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How many insurance companies in India ?

Life Insurance Companies Brief Details There are currently, a total of 24 life insurance companies in India. Of these, Life Insurance Corporation of India (LIC) is the only public sector insurance company. All others are private insurance companies. Many of these are joint ventures between public/private sector banks and national/international insurance-financial companies. Private life insurance companies in India got access to the life insurance sector in the year 2000. Most private players have tied up with international insurance giants for their life insurance foray. AEGON Life Insurance Company AEGON Life Insuranceis a joint venture between one of the world’s leading financial service organization and Bennett, Coleman & Company. The company is focused to provide a customer centric business along with an excellent and innovative working professionals. Started its operation in year 2008 the company works with a multiple channel distribution strategy with an aim to he...
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All you need to know about loans against Insurance Policies

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Your LIC policy can do more than just give you an insurance cover. It can be used to raise loans. The rates at which loans can be taken have been revised early May 2020. Loans against the policy ‘Jeevan Shikhar’ are available at the lowest rate of 9 per cent. On all other regular premium endowment plans and money-back policies launched after April 1, 2019, loans would come with a 9.5 per cent interest. But those opting for loan against single premium traditional policies – namely Jeevan Vridhhi (Plan 808), Jeevan Vaibhav (Plan 809), Jeevan Sugam (Plan 813), Jeevan Shagun (Plan 826), Jeevan Sangam (Plan 831) and Jeevan Utkarsh (Plan 846) – would pay the steepest interest rate of 10 per cent annually. “The revised rate will be applicable on the new loans being availed by policyholders and there will be no change in respect of existing loans,” clarifies LIC. As per the last Annual Report of the company, Rs 1.14 lakh crore have been given out as loans in India, of which 99....
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