Question
The Finance ministry has approved the enhancement of
gratuity limit for Life Insurance Corporation (LIC) agents.Which of the following statements is/are true regarding this information- I.The Finance ministry has approved the enhancement of the gratuity limit from Rs 3 lakh to Rs 8 lakh for Life Insurance Corporation (LIC) agents benefitting more than 1.3 million of them. II.The ministry also increased the term insurance cover for agents from the existing Rs 3,000-10,000 to Rs 25,000-1,50,000. III. With regard to LIC employees, the ministry has also approved family pension at a uniform rate of 10 percent for the welfare of families.Solution
The Finance ministry has approved the enhancement of gratuity limit from Rs 3 lakh to Rs 5 lakh for Life Insurance Corporation (LIC) agents benefitting more than 1.3 million of them. The ministry also increased the term insurance cover for agents from the existing Rs 3,000-10,000 to Rs 25,000-1,50,000. The ministry also enabled reappointed agents to be eligible for renewal commissions, thereby providing them with increased financial stability. Currently, LIC agents are not eligible for renewal commission on any business completed under the old agency. With regard to LIC employees, the ministry has also approved family pension at a uniform rate of 30 per cent for the welfare of families.
What is the strike range of indigenously developed nuclear capable Prithvi-II missile?
Conference on E-Mobility in Indian Railways held in _________
According to Knight Frank’s Prime Global Cities Index,which city bagged the top spot in prime residential prices among global cities for the quarter...
ADB has provided how much loan to the government of India for financing the construction of the 82-kilometer Delhi-Meerut Regional Rapid Transit System ...
PHDCCI’s 2nd Global Spiritual Tourism Conclave “रूहmantic” — On which date will the conclave be held in Ujjain?
The Asiatic golden cat, recently rediscovered in Manas National Park, was last spotted in which year?
Which bank has partnered with OneCard to introduce state-of-the-art, mobile-first, contactless, metal co branded credit cards that will empower users wi...
During the Gagan Strike-II exercise, the Indian Army and IAF focused on integrating which of the following assets into their combat scenarios?
The Employees’ State Insurance Corporation (ESCI) has decided to cover the whole of India by the year _______ for its employee state insurance (ES...
Which word was chosen as the Cambridge dictionary's word of the year for 2023?
