LIC Branches in Bangalore.

LIC of India,Bangalore (Rich.Town )
Richmand Town Branch Office
Canara Muttal Bldg 2nd Flr.
Recidency Rd Bangalore
Pin Code: 560025
Branch Code: 308


LIC of India, Bangalore(St. Marks Rd)
St Marks Road Branch
Oriental Bldg 1st Flr M G Road.
Bangalore-560001
Branch Code: 309


LIC of India,Krishnarajapuram C B 25
Lakshmi Complex, No.41
Opp Syndicate Bank Old Madras Road.
Krisnarajapuram,Bangalore
Pin Code: 560036
Branch Code: 36A

For more Assistant call LIC Customer Care Number
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LIC of India,Bangalore I CAB
Career Agents Branch Office
Jeevan Prakash Annexe.
J C Road Bangalore
Pin Code: 560002
Branch Code: 6002


LIC of India,Channapatna Branch Office
640/1,Chikkamalur
Bangalore Mysore Highway
Channapatna-571501
Branch Code: 601


LIC of India,R T Nagar Rr Office
Lakshmaiah Block 37 10th Cross
Ganga Nagar H A Farm Post.
Bangalore-560024
Branch Code: 6011
For any LIC policy, contact me at 9972660645 in Bangalore

LIC of India,Bangalore Cb No 8
N R Square Branch Office
Indian Mutual Bldg 4th & 5th Floor.
N R Square Road,Bangalore
Pin Code: 560002
Branch Code: 602


LIC of India,Bangalore Civil Stan East
Oriental Bldg Ground Floor M G Road.
Bangalore, Civil Stn.(E)
Pin Code: 560001
Branch Code: 603


LIC of India,Bangalore Cb 6 (KG Road)
Prithvi Building
K G Road.Bangalore
Bangalore-560009
Branch Code: 604


LIC of India,Bangalore DAB
Direct Agents Branch (City Branch VII)
Jeevan Prakash Annexe 1st Floor.
J C Road Bangalore
City: Bangalore
Pin Code: 560002
Branch Code: 610


LIC of India,Bangalore City Branch Off-I
United India Bldg
1st Floor J C Rd.
Bangalo-560002
Branch Code: 611


LIC of India,Civil Station Branch
Oriental Building
2nd Floor M G Road.
Bangalore-560001
City: Civil Station Cbo-2
Branch Code: 612


LIC of India,City Br 3, Malleswaram
1st Flr 2nd Main
1/1 Sampige Rd Malleswaram.
Bangalore, Malleswaram Cbo-3
Pin Code: 560003
Branch Code: 613


LIC of India,Residency Road Branch
Canara Mutual Bldg Ground Floor No-4.
Residency Road Bangalore-560025
Branch Code: 614


LIC of India,Mandya Branch Office
Bandigowda Lay Out
Bangalore Mysore Roadmandya
City: Mandya
Pin Code: 571401
Branch Code: 618


LIC of India,Basavangudi Branch Office
No.1 (Old No.8/9) 1st Cross
3rd Main Road Chamrajpet
Basavangudi
Bangalore-560018
Branch Code: 61A

LIC of India,J C Road Branch
Jeevan Prakash, 3rd Floor
J C Rd, Bangalore
Pin Code: 560002
Branch Code: 61B


LIC of India,Jayanagar Branch
Jeevan Soudha 2nd Floor
J P Nagar I Phase-Bangalore
City: Jayanagar
Pin Code: 560078
Branch Code: 61C


LIC of India,Yeshwantpur Branch Office
No-12 GMN Complex
1st Main Gokul I Phase I Stage
Mathikere Bangalore
City: Yeshwantpur
Pin Code: 560054
Branch Code: 61D


LIC of India,Indiranagar Branch Office
Jeevan Jyothi
NEXT TO BDA Complex III Floor
Indiranagar II Stage
Bangalore-560038
Branch Code: 61F


LIC of India,Rajajinagar Branch (CBO-17)
No 543 544 545/16 Sthanikam'S Arcade
Opp St Therasa Hospital Dr Rajkumar Road
Rajajinagar Bangalore
City: Rajaji Nagar Cbo-17
Pin Code: 560010
Branch Code: 61G


LIC of India,Koramangala Branch (CBO-19)
No.6 7th Main 80 Feet Road
Near Bts Kalyan Mantap Iii Block
Koramangala Bangalore-560034
Branch Code: 61L


LIC of India,Frazer Town Branch Office
86/3,86/4 Coles Road
Next to Petrol Bunk
Frazer Town,Bangalore-560042
Branch Code: 61M


