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LIC

lic 11

 download Bhagyalaxmi premium table 1

 download Bhagyalaxmi premium table 2

 

Bhagya laxmi JPG

 

Bhagya laxmi JPG (1)

 

  • Insurance reduces the vulnerability of poor households and consequent protection increases their ability to participate in the growing economy. The Financially under privileged are vulnerable to many types of risks like disability , disease, loss of life property and assets resulting from accidents or disasters
  • The Micro Insurance products are simple with easily understandable features and low priced to become affordable by the poor. The MI products are not based on welfare measures but are scientifically competed on fully funded actuarial principles and hence become sustainable.
  • As per available census marginal workers as on 2005 in the age group of 15 to 60 are 12 million and essentially this will form our target group.
  • The MI products are not based on welfare measures but are scientifically competed on fully funded actuarial principles and hence become sustainable.
  • Provide valuable insurance cover to the marginalized section of the society, IRDA issued micro insurance regulations in Nov 2005
  • Life Insurance Corporation of India (LIC) responded to the IRDA regulation by forming a Micro Insurance Dept at the central office in December 2005.
  • Jeevan madhur”, a special insurance plan was launched as the first Micro Insurance plan by the then Hon. President of India, Dr. A.P.J.Abdul Kalam on 28/09/2006.
  • – NGOs                 }
  • – SHGs                   }    Micro Insurance Agents
  • – MFIs                   }
  • The Micro Insurance Agents are appointed by C.O. as per IRDA guidelines. And the Micro Insurance Business Model requires that the M.I.Agent in turn appoints Specified persons to solicit MI business.

Authorization certificate by LIC Cuttack Division

 

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