Updates on meeting held on GTI Premium with LIC on 01.02.2023

The meeting for negotiation on GTI Premium rates was held today. LIC has finally offered the rates of Rs 11000 plus GST for 50 Lacs GTI. This rate has been derived on no profit no loss basis by taking into account the premium paid and total death claims settled by LIC till date

Association has requested for reducing the premium rates further down. However LIC is reluctant to reduce the rates any more as they have quoted the revised rates on no profit no loss basis.

The options shall be called on ESS Portal soon. Policy Shall be renewed w.e.f 1st March 2023.