LIC of India,Maddur Branch
Jeevan Jyothi Lic Building
Bangalore-Mysore Main Road
Maddur Karnataka,Maddur
Pin Code: 571420
Branch Code: 61N


LIC of India,J.B.Nagar Branch
Near J.B. Nagar Bus Terminus
Jeevan Bima Nagar
Bangalore-560075
Branch Code: 61P


LIC of India,Peenya Branch
No 14/43 Tumkur Road
Indl Suburb Near Canara Bank.
Bangalore -560022
City: Peenya
Branch Code: 61U


LIC of India,M G Road Branch Office
3rd Floor Chandra Kiran Building
Kasturba Road, Bangalore
Pin Code: 560001
Branch Code: 61W

LIC of India,Vijayanagar C B O
18-C Adichunchanagiri Mutt
Shopping Complex Vijayanagar.
Bangalore-560040
Branch Code: 61X


LIC of India,Sarakki Branch (CBO-22)
Jeevan Sudha
1st Floor J P Nagar I Phase.
Bangalore-560078
City: Sarakki Cbo-22
Branch Code: 61Y


LIC of India,Haveri Branch Office
Poona-Bangalore Road.
Haveri Karnataka
Haveri-581110
Branch Code: 638


LIC of India,Bangalore CA Branch-2
Jeevan Jyothi
NEXT TO BDA Complex
Indiranagar II Stage
Bangalore-560038
Branch Code: 801


LIC of India,Bangalore-I P & GS Unit
Jeevan Prakash
Post Box No 6694.
J C Road Bangalore.
City: Bangalore
Branch Code: G501


ULIP Centre, D.O, Bangalore-II
City: Bangalore
Branch Code: U036


ULIP Centre, D.O, Bangalore
City: Bangalore
State: Karnataka
Branch Code: U061

LIC - Jeevan Ankur

Sovereign guarantee for all policies issued by LIC will continue

Source : ET Bureau Jul 27, 2011,

NEW DELHI: Sovereign guarantee for all policies issued by Life Insurance Corporation (LIC) will continue, a government official said, allaying fears of millions of clients of the country's largest life insurer.

The government has decided to drop a clause from the Life Insurance Corporation (Amendment) Bill 2009 that suggested limits on the sovereign guarantee available to the country's largest life insurer.

"It has been decided to continue with government guarantee to LIC," the official told ET.

The government has also decided to retain a clause that allows the insurer to regulate the terms and conditions of its agents and the recruitment procedure for employees and agents. The provision gives the insurer powers to decide on the commission benefits of over 14 lakh agents.

LIC Jeevan Anand Plan and advantages

Jeevan Anand Features

Jeevan Anand is one of the popular plan from LIC (Life Insurance Corporation.).

LIC's Jeevan Anand is a With Profit assurance plan.

The plan is a combination of the Whole Life Plan and the most popular Endowment Assurance Plan.

Jeevan Anand Policy provides pre-decided Sum Assured and bonuses at the end of the stipulated premium paying term, but the risk cover on the life continues till death.


Salient Features

Under the plan, premiums are limited to the term chosen and benefits are payable on the date of maturity. But the insurance cover on the life assured continues till death, like a whole life policy.

Bonus accrues during the premium paying term and is payable at the end of the premium paying term or on earlier death along with Final Additional Bonus.

No Bonus is paid on death after the premium paying term.

Double Accident Benefit is available during the premium paying term and thereafter up to age 70 where in additional sum assured is payable on death due to an accident. This benefit is built in and no additional premium needs to be paid.

Loans will be granted against the surrender value of the policy after payment of premiums for at least 3 years.

Interest on such loans will be fixed by the corporation from time to time.



Benefits


Survival Benefits:
Sum Assured along with all vested bonuses payable at the end of the premium paying term (Endowment term).

Accident Benefit:
The Double Accident benefit is available during the premium paying term and thereafter up to age 70. The premium for this has been built into the tabular premium rates. Maximum accident cover available under this plan will be Rs. 5 lakh (this limit excludes accident benefit taken under other plans).

Premium Stoppage:
If payment of premiums ceases after at least three years? premiums have been paid , a free paid-up policy for a reduced Sum Assured will be automatically secured provided the reduced sum assured, exclusive of any attached bonus, is not less than Rs. 250/-. The reduced sum assured will become payable on the event as stipulated in the policy.

Bonus:
If it is a With Profits Policy note that every year the LIC distributes its surplus among policyholder to with profits polices in the form of bonuses. Substantial bonuses have been declared in the past after each valuation of policy liabilities.

