Professional Documents
Culture Documents
REPORT
ON
CUSTOMERS
SATISFACTION IN
(SATISFACTION OF CUSTOMERS
WITH THE SERVICES OF THE LIFE
INSURANCE INDUSTRY IN INDIA
WITH SPECIAL REFERENCE OF LIC)
P RE F AC E
ACKNO WLEDGEMENT
We are hearty grateful to Mr.
………………………….sir
(director). They have always been an invaluable
source of inspiration had work, sincerity and
dedication.
It gives me immense pleasure in submitting this
project on “Life Insurance Corporation of India”.
I
have developed this project in partial fulfillment
of
b.b.a 6th sem from ‘sarswati institute of
management and technology
I would like to express my sincere ineptness to
my
Project Guide mrs preeti ma,am for his
constant guidance and valuable support during
the
project work. Encouragement and excellent
guidance
in the successful completion of the project
work.
And of course nothing could have come true
without
the support of my family, friends and all the
classmates for their constant encouragement
and
useful tips through out my project. I will always
grateful to them.
Student name-
Contents
Chapter 1- introduction
And objective
Chapter 2-industry profile
Chapter 3-company profile
Chapter 4-subject matter
Introduction of
topic
Research
methodology
Chapter 5- dat analysis and
interpretation
Chapter 6-conclusion
Cchapter7-recommentation
Chapter8- bibliography
Chapter
1
INTRODUCTION
INTRODUCTION
LIFE INSURANCE IN INDIA
Life insurance in India made its debut well over 100 years ago.
In our country, which is one of the most populated in the world, the
prominence of
insurance is not as widely understood, as it ought to be. What follows is an
attempt to acquaint readers with some of the concepts of life insurance, with
special reference to LIC
It should, however, be clearly understood that the following content is by no
means an exhaustive description of the terms and conditions of an LIC policy
or
Its benefits or privileges.
For more details, please contact our branch or divisional office. Any LIC
Agent
will be glad to help you choose the life insurance plan to meet your needs
and
render policy servicing.
What Is Life Insurance?
Among other things, the contract also provides for the payment of premium
periodically to the Corporation by the policyholder. Life insurance is
universally
acknowledged to be an institution, which eliminates 'risk', substituting
certainty
for uncertainty and comes to the timely aid of the family in the unfortunate
event
of death of the breadwinner. By and large, life insurance is civilization’s
partial
solution to the problems caused by death. Life insurance, in short, is
concerned
with two hazards that stand across the life-path of every person:
1. That of dying prematurely leaving a dependent family to fend for itself.
2. That of living till old age without visible means of support.
The Insurance behemoth is planning to tie-up with a number of banks to enable a payment
gateway wherein the policyholders can make their premium payments via credit cards.
LIC is planning to start a new portal for its policyholders where a customer can log in, get details
on his/her policies, change the resident address when he/she shifts to a new place and even take
a printout of the income tax certificate. The portal is likely to be ready in a month’s time.
Besides, it has already started work on allotment of customer folio number to know each
customer's holding.
“The allotment of customer folio number for all our holders will still take a year’s time in this
zone,” H Nanda, regional manager, information technology, LIC (south-central zone), said.
“The electronic clearance system that we have launched at Hyderabad, Bangalore, Vijayawada
and Visakhapatnam, has been doing very well. Here the customer’s premium is automatically
debited from his account at the time of payment,” he added. Shortly, the zone will also see the
launch of this system in Mysore, Mangalore and Hubli.
“This month, we will also be setting up five satellite branches in the zone, with two being in
Hyderabad and three in Bangalore,” A K Sahoo, regional manager (marketing), LIC (south-central
zone), said at a press conference organised on the occasion of the beginning of the golden
jubilee year for LIC.
Regarding the recently launched Bima Gold policy, a money-back policy with premium payment
options, the corporation plans to sell 15 lakh policies this year in the south central zone with the
national figure being one crore.
