Our LIC

Jeevan Arogya - premium calculator free download

2011-06-09T21:55:00.000-07:00

Jeevan Arogya is a great health insurance plan from Life Insurance Corporation of India which provides complete protection for an entire family from loss due to hospitalization and surgeries at a very nominal cost.
The complete details of the plan is available here. Calculation of premium for an entire family is made simple through Jeevan Arogya premium calculator.Download premium calculator by clicking the link below.
Download

Income Tax Calculator

2010-10-15T08:52:00.000-07:00

Income tax calculator is a useful software which can be used to calculate income tax payable accurately for the years 2011-2012,2010-2011,2009-2010,2008-2009 and 2007-2008. Give the starting year of the financial year in the "Year" text box for which you want to calculate tax and then click the "Calculate" button . This software will allow you to store and calculate income tax of a single person or a group of people and a report can also be generated. One prerequisite for running this software is that the macro security level of the microsoft access should be kept to medium or low. Macro security level can be changed from the options tab under the tools menu of the access.(If you have any problem mail me at anishljlic@gmail.com).

Make sure to enable the macros option when prompted while starting the software. Keep the year of calculation as 2009 to calculate the income tax for the current year.

Download Income Tax Calculator.

Magic Plus- Free presentation software for LIC's Endowment plus and Pension plus.

2010-09-19T02:09:00.000-07:00

Magic plus is a free presentation tool which can be downloaded from "ourlic" is indented to be used as a complete presentation software for LIC's newly released Unit linked plans. The Pension Plus and Endowment plus are in line with the Insurance Regulatory and Development Authority's latest ULIP guidelines which came into e

ffect from September 2010.

Pension plus is a great pension plan from LIC offering a double benefit of minimum guaranteed returns - depending on market rates prevailing - and a chance for a higher returns from equity market. The Pension Plus plan would be available in two options -- debt fund and mixed fund. Under the debt fund, not less than 60 per cent of the corpus would be invested government securities, while the remaining 40 per cent would go into money market instruments. In mixed fund plan the investment in government securities would not be less than 45 per cent, while 40 per cent would go into money market instruments and 15-35 per cent into equities.

Endowment Plus offers a host of features including loan from the total fund value and complete or partial withdrawal after five years. Fun

ds include aggressive fund called Growth fund, moderate risk funds including secured fund and balanced fund and low risk fund called bond fund.Magic Plus software is intended to give a quick idea of the ULIP plans introduced by Life Insurance Corporation of India. Click the download link below and then save the file to your system and then open it. If there is any difficulty in opening the program please check the macro security level of your Microsoft Excel. The macro security level should be kept as medium and remember to enable macros when prompted by the system.

Click here to download software

Client Management (Free software)

2009-05-27T04:04:00.000-07:00

Client Management is a useful and user friendly software created by me especially for the agents and Development Officers of Life Insurance Corporation of India, who need to manage large number of clients in their day to day activity.

This software helps to keep track of the list of the clients, their address, phone numbers etc. A special module is provided to enter the policy details of the clients. Policy number of any client can be accessed and edited easily. Appointments and meetings also can be managed easily. Reports are provided for viewing and printing address, Phone numbers,
Appointments etc.
On starting the software you will be prompted on enabling the macros. You can trust this software and please feel free to enable the macros. If such a message is not coming you will have to check the macro security level of your system and lower the level if needed.

Download Client Management.

Jeevan saral - free plan presentation software and details

2009-03-13T18:09:00.000-07:00

Jeevan Saral is a versatile insurance plan from Life Insurance Corporation of India with features of conventional plans and flexibility of unit linked plans.

It provides:

Higher insurance cover
Smooth returns
Flexibility and liquidity

You are provided the freedom to choose the premium you want to pay. Once premium is chosen Insurance coverage and the maturity benefit is derived from it.