Death Benefits:
Sum Assured along with vested bonuses are payable on death during the premium paying term and when policy ceases. An amount equal to the Sum Assured is payable if death occurs after the premium paying term. Simple Reversionary Bonus accrues during the premium paying term and is payable at the end of the premium paying term or on earlier death along with final additional bonus, if any. No Bonus is paid on death after the premium paying term.

Suitable for:
Being an endowment assurance + whole life policy, this plan is apt for people of all ages and social groups who wish to protect their families from a financial setback that may occur owing to their demise. The amount assured if not paid by reason of his death earlier will payable at the end of the endowment term where it can be invested in an annuity provision for the rest of the policyholders life or in any other way he may think most suitable at that time. Most ideal if you want to ensure Permanent family financial protection + enjoy the fruits of your savings yourself on outliving the PPT you have chosen .

Conclusion:


Jeevan Anand offer the double benefit of Endowment as well as whole life plan with little extra premium and plan is worth taking for those who wants the benefit of both Endowment as well as Whole Life.
Features Jeevan Anand is one of the popular plan from LIC (Life Insurance Corporation.).

LIC's Jeevan Anand is a With Profit assurance plan.

The plan is a combination of the Whole Life Plan and the most popular Endowment Assurance Plan.

Jeevan Anand Policy provides pre-decided Sum Assured and bonuses at the end of the stipulated premium paying term, but the risk cover on the life continues till death.




For free quotations and plan details pls call at 9480240513 or send mail to support@licbangaloreonline.com

L.I.C’s Jeevan Nischay (Plan No. 199)

L.I.C’s Jeevan Nischay (Plan No. 199) Launched

Life Insurance Corporation of India, launched a new close ended plan named, “L.I.C’s Jeevan Nischay”. Jeevan Nischay (Plan No. 199) being a close ended plan, will be open for sale from 29th October, 2009 till 31st March 2010 and will be offered only to the existing policy holders of L.I.C only.

L.I.C’s Jeevan Nischay is a single premium assurance plan with Loyalty Addition. This plan will be offered without any medical examination, only to the existing policyholders of the Corporation whose previous policies have been accepted at standard rates and have at least one policy in force. Further, the policy holders who have only an annuity or pension plan without risk cover shall not be eligible for this plan.

BENEFITS:

a) Death Benefits

On death during first policy year: 5 times single premium excluding extra premium if any.

On death during the policy term after the first policy year: Maturity Sum Assured.

On death during last policy year: Maturity Sum Assured with Loyalty Addition.

b) Maturity Benefits:

On maturity the Maturity Sum Assured with Loyalty Addition will be payable.

ELIGIBILITY CONDITIONS:

Age Limits: 18yrs to 50yrs of age.

Minimum Single Premium: Rs 10,000/-

Maximum Single Premium: Rs 10,00,000/-

Policy Term: 5, 7 and 10 years

SURRENDER VALUE:

Guaranteed Surrender Value will be available under this plan, after completion of one year of policy.

LOAN:

Loan facility is available under this plan after completion of one policy year.

To avail this plan, Call us at 9480240513 ( Bangalore )

JEEVAN AASTHA

This new plan of LIC (Jeevan Aastha) although provide gtd. returns but plz. note the NET Yield is variable for different age person due to difference in prem. paid for the same amount of cover.

Some info for this policy is given below.
Minimum Sum assured = 150000 & can be purchsed in multiples of 30000
Max. Sum assured = No limit
Prem. type = single prem. only
Type of policy = Traditional endowment policy with gtd. return
Minimum entry age = 13 years (nearest birth day)
Max. entry age = 60 years (nearest birth day)
Policy term = 5 years or 10 years
in First policy year the SA = 6 times of Single prem. paid (appx.)
From 2nd year onwards SA = 2 times of single prem. paid (appx.)
Maturity SA = 1/6th of original SA
GTD. addition per year = 100 Rs. for per 000 maturity SA for 10Y plan & 90 Rs. for 5 year plan
Loan & surrender value = after completion of 1st policy year

Sample benefit illustration for a 35year normal healthy male stamdard life.
Age of life assured = 35 years
SA = 300000
Maturity SA = 1/6 of Initial SA = 50000
Single prem. = 48975
Term of policy = 10 years
In case of death during 1st policy year claim amount = Initial SA + GTD addition = 300000 + 5000 (@ 100 Rs. per 000 maturity SA for 50,000 maturity SA)
In case of death during 2nd to 10th year claim amount = 100000 (reduced SA) + GTD. addition of 5000 Rs. per year
Maturity amount after 10 years = 50000 (maturity SA) + 50000 (gtd. addition) + 10000 (lyality addition if any, not gtd.) = 110000 Rs.

jeevan aastha

Life Insurance Corporation of India (LIC) on Monday launched Jeevan Aastha, a single premium life insurance product with guaranteed benefits on maturity and death.

