Business Desk, AnyTV, New Delhi
Published by: Deepak Chaturvedi
Updated Tue, 22 Feb 2022 08:28 AM IST
Summary
LIC IPO Latest News Update: In the clarification issued by the company, it has been said that ‘PMJJBY policy holders can apply in the reserved category for policyholders’ mentioned by the LIC Chairman during the conversation was inadvertently said. PMJJBY is, in fact, a group insurance product and does not qualify for the IPO discount offered to the policyholders at all.
Life Insurance Corporation of India (LIC) is all set to present the IPO next month. Under this, information has come to the fore to reserve 10 percent for policy holders and five percent for employees. In this regard, on Monday, MR Kumar, chairman of the country’s largest insurance company, had said that the insured of Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) would be entitled to a discount in its IPO. But now the company has clarified on his statement that such insured will not be eligible for exemption.
was mentioned inadvertently
It is worth mentioning that Kumar had said that PMJJBY is part of it and there will be reservation for them (insured holders) in the IPO. In the clarification issued by the company, it has been said that ‘PMJJBY policy holders can apply in the reserved category for policyholders’ mentioned by the LIC Chairman during the conversation was inadvertently said. On behalf of the company, it was said that PMJJBY is, in fact, a group insurance product and is not at all eligible for the discount offered to the policyholders in the IPO. Along with this, it has also been said by the company that only those policy holders will be able to apply in the IPO, who will update the PAN from their account by February 28.
It was started in 2015
It is worth mentioning that PMJJBY was launched in 2015 and under this, all bank savings account holders in the age group of 18 to 50 years are offered life insurance of Rs 2 lakh. The annual premium amount for this is Rs 330. This government scheme is offered through LIC. You can avail benefits up to Rs 2 lakh by paying premium in this. At the same time, there is no need to renew this insurance policy again. The main objective of this scheme was to provide financial assistance to such families, whose head of the household dies suddenly. To buy PM Jeevan Jyoti Bima Yojana, you need aadhar card, identity card, mobile number, passport size photo and passbook of your bank account.
No exemption for these policyholders
- LIC New One Year Renewal Group Term Assurance Plan-I
- LIC New One Year Renewal Group Term Assurance Plan-II
- LIC Single Premium Group Insurance
- LIC Group Credit Life Insurance
- LIC New One Year Renewal Group Micro Term Assurance Plan
- LIC New Group Gratuity Cash Accumulation Plan
- LIC New Group Leave Encashment Plan
- LIC New Group Superannuation Cash Accumulation Plan
- Group Immediate Annuity
- Pradhan Mantri Jeevan Jyoti Bima Yojana
Expansion
Life Insurance Corporation of India (LIC) is all set to present the IPO next month. Under this, information has come to the fore to reserve 10 percent for policy holders and five percent for employees. In this regard, on Monday, MR Kumar, chairman of the country’s largest insurance company, had said that the insured of Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) would be entitled to a discount in its IPO. But now the company has clarified on his statement that such insured will not be eligible for exemption.
was mentioned inadvertently
It is worth mentioning that Kumar had said that PMJJBY is part of it and there will be reservation for them (insured holders) in the IPO. In the clarification issued by the company, it has been said that ‘PMJJBY policy holders can apply in the reserved category for policyholders’ mentioned by the LIC Chairman during the conversation was inadvertently said. On behalf of the company, it was said that PMJJBY is, in fact, a group insurance product and is not at all eligible for the discount offered to the policyholders in the IPO. Along with this, it has also been said by the company that only those policy holders will be able to apply in the IPO, who will update the PAN from their account by February 28.
It was started in 2015
It is worth mentioning that PMJJBY was launched in 2015 and under this, all bank savings account holders in the age group of 18 to 50 years are offered life insurance of Rs 2 lakh. The annual premium amount for this is Rs 330. This government scheme is offered through LIC. You can avail benefits up to Rs 2 lakh by paying premium in this. At the same time, there is no need to renew this insurance policy again. The main objective of this scheme was to provide financial assistance to such families, whose head of the household dies suddenly. To buy PM Jeevan Jyoti Bima Yojana, you need aadhar card, identity card, mobile number, passport size photo and passbook of your bank account.
No exemption for these policyholders
- LIC New One Year Renewal Group Term Assurance Plan-I
- LIC New One Year Renewal Group Term Assurance Plan-II
- LIC Single Premium Group Insurance
- LIC Group Credit Life Insurance
- LIC New One Year Renewal Group Micro Term Assurance Plan
- LIC New Group Gratuity Cash Accumulation Plan
- LIC New Group Leave Encashment Plan
- LIC New Group Superannuation Cash Accumulation Plan
- Group Immediate Annuity
- Pradhan Mantri Jeevan Jyoti Bima Yojana