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    LIC

    Uploaded by

    Charmi Joshi
    The document provides an introduction to life insurance products offered by LIC in India. It defines life insurance and compares it to other savings products. It outlines the main types of life insurance policies including term assurance, whole life, endowment, money back, and ULIP policies. Specific LIC plans are detailed for each product type, including features like sum assured, premiums, death benefits, and maturity benefits. Finally, it discusses why LIC is a trusted choice, noting it is government owned, the market leader in India with the highest claims ratio, and has over 100 million customers.

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    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd

    LIC

    Uploaded by

    Charmi Joshi
    719 views8 pages
    The document provides an introduction to life insurance products offered by LIC in India. It defines life insurance and compares it to other savings products. It outlines the main types of life insurance policies including term assurance, whole life, endowment, money back, and ULIP policies. Specific LIC plans are detailed for each product type, including features like sum assured, premiums, death benefits, and maturity benefits. Finally, it discusses why LIC is a trusted choice, noting it is government owned, the market leader in India with the highest claims ratio, and has over 100 million customers.

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    LIC-PPT

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    The document provides an introduction to life insurance products offered by LIC in India. It defines life insurance and compares it to other savings products. It outlines the main types of life insurance policies including term assurance, whole life, endowment, money back, and ULIP policies. Specific LIC plans are detailed for each product type, including features like sum assured, premiums, death benefits, and maturity benefits. Finally, it discusses why LIC is a trusted choice, noting it is government owned, the market leader in India with the highest claims ratio, and has over 100 million customers.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    719 views8 pages

    LIC

    Uploaded by

    Charmi Joshi
    The document provides an introduction to life insurance products offered by LIC in India. It defines life insurance and compares it to other savings products. It outlines the main types of life insurance policies including term assurance, whole life, endowment, money back, and ULIP policies. Specific LIC plans are detailed for each product type, including features like sum assured, premiums, death benefits, and maturity benefits. Finally, it discusses why LIC is a trusted choice, noting it is government owned, the market leader in India with the highest claims ratio, and has over 100 million customers.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 8

    Life Insurance : Introduction with focus on LIC Plans & Products

    By Charmi Joshi

    Presentation Flow
    What is Life Insurance? Life Insurance Vs Other Savings Product Types of Life Insurance Products LIC Plans Product wise Why only LIC?

    Zindagi Ke Saath Bhi, Zindagi ke Baad Bhi

    Introduction to LIC
    What is Life Insurance?
    Life Insurance is a contract between insured and the insurer (insurance company) which provides that insurer is bound to pay a fixed amount to the insured in case of accident or any unfortunate event.

    Zindagi Ke Saath Bhi, Zindagi ke Baad Bhi

    Life Insurance Vs. Other Saving


    Security Tool Risk Cover Sum Assured Concept Mortgaged & Transferred Loan against policy Tax Saving Instrument Financial Planning Money when you need Creditors cannot claim Life Insurance money

    Zindagi Ke Saath Bhi, Zindagi ke Baad Bhi

    Types of Insurance Products


    Term Assurance Whole Life Policy Endowment Policy Money Back Policy ULIP Unit Linked Insurance Plan

    Zindagi Ke Saath Bhi, Zindagi ke Baad Bhi

    LIC Plans Product wise


    Product Type Term Assurance Anmol Jeevan Rs. 5 Lacs 20 years Rs.1300 Rs. 5 Lacs Whole Life Plan Whole Life with Profits Rs. 5 Lacs Not App. Rs.11000 Rs. 5 Lac + Bonus Not App. Endowment Plan Endownment Plan Rs. 5 Lacs 20 years Rs.25000 Rs.5 Lacs + Bonus Rs.5 Lacs + Bonus Money Back Plan Money Back with Profit Rs. 5 Lacs 20 years Rs.32000 Rs. 5 Lacs + Bonus Rs. 9 Lacs ULIP

    LIC Plan Sum Assured Term Premium* (p. a) Death Benefit

    Money Plus Plan - I Rs. 5 Lacs 20 years Rs.100000 Higher of Rs. 5 Lac or FV Fund Value (FV)

    Maturity Benefit

    Nil

    (All plans for individual of Age 25 years)


    Zindagi Ke Saath Bhi, Zindagi ke Baad Bhi

    *Premium Appx. Amt

    Why only LIC?


    The Name Inspires Trust Awarded as the Most Trusted Brand in India Top in Insurance Category by Brand Equity 2009, Economic Times Award Government Of India Ownership Sovereign Risk Market Leader Profit Making Insurance Company Best Claims Ratio
    Total New Premium & New Policy Share (2008-09)*
    120 96.71% 78.93% 80

    Claims Paid (2008-09)*

    100

    29%

    60

    71%

    40

    20

    LIC

    Pvt Co.

    LIC

    Pvt Co.

    Zindagi Ke Saath Bhi, Zindagi ke Baad Bhi

    *Source IRDA Annual Report

    Only 4 countries in the world have a population more than the customer base of LIC : China, America, Indonesia and of course India

    THANK YOU

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