LIC also plans to launch three-four products this year with one of these being unit-linked
insurance plan in October. As on August 31, 2005, the zone has issued 12,47,795 policies under
new business.
OBJECTIVES OF THE STUDY
Chapter 2
Industry
profile
Industry profile
ABOUT THE ORGANIZATION
Life Insurance in its modern form came to India from England in the
year
1818. Oriental Life Insurance Company stated by Europeans in
Calcutta was the first
life insurance company on Indian Soil. All the insurance companies
established
during that period were brought up with the purpose of looking
after the needs of
European community and Indian natives were not being insured by
these companies.
However, later with the efforts of eminent people like Babu Muttylal
Seal, the foreign
life insurance companies started insuring Indian lives. But Indian
lives were being
treated as sub-standard lives and heavy extra premiums were being
changed on them.
Bombay Mutual Life Assurance Society heralded the birth of first
Indian life
insurance company in the year 1870, and covered Indian lives at
normal rates.
Starting as Indian enterprise with highly patriotic motives,
insurance companies came
tito existence to carry the message of insurance and social security
through insurance
to various sectors of society. Bharat Insurance Company (1896) was
also one of such
companies inspired by natioalism. the Swadeshi movement of 1905-
1907 gavwe rise
to more insurance companies. The United India in Madras, National
Indian and
National Insurance in Calcutta and the Hindustan Co-operative
Insurance Company
took its birth in one of the rooms of the Jorasanko, house of the
great poet
Rabindranath Tagore, in Calcutta. The Indian Mercantile, General
Assurance and
Swadeshi Life (later Bombay Life) were some of the companies
established during
the same period. Prior to 1912. India had no legislation to regulate
insurance business.
In the year 1912, the Life Insurance Companies Act, and the
Provident Fund Act were
passed. The Life Insurance Companies Act, 1912 made it necessary
that the premium
rate tables and periodical valuations of companies should be
certified by an actuary.
But the act discriminated between foreign and Indian companies on
many accounts,
putting the Indian companies at a disadvantage.
The first two decades of the twentieth century saw lot of growth in
insurance
business. From 44 companies with total business-in force as Rs.
22.44 crore, it rose to
176 companies with total business-in-force as Rs. 298 crore in 1938.
During the
mushrooming of insurance companies many financially unsound
concerns were also
floated which failed miserably. The Insurance Act 1938 was the first
legislation
governing not only life insurance but also non-life insurance to
provide strict state
control over insurance business. The demand for nationalization of
life insurance
industry was made repeatedly in the past but it gathered
momentum in 1944 when a
bill to amend the Life Insurance Act 1938 was introduced in the
Legislative
Assembly. However, it was much later on the 19th of January, 1956,
that life insurance
in India was nationalized. About 154 Indian insurance companies, 16
non-Indian
companies and 75 provident were operating in India at the time of
nationalization,
nationalization was accomplished in two stages; initially the
management of the
companies was taken over by means of an Ordinance, and later, the
ownership too by
means of a comprehensive bill. The Parliament of India passed the
Life Insurance
Corporation Act on the 19th of June 1956, and the Life Insurance
Corporation of India
was created on 1st September, 1956, with the objective of spreading
life insurance
much more widely and in particular to the rural areas with a view to
reach all
insurable persons in the country, providing them adequate financial
cover at a
reasonable cost.
LIC had 5 zonal offices, 33 divisional offices and 212 branch offices,
apart
from its corporate office in the year 1956. Since life insurance
contracts are long term
contracts and during the currency of the policy it requires a variety
of services need
was felt in the later years to expand the operations and place a
branch office at each
district headquarter, re-organization of LIC took place and large
numbers of new
branch offices were opened. As a result of re-organization servicing
functions were
transferred to the branches, and branches were made accounting
units. It worked
wonders with the performance of the corporation. It may be seen
that from about
200.00 crores of New Business in 1957 the corporation crossed
1000.00 crores only in
the year 1969-70, and it took another 10 years for LIC to cross
2000.00 crore mark of
new business. But with re-organization happening in the early
eighties, by 1985-86
LIC had already crossed 7000.00 crore Sum Assured on new policies.
