#licmerchant

LIC Merchants are those individuals who are involved in the premium collection process by LIC of India. Merchants works link a link between Policy buyer and Lic of India. Lic merchants look for details about Premium collection and also updates its details. 

Life Insurance Corporation of India is the largest life insurance company in India and is also the country's largest investment company. It is completely owned by the Government of India. It was established in 1958.

LIC  headquarter is located in Mumbai, which is the financial capital of India. Life Insurance Corporation of India has 4 zonal offices and 101 divisional offices located in different parts of India. It has 204 offices which are located in many cities of the country and it has 1 million agents across India.

Insurance Corporation of India, India's largest life insurance company and is also the country's largest investment company. It is completely owned by the Government of India. It was established in 1958.

LIC Tech Term Plan: LIC Tech Term Plan Policy is a pure life insurance policy that serves to provide full financial support to the insured family in case of any unfortunate or unexpected event. You can buy this term plan only through the online application process and no agent is required.

LIC New Endowment Plan: LIC New Endowment Plan is one of the most popular non-linked plans by LIC which provides a combination of security and savings to consumers. This effective insurance policy is attracting the consumer on a daily basis and the reason behind this is that the scheme provides necessary financial support to the insured's family before maturity. Under this, there is a good lump sum at the time of maturity for the surviving policyholder. The scheme also takes care of personal needs through a credit facility to the customer.

LIC Jeevan Anand Plan: LIC Jeevan Anand Yojana is also a participating non-linked policy that offers an attractive combination of security and savings. If you look at the facts, you will find that it is the most sold insurance policy by Liech. Due to its many benefits that include risk coverage even after lifetime maturity, This is most necessary. Leech Jeevanand comes with a bonus facility which is a whole life policy. Under this, you will get double death benefits in case of survival. The plan has an average premium, high bonus rate, and large cash facility

LIC New Children Money Back Plan: Leech New Children Money Back Plan is a participating non-linked money back plan. It is specifically designed to meet educational, marriage and other needs of growing children. In addition, you will receive risk cover over the life of the child during the policy term and several survival benefits if you survive to the end of the specified period. You can choose annually, half-yearly, through ECS or through SSS mode You can pay premium regularly in quarterly or monthly mode. If you have paid the premium amount for the initial three years, the policy can be surrendered at any time during the policy term.

Lic Jeevan simple: This subsidiary insurance policy comes under the special plan section of LIC. It is an endowment policy that provides a lot of flexibility that people typically get under Unit Linked Insurance Plans (ULIPs). With the excellent features of traditional plans and the flexibility of ULIP plans, Jeevan Saral Insurance plans offer double death benefits of the sum assured as well as the return of premium.

LIC ONLINE PREMIUM PAYMENT PROSESS ?

making  LIC payment online is fairly essay and you can make this payment using your debit and credit card.

but before you get started with log on to the LIC's official website to make the payments .it only makes sense to get acquainted with a few eassy steps to do this without having to run from pillar to post.

LIC OF INDIA PREMIUM

LIC is the important insurance of life.it is life insurance to make premium payment on time. A premium is the cost paid to the insurance provider to get the financial coverage for various risk.

LIC of the Indian premium can paid the monthly ,quarterly ,annually or semi-annually .some policy also have the option of the one-time premium payment which eliminate the need of policy renewal every year.LIC premieum can be done online or offline.

 In case the premium is not paid by the dye to date mentioned in the policy ,the plan can laps and you might not get the coverage benefit when needed.

HOW TO CALCULATE LIC PLAN PREMIUM

premium calculator for following plans are available which provide yearly.

half yearly ,quarterly and monthly premium according to sum assured term and age.

goods and service tax (GST) are applicable on insurance premium ,premium calculators display applicable GST separately.

LIC online premium payment method is easy and here the step the  calculate premium for LIC life insurance and health insurance policy.

▪visit the website of LIC.

▪scroll down to the end of page and click on premium calculator tool.

▪Feel in your personal details   and click on next click on quick quote.

▪now from the list of policies,detect the one from which you wish to get premium estimation and hut the coverage button.

▪choose the coverage option sum assured and policy term and click on quote  

▪you will get estimate of the premium to be paid towards  the selected policy.

FACTORS AFFECTING LIC PREMIUM CALCULATION

top 10 factors affecting LIC Premium calculation

As you perchance a life insurance policy for yourself you have to pay premium to keep it in force .it is important to know the   reason that may affect your premium cost compelling you to pay higher premium to the insurance company.

