIC) will continue, a government official said, allaying fears of millions of clients of the country's largest life insurer.

The government has decided to drop a clause from the Life Insurance Corporation (Amendment) Bill 2009 that suggested limits on the sovereign guarantee available to the country's largest life insurer.

"It has been decided to continue with government guarantee to LIC," the official told ET.

The government has also decided to retain a clause that allows the insurer to regulate the terms and conditions of its agents and the recruitment procedure for employees and agents. The provision gives the insurer powers to decide on the commission benefits of over 14 lakh agents.

The finance ministry has circulated a draft cabinet note on the changes to be made to the legislation before it is taken up for approval in the monsoon session of Parliament.

LIC, which is governed by a 50-year-old Act, has government backing for all its policies. The public-sector behemoth had 65% market share in first-year premium and 70.8 % share in total policies in 2010. The insurer sold over 37 million policies in the last fiscal.

The relaxation in sovereign backing comes despite the government tightening conditions under which such guarantee can be made available.

The Standing Committee on Finance had strongly opposed the provision in the Bill that empowered the government to limit the extent of sovereign guarantee.

The amendment Bill was reintroduced by the finance minister after it lapsed following the dissolution of the previous Lok Sabha.

The dropping of the clause, seen smoothening the passage the Bill in Parliament, comes amid stiff opposition from private-sector players. State backing for LIC has also been criticised by the Insurance Regulator Development Authority for not allowing a level playing field.

In the Union Budget for 2011-12, the government disclosed for the first time the total financial guarantees given, in order to present a clearer picture of its financial position.

The clause allowing the insurer to frame rules for its agents and the method and decide on the recruitment process of staff had not found favour with the parliamentary panel and insurance agents.

However, the official said, "The corporation should have powers to decide about the welfare of its agents and employees."

A petition was filed in the Supreme Court challenging the bill but was rejected by the court.

The bill seeks to raise the capital base of the state-owned insurer to 100 crore from 5 crore, bringing it on a par with private insurers, both in life and non-life segments, which are required to have a minimum capital base of 100 crore as per IRDA norms.

The bill also seeks to allow LIC to allocate 90% or more such surplus - excess of assets over liabilities - for life insurance policy-holders and the rest to a separate account maintained by LIC.

Soruce (economictimes.indiatimes.com http://articles.economictimes.indiatimes.com/2011-07-27/news/29820591_1_par-with-private-insurers-sovereign-guarantee-policies)

LIC Health Policy

2011-10-11T22:02:00.000-07:00

LIC has launched Jeevan Arogya.
Visit www.licindia.in for more details.

It's time again to think about tax saving investments

2011-10-10T22:19:00.000-07:00

Hi,
Most of the companies have started reminging their employees for planning tax saving proof sumission.
when it comes to tax saving plans LIC is indias most popular choice as LIC is having blend of all products under section 80C and 80D tax savings.
One plan will serve as Tax saving, Investments and Insurance.
Happy Buying..

LIC Infrastructure Bonds Bangalore

2010-11-28T11:36:00.000-08:00

If you are tax payer then you can save more tax by investing in LIC Infrastructure Bond. Additional Rs.20,000 Tax Exemption under Section 80CCF.

LIC Infrastructure Bond at Glance:

Term: 10 years
Minimum lock in period: 5 years
Loan on Bond: After 5 years
Interest Rate: 7.85%-7.95% after tax.
Exit options: Buy back or through Demat account
Open for Individual or HUF.
Any individual or HUF can invest in LIC’s Infrastructure Bonds Between Rs.5000 – Rs.20,000/- This will be over the Rs.1 lakh deduction allowed under Section 80C.

tax benefit example:
If you are in highest tax payers bracket of 30% can save an additional Rs 6,000 and if you happen to fall in the lower tax bracket then you can still save Rs.2,000/- by investing in LIC infrastructure bonds this financial year.

LIC infrastructure bonds not only offers capital safety but also offers fixed returns through ECS.

Term:
The infrastructure bonds will have a maturity of 10 years and lock-in period of 5 years.

After lock in period is over, you can ask issuer (LIC) to buy back bonds Or you can trade these bonds in stock Exchange.

How to Apply for LIC India’s Infrastructure Bond?
call 9945689986 in bangalore to apply. or visit and apply online at

Private life insurers losses rise 80% in 2006-07 -LIC in profit.

2008-04-24T21:55:00.000-07:00

Source: Business line 9,April9 2008-
Losses of private sector insurance companies were up by nearly 80 per cent in 2006-07. According to figures provided by the Insurance Regulatory and Development Authority (IRDA) in its annual report, the total losses of 15 private life insurers rose to Rs 1,934 crore in 2006-07 compared with Rs 1,084 crore in the previous year.
The biggest losses were posted by ICICI Prudential at Rs 649 crore compared to Rs 188 crore earlier and Reliance Life at Rs 315 crore compared to Rs 98 crore earlier.
The public sector major Life Insurance Corporation (LIC) was comparatively in a much more comfortable situation, reporting a 22 per cent growth in profits at Rs 774 crore.
LIC proved again the Inda,s Trusted and the best Insurance, Investment Company.Be with LIC and Enjoy the Benefits.

