Life insurance corporation of India provides wide range of life insurance products its your time to decide which one you want as we all know life is precious protect it by taking right insurance product.
Hi Friends
This is supa bouy
I am a mentor, Friend for all Management Aspirants, Any query related to anything in Management, Do write me @ supabuoy@gmail.com.
I will try to assist the best way I can.
Cheers to lyf…!!!
Supa Bouy
briefly decsription on insurance sector and customers perception towards insurance and exide life insurance in odisha...
it will help in marketing as well as finance student those who comes from BBA,MBA, and also management studies...
A Project Report on - FINANCIAL PERFORMANCE OF LIC AND PRIVATE SECTOR LIFE...Karteek Chedadeepu
FINANCIAL PERFORMANCE OF LIC AND PRIVATE SECTOR LIFE INSURANCE COMPANIES IN INDIA
- A COMPARATIVE ANALYSIS USING CARAMEL MODEL..
This is my project report. I did my project on the financial performance of private and public sector of Life insurance companies India by using CARAMEL model.
Hi Friends
This is supa bouy
I am a mentor, Friend for all Management Aspirants, Any query related to anything in Management, Do write me @ supabuoy@gmail.com.
I will try to assist the best way I can.
Cheers to lyf…!!!
Supa Bouy
briefly decsription on insurance sector and customers perception towards insurance and exide life insurance in odisha...
it will help in marketing as well as finance student those who comes from BBA,MBA, and also management studies...
A Project Report on - FINANCIAL PERFORMANCE OF LIC AND PRIVATE SECTOR LIFE...Karteek Chedadeepu
FINANCIAL PERFORMANCE OF LIC AND PRIVATE SECTOR LIFE INSURANCE COMPANIES IN INDIA
- A COMPARATIVE ANALYSIS USING CARAMEL MODEL..
This is my project report. I did my project on the financial performance of private and public sector of Life insurance companies India by using CARAMEL model.
,
career opportunity in the insurance sector
,
what is insurance
,
types of insurance
,
non-life insurance
,
life insurance
,
history of insurance in bangladesh
,
insurance - scope and opportunities
STUDY ON MODELLING OF POLICYHOLDER BEHAVIOUR FOR LIFE INSURANCE IN ERODEJournal For Research
Life Insurance Corporation of India (LIC) is the India’s largest Life Insurance Company. LIC has acquired monopoly power in the solicitation and sale of Life Insurance Policies in India. LIC has registered a six per cent increase in market share to 78 percent during the current financial year. LIC's market share at the end of March 31, 2014, had stood at 72 per cent of all new policies sold during the last financial year (2013-14). The combined market share of 23 Private Life Insurance Companies has 22 per cent during the current fiscal, according to the latest figures. LIC has 53 products in his portfolio and sold around 80 lakh policies till the end of July 2014. LIC has set the new target of Rs. 54000 crores as a first premium income for 2015-16. LIC has a 78 per cent share because the private sector companies focus more on big ticket premiums, while LIC offers at a minimum premium of Rs 250 with life insurance value of Rs 30,000. This enables the public sector company to achieve the social objective of taking its insurance cover to a wider range of the country's population. LIC also has the lowest outstanding claims ratio. LIC had settled 99.8 per cent of death claims while the Private Sector Companies had settled 96.8 per cent of such claims. In this research paper we studied Customer Satisfaction towards Life Insurance Corporation of India (LIC), because Consumer Satisfaction is the first step to Achieve Consumer Loyalty. If the customers of Life Insurance Corporation are Satisfied and Happy then and then only they may be Loyal to the LIC. For this research Primary Data was collected from the various customers of Life Insurance Corporation of India. For data collection designed Questionnaire was distributed and collected from the respondents.
The insurance sector in India is still in its nascent stages. But the Indians are an extremely risk averse race. Thus due to this only the government entities have a good presence and brand
recognition in India and the others have a difficult time carving a space out for themselves in the market.