Today LIC functions with 2048 fully computerized branch offices,
100
divisional offices, 7 zonal offices and the corporate office. LIC’s
Wide Area Network
covers 100 divisional offices and connects all the branches through
a Metro Area
Network. LIC has tied up with some Banks and Service providers to
offer on-lint
premium collection facility in selected cities. LIC’s ECS and ATM
premium payment
facility is an addition to customer convenience. Apart from on-line
Kiosks and IVRS,
Info Centres have been commissioned at Mumbai, Ahmedabad,
Bangalore, Chennai,
Hyderabad, Kolkata, New Delhi, Pune and many other cities. With a
vision of
providing easy access to its policyholders, LIC has launched its
SATELLITE
SAMPARK offices. The satellite offices are smaller, leaner and closer
to the
customer. The digitalized records of the satellite offices will
facilitate anywhere
servicing and many other conveniences in the future.
LIC continues to be the dominant life insurer even in theliberalized
scenario of
Indian insurance and is moving fast on a new growth trajectory
surpassing its own
past records. LIC has issued over one crore policies during the
current year. It has
crossed the milestone of issuing 1,01,32,955 new policies by 15th
Oct, 2005, posting a
healthy growth rate of 16.67% over the corresponding period of the
previous year.
From then to now, LIC ha crossed many milestones and has set
unprecedented
performance records in various aspects of life insurance business.
The same motives
which inspired our forefathers to bring insurance into existence in
this country inspire
us at LIC to take this message of protection to light the lamps of
security in as many
homes as possible and to help the people in providing security to
their families.
MISSION/VISION
Mission
“Explore and enhance the quality of life of people through financial
security by
providing products and services of aspired attributes with
competitive returns, and
by rendering resources for economic development.”
Vision
“A trans-nationally competitive financial conglomerate of
significance to societies
and Pride of India.”
LIC of India is the one and only public sector life insurance Company
in India.
Some of the important milestones in the life insurance business in
India are:
1818: Oriental Life Insurance Company, the first life insurance
company on Indian
soil started functioning.
1870: Bombay Mutual Life Assurance Society, the first Indian life
insurance company
started its business.
1912: The Indian Life Assurance Companies Act enacted as the first
statute to
regulate the life insurance business.
1928: The Indian Insurance Companies Act enacted to enable the
government to
collect statistical information about both life and non-life insurance
businesses.
1938: Earlier legislation consolidated and amended to by the
Insurance Act with the
objective of protecting the interests of the insuring public.
1956: 245 Indian and foreign insurers and provident societies are
taken over by the
central government and nationalised. LIC formed by an Act of
Parliament, viz. LIC
Act, 1956, with a capital contribution of Rs. 5 crore from the
Government of India.
The General insurance business in India, on the other hand, can
trace its roots to the
Triton Insurance Company Ltd., the first general insurance company
established in
the year 1850 in Calcutta by the British.
Chapter 3
Company profile
Company profile
(Managing Directors)
Parent: NIL
Website: http://www.licindia.com
Products of LIC
LIC - Jeevan Anurag
Benefits
AssuredBenefit
Death Benefit
Payment of an amount equal to Sum Assured under the basic plan immediately
on the death of the life assured.
Product summary:
This is an Endowment Assurance Plan available for
children of less than 12 years of age. The policy may be
purchased by any of the parent/grand parent.
Premiums:
Premiums are payable yearly, half-yearly, quarterly or
monthly throughout the term of the policy or till earlier
death of child.
Bonuses:
This is a with-profits plan and participates in the profits
of the Corporation’s life insurance business. It gets a
share of the profits in the form of bonuses. Simple
Reversionary Bonuses are declared per thousand Sum
Assured annually at the end of each financial year. Once
declared, they form part of the guaranteed benefits of
the plan. A Final (Additional) Bonus may also be payable
provided policy has run for certain minimum period.
