Govt announces family pension for LIC employees, hikes gratuity limit for agents ...Middle East

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Govt announces family pension for LIC employees, hikes gratuity limit for agents
New Delhi: Government on Monday announced family pension at a uniform rate of 30 per cent for the welfare of the families of LIC employees. It has also enhanced the gratuity limit from Rs 3 lakh to Rs 5 lakh for LIC agents. Announcing a slew of welfare measures for LIC agents and employees, the Finance Ministry said that these will bring substantial improvements to the working condition and benefits of LIC agents. The term insurance cover for the agents has also been expanded from the existing range of Rs 3,000-10,000 to Rs 25,000-1,50,000. This enhancement in term insurance will significantly benefit the families of deceased agents, offering them a more substantial welfare benefit, officia

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