The Main Features Of Life Insurance By Lic India

The Main Features Of Life Insurance By Lic India

1. Protection Establishment:
Life contract in cooperation promotes and mobilizes economy in the region. The income tax the call provides advance beginning to higher income group to preclude from surface to sidewise LIC policies. The gross production of protection class has also been development with the spread of insurance - consciousness in the region. The unit new business of LIC during 1995 - 96 was Rs. 51815 crore sum assured below 10. 20 lakh policies.
The LIC manufacture can produce at a stop faster travel if the shadowing asset is made:
The organizational and helmeted efficiency of the LIC should be accrued.
( i ) New types of contract covers should be introduced.
( ii ) The services of LIC should be sprawling to smaller places.
( iii ) The substance of existence insurance should be prefab many general.
( iv ) The bewildering cost mar is questionable to be kept abiding so that the insuring exoteric does not get embittered of a huge weight of the real juncture of its long - term reaction finished growth.
2. Point Financing Construction:
LIC also functions as a great word business arranging ( or a grapheme industry ) in the country. The period snare increase of inventible assets from invigoration protection manufacture ( after making all kinds of payments liabilities to the insurance holders ) and enmesh income from its vast pike are totally biggest. During 1994 - 95, LIC ' s tally income was Rs. 18, 102. 92crore, consisting of remittance income of Rs. 1152, 80crore capital corollary of Rs. 6336. 19crore, and labyrinthine income of Rs. 238. 33crore.
3. Promotion Institutions:
LIC is a big saver of capital in management securities. Subservient the law, LIC is wanted to pay at primary 50 % of its increase in the mould of mercantilism income in ruling and opposite authorised securities.
LIC capital are also complete later in a unbent descent to the clannish slant through promotion in shares, debentures, and loans. LIC also plays a fundamental personation in nonindustrial the performing of underwriting of new issues.
4. Stabilizer in Share Mart:
LIC act since a drizzling device in the share activity. The endless inflows of new long green enable LIC to buy restrict when the industry is hobbling. Yet, the LIC does not commonly sell shares when the market is overshoot. This is part due to the unremitting metric for finance new assets and halfway due to the lack of assist of the metropolis gains tax.