Salient Features

Maturity benefits : Maturity Sum Assured (MSA) + Loyalty additions
Death benefit: 250 times of the basic monthly premium + Return of premium paid (excluding 1st year premium) + Loyalty additions.
Loyalty addition: will be declared after the policy has been in full force for at least 10 years.
Auto cover: If the policy is in force for more than three years, the risk coverage will continue for another 12 months even if the premiums are not paid in that period.
Surrender charge: No surrender charge will be deducted from policies surrendered after 5 years.
Partial surrender: is available after 3 years and provides a smooth return on your needs.

Download a free plan presentation software for Jeevan Saral by clicking the download link given below. Choose the save file link when asked and save it to the desired folder. Please choose enable macros on starting the software.If you find any problem in using the software probably the macro security level in your microsoft excel may be kept very high.Please lower the macro security level so that you can enable the macros. If you have any doubts please contact me.

Download

Anish's Income Tax Calculator

2009-02-22T16:32:00.000-08:00

Anish's IT calculator is a free useful tool to help you calculate income tax payable accurately. It can be used for a single person or a group of people. Data can be stored for any number of people and a report can be generated or printed out. Facility has been provided to calculate tax in older scheme also for reference purpose.

How to install the software.
You can download the software as a ZIP file. Extract it and run the setup file. A wizard will help you in installing the software. An icon will be placed in the start menu folder and the desktop to help you to open the program. On opening the program you will get a security screen as shown below and you can click the open button.

Office 2007 users or those who have already installed Access 2007 runtime in their system can download software from here. (Smaller size-290 kb)
Download for Office 2007
Earlier versions of office users and if you are not sure of your of which office package you are using you will have to download and install Access Runtime by clicking here.
The updated version for income tax calculation according to the 2009-2010 rule can be downloaded from here.

Jeevan Varsha - Plan details and benefit illustration

2009-02-12T08:40:00.000-08:00

LIC launches Jeevan Varsha - an attractive money back plan with guaranteed addition. The term of the plan can be chosen between 12 years and 9 years and the premium paying term is fixed as nine years on both the cases.Guaranteed addition of Rs. 70 per thousand is available for 12 year term and Rs. 65 per thousand for nine year term.
Salient features
Minimum Sum Assured - 50000 (75000 for ECS mode)
Minimum Age at entry - 15 years completed
Maximum age at maturity - 75 years nearest birthday
To download Premium Ready Reckoner click here

If you want a complete presentation tool of Jeevan Varsha, You can download it by clicking here.

You can know more about Jeevan Varsha from LIC's official website by clicking the links below.

Track your LIC policies through website

2009-02-10T16:10:00.001-08:00

LIC of India offers easy tracking and servicing of all your policies through LIC's official website. Follow these simple steps to enroll your policies.

Step 1: Create a username and password
You will have to create a username and password to enable you to login to licindia.com. Click here to reach the web site of LIC. In the screen you will see a login form. Click on the 'New user' link. The site will ask you to enter your policy number. Enter any one of your policy number and exact premium. The site will take your other details from the policy you entered. Select a user name and password in the subsequent screen and logon to the site using the created user name and password.
Step 2:Enrolling your policies
Click the enroll policies button. Give the correct number of policies to be enrolled in the beginning itself. Enter all the policies in the screen and click the 'Enroll your policies' link. You will get a list of your enrolled policies as a PDF document and take a print out of it.

Step 3: Validating the enrolled policies.
Send the duly signed document containing list of enrolled policies to a branch where at least one of your policies are being serviced. Validation will be done from the branch. After validation you will be able to track all your policies from the web site. Validation is not required for many operations like paying premium online, viewing policy details, seeing automatically generated premium calender etc.

Gujarat NRE Coke raises Rs 100 crores from LIC

2009-02-10T04:17:00.001-08:00

Gujarat NRE Coke Ltd has announced that the Board of Directors of the Company at its meeting held on February 07, 2009, inter alia, has allotted Secured Non-convertible Redeemable Debentures aggregating Rs 100 crores to Life Insurance Corporation of India.