    A great way to help and protect your loved once ,is with life insurance which can be a huge investment as well a lower premium paid can be yield to a good amount of saving over a period of few year.

life insurance premium are based on no.of factors and it can be tedious .for a few people to understand why and what the changes are and why they pay a rate that may not be the same as another.

there are some factors that may insurance companies consider when pricing their policies.there factor may not be within your control.

but the life choices you make can also lead to the factor than can affecting your life insurance premium.

The factors affecting your premium towards life  insurance  are :

1)  AGE     This is an obvious and not surprising factor affect your life insurance premium. the age of the policy holder.

if you are young the rate will be lower in comparison to someone older to possibility of young individual  contra ting a life creating dieses or to pass away in their youth is unlikely.

the insurance company believe that  you'll make money premium pay.ent before they have to write the cheque for your family.

2) GENDER

insurance companies are not against gender equality but they believe there is a different genders.as per the studies and satisfied feelings .women are believed to live 5 years more than man the minimum affecting premium they pay making them pay the premium for a larger period of time but at lower rate which is plus point for the women.

3) SMOKING    smoking puts the policyholder ata higher  risk  of all ailments ,so if you are smoker that as good as rising a red hag to the insurance companies.most smoker pay   a premium twice as much as non smoker does thus affecting their premium to a huge extend .

4)  MEDICAL HISTORY      There is not much can do with the gene pool they come from a if a policy holder .has a medical history  of serious illness like cancer, heart  diseases,or any other then that makes the  susceptible.

to get this from a hereditary perspective .which increases the individual premium bye a larger margin that if this gene pool was'wasn't.

5)  HEALTH RECORD 

     you as the policy holder will also need will ensure that you doesn't't have any chronic diseases as potential .health issues and keep your premium also in check instead of   making different to it .

6) DRINKING  drinking is injurious to health is more ways than one  .if you're  the   policyholder an a heavy consumer of alcohol this can affect your premium at higher insurance rates.insurance companies ensure to ask the applicant are smokers or drinkers.

7) THE POLICY     THE Policy itself also affects the premium you pay the larger .the ten of the amount of benefit at the time of death since you're paying if for that period of time.

8)  PROFESSION   Your profession  also pay an important role in the premium you end up paying and policy holder working in the mining industry and gas oils fisheries or any other .dangerous profession increase the premium amount you pay for the policy you decide to take

9) LIFE CYCLE CHOICE   many insures have a higher premium for people who love to takes risk .for the thrills of it .life speeding cars .climbing mountains or other higher risk activities .thereby increase your premium to substantially most of other.

10) OBESITY    Another factor that affect the premium as policy holder  being a base can lead to no. Of problems like high blood pressure  , coronary heart disease ,causing overall health diseases in the future can increase your  rates.

 HOW TO MAKE LIC ONLINE PREMIUM PAYMENT

  You can do either visiting the lIC website or downloading LIC India's app .to pay  a premium through the insurer's pay premium online form the online services portal.here you will get two options.

a) pay direct ( without login ) b) through customer portel.

HOW TO DOWNLOAD PAYMENT RECEIPT

      FOR download LIC Premium payment recipe online you must be registered users of LIC's e -services , above explained the full step of how to register  as  a first time user .now let me explained the step LIC premium payment receipt online.

🔹Step 1 Go to LIC homepage and click the link called LIC'S E-SERVICES  Which available on online service.

🔹step 2 Then you have to click on the tab registered as this user this time .because you are already a register user.

🔹step 3 now you have to enter the   your user ID and password if you forget the user ID and password .then the link provided for the sane and screen look like below.

🔹step 4  Now you will be the welcome scren of LIC e-services page and it look like below

HOW TO RECEIVED LAPSES POLICY

  there are time you may  forget to pay the policypremium on this time due to this ,your policy can become heel and void now.

however by paying the premium with offline you can revive the policy and enjoy the uniterrrruptedly .

TAX BENEFITS OF LIC ONLINE PREMIUM PAYMENT

 ▪LIC online premium payments fetch your tax detection as per the rules set under the income tax Act 1961.

▪you can claim detections in income tax under section 80c .

▪ there is a limit of 1.5 lakh ,i.e detection amount can goes up to RS 1.5 lakh .