How to check LIC policy status online by policy number or policy details by SMS? My friend Ritvik bought a policy from Life Insurance Company (LIC) last year for tax saving purposes during the tax declaration period. At the time of buying the LIC policy, Ritvik also filled an Electronic Clearing Service (ECS) form through…
What is the meaning of Surrender value in insurance and Paid up value in Life Insurance? How do we calculate “Surrender value in insurance“? What is the difference between surrender value and paid up value in life insurance? Ajay paid 3 years premium towards his Endowment Policy. He then realised that his policy was not…
Have you ever heard of anyone paying TDS on maturity of Life Insurance Policy? You can ask this question to your friends and colleagues and see if someone makes fun of you. Have you ever heard of Section 194DA of Income Tax Act? People may call you crazy since it seems impossible that someone would…
What is the grace period for life insurance policy? What happens when you do not pay your premiums or payments on time? Ramesh`s father was admitted to the hospital last night as had suffered a severe heart stroke. Unfortunately, he could not survive. When Ramesh made an insurance claim, he realized that the last premium…
Does Claim Settlement Ratio matter? Where can I get the latest report on IRDA Claim Settlement Ratio of Insurance Companies for FY 2016-2017-2018? The latest IRDA Claim Settlement Ratio for FY 2016-2017 was released in January 2018. LIC again tops the chart with a Claim Settlement Ratio of 98.31%. Max Life Insurance is one of the top amongst…