Introduction:
This plan is specially designed to meet the increasing
educational and other needs of growing children. It
provides the risk cover on the life of child not only during
the policy term but also during the extended term (i.e. 7
years after the expiry of policy term). A number of
Survival benefits are payable on surviving by the life
assured to the end of the specified durations.
Options:
You may choose Sum Assured (S.A.), Maturity Age, Policy Term, Mode of
Premium payment and Premium Waiver Benefit.
Payment of Premiums:
You may pay the premiums regularly at yearly, half-yearly, quarterly or
through Salary deductions over the term of policy. Premiums may be paid either
for 6 years or up to 5 years before the policy term.
Product summary:
This is an Endowment Assurance plan that provides
financial protection against death throughout the term of
the plan. Besides payment of Sum Assured immediately
on death, one-fourth of Sum Assured is payable at the
end of each of last four years of policy term whether the
life assured dies or survives the term of the policy.
Premiums:
Premiums are payable yearly, half-yearly, quarterly,
monthly or through salary deductions as opted by you
throughout the term of the policy or till the earlier death.
Options:
You may choose Sum Assured (S.A.), Maturity Age, Policy Term, Mode of
Premium payment and Premium Waiver Benefit.
Payment of Premiums:
You may pay the premiums regularly at yearly, half-yearly, quarterly or
through Salary deductions over the term of policy. Premiums may be paid either
for 6 years or up to 5 years before the policy term.
Product summary:
This is an Endowment Assurance plan offering the choice
of many convenient premium-paying terms. It provides
financial protection against death throughout the term of
plan with the payment of maturity amount on survival to
the end of the policy term.
Premiums:
Premiums are payable yearly, half-yearly, quarterly, monthly or through Salary
deductions, as opted by you, throughout the premium paying term or till earlier
death. Alternatively premium may be paid in one lump sum.
Guaranteed Additions:
The policy provides for the Guaranteed Additions at the rate of Rs. 50/- per
thousand Sum Assured for each completed year for first five years of the policy.
This plan is mainly devised to create an estate for the heirs of the
policyholder as the plan basically provides for payment of sum
assured plus bonuses on the death of the policyholder. However,
considering the increased longevity of the Indian population, the
Corporation has amended the above provision, thereby providing
for payment of sum assured plus bonuses in the form of maturity
claim on completion of age 80 years or on expiry of term of 40
years from date of commencement of the policy whichever is later.
The premiums under the policy are payable up to age 80 years of
the policyholder or for a term of 35 years whichever is later.
If the payment of premium ceases after 3 years, a paid-up policy
for such reduced sum assured will be automatically secured
provided the reduced sum assured exclusive of any attached bonus
is not less than Rs.250/-. Such reduced paid-up policy is not
entitled to participate in the bonus declared thereafter but the
bonuses already declared on the policy will remain attach, provided
the policy is converted in to a paid-up policy after the premiums
are paid for 5 years.
On Maturity: Nil
RESTRICTIVE CONDITIONS
Chairman
Managing Director
Executives Directors
Chiefs
Zonal Managers
Regional Managers
Divisional Managers
Marketing Managers
Sales Managers
Development Officers
Different Agent
PUBLIC RELATION DEPARTMENT
1. Communication Department
2. Crisis Management Department
3. Publicity Department
PRO (Publicity
Dept.)
CHAIRMAN OF LIC
PUBLIC
RELATIONS
COMMUNICATION DEPARMENT
PUBLICITY
DEPARMENT
CRISIS MANAGEMENT DEPATMENT
COMMUNICATION DEPARTMENT
The PRO of this Department is an external PR.
He looks after:-
• Arranging press conferences, press releases and is in constant contact
with the media.
• He is also responsible for monitoring the overseas communications.
• The Communication Department PRO has to make arrangements for the
guests and their overall honors. The conversations with the guests are
directly done by the Communication Department PRO.
• The PRO from this department should always keep a close eye on the
latest happenings in the market. Any social issue at any area is a news to
be worked out for him.
