LIC
India's largest life insurer the Life Insurance
Corporation of India (LIC) decreased its holding
in 115 stocks during the quarter ended
September 30, 2023. ETMarkets brings 10
stocks where LIC reduced its holdings the
most as of the last quarter. The average stock
price change during the quarter was 17.28% for
these stocks.
Out Of Favour
The state-run insurance company has more than 1% equity across 274 companies, according to Prime Infobase data. The data also states that LIC accounts for the largest share of investments in equities by insurance companies with 68% share out of a total Rs 11.72 lakh crore.
1.Who is the first CEO of LIC?
Siddhartha Mohanty
The Government of India has appointed Siddhartha Mohanty as the first chief executive of the Life Insurance Corporation of India (LIC), reported Hindustan Times.
2.What is the maturity date of LIC policy?
Ans: The maturity date is the date on which the policy or bond matures. On this day, the insured or investor receives the principal amount in lump sum along with any residual returns and benefits. The policy or financial instrument expires on this day, and one stops receiving the regular interest payments.
3.Is LIC a government company?
It is under the ownership of Government of India and administrative control of the Ministry of Finance. The Life Insurance Corporation of India was established on 1 September 1956, when the Parliament of India passed the Life Insurance of India Act, nationalising the insurance industry in India.
4.Can I take loan against LIC policy?
The loan amount is given on the basis of the surrender value of the LIC policy. The maximum loan amount that can be availed will be up to 90% of the surrender value. The maximum loan amount is 85% of the surrender value for a paid-up policy. This includes the cash bonus that may be applicable to the policy.3 days ago
5.How can I know my LIC policy maturity value?
To check the updates through SMS, one can type "ASKLIC" followed by the policy number and SMS it to the phone number 56767877 made available by the Corporation.
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