The Board subject to the approval of shareholders, decided to raise funds by issue of Non-Convertible Debentures with Warrants upto Rs 1000 crores through the Qualified Institutional Placement at such price and on such terms and conditions as may be decided by the Management Committee/Board of Directors.

The stock was trading at Rs.23.45, up by Rs.0.75 or 3.30%. The stock hit an intraday high of Rs.23.80 and low of Rs.22.80.

The total traded quantity was 317576 compared to 2 week average of 760482.

Source: Equity Bulls

Business to grow 20% a year: LIC chief

2009-02-10T04:14:00.001-08:00

Undeterred by the contraction in the insurance industry in recent months, state-owned Life Insurance Corporation (LIC) is targeting a business of over Rs 3,00,000 crore by 2011-12.

“Our premium growth over the period has been over 20 per cent each. This year we are targeting Rs 1,75,000 crore (total premium). At 20 per cent, in three years, it will increase to Rs 3,00,000 crore,” LIC Chairman T S Vijayan said.

“Anything more than Rs 3,00,000 crore after three years would be a bonus for us,” he said. With the Rs 1,75,000 crore total premium by the end of current financial year, the life insurance giant is looking at a market share of about 75 per cent.

Talking about new business target for this year, Vijayan said the insurer expects to earn first year premium of Rs 57,000 crore even when the private sector insurers are uncertain about meeting the targets due to economic slowdown.

“I would still believe that we should get Rs 57,000 crore. LIC is not in a habit of revising target mid-way,” he said.

Vijayan said, “In the first quarter, our market share went down to 49 per cent then brought some new products ... We have taken corrective steps for it. I think we will be able to get that. So, going forward we are looking at 60 per cent.”

Last year, LIC collected first premium of Rs 43,800 crore and commanded a market share of 63 per cent. However, the market share of LIC declined to 55 per cent in November 2008, with first premium collection at Rs 25,220.62 crore. On the decline in the market share, Vijayan said, “Ulips had overtaken all other policies till March (2008). When we analysed the portfolio in the month of March, we thought that this is not the right way of selling insurance in a country like India.”

So, for the first three months, LIC did not bring replacement product, he said, adding that on top of it, the company withdrew some product in March without introducing replacements in the market.

“That had created a big vacuum. The absence of the product in the right market,” he said.

“May be it was conscious decision. It was felt that top line would go up but what we are sacrificing is something else. We wanted to push other things,” he added.
Press Trust Of India / New Delhi February 10, 2009, 0:26 IST

Rs 600 cr IDBI, BoB, LIC bailout for Satyam

2009-02-10T04:12:00.001-08:00

The beleaguered IT major Satyam Computers will be bailed out by two banks with term loans of Rs 600 crore to fulfill the immediate fund requirements of the company.Private sector IDBI Bank Chairman and Managing Director Yogesh Agarwal on Monday said that his bank and public sector Bank of Baroda (BoB) have decided to extend credit of Rs 300 crore each so that the fraud-hit company can meet its immediate expenses including payment of salaries to its employees, rentals for its office premises and payments to vendors.According to Agarwal,these loans are not a bailout package and are a regular bank transaction granted against pledging of security. Though he did not spell out the details of transaction, the new board of Satyam has decided to pledge a part of itshuge land-bank in Hyderabad, as security to the banks. At current market estimates, these securities have a face value of Rs 1,500-Rs 1,700-crore.Senior officials of BoB said that, they both IDBI and BoB have agreed in principal to sanction loans to the tune of Rs 600 corers, however the final amount would depend after the formalities are cleared, which may take about a fortnight.“It’s a big commitment and we have to see how much we can sanction. Right now we are processing the request, and things will depend on how leverage we have,” the official said.According to BoB official, Satyam board has also approached LIC to bridge the gap if these two banks are not able to suffice the entire requirements.“The immediate need of Satyam is to clear off its sundry debtors and take care of its short term requirements so that they don’t lose any clinets. Once the immediate requirements are taken care off, they will focus on developing further business,” they added.Satyam’s future has been spoken about right from the time B Ramalinga Raju unfolded the extent of the fraud he had played on the company’s shareholders and employees, and its considerable number of customers including 150-plus Fortune 500 entities.Since that day last month, when Raju wrote his “getting off the back of a tiger” letter and washed his hands off Satyam, a lot has transpired. Raju and his cohorts including his brother are behind bars, and several enquiries are on including a CID investigation and SEBI questioning, with so far not much coming out of these probes, except media speculation.The Rs 7000 crore fraud has to an extent also impacted India’s growth story in the eyes of the world, with the IT industry coming in for special scrutiny. That there was a bigger game played in the shadows of the Satyam fraud is common talk but what that was, nobody yet can tell.