• He reports directly to the Chief PRO of the company.
• The Press conference usually includes the CEO of the company, the Chief
PRO and the Communication Dept. PRO.
• If the case is of crisis, then only is the Crisis management Dept PRO
present for the Press conference.
• Since LIC is closely related with the Public Sector, the Communication
Dept. PRO has to also be in a close contact with the government officials.
• He also has to motivate the employees in his department for constant
progress in the strategies for communication.
In short, the communication Department PRO ensures that there is no
communication gap between the company and the external concerned
bodies.
(recent press releases of LIC issued by Communication Department PRO
enclosed)….
PUBLICITY DEPARTMENT
The PRO of the publicity Department is an External PR.
This department was formed due to the fall of sales in the 1999. This fall was
due
to the emergence of the foreign insurance companies and their advertising
strategies. Initially, the ads shown by LIC always said “no worry even after
death”. All the ads portrayed death. The other insurance companies came up
with the idea that insurance is for happy life. Thus the sales of LIC went
down as
people liked the idea of Life more than Death.
Hence a separate publicity department was formed which worked only for
publicity strategies. Initially it was looked up by the Communication
Department.
Today the publicity department PRO has to see to it that all the ads running
are
creating effect. The PRO is the one who along with the Marketing
department
looks after the strategies for publicity. He is also to carry out various
campaigns.
The very recent campaign is known as “Zindagi Express”.
The Zindagi Express is a term that has been associated to the life of LIC.
Just as humans celebrate their 50 years of life, even LIC is celebrating its life.
and when any person has done a lot in his life, he is capable of writing an
Autobiography. Thus Zindagi Express is an Autobiography by LIC.
They had started this unique campaign of auto biography from Delhi and
will cover the entire nation and end up in Delhi again. During this journey
they
explain what all LIC has done for publics and what all it still intends to do
STRENGTHS
• LIC is on 1st rank among the Insurance player.
• Long-term plans of LIC are the main strength.
• After sales services.
• Products cost are very low.
• Customer does not believe on private company.
WEEKNESS
OPPORTUNITIES
• Good brand promotion.
• 1/2nd- % insurance has been covered.
THREATS
• Competitors.
• Entry of Private Insurance banks..
Chapter
4
Subject
matter
Introduction of
topic
Research
methodology
Subject matter
Introduction of topic
Why is it important?
A fellow SitePointer once told me that you can hear a smile through
the phone. This is very true. It's very important to be friendly,
courteous and to make your clients feel like you're their friend and
you're there to help them out. There will be times when you want to
beat your clients over the head repeatedly with a blunt object - it
happens to all of us. It's vital that you keep a clear head, respond to
your clients' wishes as best you can, and at all times remain polite
and courteous.
This may not be too important when you're just starting out, but a
clearly defined customer service policy is going to save you a lot of
time and effort in the long run. If a customer has a problem, what
should they do? If the first option doesn't work, then what? Should
they contact different people for billing and technical enquiries? If
they're not satisfied with any aspect of your customer service, who
should they tell?
There's nothing more annoying for a client than being passed from
person to person, or not knowing who to turn to. Making sure they
know exactly what to do at each stage of their enquiry should be of
utmost importance. So make sure your customer service policy is
present on your site -- and anywhere else it may be useful.
6. Anticipate Your Client's Needs & Go Out Of Your Way to Help Them Out
"Hi, you mentioned a hard-copy brochure you were working on and I wanted to provide you
with large-scale copies of the graphics I've used on the site. Hopefully you'll be able to
make use of some in your brochure."
It's possible this is the most important point in this article. The
simple message: when you promise something, deliver. The most
common example here is project delivery dates.
Conclusion
DATA
ANALYSIS
AND
INTERPRETATI
ON
CUSTOMERS RELATIONSHIP
DEPARTMENTS
LIC HDFC ICICI OTHRS
40% 30% 20% 10%
(IN LIC CRM DEAPARMENTS MOST TO SATISFIED THE
CUSTOMERS)
PUBLIC RELATIONS
LIC HDFC ICICI OTHRS
40% 30% 20% 10%
IN LIC MOSTLY CENCENTRATE
ON PUBLIC RELATIONS
Project Analysis
The Positive side of LIC as well as Negative side of LIC. I
encourage other readers to correct me if I am wrong and
also add
light to any point that I may have missed.
