Life insurance companies in India reported a 13.16% year-on-year (Y-o-Y) growth in new business premium (NBP) for October 2024, collecting a total of Rs. 30,347 crore. This growth was largely…
Case Title: M Chellammal v Office of the Insurance Ombudsman Summary The Supreme Court has ruled that a proposer of a life insurance policy must disclose any pre-existing medical conditions…
Case Title: LIFE INSURANCE CORPORATION OF INDIA VERSUS THE STATE OF RAJASTHAN AND ORS., CIVIL APPEAL NO. 3391 OF 2011 Summary The Supreme Court dismissed appeals from the Life Insurance…
We have pleasure to announce that our journal 'The Insurance Times' is going to complete its 37th Year of purpose in the 37th Year of publication with the December, 2017…
Introduction: The Government of India has announced Pradhan Mantri Vaya Vandana Yojana for citizen aged 60 years and above. LIC of India has been given the sole privilege to operate…
GIC Re has proposed a dividend of Rs. 1002 crs for 2016- 17, a 17% increase off the previous year. GIC Re global premium grew 82% to 33585 crs. The…
Life Insurance Corporation of India (LIC), the country’s largest insurer, has outlined an ambitious growth strategy for the upcoming fiscal year. LIC has projected a 2%-3% increase in its value…
New Insurance Plans The Life Insurance Corporation of India (LIC) has launched new term insurance products aimed at youth: LIC’s Yuva Term/Digi Term and LIC’s Yuva Credit Life/Digi Credit Life.…
Deepak Rajmal Kothari had taken Life Insurance Corporation of India's (LIC's) Jeevan Saral Policy (with profits) from its Udhna Branch. It stipulated the maturity sum assured as Rs. 2.5 million,…
LIC’s Group Credit Life Insurance is a non–linked, non-participating single premium group term insurance plan. This plan offers an insurance cover on death of the group member during the policy…