LIC EFAP stands for LIC’s Employee’s Guaranteed Savings Plan. It is a with-profit (non-participating) plan, which means the benefits are guaranteed and declared at the time of policy purchase, not dependent on market fluctuations or bonus declarations.
The primary objective of this plan is to provide a disciplined savings avenue for employees, ensuring a lump sum amount at maturity while covering the life assured against unforeseen events. The plan also offers high Sum Assured rebates, making it cost-effective for mid-to-high-income earners. lic efap
To be eligible for EFAP benefits, the following conditions must be met: LIC EFAP stands for LIC’s Employee’s Guaranteed Savings
Note: Probationary employees and contractual staff are generally not covered under EFAP. Always check with your divisional office for specific case eligibility. On survival till the end of the policy
On survival till the end of the policy term, the policyholder receives:
This lump sum can be used for retirement planning, children’s higher education, marriage, or purchasing a home.
LIC EFAP stands for LIC’s Employee’s Guaranteed Savings Plan. It is a with-profit (non-participating) plan, which means the benefits are guaranteed and declared at the time of policy purchase, not dependent on market fluctuations or bonus declarations.
The primary objective of this plan is to provide a disciplined savings avenue for employees, ensuring a lump sum amount at maturity while covering the life assured against unforeseen events. The plan also offers high Sum Assured rebates, making it cost-effective for mid-to-high-income earners.
To be eligible for EFAP benefits, the following conditions must be met:
Note: Probationary employees and contractual staff are generally not covered under EFAP. Always check with your divisional office for specific case eligibility.
On survival till the end of the policy term, the policyholder receives:
This lump sum can be used for retirement planning, children’s higher education, marriage, or purchasing a home.