The study helps to make comparison between the LIC with the new private life insurance company (IDBI Federal Life Insurance Co. Ltd.) on basis of quality of services, consumer satisfaction, awareness, consumer preference, market share, premium collection and their working as a whole. It shows the customer view point with respect to their company.
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Taurus Zodiac Sign_ Personality Traits and Sign Dates.pptxmy Pandit
Explore the world of the Taurus zodiac sign. Learn about their stability, determination, and appreciation for beauty. Discover how Taureans' grounded nature and hardworking mindset define their unique personality.
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
effectively manage the convert Accpac to QuickBooks , with a particular focus on utilizing online accounting services to streamline the process.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
5 Things You Need To Know Before Hiring a Videographer
Life insurance project(LIC)
1. A STUDY ON “POLICIES AND FEATURES OF LIC
PLANS"(AGENT LICENCE)
By:-Anil goswami
Reg no:-11008499
2. Objective
To do detail study of the policies of lic of India.
To pass the exam by nseit conducted at Jammu.
To get license issued from irda and start the agent
work.
Earn commission and get practical experience about
selling insurance products.
3. Introduction to LIC
Life Insurance Corporation of India (LIC) state owned insurance
group was formed in September, 1956, by an Act of Parliament.
LIC have network of 2048 branches,109 division office and 8
zonal office, 1,337,064 individual agents spread over the country.
LICis the largest insurance company in India in terms of its asset
value of 1560481.84 Crore.
LIC headquarter is in Mumbai, India and government of India is
the owner of the company.
4. Products and Subsidiaries..
LIC have various product like Life insurance, health
insurance, investment management, mutual fund.
LIC is having the following subsidiaries
LIC housing finance.
LIC pension plan fund ltd.
LIC international
LIC card subsidiaries
LIC nomura mutual fund.
5. Mission & vision
Mission: "Explore and enhance the quality of life of
people through financial security by providing
products and services of aspired attributes with
competitive returns, and by rendering resources for
economic development."
Vision: "A trans-nationally competitive financial
conglomerate of significance to societies and Pride of
India."
6. LIC logo and Recognitions
LIC's slogan yogakshemam vahamyaha is in Sanskrit language
which translates in English as "Your welfare is our
responsibility”.
The Economic Times Brand Equity Survey 2012 rated LIC as
the No. 6 Most Trusted Service Brand of India.
From the year 2006, LIC has been continuously winning the
Readers' Digest Trusted brand award.
7.
8.
9. Meaning of life Insurance
Life insurance is a contract that pledges payment of
an amount to the person assured (or his nominee) on
the happening of the event insured against.
10. Why to have insurance
Protection
Liquidity
Tax Relief
Money when you need it
11. Constituents of insurance market
Agents: these contribute the major percentage of
insurance sales in India. It’s the agents primary
responsibility to meet the client, understand their
needs and accordingly recommend the suitable
products.
Corporate agents: These include bank and brokers .
Underwriters: these include whether to accept or
reject the insurance proposal. If the proposal to be
accepted then underwriters decides at what price it
should be accepted.
12. Continue..
Actuaries: these calculate the standard price of the
products. The take into account the statistical data and
the past claim experience of the company.
Third party administrators: these do the work of
building hospital networks. They also help in
approvals at the time of the admission to the hospitals
and with setting the bill with insurer on discharge.
Loss adjusters/surveyres: these do the work of
assessing and certifying a loss when a claim is made on
the insurance company.
13. Continue..
IRDA: The regulator has the responsibility of ensuring
the smooth running of the insurance sector .the
insurance regulatory and development authority is the
insurance regulator in India .The IRDA grants the
insurance licenses to insurance companies and makes
sure all the insurance companies compliance at all
times.
Training institutes: these have the responsibility of
supplying trained manpower meet the growing need
of the skilled labor in the insurance industry.
14. Continue..
Institute of India, insurance institute of risk
management and the national insurance Academy
are the premier training institute's in the field of
insurance.
NGO: these play an important role in spreading the
awareness about insurance products and the
protecting the rights of the customers. The role of Ngo
in rural areas where they work with self help groups
(SHGs) and the insurance companies on deeper
penetration of micro-insurance products at grassroots
level.