ENS Economic Bureau

First Published : 10 Feb 2009 02:52:00 AM IST

UAE Exchange ties up with LIC

2009-02-03T00:15:00.000-08:00

Kochi: UAE Exchange has entered into a strategic tie-up with the LIC of India as its corporate agent from January 15, says a release. UAE Exchange offers four LIC policies namely endowment plan, child plan, ULIP plan for pension and investment, and investment and tax saving plan. This facility is rendered through all the 221 branches across the country. It will also be acting as the renewal premium collection centre for the public shortly.
Special Correspondent, Hindu, Monday, Feb 02, 2009

LIC eyes Rs 14,00,000 crore asset size in three yrs

2009-02-02T16:51:00.000-08:00

NEW DELHI: Looking to capitalise on its vast network of insurance agents, growing by lakhs every year, country's top life insurer LIC expects its
asset size to grow by about Rs 6,00,000 crore or 75 per cent in next three years.

This will take the company's asset base, already highest in the country, to between Rs 13,00,000-14,00,000 crore in the three years' time, Life Insurance Corporation Chairman T S Vijayan told media.

"We are number one in financial terms with Rs 8,00,000 crore of assets .. Nobody else comes even close... even banks don't have Rs 8,00,000 crore (assets)," he said.

Asked where he sees the company in the next three years, Vijayan said: "In three years, LIC should be handling anywhere between Rs 13-14 lakh crore."

Set up in 1956, the government-run life insurance major had about Rs 8,00,000 crore of assets at the end of last fiscal, or as on March 31, 2008.

To meet this target, LIC is planning to nearly double its field workforce of agents by March 2011, from about Rs 11,93,000 as on March 2008.

"(In) three years, we want to double the number of agents," he said, adding, "last year, we ended with 11 lakh plus agents and we would like to increase it by a minimum 25 per cent by March, 2009. This is a target we have taken ourselves and I think we will be able to do it."

During the current fiscal, LIC has already recruited about two lakh insurance agents across the country, which is more than double of about 90,000 agents hired in the previous fiscal.

Besides, LIC has also hired 4,500 development officers so far in the current fiscal and up to 5,000 new officers could be hired in the next fiscal, he noted.
Economic Times,1 Feb 2009, 1221 hrs IST, PTI

LIC hikes stake in CanBank to 5%

2009-02-02T16:45:00.000-08:00

The country's largest insurer Life Insurance Corporation (LIC) has raised its stake in state-run Canara Bank to 5.08 per cent through open market transactions estimated over Rs seven crore.In a disclosure to the Bombay Stock Exchange, Canara Bank said, state-run LIC has acquired 4.24 lakh shares, representing 0.10 per cent stake in the bank via market purchase on January 29.

Based on the closing price of Canara Bank as on January 29, the deal value comes to Rs 7.51 crore.

Post acquisition, LIC now holds 2.08 crore shares representing 5.08 per cent stake in the PSU lender.

Shares of Canara Bank were trading at Rs 181.80, up 0.86 per cent in the afternoon trade on the BSE.

Press Trust of India / Mumbai February 02, 2009, 15:52 IST