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Life Insurance Corporation of India (LIC) is an Indian multinational public sector life insurance company headquartered in Mumbai. It is India's largest insurance company as well as the largest institutional investor with total assets under management worth ₹ 52.52 trillion (US$610 billion) as of March 2024. [ 4 ]
In India, gratuity is a type of retirement benefit. It is a payment made with the intent of monetarily helping an employee after his or her retirement. It was held by the Supreme Court of India in Indian Hume Pipe Co Ltd v Its Workmen that the general principle underlying a gratuity scheme is that by service over a long period the employee is entitled to claim a certain amount as a retirement ...
An ordinance was issued on 19 January 1956, nationalising the life-insurance sector, and the Life Insurance Corporation was established that year. The LIC absorbed 154 Indian and 16 non-Indian insurers and 75 provident societies. The LIC had a monopoly until the late 1990s, when the insurance industry was reopened to the private sector.
Corporate-owned life insurance (COLI), is life insurance on employees' lives that is owned by the employer, with benefits payable either to the employer or directly to the employee's families. Other names for the practice include janitor's insurance and dead peasants insurance .
Amicable Society for a Perpetual Assurance Office, established in 1706, was the first life insurance company in the world.. An early form of life insurance dates to Ancient Rome; "burial clubs" [3] covered the cost of members' funeral expenses and assisted survivors financially.
Kirill Marchenko and Kent Johnson scored in the shootout and the Columbus Blue Jackets rallied to beat the Pittsburgh Penguins 4-3 on Tuesday night. Elvis Merzlikins, who made 20 saves, stopped ...
A teen was taken into custody this week for having a firearm at Apalachee High School in Winder, Georgia −the site where 14-year-old Colt Gray is accused of shooting four people dead in ...
Lincoln Income Life Insurance Company, originally Income Life Insurance of Kentucky was an insurance corporation based in Louisville, Kentucky. It provided life insurance , accident insurance , and fire insurance for over 70 years until it was acquired in 1986 by Conseco .
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