LIC

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St.Milagres cooperative is a corporate agent of LIC of India and we can get a customer’s life insurance policy done through all our branches. Our Branches have been provide with sub agent code which facilitates easy login and quick processing of paper work for customers.

ABOUT LIC

The Life Insurance Corporation of India was founded in 1956 when the Parliament of India passed the Life Insurance of India Act that nationalised the private insurance industry in India. Over 245 insurance companies and provident societies were merged to create the state owned Life Insurance Corporation.
Insurance basically means the protecting yourself from financial loss. It is a type of risk management which is mainly used to evade against the possibility of a contingent, uncertain loss. In this the insured (entity who buys insurance) transmits the rate of potential loss to another entity in swap for financial compensation which is known as the “premium”. Insurance is important because it allows the businesses, persons and entities to care for themselves against considerable financial hardship and potential losses at a reasonably nominal price.


OBJECTIVES OF LIC

Spread Life Insurance widely and in particular to the rural areas and to the socially and economically backward classes with a view to reaching all insurable persons in the country and providing them adequate financial cover against death at a reasonable cost.

BENEFITS/ADAVANTAGES

  • It covers life risk
  • It encourages savings
  • Maturity / death/ SB claims are tax free
  • Income tax exemption
  • Loan facility
  • Easy financial settlement to the family members in the event of death of the policy holder
  • Flexible premium payment options
  • Tax free returns
  • Peace of mind

GENERAL POLICIES

  • New Jeevan Anand
  • New Endowment
  • Money Back Policies
  • New Endowment Plus
  • Jeevan Rakshak
  • Jeevan Labh
  • Jeevan Lakshya
  • New Bima Bachat
  • New Jeevan Nidhi

PREMIUM COLLECTION POINT

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AWARDS GALLERY 2018-19

Our M.D Sir being honoured by LIC of India
Citation Received for being No.1 Corporate Agent in India FY 18-19
LIC Training Session @Karwar
Citation Received for completing 10,000 policies for FY 18-19

AWARDS GALLERY 2017-18

Trophy Received for being No.1 Corporate Agent in India FY 17-18
Citation Received for completing 10,000 policies for FY 17-18


Training Session held at Karwar,Premier Residency ,14-09-2019