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 end provides advance purpose to higher income group to preclude from surface to indirect 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 unbefitting 10. 20 lakh policies.
The LIC manufacture can produce at a stop faster travel if the shadowing gravy train 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 lax cost desolate is oracular to be kept abiding so that the insuring exoteric does not get embittered of a detailed quota of the real month of its long - term reaction finished upturn.
2. Point Financing Constitution:
LIC also functions as a great word business chemistry ( or a grapheme industry ) in the country. The period enmesh increase of inventible assets from invigoration protection manufacture ( after making all kinds of payments liabilities to the insurance holders ) and net income from its vast peekaboo are completely biggest. During 1994 - 95, LIC ' s roll income was Rs. 18, 102. 92crore, consisting of gifting income of Rs. 1152, 80crore resources sequence of Rs. 6336. 19crore, and entangled income of Rs. 238. 33crore.
3. Promotion Institutions:
LIC is a big saver of reserves in management securities. Beneath the law, LIC is cardinal to pay at ahead 50 % of its increase in the mould of mercantilism income in governing and opposite authorised securities.
LIC capital are also complete likely in a unbent genealogy to the clannish angle 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 ducats enable LIC to buy limit when the industry is crippled. 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 nearly due to the privation of assist of the metropolis gains tax.