First let’s talk about the Positive side of LIC
1. LIC is owned by the government and therefore it is the
only
company besides the PPF that has the sovereign
guarantee of the
govt. of India. It is a different story that today LIC has
become so
powerful that the govt. leans on LIC every time that the
Stock
Market crashes. Imagine having an Asset base of over Rs
6 Lac
Crore. . That’s a 14 digit number! No company in India can
boast
of such figures. Mind boggling.
2. LIC is the only Life Insurance Company making profits.
Most of
the Private Insurers including the self proclaimed market
leaders
like ICICI and Bajaj Allianz are booking heavy losses.
Check IRDA
website in the Annual Report column. The point is that if
an
insurance company makes losses year over year, then how
will
they manage to pay the Claim amount? Afterall no
Insurance
company is here to do charity business.
3. When it comes to paying claims, again LIC is Number
One with
the claims settlement ratio of more than 99%. Private
Insurers
cannot match LIC’s ability on claims settlement. Again,
please visit
IrDA’s website to see the claims settlement performance
of various
companies.
4. LIC has the world’s largest sales force, yes over 10 lac
agents
and now universities in western countries are trying to
study how a
company managed to appoint such a large sales force. A
sales
force of over 1 million! Truly a remarkable achievement.
5. Many people argue that LIC has not been able to
penetrate the
market as it has insured only 15% of the population. My
point is, in
a poor country like India where there are so many people
living
below the poverty line, so many people who die of
starvation, so
many people who don’t have access to basic medication,
so many
people who don’t have basic necessities of life like food,
shelter,
education and clothing. Will such a person first feed his
children or
buy Insurance ? Lets not forget that a majority of the
Indian
population is poor and a substantial percentage is living
below the
poverty line. At a personal level i feel that LIC has done a
satisfactory job of insuring people.
Chapter 7
Recommendations and
Suggestions
Recommendations
TO CONVERT ALL NEGATIVE
POINT IN POSITIVE TO SIT IN
FIRST LEVEL IN INSURANCE
AREAS FOREVER AND IMPROVE
Q.D.C
Due to these reasons and lot more, LIC should be your obvious
choice for all
your life insurance requirements.
LIC is India’s most trusted brand, INSURING LIVES AND ENSURING
SMILES
from more than 50 Years.
SUPER BRAND & MOST TRUSTED SERVICE BRAND OF INDIA. BEST IT
USER IN INDIA (NASSCOM – 2003).
Largest Institutional Investor in India and Second largest in Asia
among insurers.
(Source: Asian Investor)
LIC - An Institution Builder promoting many financial and insurance
institutes like
NSE, NCDEX, LIC Mutual Fund, Stock Holding Corporation of India,
National
Insurance Academy, Insurance Institute of India etc.
LIC is the largest life insurer of India
Asset value as on 31.3.2004: 3,673,598.4 mn (INR).
Offers over 45 plans to cover your life at various stages
Over 160 million customers and 1.1 million agents. It has
underwritten more than 160
million policies.
2,048 branch offices (all computerized) of which 2019 are
networked
”From all above we can say our money is safe and secure with
assured returns.”