15. Life insurance products
Basic elements of a life insurance plans
Death cover: this amount to be paid to
nominee/beneficiary in the event of death of the life
insured during the term of the policy.
Maturity benefit: this amount to be paid to the
maturity of the policy if the life insured survives
through the term of the policy.
16. Basic life insurance products
Term insurance plans:
Term insurance plans only offer death cover.
No maturity benefit.
Tenure: normally the term starts from
5,10,15,20,25,30years chosen by the insured and
agreed the insurer.
Minimum and maximum age: most companies
specify the minimum and maximum age at the entry
and exit for the plans.
17. Pure endowment plan
This plan only offer survival benefit in the event of the
life insured surviving the entire tenure of the plan.
There is no death cover.
19. Endowment insurance plans
Combination of term insurance and pure endowment
Maturity benefit: if insured survives the entire term of
the plan insurance company will pay specified amount.
Death cover: if the life insured dies before the maturity
period of the plan insurance company will pay the death
cover to nominee/beneficiary.
Saving Element: along with maturity benefit bonus will
be payed by the insurance company.
Goal based: for child’s marriage and higher education
these plan bought by the insured.
20. Whole life insurance plans
A term insurance plan with an unspecified period is called a
whole life plan.
Death cover: on the death of life insured, the nominee/beneficiary is
paid sum insured along with the bonuses accumulated up until the
point of time.
Emergency withdrawal: individual can make partial withdrawal to
meet emergency requirements.
Saving element: Insurance company declare bonuses for these plans
based on return earn on investment.
21. Convertible insurance plans
Conversion: These insurance plans can be converted
from one type into another. For Instance term
insurance plan can be converted into an endowment
plan or whole life plan or any other plan as allowed by
the insurance company.
At the time of the plan conversion the life insured is
not required to undergo a medical check-up.
At the time of conversion there is no further
underwriting decision to be made.
22. Joint life insurance plans
Jointly insured: Joint life insurance plans offer
coverage of two persons under one policy. This plan
ideal for married couples or partners in a business
firm.
Death cover: sum insured is payable on the death of
the first joint policyholder and then again on the death
of the surviving policyholder along with the
accumulated bonuses up to that date.
Bonus: If both policyholder survived until maturity
then maturity benefit along with bonuses
accumulated until that date is paid.
23. Micro insurance plans
Low income groups: Micro insurance aim to provide
insurance to low income groups.
Insurance range: The irda has specified that the life
cover provided under-micro insurance products
should range from Rs.5,000 to Rs.50,000.
A life insurer may offer life micro-insurance products
as well as general micro-insurance products and vice-versa.
24. Unit linked insurance plans
Higher Risk: unit link carry a higher risky then with-profit
policies and contain fewer guarantees.
Flexible: unit-linked policies suited to people
prepared to undertake some investment risk to obtain
the benefits of flexibility .
Returns: return are subject to movement in the
capital markets where investments such as equities
(shares) are traded.
25. How to become an agent
Submit the required qualifications ,and date of
birth document with fees.
Undergo practical training.
Pass the required examination conducted by IRDA.
Get the license from development officer and start
selling insurance polices to various clients.
26. LIC departments
Branch manager office
Developments officers room
Claims department
Policy service department
Sales departments
Enquiry counter
Cash counter 1
Cash counter2
Agents room
27. Major leanings
Knowledge about different policies of life insurance
corporation of India.
How to fill up proposal form of LIC.
What other document required to be attached with
proposal form of LIC.
How to deal with clients and recommend on the basis of
their needs.
Am able to sell insurance policies and earned commission
to become successful agent for the corporation.
28. Continue..
How to Calculate the premiums of LIC plans
Agents confidential report/Moral hazard Report
30. Conclusion and findings
During this training I learnt about life insurance
various polices and practical things about life
insurance corporation of India.
I got license so I become agent for the life insurance
corporation of India by this my confidence is
increased by this project I understood the various
clients needs and sell recommended polices
accordingly.