The finance ministry on September 18 unveiled a series of welfare measures for agents and employees of the Life Insurance Corporation of India (LIC).
According to an official statement, the government said that the welfare measures are related to the amendments to LIC (Agents) Regulations, 2017, enhancement of gratuity limit, and uniform rate of family pension among others.
The government has enhanced the gratuity limit from Rs 3 lakh to Rs 5 lakh for LIC agents. "It will bring substantial improvements to the working conditions and benefits of the LIC agents," the ministry said in the statement.
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