LIC zonal manager (south central zone) DD Singh said the scheme would be offered with five and ten-year terms giving a guaranteed ten per cent and nine per cent per annum of maturity sum respectively. While the minimum age for entry will be 13, the maximum is 60.

The minimum basic sum assured will be Rs 1.5 lakh. In the first year, the risk coverage will be six times the maturity sum assured along with the guaranteed returns while it will be double the maturity amount after one year.

The premium paid and returns from the product will be exempted from tax.

Singh said LIC was expecting Rs 3,500 crore from the new product from Andhra Pradesh and Karnataka zones. The scheme closes on January 21.

LIC OF INDIA

No claim without Helmet and Driving Licence

Simplified Claim Settlement Process for Claims arising out of Terrorist Attack in Mumbai

LIC offers heartfelt condolences to all the people affected by Terrorist attack in Mumbai on 26th & 27th November, 2008. In these difficult times, LIC stands by you.

Simplified Claim Settlement Process:
No claim investigation will be conducted.
Double Accident Benefit/Disability Benefit is payable wherever applicable.
Any evidence in Government/Municipal record showing death due to Terrorist attack in Mumbai will be accepted as proof of death.
Police reports, Post Mortem report will also be accepted as evidence of death if original death certificate is not available
For further queries Please contact our INFO Center on 022-1251 OR 022-26134584(from 8.00 AM to 8.00 PM)

Personal Income tax Assesment year 2009-10

Taxable income slab (Rs.)                                              Rate (%)

Up to 1,50,000 NIL

Up to 1,80,000 (for women) NIL

Up to 2,25,000 (for resident individual of 65 years or above)                            NIL

                                                         1,50,001 – 3,00,000                                   10

                                                         3,00,001 – 5,00,000                                   20

                                                         5,00,001 upwards                                   30*

*A surcharge of 10 per cent of the total tax liability is applicable where the total income exceeds Rs 1,000,000.

Note : -

Education cess is applicable @ 3 per cent on income tax, inclusive of surcharge if there is any.

A marginal relief may be provided to ensure that the additional IT payable, including surcharge, on excess of income over Rs 1,000,000 is limited to an amount by which the income is more than this mentioned amount.

Agricultural income is exempt from income-tax.

Life Insurance Corporation of India proposes to bring out its credit card

Life Insurance Corporation of India  has decided to form a separate wholly owned company “LIC Cards Services Limited” to manage all aspects of  its credit card venture. Life Insurance Corporation of India has been permitted by Government of India to form a wholly owned company for this purpose.

In line with the corporate vision to emerge as a trans-nationally competitive financial institution, LIC has been planning to bring out its credit card to leverage its large customer base, strong brand and wide distribution network and to provide value added service to its customers.

LIC has celebrated its 52nd anniversary in September and aims to strengthen its relationship with its vast customer base by providing various value-added services such as credit cards. Through this new Company, LIC aims to offer premium-payment facility to policyholders with their own credit card. Not only will this provide added convenience and service to LIC customers, it will bring down transaction costs for LIC.

LIC Cards Services Limited, the  wholly owned subsidiary of LIC,  would leverage LIC and Corporation Bank's strong brand and extensive branch, ATM, and sales distribution network.

For more visit http://www.indiainfoline.com/news/innernews.asp?storyId=82669&lmn=1

LIC's micro finance

India’s largest government owned life insurance company, Life Insurance Corporation of India (LIC), set a new target of selling 4 million micro insurance policies this year. In a speech given at the SKOCH Banking, Financial Services and Insurance Summit, LIC Chairman TS Vijayan said that two years ago, the corporation had sold 0.8 million micro insurance policies and this year, planned to increase its sales five fold.

Life Insurance Corporation of India (LIC) has generated Rs 16,600-crore valuation surplus, or profit, in 2007-08, a 10 per cent rise o

ver 2006-07 figures, sources familiar with the development said.

A formal announcement is expected soon. Of this, the insurance behemoth will pay 5 per cent, or Rs 830 crore, to the government as dividend and will distribute the balance among its policy-holders as bonus.

In the previous year, the dividend was Rs 760 crore. Private insurers pay 10 per cent of their valuation surplus to shareholders. Though LIC is yet to arrive at a figure regarding the bonus, “It will not be less than last year’s,” a source said.