Finding
Product offered to customer
Children's Policy
Komal Jeevan - Plan No. 159
Children Deferred - Plan no.41
Jeevan Kishore - Plan no.102
Jeevan Chhaya - Plan no.103
Marriage Endowment/Educational Annuity - Plan No. 90
Jeevan Anurag - Plan no.168
Endowment Policy
Endowment with Profits - Plan no.14 Limited Payment Endowment
with
Profits - Plan no.48
Jeevan Mitra - Plan no.88
New JanaRaksha Policy - Plan no.91
Jeevan Anand Plan no. 149
Jeevan Mitra Triple Cover - Plan no.133
Group Insurance Policy
Janashree Bima Yojana
Group Insurance Scheme in lieu of EDLI
Group (Term) Insurance Scheme
Group Savings Linked Insurance Scheme
Group Superannuation Scheme
Group Mortgage Redemption Assurance Scheme
Joint Life Policy
Jeevan Saathi - Plan no.89
Money Back Policy
Money Back with Profit - Plan no.75
New Money Back - Plan no.93
Jeevan Surabhi 15 yrs - Plan no.106
Jeevan Surabhi 20 yrs - Plan no.107
Jeevan Surabhi 25 yrs - Plan no.108
Jeevan Bharati Plan No 160
Jeevan Samriddhi Plan No 154, 155, 156 157
Bima Bachat- Plan no.175
Pension Plans or Annuities
New Jeevan Dhara - Plan no.148
New Jeevan Suraksha Plan no. 147
Jeevan Akshay II Plan no. 163
Jeevan Nidhi Plan no. 169
Jeevan Akshay V Plan no. 183
Special Plans
Term Assurance - Plan no.43
Mortgage Redemption - Plan no.52
Jeevan Aadhar - Plan no.114
Market Plus - Plan No 181
Jeevan Vishwas Plan No. 136
Jeevan Saral Plan No. 165
Jeevan Pramukh Plan No. 167
Bima Nivesh 2005 Plan No 171
Money Plus-Plan No 180
Term Policy
Convertible Term Assurance - Plan no.58
New Bima Kiran
Term Assurance
Anmol Jeevan I Plan No- 164
Amulya Jeevan-Plan No-177
Service Quality
Your Policy Bond And Its Safety
Your Policy Number
Policy Conditions
Alterations In Policy
If Your Policy Is Lost
Your Contact Address – Keep Us Posted Without Fail
Admission Of Age
Nomination
Assignment
When To Pay The Premiums
Grace Period For Premium Payment
How And Where To Pay The Premiums
Policy Status – Where Available
Revival Of Lapsed Policies
Availing Loans On Policies
Surrender Value
Maturity, Survival Benefits, Disability And Death Claims
Policies Under Salary Savings Scheme
Helpline
Chapter 6
Conclusion
Conclusion
After Finding’s we can see about LIC features and his The tendency
to take
the expedient approach and focus on the far right of the LIC
spectrum,
Peacetime Contingency Operations and conduct training as usual,
while
briefing that the LIC block has been checked, will lead us to a
possibly fatal
false sense of security.
Instinctive behavior and ingrained training must be adjusted to fit
new
circumstances. STXs must be developed locally or borrowed from
units who
have already been through the training.
The probability of becoming involved in a LIC operation is high. The
potential
to attract international attention, even with limited forces, is also
great. Units
have demonstrated that with a balanced training focus and proper
preparation, many pitfalls outlined above can be avoided.
LIC is not conventional warfare. This is critical for the
counterinsurgent to
understand. The insurgent’s violent and coercive strategy is applied
so as to
achieve political, civil, military and psychological results. Hence, the
counterinsurgent must counter all of these strategic elements
individually. In
addition, the target of the insurgent’s violence and coercion is the
population.
This is because the population is the centre of gravity in LIC.
Therefore the
counterinsurgent must also focus on the population to be
successful. In terms
of military principles in counterinsurgency, doctrinal precision,
professionalism, independence, initiative, force precision, restraint,
combined
arms, precision engagement, joint force, effective population based
intelligence, integrated communications, a civil affairs approach
and high
levels of training are critical. So all policies and plan toally satisfied
the customers.
Chapter 8
B IB L I O GR A PH
Y
B IB L I O GR A PH Y
Important websites –
www.google.com(recummented)
www.licindia.com
Magazine
Yogkshem –Lic Magazine
Outlook Express
Business today
Finance & Banking
Money Outlook
News Paper
Business standard
Times of India
Economic times
Hindustan times