If you are planning declaration of Tax savings for year 2007-08 ACT NOW.

2007-12-23T15:17:00.000-08:00

Every year we need to declare and provide documents proofs of Tax Savings for the financial year before March. Now it is right time to go for LIC which is Investment , Income Tax saving with Insurance.

Income- tax provisions for the Financial Year ending 31st March, 2007.Tax Slabs. You can refer table to check applicable slab to you and plan your savings accordingly.

Net income range	Income-tax rates	Sur-charge	Education Cess
Upto Rs. 1,00,000	Nil	Nil	Nil
Rs.1,00,000 to Rs.1,50,000	10% of (total income minus Rs.1,00,000)	Nil	2% of income-tax.
Rs.1,50,000 to Rs.2,50,000	Rs.5,000 + 20% of (total income minus Rs.1,50,000)	Nil	2% of income-tax.
Rs.2,50,000 to Rs.10,00,000	Rs.25,000 + 30% of (total income minus Rs.2,50,000)	Nil	2% of income-tax.
Above Rs.10,00,000	Rs.2,50,000 + 30% of (total income minus Rs.10,00,000)	10% of income-tax.	2% of income-tax and sur-charge.

Deductions from gross income on LIC premium paid.Under Sec.80C of the Income Tax Act.Premiums paid upto maximum of Rs.1,00,000 subject to maximum of 20% of Capital sum Assured under Traditional & Unit linked Plans.
Exemption of Life Insurance Proceeds. Under Sec.10(10D) of Income Tax Act.
-Maturity benefits are tax free. However in cases where premium exceeds 20% of capital sum assured within a year, benefits paid in excess of premiums paid will be taxable.
-Death benefits are tax-free.
Call me for more info and plan your Tax savings

2007-12-17T01:45:00.000-08:00

Thank you for choosing LIC of India. It indicates your concern for the security of your family. A very good decision indeed.

LIC is India' s most trusted brand ,INSURING LIVES AND ENSURING SMILES from more than 50 Years.
SUPER BRAND (2003/04) & MOST TRUSTED SERVICE BRAND OF INDIA. BEST IT USER IN INDIA (NASSCOM – 2003).
Largest Institutional Investor in India and Second largest in Asia among insurers. (Source : Asian Investor)
LIC - An Institution Builder promoting many financial and insurance institutes like NSE, NCDEX, LIC Mutual Fund, Stock Holding Corporation of India, National Insurance Academy, Insurance Institute of India etc.
LIC is the largest life insurer of India
Asset value as on 31.3.2004 : 3,673,598.4 mn (INR).
Offers over 45 plans to cover your life at various stages
Over 160 million customers and 1.1 million agents. It has underwritten more than 160 million policies.
2,048 branch offices (all computerized) of which 2019 are networked
Offers an online premium payment facility. Log onto http://www.licindia.com/ for more details.
Call 1251 for info centre / IVRS regarding details of products and services. Log onto http://www.licindia.com/ for more details
LIC settles over 34,531 claims amounting to approx. Rs.629.1 million every working day i.e. 1.48 claims per second.

From all above we can say our money is Safe and Secure with assured returns.

Unit Liked Insurance Plan and Mutual Funds

2007-12-16T22:55:00.000-08:00

Below are some of the differences which will help in taking your decision based on your own risk appetite and your long or short term goal -

1. MFs are for the short-term, ULIPs for the long run .MFs are popular short-term products. Retail investors park their money in MFs so that they can exit when they have made enough gains. But that’s not how ULIPs function. ULIPs are essentially looked upon as long-term instruments where an investor will systematically invest every year with a certain lock-in period. ULIPs are natural way of systematic investment as you pay premiums on a monthly, quarterly, bi-annual or annual basis.

2. MFs are aggressive and churn their portfolioBecause mutual funds have to deliver returns in the short-term, they tend to be more aggressive. The investment philosophy of mutual funds and life insurers differ to some extent. Typically, MFs are more aggressive players who take larger bets on hot sectors.MFs churn their portfolios considerably. Life insurance companies, on the other hand, are far more conservative and take much longer calls on the market

If you are looking long term Benefits, Ulips is best option.

LIC popular Plans

2007-12-09T16:59:00.000-08:00

Jeevan Anand-Whole Life plus Endowment
Jeevan Surabhi-Moneback Policy
Chlid Policies- Child Career,Jeevn Kishore,Komal Jeevan
Unit Linked- Profit Plus

For more information call 9945689986

Life insurance Importance

2007-12-08T09:54:00.000-08:00

Life is full of uncertainties. We all know that death is certain but the timing is uncertain. This uncertainty of time has led to the invention of insurance.
We all make efforts towards earning a living and then working hard for its betterment. Insurance is necessary to ensure that the basic necessities of life, comfort and pleasure derived by all of us from our living continues to be available for us.
Realize the need of protection for your families after your death or of a reserve for emergencies and of additional income for later years.
Now insurance has more options and become a secured investment option with guaranteed returns.Insurance is a best safer way of putting your hard erned Savings+ Investment+Tax saving on taxable income

If you are in bangalore and want to meet me contact Mob 9945689986

http://www.firstconsultant.in/