OneAssure Verdict

Company Stats

About the company

Insurance Policies

KYC Documents

Claims

Renewals

Contact

Other companies

FAQs

Term insurance

Life insurance corporation of india

Life Insurance Corporation of India

OneAssure Rating

Our Verdict

Life Insurance Corporation of India (LIC) offers a variety of insurance plans, including term assurance, endowment, and whole life policies. Their New Tech Term plan provides options for level or increasing sum assured, flexible premium payment terms, and the choice to receive benefits in installments. Additionally, LIC's Jeevan Utsav plan features guaranteed annual payouts and whole life insurance with limited premium payment terms. However, LIC's term plans may be priced higher compared to other products in the market.

Pros

Diverse Plans

Offers a variety of plans for family protection, wealth creation, and retirement, catering to different customer needs.

Long-Term Security

Many plans offer long-term benefits with guaranteed payouts and additions, ensuring financial stability over time.

Pros

Cons

Limited Online Interaction

Though LIC has an online presence, certain processes may still require in-person interaction or paperwork.

Higher Premiums

Premiums for certain policies may be higher compared to newer private insurance companies, impacting affordability for some customers.

Limited Flexibility

Some plans are rigid, offering little room for modification once selected, which may not suit evolving needs.

Cons

Company Stats

Industry Avg.

14167.1

Life Insurance Corporation of India

475751.92

Premium Underwritten

Industry Avg.

1.98

Life Insurance Corporation of India

1.98

Solvency Ratio

Rating 6.6/10

Solvency2.1/4

AUM1.5/3

Growth3/3

About the Company

Life Insurance Corporation of India (LIC) is a state-owned life insurance company established in 1956. Life Insurance Corporation of India (LIC) was founded by the Government of India,through the integration of several private insurance companies.

LIC offers a wide range of insurance products, including plans for life protection, pension, and investment. LIC is recognized for its trustworthiness and strong customer base, providing financial security to millions. It plays a pivotal role in the country’s insurance sector and aims to deliver value to its customers through reliable services and customer-centric policies.

Insurance Policies

LIC India Saral Jeevan Bima

LIC Jeevan Kiran

New Jeevan Amar

KYC Documents Required

Pan Card No.

Aadhar Card

Recent Photograph

Cancelled Cheque with Name Printed

Bank Statements

Salary Slip of Latest 3 Months

Covid Vaccination

Claim Settlement

Claim Procedure

Step 1 - Contact OneAssure Promptly

Step 2 - Submit Necessary Documents

Step 3 - Verification and Assessment

Step 4 - Claim Settlement Process

Renewal

Online Renewal

Step 1 - Visit the official LIC website or the premium payment portal.

Step 2 - Log in using your credentials or register if you are a new user.

Step 3 - Navigate to the "Premium Payment" section and enter your policy number.

Step 4 - Verify your policy details and select the payment method (net banking, debit/credit card, UPI).

Step 5 - Complete the payment and download the receipt for your records.

Step 6 - Receive confirmation of renewal via email or SMS.

Offline Renewal

Step 1 - Visit the nearest LIC branch or authorized agent.

Step 2 - Provide your policy number and relevant details to the representative.

Step 3 - Confirm the details and choose your preferred payment method (cash, cheque, or other accepted options).

Step 4 - Make the payment and collect the receipt.

Step 5 - Your policy renewal will be processed, and you will receive confirmation.

Key points to remember during Renewals

Keep policy number and details handy.

Pay premium timely to avoid lapse.

Retain payment receipt for future reference.

Contact LIC support for renewal assistance.

Store policy documents and receipts securely.

Customer Support

Talk to an OneAssure Insurance Expert for FREE.

For Life Insurance Corporation of India customer care :
Toll Free - 22-68276827,
E-mail - customerzone_@licindia.com

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Life Insurance Corporation of India

Our Verdict

Pros

Diverse Plans

Long-Term Security

Pros

Cons

Limited Online Interaction

Higher Premiums

Limited Flexibility

Cons

Company Stats

Rating 6.6/10

About the Company

Insurance Policies

LIC India Saral Jeevan Bima

LIC Jeevan Kiran

New Jeevan Amar

KYC Documents Required

Pan Card No.

Aadhar Card

Recent Photograph

Cancelled Cheque with Name Printed

Bank Statements

Salary Slip of Latest 3 Months

Covid Vaccination

Claim Settlement

Claim Procedure

Claim Procedure

Step 1 - Contact OneAssure Promptly

Step 2 - Submit Necessary Documents

Step 3 - Verification and Assessment

Step 4 - Claim Settlement Process

Renewal

Online Renewal

Online Renewal

Step 1 - Visit the official LIC website or the premium payment portal.

Step 2 - Log in using your credentials or register if you are a new user.

Step 3 - Navigate to the "Premium Payment" section and enter your policy number.

Step 4 - Verify your policy details and select the payment method (net banking, debit/credit card, UPI).

Step 5 - Complete the payment and download the receipt for your records.

Step 6 - Receive confirmation of renewal via email or SMS.

Offline Renewal

Offline Renewal

Step 1 - Visit the nearest LIC branch or authorized agent.

Step 2 - Provide your policy number and relevant details to the representative.

Step 3 - Confirm the details and choose your preferred payment method (cash, cheque, or other accepted options).

Step 4 - Make the payment and collect the receipt.

Step 5 - Your policy renewal will be processed, and you will receive confirmation.

Key points to remember during Renewals

Customer Support

Talk to an OneAssure Insurance Expert for FREE.

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Frequently Asked Questions

1. HOW TO BUY FROM ONEASSURE?

2. TAX BENEFITS

3. HOW TO RENEW PLANS?

Frequently Asked Questions