Centre Announces Welfare Measures For LIC Agents, Employees

The Ministry of Finance on Monday approved a series of welfare measures for the benefit of Life Insurance Corporation of India (LIC) agents and employees according to a release from the Ministry.

The ministry decided to enhance the gratuity limit from Rs 3 lakh to Rs 5 lakh for LIC agents, aiming to bring substantial improvements to the working conditions and benefits of those individuals.

The term insurance cover for the agents has been expanded from the existing range of Rs 3,000-10,000 rupees to Rs 25,000-150,000.