Life Insurance Corporation (LIC) is actually the largest insurance company owned by the Government of India. At the same time, it is the biggest stakeholder in the country. The headquarters of the company is located in Mumbai. The firm offers diverse insurance policies to both employee groups and individuals. On the other hand, the company finances 24% of the expenditures of the government. The LIC carries out its work with the assistance of more than 100 divisional offices, 2,049 branch offices, 8 zonal offices and 10,02,1549 agents spread all over India. The total asset worth of the firm has been valued at INR 9.31 trillion. With the advent of computer technology, the company has been able to facilitate customer-oriented services across the country. Today, with the help of LIC policy status check online expertise, anyone can easily check the current status of its insurance policy without any hassles. The online facility will enable you to check your past and current payments effortlessly. At the same time, you can make the payment from the comfort of your home by using online payment option on the official website of LIC. You just need to register on the website with all the relevant details of your policy and could avail all the facilities offered by the company.
Online Gateway Payment
The company with exceptional products and services has already made a mark on the minds of people in the country. In fact, it has been already voted as the best company to work with by a survey. The online gateway expertise provided by the company to make online payments is just a few clicks away from the customers. With the help of check policy status online gateway, customers can easily view all the details of their policy at any point of time. Moreover, they can also make payments whenever they feel like using net banking option. The payment gateway option is an important unit of the offer.
Features of Online Status Check
The gateway provides real-time information of the policies, payment, renewals, premiums and other pertinent information through the website. This alternative is available to registered users, who have registered their policies. All the steps and guidelines pertaining to online status check and payment have been listed on the website of the company. You just need to follow the instructions carefully, and could get all the details instantly. The company was formed in 1956 with incorporation of more than 200 insurance firms and provident societies. Earlier, the company was called Oriental Life Insurance. It was the first company in the country to offer life insurance policies. In spite of intense competition in the market, the company still enjoys an amazing 70 percent market share.
The LIC has already increased its market share in recent months, which is a unique achievement, considering the consequences of inflation and high fiscal deficit. It has been observed that private life insurance firms have inclined to pay high commissions to their agents in order to generate more sales, however LIC has been found conservative in their commissions and generated justifiable, lucrative business.With more than two crore policy holders, 71 percent share in the market and assets of INR 11 lac crores, the company’s embedded worth has been projected to be at INR 2.5 lac crores. Embedded value is basically the current value of returns expected from the future along with attuned net asset value.