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The "LIC's Bima Sakhi Yojana" [27] scheme is a significant program introduced by the Life Insurance Corporation of India (LIC) under the guidance of the Government of India [28]. The scheme was officially inaugurated by Prime Minister Narendra Modi [29] [30] [31] on December 9, 2024, in Panipat, Haryana. The program aims to empower women by ...
This life insurance scheme for individuals can be renewed every year. [75] Unnat Jyoti by Affordable LEDs for All (UJALA) CS MoP: 2015: Electrification: Replaced the "Bachat Lamp Yojana". Reduces the cost of energy-saving compact fluorescent lamps. By the end of 2021, 36,78,00,000 LEDs were distributed resulting in energy savings and reduction ...
Life insurance is one of the growing sectors in India since 2000 as Government allowed Private players and FDI up to 26% and recently Cabinet approved a proposal to increase it to 49%. In 1955, mean risk per policy of Indian and foreign life insurers amounted respectively to ₹2,950 & ₹7,859 [ 1 ] (worth ₹15 lakh & ₹41 lakh in 2017 prices).
Term life insurance: Term life insurance offers coverage for a fixed period of time, perhaps for 5, 10 or even 30 years. If the policyholder passes after the term of the insurance, then the ...
The insurance sector has gone through a number of phases by allowing private companies to solicit insurance and also allowing foreign direct investment. India allowed private companies in insurance sector in 2000, setting a limit on FDI to 26%, which was increased to 49% in 2014, [ 2 ] and further increased to 74% in May 2021.
Permanent life insurance, such as whole life or universal life, offers lifelong coverage (typically up to a coverage age of 95 to 121) and builds cash value over time, unlike credit life insurance ...
The least expensive type of life insurance is usually term life insurance. It provides coverage for a specific period — often 10, 20 or 30 years — and is typically much cheaper than permanent ...
Unit linked funds insurance plans existed pre 2000. An early adopter for unit-linked insurance plan was launched by Unit Trust of India. [1] With the Government of India opening up the insurance sector to foreign investors in 2001 [2] and the subsequent issue of major guidelines for unit-linked insurance plans by the Insurance Regulatory and Development Authority, now the Insurance Regulatory ...