LIC’s focus on protecting the poor is changing: Rahul Gandhi
3 days, 8 hours ago

LIC’s focus on protecting the poor is changing: Rahul Gandhi

The Hindu  

Leader of Opposition in the Lok Sabha Rahul Gandhi on Wednesday met a delegation of Life Insurance Corporation of India agents and discussed recent changes in rules. Mr. Gandhi in a social media post said the changes in rules by the Insurance Regulatory and Development Authority of India and the LIC would make insurance less affordable to the poor and marginalised communities and also weaken the position of agents. “I just spoke to a group of LIC agents and they mentioned certain actions that are being taken by the management of the LIC which are dangerous for the future of the LIC,” Mr. Gandhi said in a video message, after meeting the delegation at his office in the Parliament House complex. Concerns of agents He also shared a short video of his interaction with the agents in which they shared their concerns such as reduction of commission, return of commission if a policy holder stops insurance policy after the initial payment and reduction of upper age limit to enrol a person for some specific policies.

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History of this topic

Several clauses in Insurance Act Amendment Bill against spirit of nationalisation, says LIC union leader
3 weeks, 6 days ago

Several clauses in Insurance Act Amendment Bill against spirit of nationalisation, says LIC union leader

The Hindu  

Members of the All India Insurance Employees’ Association conducted a signature campaign to bring forth the public opinion in Kadapa on Sunday on the Union Government’s proposal to allow 100 per cent Foreign Direct Investment in the insurance sector. The event was conducted under the leadership of AIIEA zonal working committee member Akbar Basha, where leading personalities such as Tourism …

Rahul Gandhi chosen LoP in Lok Sabha after INDIA meeting
8 months, 3 weeks ago

Rahul Gandhi chosen LoP in Lok Sabha after INDIA meeting

Hindustan Times  

Congress lawmaker Rahul Gandhi will be the Leader of the Opposition in the Lok Sabha, the party announced on Tuesday after a meeting with key INDIA bloc leaders, marking the first time in a decade that the Lower House will fill the position. New Delhi, Jun 25 : Congress MP Rahul Gandhi takes oath as a Member of the 18th …

LIC to enter health insurance? ‘Done some internal groundwork’, exploring acquisition opportunities
9 months, 3 weeks ago

LIC to enter health insurance? ‘Done some internal groundwork’, exploring acquisition opportunities

Hindustan Times  

State-run Life Insurance Corporation may enter the health insurance segment and is reportedly exploring acquisition opportunities. At present, life companies can only offer long-term benefit covers under health insurance and for them to provide hospitalisation and indemnity cover, an amendment to the Insurance Act would be needed. LIC quarterly results The public sector insurer posted a net profit of ₹13,781.59 …

LIC employees protest against Centre's disinvestment proposal
4 years, 1 month ago

LIC employees protest against Centre's disinvestment proposal

India TV News  

LIC employees protest against Centre's disinvestment proposal During the Union Budget on Monday, Finance Minister Nirmala Sitharaman said that the initial public offering of LIC will be brought in through requisite amendments in the session itself. During the Union Budget on Monday, Finance Minister Nirmala Sitharaman said that the initial public offering of LIC will be brought in through requisite …

Budget 2020 | Unions protest LIC stake divestment move
5 years, 1 month ago

Budget 2020 | Unions protest LIC stake divestment move

The Hindu  

Employee unions of the Life Insurance Corporation of India on Saturday opposed the Centre’s plan to sell a part of its stake in the state-run insurance behemoth through an initial public offering, insisting that the move was “against national interest.” Finance Minister Nirmala Sitharaman said the LIC would be listed as part of the government disinvestment initiative. The government proposed …

Rahul Gandhi repeats a long debunked lie about health insurance for Jammu and Kashmir govt employees
6 years, 5 months ago

Rahul Gandhi repeats a long debunked lie about health insurance for Jammu and Kashmir govt employees

Op India  

There is no end of lies by Congress president Rahul Gandhi. https://t.co/DlEOqWA2NH — Rahul Gandhi October 6, 2018 He has claimed that employees of the Jammu and Kashmir government have been arm-twisted to buy health insurance from Reliance General Insurance company, which is part of Anil Ambani’s Reliance group. The allegation of Reliance on health insurance being made mandatory for …

LIC loan processing to go online
7 years, 7 months ago

LIC loan processing to go online

The Hindu  

In order to keep pace with the current insurance and gen-next trends, Life Insurance Corporation of India would soon allow loans to be procured online. “All one needs is a registered mobile number and an Aadhaar card,” said R. Thamodharan, Southern Zonal Manager, here on Friday. He was addressing a gathering of policyholders, agents, staff and former employees at a …

LIC favours raising FDI cap in insurance sector to 49 per cent
10 years, 6 months ago

LIC favours raising FDI cap in insurance sector to 49 per cent

India TV News  

New Delhi: Public sector insurer LIC has lent its support to government's proposal of raising the FDI limit in the sector to 49 per cent, a move criticised by a section of the select committee that is evaluating amendments to a bill pending for four years in the Rajya Sabha. Sources said LIC Chairman SK Roy, while presenting the view …

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