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The Finance Ministry in September had approved a series of welfare measures, including enhancement of the gratuity limit and family pension, for the benefit of LIC agents and employees. The ministry had enhanced the gratuity limit from Rs 3 lakh to Rs 5 lakh for LIC agents aimed at bringing substantial improvements to the working conditions and benefits for them.
India Business News: The finance ministry has announced measures that will benefit LIC employees and agents. They include an increase in the gratuity limit from Rs 3 lakh
Good News! Employees LIC agents, The government has increased the gratuity limit and announced a 30% uniform rate of family pension for over 13 lakh agents and over 1 lakh regular employees and more at news18.com
The Finance Ministry announced that it has approved several welfare measures for the agents and employees of the Life Insurance Corporation of India. The benefits include increase in gratuity limit, eligibility for renewal commission, term insurance cover and a uniform rate of family pension for LIC agents and employees.
The welfare measures include modifications to the LIC (Agents) Regulations, 2017, an increase in the gratuity limit, and a uniform rate of family pension, among other things.