Address
4th Floor, Jeevan Seva Annexe Bldg. S. V. Road, Santacruz (W) Mumbai - 400 054
About companies
Company Name
IRDAI Head Office
Company Website
licouncil@lifeinscouncil.org
Company Number
(+91-22) 26103303
(+91-22) 26103306
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About Insurance
About Insurance Plan Title
What is the Life Insurance Council of India?
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Insurance Plan Description
The Life Insurance Council of India is the unified forum of all stakeholders of the life insurance sector. It acts as a representative of the life insurance industry by bridging the gap between the government, the IRDAI, and the public.
Constituted under Section 64C of the Insurance Act, 1938, the Life Insurance Council operates through various sub-committees, including all 24 life insurance companies of India. Together, these authorised insurers offer a wide range of traditional and innovative life insurance products, policies, and plans to meet the diverse needs of today.
- Unified Forum
- Life Insurance Representative
- Industry’s Advocacy Body
Constituted under Section 64C of the Insurance Act, 1938, the Life Insurance Council operates through various sub-committees, including all 24 life insurance companies of India. Together, these authorised insurers offer a wide range of traditional and innovative life insurance products, policies, and plans to meet the diverse needs of today.
- Unified Forum
- Life Insurance Representative
- Industry’s Advocacy Body
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Benefits of Term Life
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What Are the Functions of the LI Council of India?
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Build a positive industry image to strengthen consumer trust.
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Uphold ethical and governance standards across sectors and stakeholders.
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Promote public awareness about the role and benefits of life insurance.
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Interact with government and key institutions on policy, regulation, and industry matters.
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Drive research and publish insights to support sector growth and innovation.
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Serve as a platform for collaboration for all the involved financial service bodies.
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Lead literacy initiatives through training, and industry conferences.
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Provide guidance and support to member insurers whenever needed.
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Connect the Indian life insurance industry with global markets and best practices.
How to Buy a Term
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Title
Why LI Council Matters to You?
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Description
The LI Council of India plays a significant and complementary role in transforming the way India’s life insurance industry operates. It strives to make itself a vibrant, trustworthy, and profitable forum that focuses on helping people in their journey towards financial prosperity.
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Promotes Fair Practices
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LI Council acts as a guiding force that ensures that insurers follow ethical, customer-first standards across the industry.
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Enhances Transparency
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It strives to improve clarity in products, benefits, and communication for policyholders and stakeholders.
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Improves Claim Efficiency
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The forum supports measures that make claim processes faster, smoother, and more reliable for a satisfactory experience.
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Encourages Innovation
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Focusing on innovation and transformation, LI Council drives the development of modern, customer-friendly insurance solutions.
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Builds Trust in the Industry
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By fostering a secure and responsible ecosystem, the council strengthens consumer confidence in life insurance.
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/about-us/life-insurance-council