In 2006-07, LIC had declared a bonus of Rs 70 rupees per Rs 1,000 sum assured. In 2007-08, LIC’s solvency margin has also increased to 152 per cent or Rs 42,250 crore as compared with 150 per cent in the previous financial year.

New business premium stood at around Rs 58,000 crore. LIC is aiming for a 30 per cent increase in its new business premium in 2008-09.

Top 5 Private Life Insurance Companies in India

Top 5 Life Insurance Companies in India at the end of April-2008 are:

ICICI Prudential Life - 22.1%
Bajaj Allianz - 13.8%
SBI Life - 9.8%
Reliance Life - 8%
Max New York - 8%

Top 5 Gaines in Life Insurance Business in a Year:
Reliance Life +3.9% gain in total private life insurance market share
Birla Sunlife +3.3% gain in total private life insurance market share
Met Life +2.8% gain in total private life insurance market share
Aviva +2% gain in total private life insurance market share
SBI Life +1.7% gain in total private life insurance market share

Top Losers in Life Insurance Business in a Year:
ICICI Prudential Life - 8.3% loss in total private life insurance market share
Bajaj Allianz - 2.4% loss in total private life insurance market share
HDFC Standard Life - 1.2% loss in total private life insurance market share

ICICI Bank is financially strong

State Bank Of India is India’s largest Bank. Just on its heel is ICICI Bank, India's second largest Bank. Recently, there has been a lot of rumor about ICICI Bank suffering due to its severe losses. In the past one year thanks to the after effects of sub prime effect and loss faced by their Derivatives department, ICICI Bank has been the talk of the town. The fact that they curtailed bonus this year and freezed recruitment, added fuel to the fire.ICICI Bank has declared that they are extremely healthy and have adequate capital This was declared by their  chief executive on Friday in order  try to allay fears about the bank's exposure to the global credit turmoil. ICICI Bank Has gone one step further and had made a  public disclosure of its exposure and has also analyzed the impact of this exposure on its Balance Sheet. Mr K V Kamath, has declared that the exposure is minimal and its impact on profit and balance sheets, is negligible.

ICICI Bank that has just lost its position to State Bank of India and insists that people are spreading malicious rumors to tarnish the reputation of ICICI Bank and create panic. Time and again in various television interviews, ICICI Bank has publicly declared that the impact of holding Lehman Brothers assets is less than 0.1% on their profit and balance sheet. They have made various public appearances in various television channels and newspapers reiterating the fact time and again.

 

This is what K V Kamath had to say:

"I just want to reiterate ICICI Bank is an extremely healthy institution," he said. "We literally doubled our capital last year. It is sitting with us." The bank has a net worth of Rs 47000 crore ($10.2 billion), he said. ICICI shares fell more than 22% in the seven sessions ended Wednesday on concerns about its exposure to the global financial crisis system could hurt it. The stock hit a two-month low on Thursday before recovering to end the day up 2.8%. 

On Friday, the shares had risen another 6.5% to Rs 613 in a Mumbai market that was up 4.6%. "Indian banks are in a different position, and indeed ICICI Bank, being an Indian bank with limited exposure to the global market place, a strong balance sheet and a strong capital adequacy position, is different from a global bank," 

Again in throe endeavor to prove themselves sound and rubbish away the rumors doing round, ICICI's joint managing director, Chanda Kochhar, on Thursday gave an interview in an television channel stating that the bank's total exposure to foreign markets was equal to about 4% of its total balance sheet and bank could still post healthy profits and maintain capital adequacy.

 

In order to make their picture clear in front of their investors and remove all doubts and rumors going round in the market- ICICI bank declared its holding in Lehman Brothers on its website www.icicibank.com.The first of its kind of step from any financial institution in India

Insurance Companies in India

In India there are around 21 Insurance companies providing Life cover.

They are :

1)Bajaj Allianz Life Insurance 
2)Birla Sun Life Insurance 
3)HDFC Standard Life Insurance 
4)ICICI Prudential Life Insurance 
5)ING Vysya Life Insurance 
6)Life Insurance Corporation of India 
7)Max New York Life Insurance 
8)Met Life India Insurance 
9)Kotak Mahindra Old Mutual Life Insurance 
10)SBI Life Insurance 
11)Tata AIG Life Insurance 
12)Reliance Life Insurance 
13)Aviva Life Insurance 
14)Sahara India Life Insurance 
15)Shriram Life Insurance 
16)Bharti AXA Life Insurance
17)Future Generali India Life Insurance 
18)IDBI Fortis Life Insurance
19)Canara HSBC Oriental Bank of Commerce Life Insurance 
20)AEGON Religare Life Insurance 
21)DLF Pramerica Life Insurance