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Life Insurance

 

Insurance Regulatory and Development Authority of India (IRDAI) vide its guidelines under IRDAI Regulations 2015 permitted entry of Banks into insurance business. As per IRDAI regulations 2015, our Bank had registered as corporate agent vide Certificate of Registration No:CA0204. Our Bank acts as Corporate Agent of the Insurer – Life Insurance Corporation of India for the purpose of soliciting and distributing insurance policies being offered by the insurer.

  • Branches will collect the applicable premium from the policy holders and it will be remitted to the respective LIC office.
  • No amount collected from the insured towards premium will be retained by branches. It will be forth with transmitted to the insurer.
  • In the solicitation of business, we will not unilaterally represent rates of premium different from those fixed or instructed by the LIC.
  • We will follow up with the insurer for issuance of policies and hand them over to the Policyholders.
  • Policy holders is advised to scrutinize the policies for which we will assist, to identify any errors or discrepancies and it will be immediately brought to the notice of the insurer for necessary action.
  • No correction, alternation or modification will be made by our Bank in the policies issued by the LIC.
  • Any intimation of claim received by us will be immediately forwarded to the respective LIC office to facilitate commencement of claim process and handling.
  • The Claims will be considered for settlement strictly in accordance with the terms and conditions of the policy.
  • We will guide our policy holders, of claim procedures under a policy including prompt intimation of loss, submission of claim forms and documentations to establish the claim, disclosure of all material facts and compliance with requirements that may be raised by the insurer or Surveyors/investigators.
  • We will not charge any fee or remuneration for providing assistance related to the settlement of claims to the Policy holders.
  • We accept complaints over phone or in writing or through electronic mail and/or other modes of valid communications, as the case may be from our Policy Holders.
  • The policy holders can register their complaints either in the “compliant register” available with branch heads or drop their complaints in the “compliant drop box” available in branches.
  • We will take necessary steps for redressal of grievances of our policy holders within 14 days of receipt of such complaint after providing acknowledgement of the same.

We are soliciting and distributing following insurance policies being offered by the insurer – Life Insurance Corporation of India.

Sr. No. Table No. Name of Product
1 914 New Endowment
2 915 Jeevan Anand
3 917 Single Premium Endowment
4 933 Jeevan Lakshya
5 936 Jeevan Labh
6 943 Aadhaar Stambh
7 944 Aadhaar Shila
8 951 Micro Bachat
9 945 Jeevan Umang
10 920 20 Year Money Back
11 916 Bima Bachat
12 921 25 Year Money Back
13 932 Child Money back
14 934 Jeevan Tarun
15 947 Jeevan Shiromani
16 948 Bima Shree
17 849 Nivesh Plus
18 852 SIIP
19 855 Jeevan Amar
20 856 Pradhan Mantri Vaya vandana Yojana
21 850 Jeevan Shanti
22 857 Jeevan Akshay VII
23 904 Jeevan Arogya
24 905 Cancer Cover
 

For more details regarding LIC products please logon to www.licindia.com