Life Insurance Corporation
Financial Service Executives
possess the Bachelor’s Degree of a University in India established under
a statute. Preference may be given to those applicants who possess the
Bachelor Degree or Diploma in Marketing /Management. Good working
knowledge of English and also one Regional language preferably local
language is desirable. Knowledge of soft skills such as Power Point /
Word / Excel would be additional advantage.
ascertain, before applying, that they satisfy all the eligibility
conditions as stipulated in the notification. Candidates who do not
satisfy the eligibility conditions are liable to be disqualified at any
stage of selection.
Corporation takes no responsibility for any delay in receiving the Application Form or loss in postal transit.
Application Form not
in the prescribed Format or incomplete/unsigned or received without the
Demand Draft for application fee wherever applicable or Caste
Certificate in case of SC/ST/OBC applicants, shall not be considered and
are liable to be rejected.
Application fee once
paid will not be refunded under any circumstances nor will it be held
in reserve for future recruitment. The eligible candidates will be
intimated separately about the exact date & venue of the
Decision of the
Corporation in all matters regarding eligibility, conduct of
examination, other tests, Interview, selection and allotment would be
final and binding on all candidates. No representation or correspondence
will be entertained by the Corporation in this regard.
In case more than
one application is received from an applicant for the same Division
and/or different Divisions and/or different Zones then, the first
application received from the applicant as per entry made in the
register maintained by the Corporation shall be treated as his only
application and all the other applications shall be treated as invalid.
In case of any doubt or dispute, the decision of the Zonal Manager shall
be final and binding on the applicant.
Every day we wake up to the fact that more than 250 million lives are part of our family called LIC.
We are humbled by
the magnitude of the responsibility we carry and realise the lives that
are associated with us are very valuable indeed.
Though this journey
started over five decades ago, we are still conscious of the fact that,
while insurance may be a business for us, being part of millions of
lives every day for the past 52 years has been a process called TRUST.
The story of
insurance is probably as old as the story of mankind. The same instinct
that prompts modern businessmen today to secure themselves against loss
and disaster existed in primitive men also. They too sought to avert the
evil consequences of fire and flood and loss of life and were willing
to make some sort of sacrifice in order to achieve security. Though the
concept of insurance is largely a development of the recent past,
particularly after the industrial era – past few centuries – yet its
beginnings date back almost 6000 years.
Life Insurance in
its modern form came to India from England in the year 1818. Oriental
Life Insurance Company started by Europeans in Calcutta was the first
life insurance company on Indian Soil. All the insurance companies
established during that period were brought up with the purpose of
looking after the needs of European community and Indian natives were
not being insured by these companies. However, later with the efforts of
eminent people like Babu Muttylal Seal, the foreign life insurance
companies started insuring Indian lives. But Indian lives were being
treated as sub-standard lives and heavy extra premiums were being
charged on them. Bombay Mutual Life Assurance Society heralded the birth
of first Indian life insurance company in the year 1870, and covered
Indian lives at normal rates. Starting as Indian enterprise with highly
patriotic motives, insurance companies came into existence to carry the
message of insurance and social security through insurance to various
sectors of society. Bharat Insurance Company (1896) was also one of such
companies inspired by nationalism. The Swadeshi movement of 1905-1907
gave rise to more insurance companies. The United India in Madras,
National Indian and National Insurance in Calcutta and the Co-operative
Assurance at Lahore were established in 1906. In 1907, Hindustan
Co-operative Insurance Company took its birth in one of the rooms of the
Jorasanko, house of the great poet Rabindranath Tagore, in Calcutta.
The Indian Mercantile, General Assurance and Swadeshi Life (later Bombay
Life) were some of the companies established during the same period.
Prior to 1912 India had no legislation to regulate insurance business.
In the year 1912, the Life Insurance Companies Act, and the Provident
Fund Act were passed. The Life Insurance Companies Act, 1912 made it
necessary that the premium rate tables and periodical valuations of
companies should be certified by an actuary. But the Act discriminated
between foreign and Indian companies on many accounts, putting the
Indian companies at a disadvantage.
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