Life Insurance Corporation of India

Life Insurance Corporation of India

Life Insurance Corporation of India (LIC) is an old life insurance company in India. It is also the insurer with the largest customer base. The company was formed on 1st September, 1956, with the objective to spread life insurance across a wider swathe of the country.

LIC started with 5 zonal offices, 33 divisional offices and 212 branch offices in 1956. Now the company has expanded to have a branch office at each district headquarters in the country. It has 2048 fully computerized branch offices, 100 divisional offices and 7 zonal offices.

Term -> The Convertible Term Assurance Policy

Eligibility Description
Minimum Sum Assured 50000
Maximum Sum Assured 10000000
Minimum Entry Age 20
Maximum Entry Age 50
Maximum Maturity Age 57
Paying Term 55 years maximum
Payment Frequency Monthly,Quarterly,Half Yearly,Yearly

Feature Description
Coverage Outstanding loans and debts are automatically paid out.
Exclusions Data Not Available
Grace Period Data Not Available
Pre Mandatory Medical Data Not Available
Cost Health Checkup Data Not Available
Number of Riders Covered Data Not Available
Riders Data Not Available
Surrender Value The policies bear no surrender value.
Revival Laps Policy Data Not Available
Cancellation Clause Data Not Available

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