lic plans

1. ENDOWMENTPLANOF LIC INDIA
Submitted by- Submitted to
Waquar khan Mr R.K.DIXIT

2.  I Waquar khan student of ST XAVIER’s College
Ranchi PPI 2nd sem have made a sincere effort to
complete this project.
 I would like to extend my thanks to my HOD
Proff.Gautam Rudra for the completion of this
project.
 I express my sincere gratitude to my project
guide R.K. Dixit sir and at last I would like to
thanks my friends.

3.  Founded in 1st september 1956
 Head quarter in mumbai
 LIC is an india state owned insurance group
and investement company
 It has crossed the milestone of issuing
1,01,32,955 new policies in current

4. CEO
S.K Roy
DIRECTOR
Hasmukh Adhia
DIRECTOR
Manjari Kackar
DIRECTOR
Ashwani Kumar
DIRECTOR
A.K Roy
MANAGING DIRECTOR
Usha Sangwan
MANAGING DIRECTOR
N.K Gupta

5.  Exactly opposite of term insurance plan
 Sum assured paid if insurer survive the specified
period
 Combination of term plan and pure endowment
sell them as endowment assurance plan
 A certain amount of premium get allocated
towards mortality
 Balance premium is invested to generate returns
 Returns are paid to policy holder in the form of
bonus

6.  To examine the company profile and its
establishment
 To evalute the benefit of endowment plan
 To ascertain different types of endowment
plans
 To examine the customer perception
 To access the need of endowment plan

8. • Endowment plan of lic of India
 Table 814: LIC’s new endowment plan
 Launch date: 03/01/2014
 Table 815: LIC’s new jeewan anand plan
 Launch date: 08/01/2014
 Table 817: LIC’s single premium endowment plan
 Launch date: 01/01/2012
 Table 830: LIC’s limited premium endowment plan
 Launch date: 06/01/2012

9.  Death
 In case of death during the policy term
provided all due premium have been paid.
 Maturity
 Basic sum assured along with vested
simple reversionary bonuses and final
additional bonus , if any shall be payable
in lump sum on survival to the end of the
policy term provided all over premium
have paid,

10.  In addition to the basic benefits discussed
above, an insurance company also provides
addition benefits like double endowment
and education/marriage endowment plans.
 An endowment plan allows the
policyholder to add riders for critical
illnesses, major surgical assistanc, etc.

11.  LIC has a good brand name among the customer.
 Majority of the people got like insurance plans
and product from LIC life linsurance company.
 Less number of people is aware about the life
insurance.
 Customer are not satisfied with the private
sector insurance companies.
 Some of the customer of LIC complaint that the
company do not responds to its customers.
 Some of the customers complaint that LIC is
always crowded due to which they difficulties in
there work.

12.  Best endowment plan in comparision with other
companies.
 This provides death, maturity & income tax
benefits.
 This also provide rider benefits to the insured.
 This provide greatest sum assured to the insured.